Date: 19 October 2026
KMP / Board / Auditor Changes
Not Specified
Dividend Declaration or Non-Declaration
Not Specified
Board Meeting Outcomes
Not Specified
Financial Results (Standalone & Consolidated)
Q2 FY27 Consolidated Performance (₹ Mn):
- Revenue from Operations: 2,173 (Q2FY26: 1,235, +76% YoY; Q1FY27: 1,671, +30% QoQ)
- Total Income: 2,191 (Q2FY26: 1,245, +76% YoY; Q1FY27: 1,698, +29% QoQ)
- EBITDA (Excl. Other Income): 407 (Q2FY26: 222, +83% YoY; Q1FY27: 323, +26% QoQ)
- EBITDA Margin: 19% (Q2FY26: 18%; Q1FY27: 19%)
- Profit Before Tax: 289 (Q2FY26: 137, +112% YoY; Q1FY27: 211, +37% QoQ)
- Profit After Tax: 215 (Q2FY26: 99, +116% YoY; Q1FY27: 160, +34% QoQ)
H1 FY27 Consolidated Performance (₹ Mn):
- Revenue from Operations: 3,844 (H1FY26: 2,404, +60% YoY)
- Total Income: 3,889 (H1FY26: 2,425, +60% YoY)
- EBITDA (Excl. Other Income): 730 (H1FY26: 395, +85% YoY)
- EBITDA Margin: 19% (H1FY26: 16%)
- Profit Before Tax: 501 (H1FY26: 228, +120% YoY)
- Profit After Tax: 374 (H1FY26: 166, +126% YoY)
Historical Financial Performance (₹ Mn):
| Fiscal Year | Revenue | PAT | PAT % | EBITDA | EBITDA % | EPS (₹) |
| Mar-21 | 3,003.59| 522.62| 17% | 664.36 | 22% | 26.02 |
| Mar-22 | 4,336.47| 958.74| 22% | 1,082.35| 25% | 44.59 |
| Mar-23 | 4,236.12| 454.87| 11% | 605.81 | 14% | 20.52 |
| Mar-24 | 3,935.04| 303.54| 8% | 681.96 | 17% | 13.26 |
| Mar-25 | 3,827.14| 57.13 | 1% | 342.13 | 9% | 2.44 |
| Mar-26 | 5,058.58| 420.54| 8% | 931.58 | 18% | 17.98 |
| Sep-26 | 3,843.75| 374.32| 10% | 729.85 | 19% | 16.00 |
Balance Sheet Highlights as of 30-Sep-26 (₹ Mn):
- Fixed Assets: 5,887.96
- Capital work-in-progress: 428.27
- Inventory: 2,489.10
- Trade Receivable: 1,783.77
- Cash and cash equivalents: 152.05
- Total Assets: 11,187.30
- Tangible Net Worth: 8,146.51
- Short-term Borrowings: 1,655.30
- Trade payables: 855.24
Corrected Financial Metrics (Annexure):
| Particulars | H1FY27 (Updated) | H1FY27 (Earlier) |
| RoE (IN %) | 6.3% | 2.6% |
| Debt to EBIDTA (x) | 1.16* | 4.30 |
*Debt to EBITDA is annualized figure
Disinvestment / Strategic Actions
Not Specified
Operational Highlights:
- Company achieved highest-ever quarterly turnover in Q2 FY27
- Revenue growth driven by Structured Directing Agents (SDA) business which contributes 40% of revenue
- Phase Transfer Catalysts (PTC) contribute 23% of revenue with ₹881 Mn in H1FY27
- Electrolyte Salts & Solutions contribute 3% of revenue with ₹132 Mn in Q1FY27
- Pharmaceuticals and Agrochemicals Intermediates contribute 32% of revenue with ₹1,247 Mn in Q1FY27
Business Segment Performance:
- SDA: Revenue of ₹2,045 Mn in FY26, ₹1,546 Mn in H1FY27
- PTC: Revenue of ₹1,173 Mn in FY26, ₹881 Mn in H1FY27
- Electrolyte Salts: Revenue of ₹165 Mn in FY26
- Pharma/Agro Intermediates: Revenue of ₹1,623 Mn in FY26
Market Position:
- #1 producer of electrolyte salts for super capacitor batteries in India
- #2 largest manufacturer of SDAs for Zeolites globally
- Largest producer of Glymes in India and third largest in the world
Challenges and Outlook:
- Temporary margin pressure due to 60-100% price increase in solvents and 100%+ increase in global freight costs
- Expect normalization of cost pressures in Q3 FY27
- Revenue growth momentum expected to continue with improving EBITDA margins
- New greenfield project progressing as per schedule
Manufacturing Capacity:
- Combined installed reactor capacity of 791KL & 39 Assembly Lines as on 31 March 2026
- Plants located at Ankleshwar and Dahej SEZ, Gujarat
- R&D facility at Vadodara with 56 employees including 26 scientists
Export Markets:
- Exports constitute 75% of revenue in FY26
- Customer base spanning over 30 countries including USA, UK, China, Germany, Japan and South Africa
- Overseas subsidiaries in USA & Netherlands
Other Operational / Legal / Strategic Disclosures
- Credit Rating: CRISIL A-/ Stable & A2+
- Listed on NSE and BSE on 29 July 2021
- Market Cap: ₹41,736 Mn as on 30 September 2026
- Promoter holding: 72.02%