Acutaas Chemicals (ACUTAAS) Q3 25/26 earnings summary

Executive summary

• Achieved strong Q3 FY26 growth with revenue from operations nearing INR 400 crore and profit after tax surpassing INR 100 crore, driven by CDMO and pharmaceutical intermediates, with record-high margins and robust operational efficiency.

• Battery chemicals and semiconductor chemicals verticals are scaling with ongoing capital investments, expected to become independent growth engines by FY 2028.

• Unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025, were approved and reviewed without modifications by statutory auditors.

• The company operates in custom synthesis and manufacturing of specialty chemicals for pharmaceuticals and other applications.

• Revenue growth guidance for FY26 revised upward from 25% to 30% due to a healthy order book and improved visibility.

Financial highlights

• Q3 FY26 revenue from operations reached INR 393.2 crore (₹3,932 Mn), up 43% year-over-year; EBITDA at INR 150.7 crore (₹1,507 Mn), up 119.4% YoY; PAT at INR 106.2 crore (₹1,062 Mn), up 133.7% YoY.

• Gross margin improved to 57% in Q3 FY26 from 46.2% in Q3 FY25; EBITDA margin rose to 38.3% from 25%.

• Nine-month FY26 revenue was INR 906.6 crore (₹9,066 Mn), up 29.8% YoY; nine-month PAT was INR 222.1 crore (₹2,221 Mn), up 127.3% YoY.

• Net cash and cash equivalents stood at INR 129.5 crore as of 31 December 2025.

• Basic EPS (consolidated) for Q3 FY26: ₹13.19; nine months: ₹27.42.

Outlook and guidance

• Revenue growth guidance for FY26 revised upward to 30%; EBITDA margin guidance upgraded to 32–35%.

• Each business vertical (pharma intermediates, battery chemicals, semiconductor chemicals) expected to become self-sustaining growth engines by FY 2028.

• CDMO business expected to reach INR 1,000 crore by FY 2028, with four validated products and a strong pipeline.

• Battery chemicals business to ramp up from Q1 FY27, with new products contributing from mid-FY27.

• Semiconductor chemicals segment expected to generate meaningful revenue from FY 2028.