Q2 revenue up 9%, margins sharply lower; Rs 2,500 million rights issue planned
CAMLINFINE · price
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On the reaction day the stock moved 20.2 pts less than Nifty Microcap 250 and 19.3 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 FY27 revenue rose 9.15% to Rs 4,915 million, but gross margin fell to 39.8% from 46.5%. Adjusted EBITDA was Rs 22.3 million, a 0.45% margin; the company posted a Rs 280.8 million loss. Management expects raw material and freight costs to pressure operations near term, but sees margins improving with better plant use. Board approved a rights issue of up to Rs 2,500 million for liquidity. CFS raised its Vinpai stake to 94.82% for Rs 201 million.
Near-term earnings and cash flow remain pressured, and the rights issue may reduce shareholders' ownership. Better plant use could aid margin recovery.