Q1 FY27 Financial Performance

Revenue from Operations: ₹151.1 crore (Q1 FY26: ₹154.2 crore)

Other Income: ₹4.0 crore (Q1 FY26: ₹11.7 crore)

Total Revenue: ₹155.1 crore (Q1 FY26: ₹165.9 crore) - Decline of 6.5% YoY

EBITDA: ₹24.1 crore (Q1 FY26: ₹35.7 crore) - Decline of 32.4% YoY

EBITDA Margin: 15.6% (Q1 FY26: 21.5%)

Profit After Tax (PAT): ₹8.9 crore (Q1 FY26: ₹15.6 crore) - Decline of 42.7% YoY

PAT Margin: 5.8% (Q1 FY26: 9.4%)

EPS: ₹15.98 (Q1 FY26: ₹27.90)

Quarterly Comparison (QoQ)

Total Revenue increased 1.7% from Q4 FY26 (₹152.5 crore)

EBITDA increased 9.7% from Q4 FY26 (₹22.0 crore)

PAT increased 35.7% from Q4 FY26 (₹6.6 crore)

Cost Structure Q1 FY27

Cost of Materials Consumed: ₹87.2 crore

Changes in Inventories: -₹14.6 crore

Total Raw Material Cost: ₹72.6 crore

Employee Expenses: ₹18.4 crore

Other Expenses: ₹39.8 crore

Depreciation: ₹10.8 crore

Finance Cost: ₹1.5 crore

Tax: ₹2.9 crore

Full Year FY26 Financial Performance

Revenue from Operations: ₹621.2 crore (FY25: ₹649.9 crore)

Total Revenue: ₹645.7 crore (FY25: ₹678.6 crore) - Decline of 4.8% YoY

EBITDA: ₹117.9 crore (FY25: ₹123.4 crore) - Decline of 4.5% YoY

EBITDA Margin: 18.3% (FY25: 18.2%)

PAT: ₹45.6 crore (FY25: ₹48.7 crore) - Decline of 6.3% YoY

PAT Margin: 7.1% (FY25: 7.2%)

EPS: ₹81.72 (FY25: ₹87.25)

Balance Sheet Highlights (Mar'26)

Total Equity: ₹767.4 crore (Mar'25: ₹745.3 crore)

Equity Share Capital: ₹5.6 crore

Other Equity: ₹761.9 crore

Total Borrowings: ₹42.5 crore (₹14.4 crore non-current + ₹28.1 crore current)

Lease Liabilities: ₹32.0 crore (₹14.9 crore non-current + ₹17.1 crore current)

Total Assets: ₹1,008.3 crore

Property, Plant and Equipment: ₹318.6 crore

Capital Work-in-Progress: ₹4.6 crore

Investments: ₹316.5 crore

Inventories: ₹50.3 crore

Trade Receivables: ₹150.3 crore

Cash and Cash Equivalents: ₹57.8 crore

Bank Balances (other): ₹57.3 crore

Cash Flow Statement (FY26)

Net Cash from Operating Activities: ₹78.5 crore

Net Cash from Investing Activities: -₹37.5 crore

Net Cash from Financing Activities: -₹39.7 crore

Net Decrease in Cash: ₹1.3 crore

Business Highlights and Challenges

  • Business environment remained dynamic with sharp escalation in key raw material prices (Sulphur and Chlorine)
  • Faced temporary challenges including elevated freight costs, increased transit time, and constrained vessel availability
  • The company remains cautiously optimistic amid evolving macroeconomic environment and ongoing West Asia conflict uncertainty

Strategic Initiatives

  • Expanding product portfolio by adding non-acid and non-alkyl chloride chemistries
  • Focus on developing innovative, higher-value-added products
  • Strengthening presence across existing customers and new end-user markets
  • Currently working on adding two polymers, one textile & polymer modifier, coatings & adhesives additives
  • Planning to add another site with options being explored
  • Expressed interest in acquisition of land in Odisha, approved by Odisha Government
  • Focused on strengthening operations through best practices, research-led innovation, and geographic expansion
  • Doubling current R&D team and infrastructure in FY27
  • Geographic expansion includes starting business with customers in Eurasia and South America
  • Added new products to domestic portfolio

Production Capacity and Capabilities

  • Multipurpose and multiproduct plants spread over 100 acres
  • Total production capacity: 66,000 MTPA
  • Facility for contract manufacturing and job work
  • Manages over 600 ISO Tanks for transportation
  • R&D facility recognized by Department of Science & Technology, Government of India
  • Approved by Maharaja Sayajirao University of Vadodara for Ph.D. research

Awards and Recognition

  • Received EcoVadis 'Gold Medal' for sustainability performance (top 5% in Chemical Sector)
  • Received Responsible Care logo certification from Indian Chemical Council (valid July 2026 to June 2029)
  • CSR Award (Large Scale Category) at 4th GEO Excellence Awards
  • Vadodara Industrial Gaurav Award for "Industry Working for Nation Building"
  • FICCI Chemical & Petrochemical Awards 2025 for:
  • Leader in Water Management
  • Sustainability Leader of the Year
  • CSR Award from Parul University

ESG and CSR Initiatives

  • Accredited with ISO 9001:2015, ISO 14001:2015, BS OHSAS 18001:2007, ISO 50001:2011
  • Full-fledged effluent management system with licensed discharge facility
  • 100 acres of land with green belt of more than 30,000 trees
  • Women Empowerment Workshops
  • Vocational Training programs
  • Health Awareness sessions (HIV, Anemia, Women's Health, Cancer)
  • Special medical check-up camps

Board of Directors

  • Mr. Ashwin C. Shroff (Chairman) - Former President of Indian Chemical Council
  • Mr. Rajeev Pandia (Independent Director) - Chemical Engineer, former Vice Chairman of Herdillia Chemicals
  • Mr. Anandmohan Tiwari (Independent Director) - Former IAS officer with 34 years experience
  • Mr. Vijay Maniar (Independent Director) - Chartered Accountant with 39 years experience
  • Ms. Rita Teaotia (Independent Director) - Former IAS officer, Commerce Secretary, FSSAI Chairperson
  • Mr. Maulik D. Mehta (Independent Director) - Executive Director & CEO of Deepak Nitrite Limited
  • Mr. Bimal Mehta (Managing Director) - Chartered Accountant with 33 years experience
  • Mr. Dipesh K. Shroff (Director) - Managing Director of Agrocel Industries Private Limited
  • Mr. Ravi A. Shroff (Director) - Managing Director of Excel Industries Limited