Clean Science and Technology (CLEAN) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 consolidated revenue reached ₹2,993.90 million, up 22% YoY; product sales were ₹295 crore, up 23% YoY.

• H1 FY27 consolidated revenue was ₹5,678.22 million and net profit ₹1,290.75 million; newer segments contributed 22% of revenue.

• Record quarterly revenue reflected base-business growth and expanding HALS sales, while higher input costs and limited pass-through pressured margins.

• The board approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026; auditors issued unmodified limited-review conclusions.

Financial highlights

• Q2 consolidated revenue was ₹2,993.90 million versus ₹2,446.00 million YoY; net profit was ₹557.25 million versus ₹554.34 million, and diluted EPS was ₹5.24 versus ₹5.21.

• Q2 consolidated EBITDA was ₹92 crore; EBITDA margin was 31.2% versus 36.4% YoY, and PAT margin was 18.9% versus 23.2%.

• Standalone Q2 revenue rose 11% QoQ to ₹226 crore; EBITDA was ₹82 crore and PAT ₹55 crore, with margins of 36% and 24%.

• H1 consolidated revenue was ₹5,678.22 million versus ₹4,874.69 million; EBITDA was ₹188 crore and net profit ₹1,290.75 million.

• H1 standalone revenue was ₹440 crore, up 2% YoY; EBITDA declined 11% to ₹169 crore and PAT declined 9% to ₹129 crore.

Outlook and guidance

• HALS utilization is expected to rise from 30%–40% to 55%–60% over the coming quarters, mainly through higher-grade products.

• Performance Chemical 2 is targeted to begin commercial production in Q4 FY27, likely January or February, with first-year utilization of 20%–25%.

• HALS margins are expected to improve QoQ as advanced grades gain share and backward integration progresses; integrating key materials could lift margins 5%–7% in affected products.

• A 1,000-ton advanced HALS product 2020 line is planned to start by April or May; light-stabilizer adjacencies and greenfield capex are planned to support new product series.