Transcript of the earnings call held on 16 May 2026 post announcement of the financial results of the Company for the quarter and financial year ended 31 March 2026.
TATVA · price
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Tatva Chintan reported Q4 FY26 operating revenue of INR1,341 million (up 24% YoY) and EBITDA of INR281 million (up 214% YoY), driven by better product mix and improved operating leverage. FY26 total revenue exceeded INR500 crores. Management guided FY27 revenue growth of ~25% and EBITDA margin of 20–22%, maintaining this despite rising raw material costs (amines up 30–40% due to geopolitical factors) as most price increases are being passed to customers. Key near-term catalysts: Dahej new block now fully operational and scaling; Electrolyte Salts expected to contribute 8–10% of FY27 revenue; first pharma product commercializing from Q1 FY27 with INR70–75 crore revenue potential; SDA expected to grow ~20% to INR250–300 crore on Euro 7 tailwinds. Jolva greenfield project groundbreaking expected within 60 days, targeting commercial production Jan–Mar 2028 with Phase 1 revenue potential of INR400–500 crore. Semiconductor chemicals plant-scale trial dispatching this quarter, with full commercialization expected 2028–29. Capex planned at INR100 crore in FY27 and INR175 crore in FY28, both for Jolva.
The company is at an inflection point with multiple new products and facilities entering commercial phase, supporting the FY27 25% revenue growth and 20–22% EBITDA margin guidance. Raw material inflation remains a watch item but is largely being absorbed through pricing pass-throughs, preserving margin guidance.