Laxmi Organic Industries (LXCHEM) Q4 25/26 earnings summary

Executive summary

• FY26 consolidated revenue was ₹28,466.67 million, down 5-6% year-over-year, with Q4 showing sequential growth and margin improvements.

• Adjusted EBITDA margin improved by 520 bps sequentially in Q4FY26, but annual profitability was impacted by margin pressures, deflationary feedstock, and one-time items.

• Specialty segment rebounded in Q4 after earlier setbacks, with new products and deferred orders contributing to recovery.

• Appointment of Amit Jain as CFO effective June 2026, bringing sector experience; interim CFO duties to cease.

• Final dividend of ₹0.30 per share recommended, subject to shareholder approval.

Financial highlights

• FY26 consolidated revenue: ₹28,466.67 million, down from ₹29,854.42 million in FY25; Q4FY26 revenue up 4-9% sequentially.

• FY26 consolidated net profit: ₹793.62 million, down from ₹1,135.04 million in FY25; Q4FY26 PAT: ₹215 million.

• FY26 EBITDA: ₹1,714 million, down 39% year-over-year; Q4FY26 EBITDA: ₹536 million.

• Gross margin for FY26 at 32.9%, down 190 bps year-over-year; Q4FY26 gross margin at 33.6%.

• One-time gain of ₹407.27 million from regulatory order and one-time expenses of ₹38 million (Labour Code) included in FY26 results.

Outlook and guidance

• Specialty segment expected to grow in FY27 and FY28 as Dahej capacity ramps up and deferred orders materialize.

• Revenues from Dahej project to impact P&L positively in H2 FY27, with further ramp-up in FY28.

• Management refrains from providing absolute revenue guidance due to market volatility.

• Focus on operational efficiencies, portfolio expansion, and de-risking through exports and new products.