Anupam Rasayan India (ANURAS) Q4 25/26 earnings summary

Executive summary

• FY26 consolidated revenue from operations was INR 23,654.55m and net profit was INR 2,221.99m; operating cash flow reached INR 3,343.26m.

• Portfolio diversification reduced agrochemicals to 55% of standalone revenue, with growth in pharma, performance materials and other specialty applications.

• Jayhawk Fine Chemicals was acquired, while a Bliss GVS Pharma transaction was approved, extending specialty chemicals, CDMO and pharma capabilities.

Financial highlights

• Q4 FY26 consolidated revenue was INR 6,357.83m and total income was INR 6,392m; EBITDA was INR 1,407m, down 6% YoY, and PAT was INR 559.96m, down 11%.

• FY26 consolidated revenue from operations was INR 23,654.55m versus INR 14,369.74m in FY25; total income was INR 23,836m.

• FY26 consolidated EBITDA was INR 5,430m and PAT was INR 2,221.99m, up 32% and 39% YoY, respectively.

• Standalone FY26 revenue was INR 16,755.67m and PAT was INR 1,613.96m, versus INR 8,958.99m and INR 726.74m in FY25.

• FY26 operating cash flow was INR 3,343.26m versus cash used of INR 301.25m in FY25; investing cash outflow was INR 8,202.38m.

Outlook and guidance

• Signed LOIs and contracts totaled INR 14,646 crore; listed projects include planned commercialization in FY27 and FY28.

• Management cited an order book of INR 14,000 crore and estimated INR 1,700–1,800 crore of annual incremental revenue potential from the pipeline.

• Standalone revenue growth of 20%–25%, or 30% CAGR over 3–5 years, was described as an ambition; pharma and polymer are expected to outgrow agro.

• Existing standalone gross block could support INR 3,500 crore of revenue; current capacity is sufficient for near-term growth.

• Blended EBITDA margins are expected to remain within the FY26 range, with upward bias as pharma and polymer products ramp; no specific uplift was guided.