Site 3+ and Site 5 commercial production in Q4 FY26
Commercial production from Site 3+ and first two blocks of Site 5 will commence shortly, with water/solvent trials already started.
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Keep management guidance in view.
Aether Industries · forward-looking guidance across the available source record.
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Guidance tracker
What management said would happen.
expansion
Target 70% revenue from CRAMS/CM over time
Management targets 70% of revenue from CRAMS and contract manufacturing, with 30% from large-scale manufacturing.
Site 3+ capacity utilization 45-50% in FY27
For FY27, Site 3+ is expected to operate at 45-50% capacity utilization in its first year.
Site 5 capacity utilization 35-40% in FY27
Site 5's first two blocks are expected to run at 35-40% capacity utilization in FY27.
EBITDA margin guidance of 29-30% for FY27
Management expects EBITDA margins to remain stable between 29% and 30% in FY27, with PAT margins around 19-20%.
Capex of ₹3,000-3,500 crore for FY27
Capital expenditure for FY27 is guided at ₹3,000-3,500 million, primarily for site 5 and the new R&D facility.
Working capital target of 160 days by FY27 end
Management targets reducing working capital days to around 160 by end of FY27, from 179 days as of March 2026.
CRAMS + CM to reach 70% of revenue in 3-4 years
Management reiterated the target of 70% revenue from CRAMS and CM business models over the next 3-4 years, up from 55% in FY26.