Key Quantitative Figures

H1 FY27 Consolidated Performance:

  • Sales: ₹2,235.8 Cr (+51% YoY)
  • Operating EBITDA: ₹764.5 Cr (+69% YoY)
  • Operating EBITDA Margin: 34.2% (+367 bps YoY)
  • Operating PBT: ₹619.2 Cr (+93% YoY)
  • Profit After Tax: ₹512.54 Cr (+93.03% YoY)

Q2 FY27 Consolidated Performance:

  • Sales: ₹1,190.74 Cr (+57% YoY, +14% QoQ)
  • Operating EBITDA: ₹407.5 Cr (+66% YoY, +14% QoQ)
  • Operating EBITDA Margin: 34.2% (+176 bps YoY, +5 bps QoQ)
  • Operating PBT: ₹336.0 Cr (+87% YoY, +19% QoQ)
  • Profit After Tax: ₹269.23 Cr (+81.46% YoY, +10.65% QoQ)

Business Vertical Revenue (H1 FY27):

  • HPP: ₹1,144 Cr (+41% YoY)
  • Specialty: ₹673 Cr (+53% YoY)
  • CDMO: ₹419 Cr (+80% YoY)

Business Vertical Revenue (Q2 FY27):

  • HPP: ₹604 Cr (+49% YoY)
  • Specialty: ₹348 Cr (+58% YoY)
  • CDMO: ₹239 Cr (+78% YoY)

Dates of Action

  • Analyst/Investor Meetings: November 16, 2026 and November 17, 2026
  • Presentation Date: October 30, 2026
  • HFO supply contract extended: 4-year extension over original 7 years

Parties Involved

  • Host: 360 One-Trinity Asia Conference
  • Customer: Solstice Advanced Materials US, Inc. (HFO supply contract)
  • European CDMO major (ongoing engagement)
  • Chemours (project partnership)

Operational Highlights

HPP Business:

  • Revenue growth led by higher volume and improved realizations
  • Firm pricing environment for HFC with QoQ increase in realization
  • HFO supply contract extended by 4 years with additional revenue potential of ~$180 million, taking total contract value to ~$590 million over 11 years
  • Capex for additional HFC capacity equivalent up to 15,000 MTPA of R32 on track for imminent commissioning

Specialty Chemicals:

  • Sustained growth with strong order visibility in H2 and beyond
  • Product pipeline scaling up across existing and new molecules
  • De-bottlenecking MPP capacity at Dahej commissioned in September 2026
  • Chemours project targeted for completion by end of Q3 FY27

CDMO Business:

  • Strong momentum backed by positive pipeline molecule developments
  • Continued engagement with European CDMO major with qualification PO received
  • Phase II cGMP4 capex of ₹125 Cr on track for operationalization by end Q4 FY27
  • Balanced portfolio with mix of late/commercial and early-stage molecules

Capex Program Details

| Project | Capex Details | Rationale | Amount & Completion | Peak Revenue Potential |

| HFC Capacity | Additional capacity up to 15,000 MTPA of R32 | Constructive global demand-supply environment | ₹236.5 Cr (internal accruals), commissioning shortly | ₹600-825 Cr per annum |

| Chemours Project | Initial commercial capacity for innovative liquid cooling product | Expanding footprint in Advanced Materials | ₹120 Cr (35% customer funded), Q3 FY27 completion | Under Confidentiality |

| Renewable Power | Investment in SPV for 14.9 MW hybrid capacity | Sustainability and decarbonization goals | ₹15.73 Cr | 60%+ energy from renewable sources |

| Advanced Materials | Adoption capacities for Advanced Materials | Incubate new business vertical | ₹90 Cr, Q2 FY28 completion | Future growth opportunity |

| Phase II - cGMP4 | cGMP4 capacity expansion | Supply chain expansion for European CDMO | ₹125 Cr, end Q4 FY27 | Asset turnover of ~3x |

Financial Position (Consolidated)

Balance Sheet (Sep 2026):

  • Total Assets: ₹6,830.59 Cr (Mar 2026: ₹6,379.12 Cr)
  • Total Equity: ₹4,462.34 Cr (Mar 2026: ₹3,974.58 Cr)
  • Deferred Tax Liabilities: ₹167.77 Cr (Mar 2026: ₹136.88 Cr)
  • Trade Receivables: ₹751.79 Cr
  • Cash & Cash Equivalents: ₹22.55 Cr

Cash Flow (H1 FY27):

  • Net Cash from Operating Activities: Not quantified
  • Cash Flow from Investing Activities: Not quantified
  • Cash Flow from Financing Activities: (₹108.83) Cr
  • Net increase in Cash: ₹25.95 Cr
  • Cash & Equivalents as at Sep 30: ₹48.50 Cr

Governance and Leadership

  • Board comprises 10 directors with diverse experience
  • No auditor qualifications, financial restatements, or repayment defaults reported
  • ESG framework guided by Responsible Care and Pharmaceutical Supply Chain Initiative principles
  • R&D spend in FY 2025-26: ₹48.71 Cr
  • Three modern R&D centers in Surat, Dewas, and Runcorn (Manchester)

Forward-Looking Information

Presentation contains forward-looking statements regarding market opportunity and business prospects subject to known and unknown risks, uncertainties, and assumptions. Company assumes no obligation to update forward-looking information.