Consolidated Financial Results (Q1 FY27 vs Q1 FY26)

  • Revenue from operations: ₹15,780 million (up 15.9% from ₹13,612 million)
  • EBIDTA: ₹2,440 million (up 25.8% from ₹1,940 million)
  • EBIDTA margin: 15.5% (vs 14.3%)
  • PBT: ₹1,628 million (up 48.3% from ₹1,098 million)
  • PBT margin: 10.3% (vs 8.1%)
  • PAT (Before OCI): ₹1,202 million (up 51.8% from ₹792 million)
  • PAT margin: 7.6% (vs 5.8%)
  • Cash Profit: ₹1,956 million (up 29.5% from ₹1,511 million)
  • Cash Profit margin: 12.4% (vs 11.1%)
  • Basic/Diluted EPS: ₹4.47 (up 48.0% from ₹3.02)

Segment-wise Performance

Plumbing Business (Pipes, fittings, water tanks, bathware)

  • Revenue: ₹10,505 million (up 10.1% from ₹9,539 million)
  • Segment EBIDTA: ₹1,983 million (up 26.7% from ₹1,565 million)
  • Segment EBIDTA margin: 18.9% (vs 16.4%)
  • Sales volume: 56,146 M.T. (flat at 0.1% growth from 56,074 M.T.)
  • Bathware business: Grew 18.1% in sales

Paints and Adhesives Business

  • Revenue: ₹5,275 million (up 29.5% from ₹4,073 million)
  • Segment EBIDTA: ₹457 million (up 21.9% from ₹375 million)
  • Segment EBIDTA margin: 8.7% (vs 9.2%)

Operational Highlights

Plumbing Business Updates

  • Industry demand declined approximately 10% due to polymer price volatility
  • Company achieved flat volume growth while gaining market share
  • Realization improved due to pricing, contributing to 10.1% value growth
  • Pipes and fittings production capacity increased from 417,645 M.T. to 421,497 M.T.
  • New CPVC Resin plant (40,000 M.T. Phase I) on schedule for December completion with trial runs in Q4 FY27
  • Expected benefits: market share gains and margin improvement from FY28 onwards

Paints and Adhesives Business Updates

Adhesives - Domestic:

  • New Bharat expanded rural reach adding 8,000+ towns, direct dealers exceeded 1,500 (500+ additions in Q1)
  • Joinery business established presence across 8 states
  • Modern Trade and digital commerce platforms expanded
  • Construction Chemicals growth driven by Trubuild relaunch and tile adhesives expansion
  • Adhesive India Business grew 24.9% in sales with EBIDTA margin of 12.2%

Adhesives - International:

  • Grew 26% in sales with positive EBIDTA margin of 4.9%
  • Exceeded guidance of 10%+ revenue growth

Specialty Chemicals:

  • Astral Chemie Limited (wholly owned subsidiary) acquired 60% partnership interest in Differentiated & Sustainable Solutions LLP (DSS) for ₹391 million
  • Acquisition effective from April 1, 2026
  • DSS develops technologies for specialty chemicals & materials used in composites, coatings, adhesives, and energy segments
  • Contributed ₹67 million sales revenue and ₹9 million EBIDTA in Q1

Paints:

  • Grew 48.7% in sales (first time in history) with EBITDA break-even
  • All six operating states contributed to growth
  • Launched Extura Vivid exterior emulsion with segment-first features

Financial Position

  • Consolidated cash and bank balances as of June 30, 2026: ₹4,666 million