Quarterly Financial Results (Q4 FY26 Consolidated)

Revenue Performance:

  • Total Revenue: ₹144.05 Crores
  • Quarter-over-Quarter Growth: +19.40%
  • Year-over-Year Change: -5.70%

Profitability Metrics:

  • EBITDA: ₹23.02 Crores
  • QoQ EBITDA Growth: +122.19%
  • YoY EBITDA Growth: +30.20%
  • EBITDA Margin: 15.60% (vs 8.58% in Q3FY26 and 11.53% in Q4FY25)
  • Net Profit: ₹10.82 Crores
  • QoQ Net Profit Growth: +378.05%
  • YoY Net Profit Growth: +57.46%

Annual Financial Results (FY26 Consolidated)

Revenue Performance:

  • Total Revenue: ₹535.48 Crores
  • Year-over-Year Change: -4.78%

Profitability Metrics:

  • EBITDA: ₹56.53 Crores
  • YoY EBITDA Change: -6.12%
  • EBITDA Margin: 10.43% (vs 10.63% in FY25)
  • Net Profit: ₹17.78 Crores
  • YoY Net Profit Growth: +5.48%

Segment-wise Revenue Breakdown

Q4 FY26 Segment Revenue:

  • Phthalocyanine: ₹95.35 Crores
  • AZO: ₹20.86 Crores
  • API: ₹31.33 Crores

FY26 Segment Revenue:

The document shows segment headers but no specific financial values for the full year.

Management Commentary & Business Performance

Blue & API Businesses (Comment by Arjun G. Jaykrishna, CEO & Executive Director):

Phthalocyanine Pigment Business:

  • Q4FY26 showed strong performance with healthy growth in revenues and profitability
  • Modest volume growth with significant improvement driven by stronger realizations
  • Higher raw material prices amid ongoing geopolitical volatility supported realizations
  • Company positioned well to navigate evolving supply environment during global disruptions
  • Broad-based demand recovery observed during the quarter

Operating Environment Challenges:

  • Global disruptions and unstable raw material prices continue
  • Challenges in raw material supply chain persist
  • Company working on internal operational efficiencies to strengthen margin profile sustainably

API Business Performance:

  • Operated in challenging environment with elevated raw material and KSM prices
  • Geopolitical tensions drove input cost increases
  • Chinese competition added margin pressure
  • Company able to pass cost increases to customers, supporting profitability
  • Some moderation in volumes experienced
  • Delivered consistent volumetric growth of approximately 18% CAGR over last three years
  • Three-year price erosion cycle has reversed with improvement in selling prices in Q4
  • Backward integration investments provided operational stability and margin support
  • Progressing toward CEP certification by end of current financial year

Azo Business Performance (Comment by Gokul Jaykrishna, Managing Director):

  • Continued steady growth in volumetric terms despite challenging environment
  • Both API and Azo businesses achieved EBITDA positivity for full year
  • Both businesses reached cash break-even level
  • Expected to contribute meaningfully to overall profitability in coming years

Company Overview

Asahi Songwon Colors Limited is:

  • India's leading manufacturer of pigments, colorants and APIs
  • Leading player in Indian Pigment industry
  • Manufactures Beta Blue and Blue Crude
  • Also manufactures AZO pigments and APIs through subsidiaries
  • Serves diverse base of global and Indian customers
  • Over 50% of business from exports to global MNCs
  • Currently manufacturing products for over 80 international and domestic customers
  • Operates four manufacturing facilities in Gujarat, India:
  • Padra, Vadodara & Dahej, Bharuch (manufacturing Pigments)
  • Odhav, Ahmedabad & Chhatral, Gandhinagar (manufacturing APIs)