Camlin Fine Sciences (CAMLINFINE) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 revenue reached INR 5,199 million, up 28% year-over-year, marking the highest-ever quarterly revenue, but margins were compressed by elevated raw material and freight costs.

• Gross margin dropped sharply, with figures reported as low as 4% sequentially and 41.2% for the quarter, mainly due to cost pressures and limited pass-through.

• EBITDA margin fell to 3.4% due to cost pressures and an exceptional item related to a Brazil unit fire insurance shortfall.

• PAT from continuing operations was negative at Rs -318 million, reflecting margin pressures and exceptional costs.

• Unaudited consolidated and standalone results for the quarter ended June 30, 2026, were approved by the Board on August 11, 2026.

Financial highlights

• Specialty Ingredients revenue exceeded INR 4,000 million, with blends contributing over INR 3,000 million and straights INR 927 million.

• Aroma segment sold 560 tons of vanillin (primarily ethyl), with 350 tons of methyl vanillin also sold; capacity utilization was suboptimal.

• Performance Chemicals & Others revenue was Rs. 1,749 million, but EBITDA margin remained negative due to high costs and plant shutdown.

• Adjusted EBITDA stood at Rs 176 million, down from Rs 203 million YoY; margin at 3.4% vs 5.0% YoY.

• Net debt reduced from INR 670 crore to INR 640 crore, mainly due to prepayment of long-term loans.

Outlook and guidance

• FY27 revenue guidance maintained at INR 2,200–2,300 crore, with EBITDA margin expected at 10–11%.

• Margins for H2 expected to improve to 13–15% as fixed costs remain stable and top-line growth continues.

• Q2 margins to improve over Q1, with all three segments expected to be positive by Q3.

• FY28 normalized EBITDA margin projected at 12–14%.

• Segment realignment and insurance recoveries are expected to support future performance.