IG Petrochemicals Limited has submitted to the Exchange, the financial results for the period ended September 30, 2025.
IGPL · price
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IG Petrochemicals reported weak H1 FY26 results with standalone revenue falling nearly 20% year-on-year to Rs. 93,539 lakhs (vs Rs. 1,16,810 lakhs in H1 FY25). The company swung to a standalone loss after tax of Rs. 679 lakhs in H1 FY26 compared to a profit of Rs. 6,374 lakhs a year ago. Consolidated H1 PAT was even worse at a loss of Rs. 1,499 lakhs. EBITDA margin compressed sharply from about 12% to around 4%, and net cash from operations turned negative at Rs. (3,887) lakhs (standalone). The company also disclosed it has begun liquidating its wholly-owned subsidiary IGPL Energy Limited. Statutory auditors M S K A & Associates and S M M P & Company issued an unqualified limited review report.
Sharp revenue decline, margin compression, a return to losses, and negative operating cash flows point to significant operational stress, which is likely to be viewed negatively by the stock. The liquidation of a subsidiary and heavy reliance on short-term borrowings (current borrowings jumped from Rs. 7.5 cr to Rs. 18.2 cr) add further concerns for shareholders.