Laxmi Organic Industries Limited has submitted Transcript for the Investor and Analyst Meet held on May 22, 2026.
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Laxmi Organic reported Q4 FY26 revenue growth of 9% sequentially over Q3, with margin improvements across both Essentials and Specialties businesses. However, full-year FY26 revenues declined by 6% YoY due to feedstock deflation and structural factors in Specialties. The Middle East conflict caused acetic acid prices to spike from ~$370 to over $700 in March-April, now moderating to ~$450-470, while logistics costs have doubled. Ethyl acetate spreads rose to $220-250 in March-April from ~$130 in Jan-Feb, currently at $150-160. The company announced new CFO Amit Jain joining June 16 from Gharda Chemicals. Dahej Phase 2 chemical charging will begin in Q1 FY27 with revenues from H2 FY27, while the Hitachi project starts in Q2 FY27. The Lote ethyl acetate plant has started dispatches.
The sequential Q4 improvement is encouraging, but the 6% full-year revenue decline and margin pressures remain concerns. New project ramp-ups at Dahej and Hitachi, along with the new CFO, could provide execution clarity going forward. Near-term volatility in raw material prices and logistics costs will continue to be headwinds.