Key Financial Performance (Consolidated)

Q1 FY27 Results:

  • Net Revenue from Operations: ₹1,045.08 Cr, up 44% YoY (from ₹725.40 Cr in Q1 FY26) and 11% QoQ (from ₹937.71 Cr in Q4 FY26)
  • Operating EBITDA: ₹357.07 Cr, up 73% YoY (from ₹206.79 Cr) and 11% QoQ (from ₹321.15 Cr)
  • Operating EBITDA Margin: 34.2%, improved by 566 bps YoY (from 28.5%) but declined 8 bps QoQ (from 34.2%)
  • Operating PBT: ₹283.27 Cr, up 101% YoY (from ₹141.20 Cr) and 13% QoQ (from ₹250.99 Cr)
  • Operating PBT Margin: 27.1%, improved by 764 bps YoY (from 19.5%) and 34 bps QoQ (from 26.8%)
  • Profit After Tax: ₹243.31 Cr, up 108% YoY (from ₹117.17 Cr) and 14% QoQ (from ₹212.62 Cr)
  • Total Comprehensive Income: ₹243.54 Cr, up 107% YoY (from ₹117.60 Cr)

Full Year FY26 Performance:

  • Net Revenue from Operations: ₹3,313.90 Cr, up 41% YoY (from ₹2,349.38 Cr in FY25)
  • Operating EBITDA: ₹1,081.68 Cr, up 103% YoY (from ₹533.72 Cr)
  • Operating EBITDA Margin: 32.6%, improved by 992 bps YoY (from 22.7%)
  • Profit After Tax: ₹663.56 Cr, up 130% YoY (from ₹288.60 Cr)

Business Vertical Performance

HPP (High Performance Products):

  • Revenue growth: 33% YoY
  • Growth driven by volume increase and higher realizations
  • Constructive pricing environment for HFC with increasing interest for contractual offtakes
  • AHF facility commenced operations in Q4 FY26 and continues ramping up

Specialty Chemicals:

  • Revenue growth: 48% YoY
  • Sustained growth with strong order visibility
  • Strong product pipeline with meaningful scale-up across existing molecules
  • Geographic mix: 62% domestic, 38% international

CDMO (Contract Development and Manufacturing Organization):

  • Revenue growth: 82% YoY
  • Strong momentum backed by order book
  • Deeper engagement with European CDMO major
  • Geographic mix: 98% international, 2% domestic
  • Balanced portfolio with mix of late/commercial and early-stage molecules
  • Focus on therapeutic areas: Oncology, Respiratory, Cardiovascular, Neurology, Animal health

Ongoing Capex Program

HFC Capacity Expansion:

  • Additional capacity equivalent to 15,000 MTPA of R32
  • Capex: ₹236.5 Cr funded by internal accruals
  • Expected commissioning: Q3 FY27
  • Peak revenue potential: ₹600-825 Cr per annum

MPP De-bottlenecking at Dahej:

  • To support launch of new molecule for global innovator
  • Purchase order received for CY26
  • Capex: ₹75 Cr funded by internal accruals
  • Targeted commissioning: Q3 FY27
  • Peak revenue potential: ₹140-160 Cr per annum

Chemours Project:

  • Initial commercial capacity for manufacturing innovative liquid cooling product
  • Capex: ₹120 Cr, with 35% funded by customer and balance through internal accruals
  • Targeted commissioning: Q2 FY27
  • Revenue potential: Under confidentiality

Renewable Power Project:

  • Investment: ₹15.73 Cr for 14.9 MW hybrid capacity across NFIL & NFASL
  • Will lead to over 60% of energy needs met from renewable sources

cGMP4 Capex:

  • Board approved ₹288 Cr capex in February 2024
  • Phase I operationalized in Q3 FY26
  • Phase II capex of ₹125 Cr expected to operationalize by Q4 FY27

Standalone Financial Performance (Q1 FY27)

  • Net Revenue from Operations: ₹694.68 Cr, up 28% YoY
  • Operating EBITDA: ₹244.98 Cr, up 59% YoY
  • Operating EBITDA Margin: 35.3%, improved by 686 bps YoY
  • Profit After Tax: ₹190.64 Cr, up 69% YoY

Research & Development

  • Total R&D spend in FY26: ₹48.71 Cr
  • 3 Modern R&D Centers: Surat (Gujarat), Dewas (MP), and Runcorn (Manchester)
  • 65 chemists and 40 engineers in Technology and Design
  • 70 team members at Dewas R&D, 18 at Runcorn MOL R&D

Sustainability Goals

  • Environmental: 100% compliance with EPR requirements for Plastic Packaging Materials achieved
  • Target: 30% reduction in carbon emissions by 2030 (base year 2023)
  • Target: 50% use of renewable electricity by 2030 (currently at 12.15%)
  • Social: 3.94% workplace diversity, targeting 10% by 2030
  • Governance: 89.24% resolution of complaints, zero cases of corruption and bribery

Corporate Governance

  • Board composition includes 9 directors with diverse expertise
  • CSR spend in FY26: ₹8.72 Cr
  • Progressive dividend track record maintained

Analyst/Investor Meeting Schedule

  • Date: September 21, 2026
  • Event: Anand Rathi: G-200 Summit 2026 - Bharat - The Next Engine of Global Growth
  • Mode: Physical interaction
  • Type: One on One & Group Meeting
  • Presentation based on publicly available information