Speciality Chemicals company Chemplast Sanmar announced Q1FY26 results Revenue from operations stood at Rs 1,100 crore, down 4% year-on-year EBITDA came in at Rs 17 crore, declining 86% YoY EBITDA margin contracted to 2% from 11% in Q1FY25 The company reported a net loss of Rs 64 crore, compared to a profit of Rs 24 crore in Q1FY25 Commenting on the results, Ramkumar Shankar, Managing Director, said, "Against a backdrop of global uncertainties, including sluggish demand across major economies, the company reported sales of Rs 1,100 crore in Q1FY ’26 with EBITDA of Rs. 17 crores. The industry faced continued pricing pressure during the quarter due to persistent dumping of Paste PVC and Suspension PVC. While the Anti-dumping Duties (‘ADD’) on Paste PVC are already in place for countries like China, Korea, Malaysia, Norway, Taiwan and Thailand, India witnessed a shift in dumping with significant inflow of material from EU and Japan. DGTR has since initiated an ADD investigation on these countries and the process is ongoing. We are confident that there will be action on this in the near future. Regarding the ADD on Suspension PVC, the Hon’ble Supreme Court, in May, stayed the Gujarat High Court’s order dated 25 April 2025, which had excluded certain grades from the ambit of ADD. Consequently, the disclosure statement has been issued by the DGTR and the final findings are expected soon. Despite the current softness, the medium to long-term outlook for both Paste PVC and Suspension PVC remains strong. On the Paste PVC side, the demand remained steady and encouraging signs are emerging from the automobile sector. With respect to Suspension PVC, pipe procurement activity is likely to pick up in the coming quarters, owing to a backlog of infrastructure projects. On CMCD, the quarter’s deliveries were on track and our product pipeline is healthy. As a part of our strategy to enhance long-term growth, we are focused on broadening our customer base. There is positive momentum on this front, and we are well-positioned to seize the long-term opportunities in this space. We believe that we are nearing the end of a long winter in PVC. While the last few quarters have indeed been very tough, we have used this period effectively to build capacity in our speciality businesses which would act as a springboard for future growth.” Result PDF
Conference Call with Chemplast Sanmar Management and Analysts on Q1FY26 Performance and Outlook. Listen to the full earnings transcript.