Company and Document Details

Quarterly Financial Performance (Q1 FY27)

Revenue from Operations: ₹187.2 crore (Q1 FY26: ₹176.0 crore; Q4 FY26: ₹193.1 crore)

Growth: 6.3% YoY increase, 3.1% QoQ decline

Cost of Goods Sold: ₹118.3 crore (Q1 FY26: ₹108.8 crore)

Gross Profit: ₹68.9 crore (Q1 FY26: ₹67.2 crore)

Gross Margin: 36.8% (Q1 FY26: 38.2%; Q4 FY26: 36.2%)

EBITDA: ₹28.6 crore (Q1 FY26: ₹29.0 crore; Q4 FY26: ₹30.3 crore)

EBITDA Margin: 15.3% (Q1 FY26: 16.5%; Q4 FY26: 15.7%)

EBIT: ₹24.7 crore (Q1 FY26: ₹26.0 crore; Q4 FY26: ₹26.1 crore)

EBIT Margin: 13.2% (Q1 FY26: 14.8%; Q4 FY26: 13.5%)

Profit Before Tax: ₹23.8 crore (Q1 FY26: ₹24.6 crore; Q4 FY26: ₹25.0 crore)

PBT Margin: 12.7% (Q1 FY26: 14.0%; Q4 FY26: 12.9%)

Profit After Tax: ₹16.8 crore (Q1 FY26: ₹19.4 crore; Q4 FY26: ₹18.0 crore)

PAT Margin: 9.0% (Q1 FY26: 11.0%; Q4 FY26: 9.3%)

EPS: ₹8.43 (calculated on weighted average basis considering additional shares issued pursuant to QIP on June 25, 2026)

Key Performance Drivers

  • Revenue growth primarily driven by higher capacity utilization and increased contribution from Solar Grade DHF
  • Raw material costs increased YoY due to higher sulphur prices
  • Operating EBITDA impacted by elevated fuel costs, largely attributable to geopolitical situation in West Asia
  • PAT affected by lower operating profit and impact of deferred tax adjustments during the quarter
  • Effective tax rate expected to normalize over coming quarters

Capital Raising and Strategic Initiatives

QIP Completion: Successfully raised ₹250 crores through Qualified Institutional Placement in June 2026

Preferential Issue: Proposed preferential issue of ~₹100 crores led by promoter Anupam Rasayan India Limited

Balance Sheet Impact: Capital raise transformed balance sheet, making TANFAC net debt-free

HFC-32 Refrigerant Gas Project

Project Scale: 20,000 MTPA capacity

Total Investment: Approximately ₹390 crores

Commissioning Timeline: On track for commissioning by end of Q3 FY27

Strategic Purpose: Downstream integration and establishment in high-growth refrigerant gas market

Long-term Supply Agreements

Japanese Customer: 7,500 MTPA fluorinated product contract valued at ₹337.5 crores per annum for 7 years

Multinational Company MoU: 5,000 MTPA key fluorinated product supply valued at ₹250 crores per annum for 5 years, starting January 2027

Leading AC Company: Long-term indefinite agreement for fluorinated product supply valued at ₹61 crores per annum

Total Contract Value: ~₹649 crores per annum across 12,500+ MTPA capacity

Historical Financial Performance (Annual)

FY26 Revenue: ₹711.1 crore (FY25: ₹557.0 crore; FY24: ₹378.1 crore; FY23: ₹374.9 crore)

FY26 PAT: ₹70.1 crore (FY25: ₹88.1 crore; FY24: ₹52.5 crore; FY23: ₹56.1 crore)

FY26 EPS: ₹35.16 (FY25: ₹44.18; FY24: ₹26.31; FY23: ₹28.14)

Management and Governance

Company Structure: Joint Sector Company with TIDCO and Anupam Rasayan India Ltd.

Key Management: Mr. Afzal Malkani (Managing Director), Dr. L. Ravichandran (Whole-Time Director & Head – R&D), Mr. Hemango Gupta (Chief Executive Officer), Mr. N. R. Ravichandran (President & CFO)

Board Composition: Includes Dr. D. Karthikeyan (IAS) as Chairperson and multiple independent directors

Operational Capabilities

Manufacturing Locations: 14, SIPCOT Industrial Complex, Cuddalore – 607 005, Tamil Nadu

R&D Focus: Fluorination techniques, organic synthesis, product innovation with pilot plant capabilities

Certifications: TPM Excellence Award, ISO 9001:2000, ISO 14001:1996

Global Partnerships: Buss Chemtech (Switzerland), Chenco (Germany), Japanese refrigerant gas tie-up

Forward Outlook

While near-term external headwinds persist from elevated sulphur prices and geopolitical situation, long-term growth outlook remains robust. Company is evaluating opportunities to expand downstream fluorinated chemicals, enter next-generation fluorochemicals, and strengthen backward integration.