Aether Industries Management Guidance Tracker

Commercial production from Site 3+ and first two blocks of Site 5 will commence shortly, with water/solvent trials already started.

Management targets 70% of revenue from CRAMS and contract manufacturing, with 30% from large-scale manufacturing.

For FY27, Site 3+ is expected to operate at 45-50% capacity utilization in its first year.

Site 5's first two blocks are expected to run at 35-40% capacity utilization in FY27.

Management reiterated the target of 70% revenue from CRAMS and CM business models over the next 3-4 years, up from 55% in FY26.

Management expects EBITDA margins to remain stable between 29% and 30% in FY27, with PAT margins around 19-20%.

Capital expenditure for FY27 is guided at ₹3,000-3,500 million, primarily for site 5 and the new R&D facility.

Management targets reducing working capital days to around 160 by end of FY27, from 179 days as of March 2026.