Aether Industries announced that the Gujarat Pollution Control Board (GPCB) vide its communication (as received today), revoked the closure order (which was issued on account of fire accident on 29 November 2023) for the Manufacturing Facility II, hence approving the resumption of additional operations therein. Company will now commence operations for 75% capacity at the Manufacturing Facility II, upon adhering compliances as stipulated. Powered by Capital Market - Live News

Net loss of Aether Industries reported to Rs 1.43 crore in the quarter ended March 2024 as against net profit of Rs 37.56 crore during the previous quarter ended March 2023. Sales declined 36.05% to Rs 117.53 crore in the quarter ended March 2024 as against Rs 183.78 crore during the previous quarter ended March 2023.For the full year,net profit declined 36.75% to Rs 82.49 crore in the year ended March 2024 as against Rs 130.42 crore during the previous year ended March 2023. Sales declined 8.13% to Rs 598.17 crore in the year ended March 2024 as against Rs 651.07 crore during the previous year ended March 2023. ParticularsQuarter EndedYear Ended�Mar. 2024Mar. 2023% Var.Mar. 2024Mar. 2023% Var. Sales117.53183.78 -36 598.17651.07 -8 OPM %8.7032.45 -22.1128.61 - PBDT18.1359.05 -69 162.94197.72 -18 PBT7.7752.16 -85 123.27174.48 -29 NP-1.4337.56 PL 82.49130.42 -37 Powered by Capital Market - Live News

Aether Industries will hold a meeting of the Board of Directors of the Company on 21 May 2024.Powered by Capital Market - Live News

Aether Industries has received reaffirmation in credit ratings for facilities availed aggregating to Rs 132.80 crore at ICRA A+ (long term rating) and ICRA A1 (short term rating). Powered by Capital Market - Live News

Novoloop, a leading plastic circular economy technology company, announced the successful startup of its pilot plant in India. In collaboration with Aether Industries, the pilot plant`s ground breaking in Surat was announced in January 2024. Construction was completed in March 2024 with astounding speed. The pilot plant has now passed equipment testing and solvent runs, and has achieved continuous operations with the usage of commercially-representative waste feedstock.This milestone marks the successful transition from batch reactions to an integrated and automated plant that validates Novoloop`s first-of-a-kind Lifecycling� technology. Novoloop`s Lifecycling� process transforms post-consumer polyethylene plastic waste into virgin-quality monomers for performance materials at a carbon footprint reduction of up to 91% when compared to the conventional process of producing adipic acid. Novoloop is a mission-driven company focused on creating scalable solutions for the hardest-to-recycle plastics. In recognition of the company`s potential for world-scale environmental impact, this pilot scaleup has received the support of Rolex as part of its Perpetual Planet Initiative.The primary objectives of the pilot plant are to demonstrate the safe and reliable operations of the integrated process, validate key equipment performance in an industrial environment, and achieve production of high purity products. The facility also provides a platform for training personnel and developing protocols for commercial operations. The plant will produce ton-scale samples to enable off-take commitments with early customers.Aether`s operational expertise is a strong asset and instills confidence in the potential for larger scale collaborations between the companies in the future. Novoloop`s plans to expand the pilot capacity to the full 70 metric tons per year demonstration plant scale are already underway. Powered by Capital Market - Live News