Gujarat Fluorochemicals (FLUOROCHEM) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 consolidated revenue rose 45% YoY to INR 1,760 crore, EBITDA increased 32% to INR 473 crore and PAT grew 42% to INR 240 crore.

• Growth was led by fluorochemicals and fluoropolymers; the strategy also advances an integrated advanced battery materials platform.

• H1 FY27 consolidated revenue reached INR 3,348 crore and PAT INR 459 crore; statutory auditors issued unmodified limited-review conclusions.

Financial highlights

• Consolidated revenue rose 11% QoQ to INR 1,760 crore from INR 1,588 crore; EBITDA increased 10% to INR 473 crore from INR 428 crore.

• Q2 FY27 PAT increased 10% QoQ to INR 240 crore from INR 219 crore; consolidated PBT was INR 339 crore versus INR 240 crore YoY.

• Chemical segment revenue rose 42% YoY to INR 1,723 crore; EBITDA increased 33% to INR 505 crore and PAT rose 46% to INR 290 crore.

• Standalone Q2 FY27 revenue was INR 1,700 crore and PAT INR 309 crore; H1 revenue was INR 3,002 crore and PAT INR 510 crore.

Outlook and guidance

• Fluoropolymer growth is expected at 17%-20% annually, supported by volume growth and a rising contribution from higher-value specialty applications.

• Initial R-32 capacity is expected to reach full utilization by Q3 FY27; R-134a production is expected to begin in Q4 FY27.

• LiPF6 capacity is expected to approach full utilization around Q1 FY28; larger LFP capacity is expected to start toward Q3 FY28.

• Domestic electrolyte revenue is expected in H2 FY28, with the ramp dependent on customer qualification and domestic cell-market progress.

• Battery materials targets remain 2x asset turns and 25% EBITDA margin, with an INR 6,000 crore investment plan.