Devson Catalyst Limited (BSE SME: 544823) announced its unaudited financial results for the half year ended September 30, 2026 (H1 FY27).

Financial Performance Highlights (₹ lakhs)

Revenue from Operations: ₹3,168.78 lakh in H1 FY27 vs ₹3,133.20 lakh in H1 FY26, showing 1.14% YoY growth.

EBITDA: ₹971.62 lakh in H1 FY27 vs ₹882.25 lakh in H1 FY26, reflecting 10.13% YoY growth.

EBITDA Margin: 30.66% in H1 FY27 vs 28.16% in H1 FY26, expanding by 250 basis points.

Profit After Tax (PAT): ₹750.36 lakh in H1 FY27 vs ₹663.33 lakh in H1 FY26, registering 13.12% YoY growth.

PAT Margin: 23.68% in H1 FY27 vs 21.17% in H1 FY26, improving by 251 basis points.

Geographical Revenue Mix

Domestic Sales: 93.28% of total revenue in H1 FY27 (vs 57.05% in H1 FY26)

Export Sales: 6.72% of total revenue in H1 FY27 (vs 42.95% in H1 FY26)

The decline in export sales contribution was due to ongoing supply chain disruptions in the Middle East, particularly affecting shipments to key export markets in the region. The Company continues to have active export orders in hand, reflecting sustained demand from international customers.

Product Revenue Mix (₹ lakhs)

Ceramic Balls: ₹381.35 lakh in H1 FY27 (vs ₹1,345.30 lakh in H1 FY26)

Adsorbents: ₹249.53 lakh in H1 FY27 (vs ₹428.52 lakh in H1 FY26)

Catalyst: ₹2,531.80 lakh in H1 FY27 (vs ₹1,326.22 lakh in H1 FY26)

Higher-margin catalysts emerged as a key growth driver, supporting improved profitability through favorable product mix.

Key Business Updates

Order Book: The Company had a strong confirmed order book of over ₹28 crore as of October 31, 2026, with orders scheduled for execution by March 2027.

New Product Commercialization: The Company successfully commercialized its newly developed Ammonia Decomposition Catalyst through in-house R&D and received commercial orders from NMDC and Tata Steel Limited following successful customer evaluation and application.

Facility Expansion: The Company paid an advance of ₹1.07 crore towards construction of the factory shed for its new manufacturing facility. Development work is progressing, with expected operationalization by Q1 FY28 to enhance manufacturing capacity.

Cash Flow: Generated ₹6.37 crore in net operating cash flow during H1 FY27.

Management Commentary

Mr. Savan Prahladbhai Patel, Managing Director, commented on the improved profitability being driven by higher sales in the Catalyst Segment. He noted that the successful IPO completion marks an important milestone that will support establishment of the new manufacturing facility and strengthen long-term working capital requirements. The Company remains focused on expanding production infrastructure, strengthening customer relationships, and enhancing product offerings across the catalyst industry.

About the Company

Devson Catalyst Limited manufactures and supplies catalysts, adsorbents and ceramic balls used in industrial processes. The Company serves customers across 22 Indian States/UTs and exports to more than 15 countries, with planned capacity expansion to 11,293 MTPA. Key end-use sectors include oil and gas refining, petrochemical and chemical manufacturing, natural gas processing and hydrogen, fertilizers, steel, environmental and emission control, and specialty chemicals and pharmaceuticals.