India Glycols (500201) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 consolidated revenue from operations was ₹2,988.44 crore versus ₹2,503.12 crore YoY; net revenue was ₹1,130 crore, up 9%, EBITDA ₹169.94 crore, up 13%, and PAT ₹96.83 crore, up 32%.

• Growth and profitability improved across the diversified portfolio, led by Biopharma and Chemicals; Bio Fuel revenue declined YoY. NCLT sanctioned the demerger scheme on 17 July 2026.

Financial highlights

• Standalone revenue from operations was ₹2,986.92 crore and PAT ₹76.59 crore; standalone EBITDA was ₹170.30 crore and PBT ₹102.64 crore.

• Consolidated PBT was ₹122.88 crore; total income was ₹2,988.82 crore, EPS ₹14.45 and PAT margin 8.6%, up 153 bps YoY.

• Consolidated EBITDA margin was 15.0%, up 53 bps YoY; finance costs fell to ₹25 crore from ₹45 crore, supported by debt reduction.

• Consolidated share of joint-venture profit was ₹20.60 crore for the quarter.

Outlook and guidance

• Spirits FY27 EBITDA target exceeds ₹500 crore; the 4–5 year aspiration is ₹1,000 crore, with a debt-free balance sheet targeted from FY28.

• Chemicals FY27 EBITDA target exceeds ₹200 crore, including JV dividend; its 4–5 year EBITDA aspiration is ₹400 crore, alongside an aspiration for a ₹2,500 crore business.

• Biopharma FY27 EBITDA target exceeds ₹50 crore; the 4–5 year aspiration is ₹130–150 crore. Raw-material availability may remain a near-term challenge.

• Bio Fuel expects FY27 realization-driven growth with allocation unchanged from the prior year; installed capacity can support incremental demand without significant near-term capex.

• NSU aspiration is revenue above ₹150 crore this year and a ₹600–700 crore business in 4–5 years; FY27 capex is expected at ₹5–20 crore.