Financial Performance Highlights

Q2 FY27 Standalone Performance:

  • Revenue from Operations: ₹274.6 Cr, up 1.6% YoY (vs ₹270.2 Cr in Q2 FY26)
  • EBITDA: ₹36.6 Cr, up 21.5% YoY (vs ₹30.1 Cr in Q2 FY26)
  • EBITDA Margin: 13.3%, improved 220 bps YoY (from 11.1%)
  • PAT: ₹26.7 Cr, up 42.4% YoY (vs ₹18.7 Cr in Q2 FY26)
  • PAT Margin: 9.7%, improved 280 bps YoY (from 6.9%)
  • EPS: ₹21.2 (vs ₹14.9 in Q2 FY26)

H1 FY27 Standalone Performance:

  • Revenue from Operations: ₹568.3 Cr, down 2.0% YoY (vs ₹579.7 Cr in H1 FY26)
  • EBITDA: ₹79.0 Cr, up 9.1% YoY (vs ₹72.4 Cr in H1 FY26)
  • EBITDA Margin: 13.9%, improved 140 bps YoY (from 12.5%)
  • PAT: ₹55.8 Cr, up 6.7% YoY (vs ₹52.3 Cr in H1 FY26)
  • PAT Margin: 9.8%, improved 80 bps YoY (from 9.0%)
  • EPS: ₹44.4 (vs ₹41.6 in H1 FY26)

Key Operational Metrics:

  • Gross Profit Margin: 50.6% in Q2 FY27 (up 480 bps from 45.8% in Q2 FY26)
  • Exports: Rose to ₹81 Cr in Q2 from ₹47 Cr YoY
  • DETC (key agrochemical intermediate) sales were lowest in 11 years in Q2 due to monsoon at 87% of normal
  • Performance Solutions, Contract Manufacturing and YP Derivatives offset agro slowdown

Balance Sheet Position (Standalone)

As of September 30, 2026:

  • Total Assets: ₹1,621.8 Cr (vs ₹1,560.1 Cr as of March 31, 2026)
  • Total Equity: ₹1,277.7 Cr (vs ₹1,221.3 Cr as of March 31, 2026)
  • Property, Plant and Equipment: ₹431.1 Cr
  • Investments: ₹447.3 Cr in other investments
  • Inventories: ₹262.3 Cr (increased from ₹129.4 Cr as of March 31, 2026)
  • Trade Receivables: ₹231.3 Cr
  • Borrowings: ₹19.0 Cr (increased from ₹0.1 Cr as of March 31, 2026)

Consolidated Financial Performance

Q2 FY27 Consolidated:

  • Revenue from Operations: ₹274.7 Cr, up 1.6% YoY
  • PAT: ₹28.9 Cr, up 36.4% YoY (vs ₹21.2 Cr in Q2 FY26)
  • PAT Margin: 10.5% (vs 7.8% in Q2 FY26)
  • EPS: ₹23.0 (vs ₹16.9 in Q2 FY26)

H1 FY27 Consolidated:

  • Revenue from Operations: ₹568.5 Cr, down 1.9% YoY
  • PAT: ₹58.4 Cr, up 6.2% YoY (vs ₹54.9 Cr in H1 FY26)
  • PAT Margin: 10.3% (vs 9.5% in H1 FY26)
  • EPS: ₹46.4 (vs ₹43.7 in H1 FY26)

Consolidated Balance Sheet:

  • Total Equity: ₹2,063.6 Cr (vs ₹1,703.0 Cr as of March 31, 2026)
  • Investments: ₹1,340.3 Cr (vs ₹999.4 Cr as of March 31, 2026)

Management Commentary

Mr. Ravi A. Shroff, Managing Director stated:

  • "Diversification strategy is delivering — Growth in Q2 revenues and EBITDA over PY despite challenging agrochemical market conditions"
  • "Performance Solutions, Contract Manufacturing and YP Derivatives offset the agro slowdown"
  • "Better realizations and cost discipline lifted EBITDA margin"
  • "Contract manufacturing ramped up and adding high margin revenue"

Sustainability Achievements

  • EcoVadis Silver rating with score of 80/100, placing company in 93rd percentile globally (September 2026)
  • Received 100/100 scores for Policies, Measures, Certifications, Coverage and Reporting
  • FICCI Awards 2026: Sustainability Leader of the Year and Make in India Champion
  • Process Intensification for Sustainability Award 2025 from ICT Mumbai

Safety Recognition

  • Maharashtra Safety Award 2025: Lowest Average Accident Frequency Rate and Longest Accident-Free Period
  • Safe-Tech Award 2026 (Roha Site): Best Employee Training Campaign & Safety Awareness Excellence
  • 2 Safety Executives recognized as "Best Safety Professional of the Year"

Outlook for H2 FY27

  • Agrochemical intermediates: Near-term demand weakness expected to persist into Q3
  • Focus on Performance Solutions, YP Derivatives and Contract Manufacturing to continue
  • Current contracts being executed; further engagements in pipeline
  • Raw material price volatility, supply availability and shipping disruptions likely to continue in H2
  • New product launches in Performance Solutions range on track for Q3
  • Internal rotations and external recruitments progressing to build talent capabilities

Manufacturing Infrastructure

  • Three integrated manufacturing sites: Roha, Lote and Visakhapatnam
  • Dedicated contract-manufacturing facility completed on schedule in July 2026 at Lote
  • ₹200-300 Cr capex planned over 3 years to scale capacity and capabilities

Corporate Structure

  • Executive Chairman: Mr. Ashwin C. Shroff
  • Managing Director: Mr. Ravi A. Shroff
  • Executive Director: Mr. Hrishit A. Shroff
  • President & COO: Mr. Pradeep Ghattu
  • CFO: Mr. Devendra Dosi
  • Company Secretary: Mr. Surendra Kumar Singhvi

Investor Relations

  • Investor Relations Advisors: Cygnus Partners Private Limited
  • Contact: Ms. Pooja Swami (+91 98602 02359)