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.
Specialty Chemicals company Chemplast Sanmar announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Revenue from Operations: Rs 1,151 crore in Q4FY25 vs. Rs 1,051 crore in Q4FY24 — up 10% EBITDA: Rs 37 crore in Q4FY25 vs. Rs 21 crore in Q4FY24 — up 75% EBITDA Margin: 3% in Q4FY25 vs. 2% in Q4FY24 — up 100 bps PAT: (Rs 54 crore) loss in Q4FY25 vs. (Rs 31 crore) loss in Q4FY24 FY25 Financial Highlights: Revenue from Operations: Rs 4,346 crore in FY25 vs. Rs 3,923 crore in FY24 — up 11% EBITDA: Rs 219 crore in FY25 vs. Rs 26 crore in FY24 — up 747% EBITDA Margin: 5% in FY25 vs. 1% in FY24 — up 400 bps PAT: (Rs 110 crore) loss in FY25 vs. (Rs 158 crore) loss in FY24 Commenting on the results, Ramkumar Shankar, Managing Director, said, “During FY25, the company has improved its performance as compared to FY ‘24 with sales increasing by 11% from Rs. 3,923 crores in FY ‘24 to Rs 4,346 crores in FY ‘25, led by production ramp-up of new Specialty Chemicals capacities at Cuddalore & Berigai, Tamil Nadu. The EBITDA improved from Rs. 26 crores to Rs. 219 crores, largely driven by better pricing and margins in both Paste PVC and Suspension PVC (especially in the first quarter of FY ‘25), stronger performance in the CMC segment and higher output from the new Cuddalore Paste PVC facility. However, the company’s profitability continues to be impacted by dumping of both Suspension and Paste PVC into India. While ADD has been imposed on Paste PVC imports from certain countries, continued dumping from the EU has created pressure on prices. This is being investigated and the outcome is expected in the next few months. The ADD on Suspension PVC remains pending due to ongoing legal proceedings. The company remains hopeful of a favorable resolution in both proceedings. The company is also pleased to announce a greenfield capex of ~ Rs 340 crore for the production of R32 refrigerant gas. This project, along with the ongoing MPB expansion under the CMC business, reinforces its strategy to grow in the specialty chemicals space. Looking ahead, the company remains optimistic about stronger demand and improved pricing coupled with higher volumes from inventory liquidation and consistent operation at higher rates of the newly expanded capacities, supported by policy measures and targeted investments in high-return, sustainable businesses.” Result PDF
Specialty Chemicals company Chemplast Sanmar announced Q3FY25 results Revenue from Operations for Q3FY25 stood at Rs 1,058 crore, a 19% YoY growth from Rs 888 crore in Q3FY24. EBITDA improved to Rs 32 crore in Q3FY25, compared to Rs (7) crore in Q3FY24, with EBITDA margin at 3% versus -1% last year. PAT loss narrowed to Rs (49) crore in Q3FY25 from Rs (89) crore in Q3FY24, with PAT margin improving to -5% from -10% YoY. Ramkumar Shankar, Managing Director, said, “The total revenue for the first nine months stood at Rs 3,195 crore, a growth of 11% on YoY basis. This was largely on account of better prices and margins on the PVC businesses and improved performance of CMC Division (‘CMCD’). The last couple of years have been challenging for the Company, due to dumping of product, especially of Suspension and Paste PVC, resulting in margin pressures. However, it is pertinent to note that the trend has been improving, with the current year showing a marked improvement over FY ‘24. Dumping of Suspension PVC from China and Paste PVC from the European Union have resulted in pricing headwinds and the consequent impact on margins. However, domestic demand has been quite good with the apparent consumption of Suspension PVC registering a 11% growth on a year-on-year basis in the 9-month period April to December 2024, while Paste PVC registered a 13% growth over the same period. On CMCD, the MPB 3 phase 1 commissioned last year has been ramping up well and we expect healthy business from the host of molecules which have been commercialized. Phase 2 of MPB 3 was commissioned in December ‘24. The pipeline of products under development is strong and is continuously growing with increase in new enquiries from customers. The Value-added chemicals business witnessed mixed demand trends across end-user industries. Volumes for our value-added chemicals grew by 5% in the quarter and 24% over the first nine months of FY25, driven by steady demand across diverse sectors. Suspension PVC industry has seen healthy demand growth thanks to increased traction from housing, construction, irrigation and drinking water segments. We remain positive on the demand side in the coming period. The extension of the Jal Jeevan Mission to 2028, announced in the recent Union Budget, augurs well for Suspension PVC demand. Going ahead, we remain resilient and focused on expanding our capacities and capabilities, especially in the Specialty segment, to capitalise on improving market conditions.” Result PDF