Chemplast Sanmar Limited has informed the Exchange about Transcript
CHEMPLASTS · price
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Q1 FY26 revenue came in at INR 1,100 crores (down 4% YoY), with a weak EBITDA of INR 17 crores and a net loss of INR 64 crores, hurt by lower PVC realizations and temporary Caustic Soda plant issues at Mettur. Management is hopeful of a margin recovery once anti-dumping duties (ADD) are implemented — final findings for Suspension PVC are expected by early August, and the Paste PVC investigation covering EU and Japan is expected to conclude before end of calendar year. The new Paste PVC plant at Cuddalore has ramped up to full capacity, while MPB 3 Phase 3 and MPB 4 civil works remain on track for Q3 FY26 completion. The R32 refrigerant project has received environmental clearance, but final sizing and capex decisions are pending due to quota allocation uncertainty. A renewable power PPA covering 35-40% of power needs is expected to deliver INR 50-60 crores in savings, helping offset margin volatility from PVC pricing pressure.
Near-term earnings remain under pressure with a quarterly loss, but management is clearly guiding for margin improvement once ADD protections kick in. Investors should watch the Suspension PVC ADD final findings and Paste PVC EU/Japan ruling as the key near-term catalysts that could swing sentiment.