Vinati Organics (524200) Q2 25/26 earnings summary

Executive summary

• Achieved strong margin expansion in the first half due to lower input and freight costs, despite only mild revenue growth year-over-year.

• Volume growth driven by new product launches, expansion in additives, and commissioning of a new ATBS production line.

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, were approved and published, with statutory auditors issuing unqualified review reports for both.

• Key managerial change: Retirement of CFO Mr. N. K. Goyal effective November 5, 2025, and appointment of Mr. Gulshan Kumar Sakhuja as CFO from November 6, 2025.

Financial highlights

• Standalone revenue from operations for Q2 FY26 was ₹546.27 crore, up from ₹542.26 crore in Q2 FY25; half-year revenue was ₹1,088.53 crore versus ₹1,077.98 crore year-over-year.

• Standalone net profit for Q2 FY26 was ₹129.02 crore, up from ₹112.78 crore in Q2 FY25; half-year net profit was ₹241.80 crore versus ₹192.11 crore year-over-year.

• Consolidated revenue for Q2 FY26 was ₹550.22 crore, compared to ₹541.97 crore in Q2 FY25; half-year consolidated revenue was ₹1,092.19 crore versus ₹1,078.03 crore year-over-year.

• Consolidated net profit for Q2 FY26 was ₹114.88 crore, up from ₹104.19 crore in Q2 FY25; half-year consolidated net profit was ₹219.07 crore versus ₹188.51 crore year-over-year.

• Volume growth for the year expected at 15%, with revenue growth slightly lower at 10%-12% due to price corrections.

Outlook and guidance

• Targeting 20% annualized revenue growth over the next three years, with margins in the 26%-27% range.

• Anticipates positive performance in Q3 and Q4, with new product lines and capacity expansions supporting growth.

• The company continues to operate as a single segment in chemical manufacturing and maintains its accounting and reporting practices as per Ind AS standards.