Vinati Organics Limited has informed the Exchange about Transcript
VINATIORGA · price
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Vinati Organics reported FY25 consolidated revenue of INR2,292 crores (up 18% YoY), EBITDA of INR625 crores (up 23%), and PAT of INR405 crores (up 25%). Q4 FY25 revenue grew 24% QoQ to INR655 crores with EBITDA up 25% to INR187 crores and PAT up 31% to INR123 crores. The ATBS segment grew 30% in FY25 with a 60-65% global market share, and capacity expansion in two phases (first phase by June 2025) is backed by an existing order backlog, with the company currently oversold. Antioxidants revenue jumped 70% to over INR210 crores, and butyl phenols grew 26%. Management guided for a 20% revenue CAGR over the next three years and reaffirmed 26-27% EBITDA margins as sustainable, with the FY26 capex pegged at ~INR360 crores. Subsidiary VOPL (Veeral Organics) resolved earlier teething issues, is now commercially selling MEHQ, and targets ~INR100 crores revenue in FY26 from new products like anisole, 4-MAP, TAA, and PTAP launching in Q2-Q3 FY26.
Strong all-round FY25 results, robust growth visibility across ATBS, antioxidants, and butyl phenols, along with reaffirmed margin guidance and a clear 3-year revenue CAGR target of 20%, should be viewed positively by shareholders. The phased ATBS expansion backed by order backlog reduces execution risk, though VOPL's profitability ramp-up and pending capex of ~INR250 crores remain near-term watchpoints.