Financial Performance (Standalone)

Q4 FY26 Performance

  • Revenue from Operations: ₹281.1 Cr, up 13.4% YoY (Q4 FY25: ₹247.8 Cr) and 20.4% QoQ (Q3 FY26: ₹233.5 Cr)
  • Gross Profit: ₹120.1 Cr, up 7.2% YoY; Gross Profit Margin: 42.7% (vs 45.2% in Q4 FY25)
  • Adjusted EBITDA: ₹22.4 Cr, up 13.2% YoY; Adjusted EBITDA Margin: 8.0% (flat YoY)
  • Profit After Tax: ₹12.7 Cr, up 11.8% YoY; PAT Margin: 4.5% (vs 4.6% in Q4 FY25)
  • EPS: ₹10.1 (Q4 FY25: ₹9.1)

FY26 Annual Performance

  • Revenue from Operations: ₹1,094.2 Cr, up 11.88% YoY (FY25: ₹978.1 Cr)
  • Gross Profit: ₹492.4 Cr, up 4.3% YoY; Gross Profit Margin: 45.0% (vs 48.3% in FY25)
  • Adjusted EBITDA: ₹112.0 Cr, down 7.14% YoY; Adjusted EBITDA Margin: 10.1% (vs 12.3% in FY25)
  • Profit After Tax: ₹73.4 Cr, down 12.1% YoY; PAT Margin: 6.7% (vs 8.5% in FY25)
  • EPS: ₹58.4 (FY25: ₹66.4)

Balance Sheet Position (Standalone as of Mar'26)

  • Total Assets: ₹1,560.1 Cr (Mar'25: ₹1,461.0 Cr)
  • Property, plant and equipment: ₹395.7 Cr
  • Investments: ₹455.1 Cr (Non-current) + ₹123.2 Cr (Current)
  • Trade receivables: ₹261.0 Cr
  • Inventories: ₹129.4 Cr
  • Total Equity: ₹1,221.2 Cr
  • Total Liabilities: ₹338.9 Cr

Consolidated Financials

  • Total Assets: ₹2,105.3 Cr (Mar'25: ₹1,920.4 Cr)
  • Total Equity: ₹1,703.0 Cr
  • Other Investments: ₹999.4 Cr

Key Operational Highlights

  • Export revenue constituted 16% of total revenue in Q4 FY26 and 20% in FY26, growing 26% over previous year
  • Revenue growth driven by increased demand for agro chemicals intermediates and better price realization in key products
  • Volume growth in performance solutions attributed to capacity expansion in one of the Biocides
  • Margin pressure due to increase in key input material costs
  • Company maintains market share in key products and focuses on product portfolio diversification

Strategic Developments

  • New Corporate R&D Center operationalized at Rabale, Navi Mumbai during the year
  • Company planning to launch new products in biocides range in current year
  • Contract Manufacturing Projects are on track and progressing well
  • Strong demand continues for Performance Solutions products

Capital Expenditure and Capacity

  • Planned investment of ₹200-300 Crores over next three years for plant upgrades, product innovation, and capacity expansion
  • Annual maintenance capex reserve: ₹30-40 Crores per year
  • Received EC from regulatory bodies to increase production capabilities for various products including Phosphorus Pentasulphide, Diethyldithiophosphoryl Chloride, and Phosphonates
  • Upgraded waste-water treatment capabilities in line with expanded volumes
  • Added volume capabilities at Vizag facility for existing and new products

Raw Material Outlook

  • Operations continued smoothly in April-May without raw material disruptions
  • Company has been able to pass on raw material price increases in key products
  • "El Niño" forecasts raise concerns on raw material prices and agrochemical intermediates demand outlook
  • Availability and pricing of key raw materials remain a challenge
  • Company states it will be agile and proactive in responding to the situation

Adjustments and Normalization

  • EBITDA adjusted for one-time impact of past service liability (gratuity) of ₹0.39 Cr in Q4 FY26 and ₹1.54 Cr in FY26 pursuant to new labour codes
  • Adjustments made to reflect normalized operating performance