• Event Type: The document is a transcript of a post-results earnings conference call for Q2 and H1 FY27, held on October 29, 2026.
  • Date and Time: The call was held on October 29, 2026. A specific time was not mentioned in the transcript.
  • Purpose: The stated purpose was to discuss the company's financial and operational performance for the second quarter and first half of the financial year ending March 2027 (FY27).
  • Earnings Announcement Timing: The call was held after the earnings announcement, as referenced by the management's opening remarks asking participants if they had reviewed the published financial results.
  • Management Participants: The following management representatives were present:
  • Mr. Rahul R. Agrawal, Managing Director
  • Mr. Bhupesh P. Porwal, Chief Financial Officer
  • Mr. Chintan Doshi, Senior Manager – Legal & Company Secretary
  • Availability of Materials: The company confirmed that the investor presentation and financial results were already available on the company website and stock exchanges. The audio recording of the call was uploaded to the stock exchanges on October 29, 2026, and the transcript was subsequently filed and made available on the company's website under Investors > Earnings Call > Call recordings & Transcripts.
  • UPSI Statement: The call began with a standard disclaimer reminding participants that the discussion was subject to the disclaimer mentioned in the investor presentation, indicating no unpublished price sensitive information (UPSI) would be shared.

Financial Highlights & Strategic Themes:

  • Financial Period Discussed: Q2 FY27 (Quarter ended September 2026) and H1 FY27 (Half-year ended September 2026).
  • Standalone (India) Financials for Q2 FY27:
  • Total Income: INR 781 crores (Growth of 26.5% YoY)
  • EBITDA: INR 84.5 crores (Growth of 3.3% YoY)
  • EBITDA Margin: 10.8%
  • Profit After Tax (PAT): INR 51.2 crores (Growth of 0.8% YoY)
  • Sales Volume: 43.4 KT
  • Standalone (India) Financials for H1 FY27:
  • Total Income: INR 1,551 crores (Growth of 15.8% YoY)
  • EBITDA: INR 286 crores (Growth of 70% YoY)
  • EBITDA Margin: 18.4%
  • Profit After Tax (PAT): INR 188.5 crores (Growth of 78.4% YoY)
  • Sales Volume: 82.4 KT
  • Consolidated (India + Thailand) Financials for Q2 FY27:
  • Total Income: INR 997 crores
  • EBITDA: INR 75.6 crores
  • EBITDA Margin: 7.6%
  • Profit After Tax (PAT): INR 23 crores
  • Sales Volume: 55.1 KT
  • Consolidated (India + Thailand) Financials for H1 FY27:
  • Total Income: INR 2,009.8 crores
  • EBITDA: INR 299.2 crores
  • EBITDA Margin: 14.9%
  • Profit After Tax (PAT): INR 161.5 crores
  • Sales Volume: 106 KT

Forward-Looking Statements & Strategic Updates:

  • Expansion (Phase 1): The Phase 1 expansion plan remains on track and is expected to be commissioned within the current financial year (FY27). This expansion encompasses capacity additions at three plants: Nandesari (rubber), Katol (SAN), and Moxi (compounding).
  • Thailand Business Outlook: Management stated that the performance of the Thailand subsidiary is expected to remain consistent with FY26 levels for the next two years. A turnaround is anticipated after this period, driven by executed cost-restructuring projects aimed at improving rubber efficiency and production costs.
  • Volume Guidance: The company does not provide formal forward volume guidance. However, management expressed confidence in running the new Indian capacities at high utilization post-commissioning and expects a gradual volume increase in Thailand.
  • Phase 2 Expansion: Work on the Phase 2 ABS expansion in India is planned to commence after Phase 1 is online, with no announced delays to the original timeline.
  • New Product Launches: The company has launched and commercialized two new specialty grades: ASALAC (an ASA product for automotive, EV, and solar applications) and STYROLOY (blends of polycarbonate ABS and nylon ABS).
  • Market Context: Management cited a volatile global operating environment driven by geopolitical developments affecting crude oil prices and creating macroeconomic uncertainties. The company's strategy focused on navigating input cost volatility and maintaining operational efficiency.

Additional Notes Section

  • Attachments: The regulatory filing intimates that the transcript was an attachment to the letter sent to the exchanges. The original invite for the earnings call was sent on October 26, 2026.
  • Financial Data: This announcement itself contained a comprehensive summary of financial figures from the earnings call transcript.
  • Logistics: Dial-in numbers and access codes were not included in this transcript.