Transcript of the Investor Call dated May 26, 2026
CAMLINFINE · price
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Camlin Fine Sciences reported Q4 revenue of INR424 crores with EBITDA of INR21 crores (5% margin) for FY2026. The company faced significant headwinds from geopolitical tensions that impacted sales by ~20% due to shipping delays and tripled freight costs, while raw material phenol prices rose from INR85 to INR150/kg. The vanillin business switched to ethyl vanillin production, with Q4 realization improving from sub-$11 to $12.5+ after tariff reduction from 50% to 15.5%. The company confirmed CFS Europe liquidation (saving INR50-60 crores annually) and plans to stop diphenol production, importing hydroquinone from China instead. Management maintained FY27 guidance of INR2,200-2,400 crores revenue with 12-14% EBITDA margins, targeting 4,000-4,200 tons of vanillin volume. Blends business is expected to grow to INR1,400+ crores in FY27.
Shareholders should note improved vanillin realizations and cost savings from discontinued operations, but elevated freight costs and raw material inflation remain a margin headwind. The company's INR670 crores debt and working capital constraints require close monitoring.