Vinati Organics (524200) Q4 25/26 earnings summary

Executive summary

• Q4 FY 2026 saw strong sequential growth with standalone net income up 17% and EBITDA up 20%; full-year standalone EBITDA grew 17% year-over-year.

• Consolidated Q4 net income rose 16% and EBITDA increased 15% sequentially; full-year consolidated EBITDA grew 13% year-over-year.

• PAT for the year increased 18% standalone and 9% consolidated year-over-year.

• Audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, were approved with unmodified audit opinions from statutory auditors.

• Business segments showed resilience despite market softness, with recovery expected and volume growth targeted for FY 2027.

Financial highlights

• Standalone revenue from operations for FY 2025-26 was Rs.2,228.22 crore, with net profit at Rs.487.78 crore, up from Rs.415.23 crore year-over-year.

• Consolidated revenue from operations for FY 2025-26 was Rs.2,226.89 crore, with net profit at Rs.443.74 crore, up from Rs.405.25 crore year-over-year.

• Q4 FY 2026 standalone net income: INR 631 crore (up from INR 538 crore in Q3); EBITDA: INR 203 crore (up from INR 169 crore); PAT: INR 137 crore (up from INR 108 crore).

• Q4 FY 2026 consolidated net income: INR 624 crore (up from INR 540 crore); EBITDA: INR 191 crore (up from INR 165 crore); PAT: INR 123 crore (up from INR 101 crore).

• Dividend of INR 8.50 per equity share recommended for FY 2026.

Outlook and guidance

• Expecting 15%-20% volume growth in ATBS and overall company volumes in FY 2027.

• Butyl Phenol segment to see moderate growth; IBB and HP-MTBE expected to achieve double-digit growth.

• Antioxidants segment to maintain strong momentum, targeting INR 800-900 crore revenue in two years.

• EBITDA margin guidance maintained at 26%-27% for the long term.

• CapEx of INR 200-250 crore planned for FY 2027, focused on capacity expansion and innovation.