Financial Performance Summary

Q2FY27 Consolidated Financial Results (YoY Comparison)

  • Operating Revenues: ₹429.5 Cr (vs ₹401.1 Cr in Q2FY26) - +7.0% growth
  • Gross Profit: ₹207.7 Cr (vs ₹172.8 Cr in Q2FY26) - +20.2% growth
  • Gross Margin: 48.4% (vs 43.1% in Q2FY26)
  • EBITDA: ₹64.0 Cr (vs ₹58.2 Cr in Q2FY26) - +10.0% growth
  • EBITDA Margin: 14.9% (vs 14.5% in Q2FY26)
  • PAT: ₹35.5 Cr (vs ₹32.8 Cr in Q2FY26) - +8.1% growth
  • PAT Margin: 8.3% (vs 8.2% in Q2FY26)

H1FY27 Consolidated Financial Results (YoY Comparison)

  • Operating Revenues: ₹862.9 Cr (vs ₹748.0 Cr in H1FY26) - +15.3% growth
  • Gross Profit: ₹401.7 Cr (vs ₹331.0 Cr in H1FY26) - +21.4% growth
  • Gross Margin: 46.6% (vs 44.3% in H1FY26)
  • EBITDA: ₹129.4 Cr (vs ₹113.9 Cr in H1FY26) - +13.7% growth
  • EBITDA Margin: 15.0% (vs 15.2% in H1FY26)
  • PAT: ₹75.2 Cr (vs ₹65.1 Cr in H1FY26) - +15.5% growth
  • PAT Margin: 8.7% (vs 8.7% in H1FY26)

Full Year FY26 Reference Points

  • Operating Revenues: ₹1,609.7 Cr
  • Gross Profit: ₹725.6 Cr
  • Gross Margin: 45.1%
  • EBITDA: ₹252.4 Cr
  • EBITDA Margin: 15.7%
  • PAT: ₹142.2 Cr
  • PAT Margin: 8.8%

Business Segment Performance

Chrome Metal Joint Venture

  • Entered into 50:50 joint venture with DCX Chrome SAS, France
  • Establishing high-purity Chromium Metal facility in India
  • Targeting niche aerospace and defence applications
  • Described as "one of its kind" facility

Barium Business

  • Continued stable performance
  • Ongoing initiatives focused on operational efficiency
  • Focus on achieving higher market share

South Africa Operations

  • Progressed infrastructure refurbishment
  • Engineering assessments completed
  • Contractor mobilisation underway
  • Recruitment process ongoing
  • Regulatory compliances being addressed
  • Working towards safe and stable operational restart

Sales Mix

  • Domestic sales contribution: 58%
  • Export sales contribution: 42%
  • Geographical diversification helping mitigate exposure to elevated international freight costs

Cost Structure Analysis

Logistics Costs

  • Shipping and forwarding expenses increased to 8.8% of operating revenue in Q2FY27
  • Compared to 5.9% in Q1FY27
  • Geopolitical tensions cited as primary driver of increased freight costs

Strategic Initiatives

Renewable Energy Expansion

  • Plans to add approximately 20 MW of solar capacity
  • Expansion across Visakhapatnam and Srikalahasti units
  • Supplementing existing 4.3 MW capacity
  • Objective: Enhance energy cost efficiency and sustainability

Balance Sheet & Credit Profile

Financial Position as of September 30, 2026

  • Consolidated Debt-to-Equity Ratio: 0.67x
  • Consolidated Debt-to-EBITDA Ratio: 2.8x

Credit Rating Update

  • ICRA assigned A (Stable) rating to long-term banking facilities
  • Previous rating: CARE A- (Stable)
  • Represents positive development in credit profile

Management Commentary

Mr. Krishna Murthy Ch., Chairman & Managing Director

  • Reported "another quarter of steady performance"
  • Building on momentum established during first quarter
  • Reflects resilience of business amid challenging global operating environment

Mr. Siddartha Ch., Joint Managing Director

  • Company remains positive on medium-term growth prospects
  • Maintaining balanced domestic and export sales mix
  • Sales mix provides natural hedge against rising input and logistics costs

Company Background

  • Leading global manufacturer of speciality chemicals
  • Strong market leadership position
  • Forward and backward integration capabilities
  • Produces Chromium, Barium and Strontium chemicals
  • Serves customers across 50+ countries