Aether Industries executes long-term Supply and Sales Agreement with Japan based Otsuka Chemical Co.

Aether Industries Limited have executed a long-term Supply and Sales Agreement (hereinafter "Agreement") on March 3, 2023 with Otsuka Chemical Co., Ltd., Japan, along with Chori Co., Ltd., Japan (being the Agent of Otsuka Chemical Co., Ltd.).

The Agreement is executed for supply and sale of specific existing specialty intermediates of Aether Industries to the Otsuka Chemical Co., Ltd., Japan. The Agreement is for supply and sales by Aether Industries to Otsuka Chemical Co., Ltd., Japan for a period of 10 years, which will be enhanced for further period (after 10 years) with mutual consent of both the parties to the Agreement.

At maturity, within 3 years, a combined quantity of 300 MT (of the products) per year will be supplied by Aether Industries to Otsuka Chemical Co., Ltd., Japan, and hence the revenue potential for the said agreement would Rs. 510 million per year in the Large-Scale Manufacturing business model.

Aether Industries will be exclusive supplier to Otsuka Chemical Co., Ltd., Japan for the products for which the Agreement is executed.

Shares of Aether Industries Limited was last trading in BSE at Rs. 873.85 as compared to the previous close of Rs. 874.00. The total number of shares traded during the day was 2062 in over 380 trades.

The stock hit an intraday high of Rs. 877.80 and intraday low of 860.05. The net turnover during the day was Rs. 1802472.00.

Source : Equity Bulls

Keywords

AetherIndustries SpecialtyChemicals INE0BWX01014 Agreement OtsukaChemicalCo Supply Sales