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INDIAGLYCO · price
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India Glycols reported strong FY26 results with gross revenues of INR9,827 crores (up 8.7%) and net revenues of INR4,211 crores (up 11.8%). EBITDA grew 24.5% to INR654 crores with margins expanding 162 basis points to 15.5%. PAT was INR293 crores, up 26.8%. The company highlighted a consistent margin improvement trajectory over 5 years from 9.6% in FY22 to 15.5% in FY26. Bio-Fuels was the star performer with 40.9% revenue growth and near-doubling of EBIT. Potable Spirits maintained 14.4% revenue growth with 22.1% EBIT margins. CFO announced prepayment of INR804 crores of debt funded by INR467 crores equity raise and internal cash flows, saving INR20 crores in interest costs. The company plans to sell an additional 24% stake in its Clariant JV in FY28-29 to become debt-free in the Chemical business.
The consistent margin expansion trajectory and aggressive debt reduction demonstrate improving operational efficiency and balance sheet health, which should be positive for the stock. The strong performance in Bio-Fuels and premiumization in Potable Spirits indicate healthy business mix evolution.