Styrenix Performance Materials (506222) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 delivered strong financial performance and profit growth despite global macroeconomic and geopolitical uncertainties, including disruptions around the Strait of Hormuz impacting supply chains and raw material pricing.

• Disciplined execution, operational resilience, and diversified sourcing enabled uninterrupted operations and supply continuity.

• Temporary demand moderation occurred in the non-OEM segment, but recovery is expected as pricing stabilizes.

• Expansion plans, including the first phase of ABS capacity augmentation, are progressing on schedule.

• Consolidated revenue from operations for Q1 FY27 was ₹1,010.86 crore, up from ₹943.50 crore in Q1 FY26 and ₹826.10 crore in Q4 FY26.

Financial highlights

• Standalone total income grew 6.6% year-over-year to INR 770.5 crores; standalone EBITDA rose 133.9% to INR 201.4 crores, with margins improving to 26.1%.

• Standalone profit after tax increased 150.3% to INR 137.3 crores, with margins at 17.8%.

• Consolidated total income was INR 1,014.2 crores, EBITDA INR 223.6 crores (22% margin), and profit after tax INR 138.3 crores (13.6% margin); consolidated sales volume was 50.8 kt.

• Consolidated EBITDA for Q1 FY27 was ₹223.59 crore, up from ₹99.84 crore in Q1 FY26 and ₹127.78 crore in Q4 FY26.

• Consolidated EPS for Q1 FY27 was ₹78.64, compared to ₹29.52 in Q1 FY26 and ₹41.79 in Q4 FY26.

Outlook and guidance

• Management expects normalization of demand and margins once market volatility subsides, with no significant structural changes anticipated in business strategy.

• Volume and margin guidance remain cautious due to ongoing uncertainty; expansion projects are on track for completion within the financial year.

• The first phase of ABS capacity expansion is expected to be commissioned during FY27, supporting future growth.