India · Delayed Price · Currency is INR India Glycols Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY27 delivered 9% consolidated net revenue growth, 13% EBITDA growth and a 15% EBITDA margin. Spirits, chemicals and biopharma advanced, while restructuring progressed; input and freight volatility remained key headwinds.
Fiscal Year 2026
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FY26 revenue and EBITDA grew, with biofuels and potable spirits leading; debt reduction and margin gains strengthened results. Management sees growth opportunities in premium spirits and performance chemicals, while geopolitical and input-cost risks persist.
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Record 9M revenue and EBITDA growth was led by spirits, biofuels, and improving chemical margins. Debt reduction and premium product launches support the outlook, while global volatility and feedstock costs remain risks.
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Q2 and H1 growth was led by biofuels and potable spirits, lifting EBITDA margins. Chemicals and Ennature faced market and supply pressures; a ₹467 crore preferential issue is intended to reduce debt.
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Net revenue rose 7% YoY, EBITDA 18% and PAT 21%, led by biofuels, potable spirits and stronger JV earnings. Chemicals and biopharma remained under pressure; FY26 CapEx is expected to be limited.
Fiscal Year 2025
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FY25 growth was led by biofuels and potable spirits, lifting earnings and margins despite softer quarterly net revenue. Management expects continued spirits and ethanol growth, with limited major CapEx and scheduled debt repayment supported by cash profit.
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9M FY25 net revenue rose 23% and EBITDA 19%, driven by biofuels and spirits. A three-way demerger is planned, while high grain costs and Ennature margin pressure remain key watchpoints.
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Q2 revenue, EBITDA and PAT grew, with biofuels and potable spirits driving momentum. H1 results were stronger, while margin pressures in biofuels and biopharma, specialty-project execution and feedstock volatility remain key considerations.
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Q1 FY25 revenue and earnings rose, with growth across major segments and biofuels gaining scale. Expansion, ethanol blending demand and specialty chemicals underpin the outlook, while input costs and financing costs remain key constraints.
Fiscal Year 2024
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FY24 revenue grew 24% and EBITDA 34%, with biofuels and potable spirits driving growth. FY25 priorities include using new capacity and growing value-added products, while input costs and market pricing remain risks.
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Q3 growth was broad-based, led by potable spirits and bio-based chemicals, while 9M EBITDA rose 45.6%. Ethanol allocation and new specialties offer growth potential, subject to supply, pricing and policy risks.