Financial Performance Highlights (H1 FY27 vs H1 FY26)

  • Revenue from operations: ₹27.5 crore, up 33.5% from ₹20.6 crore
  • Profit after tax: ₹2.3 crore, up 78% from ₹1.3 crore
  • Earnings per share (basic and diluted): ₹2.64, up 30% from ₹2.03
  • PAT margin: 8.5% compared to 6.4% in H1 FY26
  • H1 FY27 revenue represents approximately 67.5% of full-year FY26 revenue of ₹40.7 crore

Capacity Expansion Update

The new greenfield Asoda plant in Jhajjar, Haryana commenced commercial production on November 2, 2026:

  • Plant size: 80,000 sq ft located at Asoda Todran
  • Production facilities: Two reactors, one boiler, and five chemical tanks
  • Capacity addition: 4,800 MTPA of unsaturated polyester resins (UPR)
  • Total UPR capacity now: 7,760 MTPA (increased from 2,960 MTPA at Bahadurgarh)
  • Funding: Entirely from internal accruals with no new borrowings
  • Timeline: Trial runs began on October 3, 2026; commercial production started November 2, 2026

Operational Context

  • Bahadurgarh plant ran at 88% of usable capacity in FY26
  • The company manufactures 49 grades of unsaturated polyester resins
  • Through subsidiary Croda Pigments Private Limited (CPPL), produces pigment pastes, accelerators, and hardeners
  • Total product portfolio: 79 SKUs including fibreglass, curing agents, epoxy and silicone products

Future Plans and Guidance

  • Growth expected at a faster pace in coming quarters
  • FY28 will be the first full year at enlarged capacity
  • Plans to expand pigment capacity at CPPL from 382 MTPA to 973 MTPA
  • ₹8.81 crore of IPO proceeds already invested in the subsidiary as per Prospectus
  • Targeting new fabricator and OEM business across construction, automotive, electrical, marine and FRP sectors

Financial Position (Consolidated, Unaudited)

  • Net worth: ₹37.0 crore (was ₹19.6 crore at March 31, 2026)
  • Borrowings: ₹0.6 crore
  • Cash: ₹14.1 crore

Management Commentary

Mr. Ajit Singh Bawa, Managing Director, stated: "A strong first set of results as a listed company, with revenue up 33.5%, profit after tax up 78% and earnings per share up 30%. With Asoda now live, our resin capacity is 2.6 times what it was, built from internal accruals. We expect faster growth in the coming quarters, and to take Amtech's integrated resin-and-pigments offering beyond our core markets."

Additional Information

  • Company incorporated in 2002
  • Listed on BSE SME platform
  • Documents available on company website: www.amtechesters.com
  • Investor relations partner: 29o2 Advisors