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Aether Industries Limited (AETHER) fair value: what the stock is really worth

As of Sep 25, 2026: fair value of Aether Industries Limited ₹279, price ₹1,767, upside -84.2%, quality 46 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
  3. Add to watchlist

Basic Materials · IN · ISIN INE0BWX01014

AI Thin data Sep 27, 2026

Aether Industries Limited

AETHER · NSE

Structural break: The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.

Weakest SetupStrongly overvalued and low quality.

!Fair value ₹279.46 · Strongly overvalued (−84.2%)
!Quality 46/100
!Expensive Growth (revenue 5y +20.8 %/yr)
✓Solidly profitable · 18.9% net margin (TTM)
!Low debt · negative free cash flow
!Mixed vs. peers (6/12)
!Moderate moat 60/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

₹1,767 ₹730.80 Fair Value ₹279.46 Jun 2022 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 27, 2026.

How to read this chart

52‑month range ₹730.80 – ₹1,767 · fair‑value band ₹201.08 – ₹349.87 · the ₹1,767 price screens above the ₹279.46 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 27, 2026.

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Company profile

Aether Industries Limited produces and sells advanced intermediates and specialty chemicals in India and internationally. It also large-scale manufacturing, contract research and manufacturing services, as well as contract/exclusive manufacturing services.

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Aether Industries Limited produces and sells advanced intermediates and specialty chemicals in India and internationally. It also large-scale manufacturing, contract research and manufacturing services, as well as contract/exclusive manufacturing services. The company serves its products to the chemical industry, including multinational, regional, and domestic companies in the pharmaceuticals, agrochemicals, materials science, textiles, coatings, high-performance photography, additives, and oil and gas industries. It also exports its products. Aether Industries Limited was incorporated in 2013 and is headquartered in Surat, India.

Stock analysis

Aether Industries Limited (AETHER) currently trades at ₹1,767, while our model-based Fair Value estimate is ₹279.46, implying the stock looks roughly 532.1% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹650.05 per share, and 0 of the 14 models we run sit above the ₹1,767 price.

Bear case: the Asset-Based group reads lowest at ₹123.99, and 14 of the 14 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹201.08 (bear) to ₹349.87 (bull), the price of ₹1,767 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 46/100 (below-average quality), in the Basic Materials sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Aether Industries Limited reported revenue of ₹11.6B in FY2026 versus ₹5.9B in FY2022, a compound +18.3%/yr. Reported net income was ₹2.2B in FY2026, compounding +19.1%/yr from FY2022.

Key figures

Market cap ₹235B (≈ $2.4B) · P/E ratio 106.7 · P/S ratio 20.2 · EPS (TTM) ₹16.56 · Net margin 18.9% · Return on equity 9.4% · Return on assets (EBIT) 17.9% · Operating margin 21.1%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (medium confidence).

What moves the price

The share trades at its 52-week high and 141% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Basic Materials peers we cover trades at −54% fair-value upside, at −84%, AETHER screens richer than that median.

Fair Value models

Bear ₹201.08 Fair Value ₹279.46 Bull ₹349.87
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹8.17 per share) are deliberately not added. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV ₹136.42 ₹154.96 ₹170.42 74
ROIC Compounder ₹136.42 ₹154.96 ₹170.42 72
Residual Income ₹148.58 ₹158.18 ₹177.64 71
All 14 models by family
Earnings-Based
Graham-Dodd ₹112.45 ₹784.21 ₹1,101 63
Lynch FV ₹363.25 ₹518.92 ₹674.60 61
PEG = 1.0 ₹363.25 ₹518.92 ₹674.60 57
EPV ₹136.42 ₹154.96 ₹170.42 74
Multiples
P/E Multiple ₹210.84 ₹281.12 ₹351.41 63
P/S Multiple ₹98.34 ₹131.13 ₹163.91 58
P/B Multiple ₹210.84 ₹281.12 ₹351.41 55
EV/EBIT ₹235.58 ₹313.97 ₹392.35 66
EV/EBITDA ₹205.93 ₹274.43 ₹342.93 67
EV/Revenue ₹92.22 ₹131.55 ₹170.89 53
Asset-Based
NCAV (Graham) ₹92.53 ₹123.99 ₹185.05 54
Economic Profit
Residual Income ₹148.58 ₹158.18 ₹177.64 71
ROIC Compounder ₹136.42 ₹154.96 ₹170.42 72
Growth Earnings
Growth-Adj P/E ₹455.04 ₹650.05 ₹845.07 67

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Quality Score breakdown

Overall quality 46/100

Of which business quality 46 · Market factors (momentum, volatility) 91

Profitability 43
Margins and returns on capital today
Quality Growth 64
Are margins and returns improving?
Cashflow 13
Earnings quality: real cash, not paper profit
Fin. Strength 78
Balance sheet, leverage, solvency risk
Investment 0
Disciplined investing over empire-building
Low Volatility 73
Calm price path (market factor)
Momentum 97
Price trend over the last 3–12 months (market factor)
52W Momentum 100
Distance to the 52-week high (market factor)
Net Issuance 70
Share count: buybacks or dilution?

Open the full quality analysis →

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 57/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+38.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+21.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+20.8%
Start year 2021 (pandemic)
Revenue growth 8 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+34.4%
What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
≈ +2.2%
Earnings growth per share plus dividend.
Earnings per share, growth per year+2.2%
Dividend (yield on the price)0.0%
⚠ Rate on operating basis: 2026 sits 58% above its own trend.

AETHER screens 532% overvalued. Compare with Linde plc →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Specialty Chemicals · 706 stocks

Beats the industry median on 5/11 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 46 · Below median
Fair Value upside −84.2% · Bottom 25%
Profitability
Return on equity (TTM) 9.4% · Above median
Return on assets 6.4% · Top 25%
Net margin (TTM) 18.9% · Top 25%
Operating margin (TTM) 21.1% · Top 25%
Growth and dividend
Revenue growth 26.1% · Top 25%

Valuation Multiplesvs Specialty Chemicals median · lower = cheaper

P/E (TTM) 106.7× · Priciest 25%
P/B 9.55× · Priciest 25%
P/S (TTM) 20.22× · Priciest 25%
EV/EBITDA 64.5× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 0
FUTURE (revenue growth)100 · sector 26
PAST (return on equity)38 · sector 23
HEALTH (low debt)100 · sector 95
DIVIDEND (yield)0 · sector 29

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Specialty Chemicals stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
Linde plc LIN $469.89 $441.72 −6%
The Sherwin-Williams Company SHW $329.10 $151.68 −54%
Ecolab Inc ECL $279.49 $96.56 −65%
Air Products and Chemicals, Inc APD $281.76 $121.30 −57%
Givaudan SA GIVN CHF 3,447 CHF 1,527 −56%
Wanhua Chemical Group 600309 ¥69.45 ¥68.03 −2%
DSM-Firmenich AG DSFIR CHF 92.30 CHF 29.70 −68%
Asian Paints Limited ASIANPAINT ₹2,444 ₹1,479 −39%
PPG Industries, Inc PPG $107.52 $76.98 −28%
EMS-CHEMIE HOLDING AG EMSN CHF 820.50 CHF 284.63 −65%

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Aether Industries Limited · Fair Value
₹279.46 −532%Fair Value
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Cite: Fair Value Calculator (2026). "Aether Industries Limited Fair Value". https://www.fairvalue-calculator.com/stock/AETHER

Frequently asked questions

Is Aether Industries Limited (AETHER) overvalued or undervalued?
As of Sep 27, 2026, our model estimates a fair value of ₹279.46 versus a price of ₹1,767, about −84% upside (overvalued).
What is the fair value of AETHER?
Our model-based fair value for Aether Industries Limited is ₹279.46 (as of Sep 27, 2026), built from audited fundamentals. The current price: ₹1,767.
What is the quality score of AETHER?
Aether Industries Limited has a Quality Score of 46/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Aether Industries Limited (AETHER)?
Our model-based price target is the fair value of ₹279.46 (as of Sep 27, 2026) from 14 valuation models. Cautious scenario ₹201.08, optimistic scenario ₹349.87. It is a calculation from audited fundamentals, not an analyst target.
What is the Aether Industries Limited stock forecast for 2026?
Our models put fair value at ₹279.46, about −84% upside versus a price of ₹1,767 (overvalued). Cautious scenario ₹201.08, optimistic scenario ₹349.87. The calculation is refreshed regularly with new filings.
What is the revenue of Aether Industries Limited (AETHER)?
Aether Industries Limited reported trailing-twelve-month revenue of about ₹11.6B (latest available figure, as of Sep 27, 2026).
What is the intrinsic value of Aether Industries Limited (AETHER)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Aether Industries Limited it is ₹279.46 per share (as of Sep 27, 2026), against a price of ₹1,767. It is the blended result of 14 valuation models (cash flow, earnings, asset, dividend).
Is Aether Industries Limited stock overvalued or undervalued in 2026?
As of Sep 27, 2026, AETHER trades above its calculated fair value: price ₹1,767, fair value ₹279.46, a gap of about −84% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of AETHER?
No. The price is what the market pays today (₹1,767); the fair value is what the company's own numbers justify (₹279.46). For Aether Industries Limited the two are ₹1,488 per share apart. That gap is exactly why we show both numbers side by side.
How much is Aether Industries Limited worth?
The market values Aether Industries Limited at about ₹235B (market capitalisation, as of Sep 27, 2026). Per share that is ₹1,767; our models calculate a fair value of ₹279.46 per share.
What do the bullish and bearish scenarios say about AETHER?
Our models span a range for Aether Industries Limited: cautious scenario ₹201.08, base ₹279.46, optimistic ₹349.87 per share (as of Sep 27, 2026, price ₹1,767). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of AETHER?
Aether Industries Limited trades at a price-to-earnings ratio of 106.7 (as of Sep 27, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹279.46 is built from several models across several years. Other multiples: P/B 9.6, P/S 20.2, EV/EBITDA 64.5.
How solid is the balance sheet of Aether Industries Limited (AETHER)?
Balance-sheet figures for Aether Industries Limited (as of Sep 27, 2026): return on equity 9.4%. They feed the Quality Score of 46/100, which measures business quality independently of the share price.
How far is AETHER from its 52-week high?
Aether Industries Limited trades at ₹1,767, at its 52-week high of ₹1,767 and 141% above the low of ₹732.60 (as of Sep 25, 2026). Distance from the high says nothing about value: that is what the fair value of ₹279.46 is for.
Which stocks are comparable to Aether Industries Limited?
From the same area (Basic Materials) we also value Linde plc, The Sherwin-Williams Company, Ecolab Inc, Air Products and Chemicals, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Aether Industries Limited stock attractive at the current price?
The data as of Sep 27, 2026: price ₹1,767, calculated fair value ₹279.46 (−84%), Quality Score 46/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of AETHER calculated?
We run Aether Industries Limited through 14 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹279.46, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.9 % above its aggregate fair value. Aether Industries Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Aether Industries Limited (AETHER)?
The closing price on Sep 25, 2026 was ₹1,767. Our model-based fair value is ₹279.46, about −84% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Aether Industries Limited right now?
The price sits above even our optimistic bull case (₹349.87). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (46/100) and above fair value, neither a clear bargain nor a standout compounder.

Key figures of Aether Industries Limited

How large is the market capitalisation of Aether Industries Limited (AETHER)?
The market capitalisation of Aether Industries Limited is ₹235B (≈ $2.4B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Aether Industries Limited (AETHER)?
The price-to-sales ratio of Aether Industries Limited is 20.2 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Aether Industries Limited (AETHER)?
Earnings per share at Aether Industries Limited are ₹16.56 (price ÷ EPS = P/E 106.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Aether Industries Limited (AETHER)?
The net margin of Aether Industries Limited is 18.9% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Aether Industries Limited (AETHER)?
The return on equity (ROE) of Aether Industries Limited is 9.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Aether Industries Limited (AETHER)?
On an EBIT basis the return on assets of Aether Industries Limited is 17.9% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Aether Industries Limited (AETHER)?
The operating margin of Aether Industries Limited is 21.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Aether Industries Limited (AETHER)?
Revenue at Aether Industries Limited is growing +26.1% versus a year earlier (3y avg +21.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Aether Industries Limited (AETHER)?
Earnings per share at Aether Industries Limited are growing +7.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Aether Industries Limited (AETHER) generate?
The free cash flow of Aether Industries Limited is −₹4.9B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Aether Industries Limited (AETHER) carry?
The net debt of Aether Industries Limited is ₹4.5B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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