India · Delayed Price · Currency is INR Styrenix Performance Materials Earnings Call Transcripts
Fiscal Year 2026
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Standalone Q3 FY 2026 income declined 6.2% YoY, but EBITDA margin improved to 11.7%. Thailand operations faced significant inventory losses due to price declines, while ABS expansion and power cost savings are on track for FY 2027.
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Standalone and consolidated volumes declined sequentially but grew year-over-year, with ABS driving growth and polystyrene flat. Expansion and capex plans remain on track, while Thailand's business is stabilizing post-acquisition. Robust demand and resilient margins are expected.
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Q1 FY 2026 delivered record sales volumes in India and steady financial performance, despite sectoral slowdowns. Thailand integration is progressing, with capacity utilization at 50-55% and further expansion planned. Annualized volume growth targets and CapEx plans remain on track.
Fiscal Year 2025
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Strong FY 2025 growth driven by robust demand, successful Thailand integration, and capacity expansion. Margins improved year-over-year, with one-time Q4 expenses and inventory buildup for future growth. Management remains confident in sustaining performance and executing expansion plans.
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Q3 FY25 saw strong year-over-year growth in sales and revenue, driven by higher volumes and recent capacity expansions. The acquisition of the Thailand plant adds significant capacity and new technologies, with further growth expected as utilization ramps up. Margins normalized after prior extraordinary gains, and expansion plans in India remain on track.
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Strong H1 FY25 growth driven by robust demand, capacity expansion, and improved margins, despite a Q2 volume dip from Dahej shutdown. Sustainability initiatives and value-added products are gaining traction, with full benefits of expansions and cost savings expected next year.
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Q1 FY25 saw strong sales and profit growth, driven by higher volumes, improved margins, and ongoing de-bottlenecking. CapEx and expansion plans remain on track, with new product launches and cost-saving initiatives expected to further boost performance.