Laxmi Organic Industries (LXCHEM) Q2 26/27 earnings summary

Executive summary

• Q2 FY27 revenue was INR 10,827.26 million, up 54.7% YoY; EBITDA rose 191.3% to INR 1,080 million, with higher realizations and operating leverage supporting growth.

• H1 FY27 delivered record revenue and EBITDA as supply-chain disruptions were managed to maintain material availability.

Financial highlights

• Consolidated Q2 revenue was INR 10,827.26 million versus INR 6,997.45 million YoY; PBT was INR 745.51 million versus INR 154.99 million.

• Q2 EBITDA was INR 1,080 million, up 191.3%, and PAT was INR 570 million, up 417.6%.

• H1 revenue was INR 20,510.64 million, up 47.3%; EBITDA was INR 2,223 million, up 227.8%, and PAT was INR 1,247 million, up 284.9%.

• Q2 gross profit was INR 3,639 million, up 56.9%; H1 gross profit was INR 7,265 million, up 63.1%.

• H1 consolidated operating cash flow was INR 275.74 million versus INR 1,508.76 million a year earlier.

Outlook and guidance

• Dahej Phase II stabilization and customer qualifications are priorities in Q3; volume ramp-up is expected from Q4, with FY28 the first full year of revenue contribution.

• Project Vaayu remains on track for Q3 commissioning, with subsequent volume ramp-up and revenues largely beginning in FY28.

• Specialty margins are targeted to recover to the mid-to-high teens as Dahej volumes build and customer contracts renew.

• Fluorination revenue ambition of INR 200 crore for FY27 remains on track; qualified applications across multiple countries support high utilization.