Anupam Rasayan India (ANURAS) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 consolidated revenue from operations was ₹4,858.27 million, up 91% YoY; EBITDA including other revenue rose 118% to ₹1,292 million and PAT reached ₹484.58 million.

• Order book stood at ₹14,646 crore following new agreements and LOIs.

• Management expected FY26 revenue growth of 30%+, citing growth across agro, pharma and polymer and steady growth in personal care.

Financial highlights

• Consolidated revenue from operations was ₹4,858.27 million vs ₹2,541.98 million in Q1 FY25; PAT was ₹484.58 million vs ₹122.11 million.

• Consolidated total revenue was ₹4,907 million vs ₹2,603 million; EBITDA including other revenue was ₹1,292 million vs ₹592 million.

• Consolidated net profit attributable to owners was ₹340.36 million vs ₹39.16 million; owners’ EPS was ₹3.10 vs ₹0.36.

• Standalone revenue from operations was ₹3,156.94 million vs ₹1,639.52 million; EBITDA including other revenue was ₹991 million vs ₹425 million and PAT was ₹296.94 million vs ₹14.15 million.

• Exports accounted for 58% of revenue from operations; the presentation’s 48% figure was clarified as a typographical error.

Outlook and guidance

• FY26 revenue growth of 30%+ was expected; incremental margin profile was guided at 25%-27%, with the tax rate expected to track its historical average.

• LOI-linked revenue was expected at INR 450 crore-INR 500 crore this year, roughly double last year’s contribution, with similar growth expected next year.

• Performance materials were expected to reach 15%-20% of revenue this year and 20%-25% over the next 2-3 years.

• Working capital cycle target was to return to FY24 levels by year-end, with net working capital targeted at 180 days over the next two years.

• Growth plans include signed LOIs and contracts, fluorination chemistry and pharma and polymer portfolios; pipelines include 30+ pharma and 35+ polymer/electronic chemicals molecules in R&D and pilot stages.