Privi Speciality Chemicals (PRIVISCL) Q2 26/27 earnings summary

Executive summary

• Record Q2 FY27 performance: total income rose 13.9% YoY to INR 773.16 crore, with EBITDA of INR 212.49 crore and PAT attributable to shareholders of INR 117.03 crore.

• Broad domestic and export demand supported results despite geopolitical uncertainty, changing trade flows and volatile input and logistics costs.

Financial highlights

• Q2 FY27 revenue from operations was INR 760.45 crore versus INR 678.71 crore; total income was INR 773.16 crore versus INR 678.82 crore.

• Q2 EBITDA was INR 212.49 crore, up 16.66% YoY; PAT attributable to shareholders was INR 117.03 crore, up 24.61%.

• H1 FY27 total income was INR 1,454.59 crore and EBITDA INR 379.96 crore, up 16.7% and 17.6%; PAT attributable to shareholders was INR 201.23 crore, up 29.1%.

• Consolidated revenue and net profit were INR 760.45 crore and INR 117.53 crore in Q2; H1 revenue and net profit were INR 1,426.67 crore and INR 200.37 crore.

• Q2 EPS was INR 29.96; H1 EPS was INR 52.11 on a standalone basis.

Outlook and guidance

• FY27 growth guidance remains 20%; H2 is expected to be stronger than H1, supported by customer indications of increased offtake.

• FY29–30 targets are INR 5,000 crore revenue and INR 1,000 crore+ EBITDA, with EBITDA margin expected above 20%; targets depend on external factors and approvals.

• Phase II commercial revenue is expected from October 2027; planned products include Maltol, Ethyl Maltol, furfural derivatives and Cyclopentanone.

• Phase II at 12,000 MT capacity is expected to generate ~INR 1,000 crore revenue; Phase III could add INR 450–500 crore, supporting the INR 5,000 crore ambition.

• Growth pipeline includes renewable Cyclopentanone, Furfural, 10+ specialty products and 40+ PRIGIV products; expansion projects are progressing toward commercial operations in H2 2028.