Laxmi Organic Industries Limited has Submitted the Transcript of the Analyst Meeting held on October 30, 2025.

Laxmi Organic Industries submitted the transcript of its Q2 FY26 analyst call. Revenue declined 9% year-on-year, with the specialty chemicals segment down 20% (10% from a phased-out agrochemical intermediate, 7% from market price moderation, and the rest from deferred deliveries to H2 FY26). EBITDA margin compressed sharply to 5.3% versus 9.7% last year, with EBITDA at about INR 37 crore versus INR 74 crore, though cash flow from operations stayed robust at INR 153 crore and debt-to-equity remained low at 0.17. Management reiterated its historical specialty EBITDA margin band of 20-25% and guided that deferred deliveries and an alternative product will help recovery in H2 FY26. Project updates: Dahej Phase 1 is operational with a long-term customer contract, Phase 2 mechanical completion is targeted for Q4 FY26, the Hitachi SF6-free gas project is signed (INR 75 crore capex, 60 metric tonne, commissioning Q2 FY27), and a world-scale ethyl acetate plant at Lote is targeted for Q4 FY26. Fluorine revenues are expected to reach 40-50% of peak (around INR 80 crore) in FY26, and total capex of INR 1,100 crore is expected to see around INR 800 crore capitalized by FY26 end, with term loans rising to INR 400-500 crore in H2.