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Camlin Fine Sciences (CAMLINFINE) investor relations material
Camlin Fine Sciences Q3 25/26 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 revenue was INR 572 crore (Rs. 4,572 mn), up 6% YoY, with blends segment growth and new revenue from the Vinpai acquisition.
Vanillin sales were 490 tons (INR 55 crore) at $12.5/kg, with a strategy to delay some sales for higher realizations as tariffs drop.
Profitability was impacted by pricing pressure in Straights and tariff-related challenges in Vanillin.
A major fire at a Brazil blending unit resulted in inventory and equipment loss, with operations continuing via another unit and tolling arrangements; insurance is expected to cover losses.
Liquidation processes for European and Chinese subsidiaries are underway to halt ongoing cash losses and improve future profitability.
Financial highlights
Q3 consolidated revenue: Rs. 4,572 mn (+6% YoY); 9M FY26: Rs. 13,406 mn (+9% YoY).
Gross margin for Q3 was 45.8%, down from 46% in the previous quarter, mainly due to lower realizations in the straights (antioxidant) business.
Adjusted EBITDA for Q3: Rs. 307 mn (margin 6.7%); net loss after tax for the quarter: Rs. 3,622.99 lakh.
Exceptional items included acquisition costs, labor code alignment, and a provision for an old advance loan.
Discontinued business losses were INR 9 crore for Europe and INR 1 crore for China in Q3.
Outlook and guidance
FY 2027 vanillin sales guidance is 4,000 metric tons, with 60% to the U.S. and 40% to Europe; expected average realization in the U.S. is $14–$14.5/kg if tariffs remain at 25%.
Blends business is projected to grow 25% in FY 2027, with Vitafor and Vinpai each targeting 40–50% topline growth.
Gross margin is expected to improve to 46–47% and EBITDA margin to 12–14% in FY 2027, driven by higher vanillin realizations and blend growth.
Revenue guidance for FY 2027 is INR 2,200 crore and for FY 2028 is INR 2,400 crore, assuming current price levels.
Management continues to monitor regulatory changes and operational risks, including the impact of new Labour Codes and ongoing legal and insurance proceedings.
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