Aether Indu.stries Ltd. takes possession of new industrial premises

Aether Industries Limited has acquired and taken possession of New Industrial Premises on Wednesday, February 22, 2023, located at: PLOT NO. 8202/2/B, ROAD NO. 8, GIDC INDUSTRIAL ESTATE, SACHIN, SURAT - 394230, GUJARAT.

The site is adjacent to the recently commercialized Greenfield Manufacturing Site - 3 along with the recently possessed Plot No. 8202/2/A (which we represented as 'Manufacturing Site - 3+'). Currently the said Site would be termed as Manufacturing Site - 3++. The said Site will be termed as an extension of Manufacturing Site - 3, and the Company will merge the Site -3, Site 3+ and this new Site, for various regulatory approvals and for use of various utilities and resources already available at Manufacturing Site - 3. The mergers of these three Sites will make the Manufacturing Site - 3 equal to Manufacturing Site 2 (10,500 Sq. Mtrs. total).

The total CAPEX envisaged for the Site 3++ is Rs. 800 million to Rs. 900 million, which will be spent in FY24. The Company has already spent Rs. 1,900 million for CAPEX on Site - 3 (which was funded through IPO for Rs. 1,630 million and remaining from internal accruals of the Company. Post the CAPEX at Site - 3+ (Rs. 800 million to Rs. 900 million in FY24) and Site - 3++, along with the CAPEX already done at Site - 3, the total investment into CAPEX would be of Rs. 3,600 million to Rs. 3,700 million at the overall merged site - Manufacturing Site - 3.

The Company will manufacture 2 (two) new products (specialty chemicals and intermediates), at this extended Manufacturing Site - 3++. These two products are developed in Company's in-house R&D Centre. These products will be manufactured for the first time in India, like most of our products. Once all the plants at this merged site (Site - 3, Site - 3+ and Site - 3++) are operational, there would be total 10 products, which will be manufactured by the Company.

Soon, the documentation / legal formalities of registry work will be concluded, and subsequent updates will be conveyed accordingly from time to time.

EQUITYBULLS