India · Delayed Price · Currency is INR Styrenix Performance Materials Earnings Call Transcripts
Fiscal Year 2026
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Q4 FY 2026 saw strong EBITDA and PAT growth despite lower income, driven by improved margins and product mix. ABS expansion in India is on track, with Thailand operations focusing on higher utilization. Raw material volatility and muted demand in some segments remain key risks.
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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 and steady margins, with robust demand despite sectoral slowdowns. Thailand integration is progressing, with significant ramp-up potential, and expansion plans for ABS and HIPS remain on track. Dividend payout and CapEx are balanced to support growth.
Fiscal Year 2025
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Strong FY 2025 growth driven by robust demand, capacity expansion, and the Thailand acquisition, with consolidated revenue and profit margins improving year-over-year. One-time expenses impacted Q4, but ongoing debottlenecking and new capacity additions support a positive outlook.
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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 delivered strong sales and profit growth, driven by higher volumes, improved product mix, and ongoing de-bottlenecking. Capacity utilization remains high, with further expansion and cost-saving projects underway. Freight and raw material costs are stable, supporting margin sustainability.