Financial Performance Q1 FY27

  • Consolidated Revenue: ₹376.63 crore (167.10% YoY growth from ₹141.07 crore in Q1 FY26)
  • Gross Profit: ₹133.40 crore with Gross Margin of 35.42% (189 bps improvement YoY)
  • EBITDA (Excl. Other Income): ₹59.14 crore (134.70% YoY growth from ₹25.20 crore)
  • EBITDA Margin: 15.70% (268 bps decline YoY from 18.38%)
  • PBT: ₹64.74 crore (92.67% YoY growth from ₹31.49 crore)
  • PAT: ₹48.21 crore (92.67% YoY growth from ₹25.03 crore)
  • PAT Margin: 12.80% (543 bps decline YoY from 18.26%)
  • Basic EPS: ₹0.41 (compared to ₹1.09 in Q1 FY26)
  • Cost of Raw Materials: ₹243.23 crore (190.25% YoY increase)

Strategic Developments and Operational Highlights

  • Acquired 53.33% controlling stake in US-based CrudeChem Technologies (CCT Group) through subsidiary
  • Expanded manufacturing capacity at Texas facility by 70,000 MTPA, increasing total CCT capacity to 1,48,000 MTPA
  • Received subscription amount of ₹35.68 crores from conversion of 75% of outstanding warrants, with promoters exercising 5,00,000 warrants for ₹17.30 crores
  • Commenced state-of-the-art manufacturing facility with 15,000 MTPA capacity in August 2025
  • Total manufacturing capacity across all facilities: ~2,68,000 MTPA (USA: 1,48,000 MTPA, Ambernath: 76,000 MTPA, Mahape: 36,500 MTPA, Malaysia: 6,500 MTPA)

Sustainability and Certifications

  • Received EcoVadis Commitment Badge for proactive sustainability achievements
  • GreenPro Certification awarded to Cleaning and Hygiene product range
  • NABL accreditation received for the third consecutive year
  • Certified as Great Place To Work for 4th consecutive year
  • R&D spend on sustainable products: ₹336.41 lakhs in FY26
  • Solar Power Plant successfully running at Ambernath facility

Management Commentary

Executive Director Mr. Sanjay Tibrewala stated: "During the quarter, the Company delivered strong operational and financial performance, supported by the successful integration of the acquired oilfield specialty chemicals business. The acquisition has strengthened our presence in the oil and gas segment and contributed significantly to revenue growth." He noted that under Fineotex's management, US operations witnessed significant improvements in operational efficiency, capacity utilization, and execution capabilities, resulting in improved EBITDA margins.

Market Opportunities

  • North America oilfield chemicals market: $11.5 billion annual size with $575 million target market (5%)
  • Achievable target: $200+ million by 2028
  • Indian specialty textile chemicals TAM: $2.4 billion in 2025, expected to reach $3.7 billion by 2034 at 4.61% CAGR
  • Cleaning & hygiene segment TAM: $2.1 billion in 2024, projected to reach $4.5 billion by 2033 at 8.9% CAGR

Balance Sheet Highlights (FY26)

  • Shareholders Funds: ₹939.73 crore (up from ₹738.87 crore in FY25)
  • Total Assets: ₹1,159.22 crore (up from ₹814.63 crore in FY25)
  • Inventories: ₹154.61 crore (up from ₹64.48 crore)
  • Trade Receivables: ₹290.29 crore (up from ₹115.86 crore)
  • Cash & cash equivalents: ₹37.26 crore (up from ₹29.29 crore)
  • Debt Free Company status maintained