NOCIL (NOCIL) Q4 25/26 earnings summary

Executive summary

• Q4 FY 2026 revenue from operations reached INR 330 crores, up 5% sequentially, with volumes rising 7% sequentially, driven by GST 2.0-led demand and improved customer engagement.

• Full-year FY 2026 saw a 3% volume growth, with a strong 12% rebound in H2 offsetting a 5% decline in H1; pricing remained under pressure due to low-priced imports.

• Maintained leadership as India's largest rubber chemicals manufacturer, with a global presence in over 40 countries.

• Continued focus on sustainability, green chemistry, and responsible care, with significant investments in R&D and environmental initiatives.

• Annual audited standalone and consolidated financial results for the year ended March 31, 2026, were approved, with an unmodified audit opinion from statutory auditors.

Financial highlights

• Q4 FY 2026 net revenue was INR 330 crores, up from INR 316 crores in Q3 FY 2026; full-year revenue was INR 1,303 crores, down from INR 1,393 crores in FY 2025.

• Q4 operating EBITDA was INR 21 crores (6.4% margin), down from INR 27 crores in Q3; full-year EBITDA was INR 101 crores (7.7% margin), down from INR 137 crores in FY 2025.

• Q4 PAT was INR 17 crores, up from INR 9 crores in Q3; full-year PAT was INR 56 crores, down from INR 103 crores in FY 2025, with prior year tax credits impacting comparability.

• Standalone and consolidated revenue for FY26 was Rs. 1,302.97 crore, with consolidated PAT at Rs. 55.63 crore.

• Net cash generated from operating activities in FY26 was Rs. 252.08 crore, up from Rs. 25.56 crore in FY25.

Outlook and guidance

• Management expects positive volume momentum to continue, with Q4 volumes now considered a base for future quarters.

• Double-digit volume growth targeted for FY 2027 and FY 2028, supported by new capacity and product introductions.

• Price increases for non-contractual business implemented in late March, with further impact expected in the upcoming quarter.

• The company continues to monitor regulatory developments regarding new labour codes and will adjust accounting as needed.