Financial Performance (Consolidated)

Q2 FY27 (Jul-Sep 2026) Results:

  • Revenue from Operations: ₹63.9 crore, up 17% YoY (Q2FY26: ₹54.8 crore) and up 140% QoQ (Q1FY27: ₹26.6 crore)
  • EBITDA: ₹24.4 crore, up 70% YoY (Q2FY26: ₹14.3 crore) and up 253% QoQ (Q1FY27: ₹6.9 crore)
  • Profit After Tax: ₹15.2 crore, up 91% YoY (Q2FY26: ₹7.9 crore) and up 452% QoQ (Q1FY27: ₹2.7 crore)
  • EPS (basic and diluted): ₹19.38, up 91% YoY (Q2FY26: ₹10.14)
  • EBITDA Margin: 38.1% (Q2FY26: 26.1%)
  • EBITDA Margin before other income: 36.1% (Q2FY26: 25.4%)

H1 FY27 (Apr-Sep 2026) Results:

  • Revenue from Operations: ₹90.5 crore, down 8% YoY (H1FY26: ₹98.6 crore)
  • EBITDA: ₹31.3 crore, up 43% YoY (H1FY26: ₹21.9 crore)
  • Profit After Tax: ₹17.9 crore, up 62% YoY (H1FY26: ₹11.0 crore)
  • EPS (basic and diluted): ₹22.89, up 62% YoY (H1FY26: ₹14.11)

Income Mix (Consolidated)

  • Aluminium Fluoride operations: ₹63.9 crore in Q2FY27 (₹54.8 crore in Q2FY26)
  • Captive solar units: ₹0.0 crore in both Q2FY27 and Q2FY26
  • Other income: ₹1.3 crore in Q2FY27, up 234% YoY (₹0.4 crore in Q2FY26)
  • Total income: ₹65.2 crore in Q2FY27, up 18% YoY (₹55.2 crore in Q2FY26)

Operational Highlights

  • Materials cost, net of inventory change, improved to 36.4% of revenue from 48.8% in Q2FY26
  • Power and fuel expense: ₹8.7 crore (13.6% of revenue vs 13.5% in Q2FY26)
  • Employee benefit expense: ₹3.8 crore (6.0% of revenue vs 4.6% in Q2FY26)
  • Finance costs: ₹1.0 crore (vs ₹0.6 crore in Q2FY26)
  • Depreciation: ₹2.9 crore (vs ₹2.4 crore in Q2FY26)
  • Effective tax rate: 26.1% (vs 29.9% in Q2FY26)

Balance Sheet Position (as of September 30, 2026)

  • Net worth: ₹140.6 crore (vs ₹125.7 crore at March 31, 2026)
  • Net block of property, plant and equipment: ₹92.9 crore (vs ₹65.0 crore at March 31, 2026)
  • Capital work-in-progress: ₹1.8 crore (reduced from ₹22.5 crore at March 31, 2026)
  • Cash, bank balances and current investments: ₹62.9 crore (vs ₹45.0 crore at March 31, 2026)
  • Total borrowings: ₹34.3 crore (vs ₹28.5 crore at March 31, 2026)
  • Inventories: ₹29.1 crore (vs ₹21.0 crore at March 31, 2026)
  • Trade receivables: ₹18.9 crore (vs ₹10.9 crore at March 31, 2026)

Corporate Actions

  • The Board declared an interim dividend for FY27 (amount not specified in the disclosure)
  • FY26 final dividend of ₹4.00 per share was approved at the 32nd AGM on July 16, 2026, and paid during H1FY27 (amounting to ₹3.1 crore)

Management Commentary

Venkat Akkineni, Managing Director, stated: "The second quarter showed what our expanded platform can do once raw material flows. Revenue was up 17% on the year and 2.4 times the first quarter, and profit after tax nearly doubled to INR 15.2 crore. Our operating margin before other income reached 36%, helped by our contracts and a sharper conversion efficiency. FSA cost and availability remain the variable we manage most closely, and our supply arrangements and our enhanced capacity leave us well placed for the second half."

Operational Context

The recovery in Q2 follows a raw material constraint disclosed to stock exchanges on May 23, 2026, when reduced availability of hydrofluosilicic acid (FSA) led to temporary reduction in operations at the Visakhapatnam plant. The supplier reported resolution of the issue on July 15, 2026, after which operations returned toward normal levels.

Capacity and Business Overview

  • Installed capacity stands at 24,000 TPA following completion of the final expansion phase in June 2026
  • Powered in part by 4.1 MW of captive solar capacity
  • Qualified supplier to every major Indian aluminium smelter including Hindalco, Vedanta and NALCO
  • The only manufacturer of high-purity Aluminium Fluoride in Andhra Pradesh and one of fewer than five in the country