Earnings Call Transcript held on May 16, 2026.
STYRENIX · price
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Styrenix reported Q4 FY '26 standalone EBITDA of INR 126 crores (up 51.9% YoY) with margin expansion of 734 basis points to 19.2%, driven by product mix benefits and short-term market tightness. Annual FY '26 standalone PAT stood at INR 234.3 crores with 8.9% margin. Management confirmed ABS expansion remains on track for H2 second half with no changes to previously announced timelines. Thailand volumes declined due to brand transition completion last year, but management sees improving trend based on recent customer interactions. Raw material supply remains stable with no significant disruptions despite Middle East supply chain challenges. Management indicated pricing may remain elevated versus pre-war levels due to ongoing supply tightness, but profitability improvements were partly opportunistic and not fully sustainable.
Strong margin improvement reflects operational efficiency and favorable product mix, but management cautioned against relying on Q4 gains as sustainable. ABS expansion on track provides visibility for future volume growth, while caution on demand softness in unorganized segments may limit near-term upside.