Key Financial Figures - Q2 FY27 (Consolidated)

  • Revenue from Operations: ₹4,914.7 million, an increase of 9.15% Year-over-Year (YoY) from ₹4,502.6 million in Q2 FY26.
  • Raw Material Consumption: ₹2,956.9 million (60.2% of revenue), significantly higher than ₹2,411.1 million in Q2 FY26.
  • Employee Cost: ₹722.7 million.
  • Other Expenses: ₹1,212.8 million.
  • EBITDA: ₹22.3 million, a sharp decline from ₹356.3 million in Q2 FY26.
  • EBITDA Margin: 0.45%, down from 7.91% in Q2 FY26.
  • Adjusted EBITDA*: ₹22.3 million (adjusted for FX loss).
  • Finance Cost: ₹205.9 million.
  • Depreciation: ₹199.2 million.
  • Exceptional Item: Expense of ₹19.3 million.
  • Profit Before Tax (PBT) from Continuing Operations: Loss of ₹(348.9) million, compared to a profit of ₹40.3 million in Q2 FY26.
  • Tax: Credit of ₹(68.1) million.
  • Profit After Tax (PAT) from Continuing Operations: Loss of ₹(280.8) million, compared to a loss of ₹(18.7) million in Q2 FY26.
  • PAT including Discontinued Operations: Loss of ₹(297.0) million, compared to a loss of ₹(149.5) million in Q2 FY26.

*EBITDA is adjusted for FX loss.

Key Financial Figures - H1 FY27 (Consolidated)

  • Revenue from Operations: ₹10,113.4 million.
  • EBITDA: ₹151.0 million.
  • EBITDA Margin: 1.49%.
  • Adjusted EBITDA*: ₹198.8 million.
  • PAT including Discontinued Operations: Loss of ₹(633.2) million.

Segmental Performance - Q2 FY27

  • Specialty Ingredients - Straights: Revenue of ₹1,108 million (26% YoY growth); EBITDA margin of 8.04%.
  • Specialty Ingredients - Value Added Blends: Revenue of ₹2,970 million (25% YoY growth).
  • Aroma Ingredients: Revenue of ₹472 million (41% YoY decline); EBITDA margin of (23.1)%.
  • Performance Chemicals & Others: Revenue of ₹1,857 million; EBITDA margin of (10.6)%.

*Includes intersegment transactions.

Segmental Performance - H1 FY27

  • Specialty Ingredients - Straights: Revenue of ₹2,036 million.
  • Specialty Ingredients - Value Added Blends: Revenue of ₹6,056 million.
  • Aroma Ingredients: Revenue of ₹1,246 million.
  • Performance Chemicals & Others: Revenue of ₹3,606 million.

Operational Highlights & Rationale for Performance

  • Gross Margin: Declined to 39.8% from 46.5% in Q2 FY26 due to elevated raw material prices and limited price pass-through to customers.
  • Liquidity Issues: Cited as a factor that further impacted EBITDA performance.
  • Non-Operational Unit: The Diphenol plant in Dahej remained non-operational but incurred ₹51 million in maintenance expenses during the quarter.
  • Aroma Segment: Revenue decline was attributed to a changeover to Methyl Vanillin production in mid-August 2026, leading to lower plant utilization and higher unabsorbed costs.
  • Operating Environment: Profitability was impacted by higher freight expenses, extended transit times, and longer working capital cycles.

Strategic Acquisition

  • The company acquired an additional 11% stake from a minority shareholder of Vinpai S.A. for ₹201 million.
  • This acquisition increased Camlin's total shareholding in Vinpai S.A. to 94.82%.

Balance Sheet Snapshot (as of September 30, 2026)

  • Total Equity: ₹9,313.6 million (Mar-26: ₹10,008.1 million).
  • Total Borrowings (Non-Current + Current): ₹6,293.6 million (Mar-26: ₹6,680.8 million).
  • Cash and Cash Equivalents: ₹495.0 million (Mar-26: ₹1,085.6 million).
  • Bank Balances: ₹191.8 million (Mar-26: ₹446.7 million).
  • Inventories: ₹5,805.4 million (Mar-26: ₹5,037.4 million).
  • Trade Receivables: ₹3,371.7 million (Mar-26: ₹3,730.2 million).
  • Total Assets: ₹22,676.6 million (Mar-26: ₹23,239.1 million).

Outlook and Forward-Looking Statements

  • Blends: Growth momentum is expected to continue across all geographies. Vitafor and Vinpai integrations are expected to stabilize.
  • Aroma: Anticipates an improvement in volumes and realizations over the coming quarters.
  • External Challenges: Ongoing logistics disruptions and inflationary pressures are expected to weigh on operations in the near term.
  • Fundraise: The board has approved a fundraise through a rights issue of up to ₹2,500 million to address liquidity challenges.

The presentation contains standard forward-looking statements subject to risks and uncertainties regarding fluctuations in earnings, ability to manage growth, competition, economic conditions, and government policies.