Privi Speciality Chemicals (PRIVISCL) Q2 25/26 earnings summary

Executive summary

• Achieved record financial and operational performance in Q2 and H1 FY2026, with revenue growth of 26% YoY for Q2 and 24% YoY for H1, driven by volume growth, operational efficiencies, and new products.

• Recognized for sustainability with a first prize at EFIAT 2025 and a Platinum EcoVadis rating, placing among the top 1% globally for ESG excellence.

• Strategic focus on building a world-class aroma chemicals company through responsible growth, process intensification, and a proposed amalgamation of subsidiaries to unlock synergies.

• Board approved unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, with statutory auditor's limited review and unmodified opinion.

Financial highlights

• Q2 FY2026 consolidated revenue: ₹678.82 Cr (26% YoY growth); H1 FY2026: ₹1,246.08 Cr (24% YoY growth).

• Q2 EBITDA: ₹182.14 Cr (59% YoY growth); H1 EBITDA: ₹323.19 Cr (53% YoY growth); EBITDA margin at 26.83%.

• Q2 profit after tax: ₹90.21 Cr (up from ₹44.84 Cr YoY); H1 profit after tax: ₹147.76 Cr (94% YoY growth).

• EPS for Q2 FY26: ₹24.04 (up from ₹11.43 YoY); H1 EPS: ₹39.90 (up from ₹19.46 YoY, consolidated).

• Net working capital cycle improved to 124 days from 136 days in March 2025; net debt reduced to ₹912.46 Cr in H1 FY26 from ₹1,021 Cr in FY25.

Outlook and guidance

• Revenue and EBITDA targets set at ₹5,000 Cr and ₹1,000 Cr, respectively, over the next 3-4 years, with capacity expansion to 54,000 MT by January 2026.

• EBITDA margin expected to be maintained in the 24%-26% range, including state incentives.

• Expansion initiatives to enhance capacity by ~50% and broaden specialty product portfolio; demand outlook remains strong, supported by global consumption and innovation trends.