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Privi Speciality Chemicals Q2 FY27 results: net profit up 30.3% to ₹117.53 crore, revenue up 12.0%
Privi Speciality Chemicals Limited reported consolidated Q2 FY27 revenue of ₹760.45 crore, up 12.0% from Q2 FY26, and a net profit of ₹117.53 crore. EBITDA was ₹199.78 crore at a 26.3% margin, while basic EPS rose to ₹29.96 from ₹24.04.
Key points
- Consolidated Q2 FY27 revenue was ₹760.45 crore, up ₹81.74 crore or 12.0% from Q2 FY26.
- EBITDA was ₹199.78 crore, up 9.8% year on year, while EBITDA margin was 26.3%, down 0.5 percentage points.
- Net profit was ₹117.53 crore, up 30.3% from ₹90.21 crore, and basic EPS was ₹29.96, up 24.6%.
- H1 FY27 revenue was ₹1,426.67 crore and net profit was ₹200.37 crore, up 15.3% and 35.6% respectively.
- The board approved a first interim dividend of Rs. 5 per equity share for FY 2026-27.
How did Privi Speciality Chemicals perform in Q2 FY27?
Privi Speciality Chemicals’ consolidated revenue for Q2 FY27 was ₹760.45 crore, up ₹81.74 crore or 12.0% from ₹678.71 crore in Q2 FY26 and up ₹94.23 crore or 14.1% from Q1 FY27. Total income was ₹773.16 crore, against ₹678.82 crore a year earlier and ₹681.42 crore in the previous quarter.
EBITDA was ₹199.78 crore, up 9.8% from ₹182.03 crore in Q2 FY26 and 31.2% from ₹152.27 crore in Q1 FY27. The EBITDA margin was 26.3%, compared with 26.8% a year earlier and 22.9% in the previous quarter.
Profit before tax was ₹158.55 crore and net profit was ₹117.53 crore, up 26.8% and 30.3% from Q2 FY26, respectively. Basic EPS was ₹29.96, compared with ₹24.04 in Q2 FY26 and ₹21.56 in Q1 FY27. On a standalone basis, revenue was ₹722.83 crore and net profit was ₹119.29 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 760.45 | 666.22 | 678.71 | +12.0% | +14.1% |
| Other income | 12.71 | 15.20 | 0.11 | +11454.5% | −16.4% |
| Total expenses | 614.62 | 568.06 | 553.75 | +11.0% | +8.2% |
| EBITDA | 199.78 | 152.27 | 182.03 | +9.8% | +31.2% |
| EBITDA margin | 26.3% | 22.9% | 26.8% | −0.5 pp | +3.4 pp |
| Profit before tax | 158.55 | 113.37 | 125.07 | +26.8% | +39.9% |
| Tax | 41.02 | 30.53 | 34.86 | +17.7% | +34.4% |
| Net profit | 117.53 | 82.84 | 90.21 | +30.3% | +41.9% |
| EPS (₹) | 29.96 | 21.56 | 24.04 | +24.6% | +39.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Privi Speciality Chemicals' costs and profit?
Total expenses increased ₹60.87 crore or 11.0% from Q2 FY26 to ₹614.62 crore. Cost of materials rose ₹49.81 crore or 13.4% to ₹421.48 crore, employee cost increased ₹0.79 crore to ₹29.81 crore, and depreciation increased ₹1.44 crore to ₹37.04 crore.
Finance costs fell ₹4.57 crore or 21.3% to ₹16.90 crore, while other expenses declined ₹7.25 crore or 5.4% to ₹126.10 crore. Other income rose ₹12.60 crore to ₹12.71 crore from ₹0.11 crore in Q2 FY26, and there was no exceptional item.
Tax expense increased ₹6.16 crore or 17.7% to ₹41.02 crore. The filing does not state why the cost and other-income changes occurred. From Q1 FY27, total expenses rose ₹46.56 crore, while other income fell ₹2.49 crore and tax increased ₹10.49 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 421.48 | 371.67 | +49.81 | +13.4% |
| Employee cost | 29.81 | 29.02 | +0.79 | +2.7% |
| Finance costs | 16.90 | 21.47 | −4.57 | −21.3% |
| Depreciation | 37.04 | 35.60 | +1.44 | +4.0% |
| Other expenses | 126.10 | 133.35 | −7.25 | −5.4% |
| Total expenses | 614.62 | 553.75 | +60.87 | +11.0% |
| Other income | 12.71 | 0.11 | +12.60 | +11454.5% |
| Tax | 41.02 | 34.86 | +6.16 | +17.7% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹1,426.67 crore, up ₹189.14 crore or 15.3% from ₹1,237.53 crore in H1 FY26. Total income rose ₹208.51 crore or 16.7% to ₹1,454.59 crore, while profit before tax increased ₹65.67 crore or 31.8% to ₹271.92 crore.
Net profit for the first half was ₹200.37 crore, up ₹52.61 crore or 35.6% from ₹147.76 crore, and EPS rose from ₹39.9 to ₹51.52. The company has not separately stated a Q2 FY27 half-year dividend or additional capital-raising figure in the supplied filings.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,427 | 1,238 | +15.3% |
| Profit before tax | 271.92 | 206.25 | +31.8% |
| Net profit | 200.37 | 147.76 | +35.6% |
| EPS (₹) | 51.52 | 39.90 | +29.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹3,370.57 crore, compared with ₹3,169.82 crore at 31 March 2026. Total equity rose to ₹1,602.46 crore from ₹1,440.61 crore, while borrowings fell to ₹976.80 crore from ₹1,009.89 crore. Cash and cash equivalents increased to ₹73.95 crore from ₹44.09 crore.
Inventories were ₹845.77 crore, compared with ₹826.07 crore at 31 March 2026. Trade receivables declined to ₹463.09 crore from ₹526.01 crore, while trade payables increased to ₹583.76 crore from ₹527.42 crore.
Net cash from operating activities in H1 FY27 was ₹360.26 crore, against ₹234.89 crore in H1 FY26. Investing cash flow was negative ₹220.21 crore, compared with negative ₹133.29 crore, and financing cash flow was negative ₹110.19 crore, compared with negative ₹135.45 crore. Capital expenditure was ₹214.82 crore, against ₹154.86 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,371 | 3,170 |
| Total equity | 1,602 | 1,441 |
| Borrowings | 976.80 | 1,010 |
| Cash and equivalents | 73.95 | 44.09 |
| Inventories | 845.77 | 826.07 |
| Trade receivables | 463.09 | 526.01 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 360.26 | 234.89 |
| Cash from investing | −220.21 | −133.29 |
| Cash from financing | −110.19 | −135.45 |
| Capital expenditure | 214.82 | 154.86 |
Source: Company's results filing (XBRL).
How has Privi Speciality Chemicals done over the last 8 quarters?
Privi Speciality Chemicals’ quarterly revenue reached its highest level in the series in Q2 FY27 at ₹760.45 crore, above ₹721.52 crore in Q4 FY26 and the lowest point of ₹490.87 crore in Q3 FY25. Revenue and profit have risen year on year in each of the last eight quarters.
Net profit was ₹117.53 crore in Q2 FY27, compared with its low of ₹44.47 crore in Q3 FY25 and its prior high of ₹94.11 crore in Q4 FY26. EBITDA margin bottomed at 21.6% in Q4 FY25 and peaked at 26.8% in Q2 FY26.
The latest quarter reversed the sequential fall in revenue and profit seen in Q1 FY27. Revenue rose from ₹666.22 crore to ₹760.45 crore, net profit from ₹82.84 crore to ₹117.53 crore, and EBITDA margin from 22.9% to 26.3%.
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026, along with the statement of assets and liabilities, cash flow statement and limited review report. It also declared a first interim dividend of Rs. 5 per equity share of face value of Rs. 10 for FY 2026-27.
The record date for the first interim dividend was fixed as 4 November 2026, with payment to be made on or before 25 November 2026. The board also approved an investment limit of Rs. 2,97,00,000 in one or more tranches in M/s Opera Dwarka Projects Private Limited for a wind solar hybrid project at Gujarat for Unit VI.
What did Privi Speciality Chemicals' management say?
Management maintained FY27 revenue growth guidance of 20%, despite H1 growth of about 15%, and said it expected a stronger H2. It also expects at least 20% growth in FY27-28, revenue close to INR3,750-4,000 crore, current EBITDA margins to hold and new-product margins to remain in the current range.
Management said Phase 1 expansion was complete and expected utilisation of the added capacity at approximately 85-90% in Q4 FY27. About INR1,000 crore of Phase 2/3 capital expenditure remains, with Phase 2 sales expected from October 2027; the three phases could support about INR1,900 crore of revenue by 2030.
Management identified geopolitical uncertainty, changing trade flows, feedstock-price and freight-cost volatility, regulatory approval delays and the time required for customer qualification and commercialisation of new molecules as risks. The CFO said: “Yes, we still continue to maintain the 20% guidance. As you are aware, that normally, the first half is lower than the second half for us, and we are confident of showing a 20% growth on an annual basis.”
How did Privi Speciality Chemicals shares react?
After the filing appeared, the stock rose 1.2% after 5 minutes, 3.0% after 15 minutes and 0.8% after 30 minutes. It closed the reaction day down 4.6% from its previous close, and by the next day’s close it was down 5.8% from that pre-results close.
On the reaction day, the Specialty Chemicals industry median rose 0.4%, so Privi Speciality Chemicals underperformed by 5.0 percentage points. By the next day’s close, the industry median was down 1.7%, leaving Privi Speciality Chemicals 4.1 percentage points behind the sector median.
Earlier reaction-day moves were down 2.4% on 30 July 2026, down 0.5% on 11 May 2026, down 1.1% on 9 February 2026, up 10.7% on 5 November 2025 and down 3.5% on 1 August 2025. No five-day or one-month reaction was provided.
| After the filing | Stock | Specialty Chemicals median |
|---|---|---|
| 5 minutes | +1.2% | |
| 15 minutes | +3.0% | |
| 30 minutes | +0.8% | |
| Reaction day | −4.6% | +0.4% |
| Next day | −5.8% | −1.7% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 30 July 2026 | −2.4% |
| 11 May 2026 | −0.5% |
| 9 February 2026 | −1.1% |
| 5 November 2025 | +10.7% |
| 1 August 2025 | −3.5% |
| 3 May 2025 | −1.1% |
| 12 February 2025 | −4.8% |
| 24 October 2024 | −0.9% |
Source: MarketPing price-reaction measurement.
How did other Specialty Chemicals companies do?
Privi Speciality Chemicals was compared with 49 other Specialty Chemicals companies. Their median revenue growth was 28.1%, while 7 peers grew slower than the company and 42 grew faster than the company.
Among the peers for which profit was compared, 39 reported higher profit. The peer comparison was available as of 4 November 2026.
| Privi Speciality Chemicals revenue growth (YoY) | +12.0% |
|---|---|
| Median of 49 other Specialty Chemicals companies | +28.1% |
| Companies with slower revenue growth than Privi Speciality Chemicals | 7 of 49 |
| Companies with faster revenue growth than Privi Speciality Chemicals | 42 of 49 |
| Companies whose net profit rose | 39 of 45 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Privi Speciality Chemicals' revenue in Q2 FY27?
Revenue from operations was ₹760.45 crore, up 12.0% from ₹678.71 crore in Q2 FY26 (consolidated).
Did Privi Speciality Chemicals make a profit in Q2 FY27?
Yes. Net profit was ₹117.53 crore, against a net profit of ₹90.21 crore in Q2 FY26.
What was Privi Speciality Chemicals' EPS in Q2 FY27?
Basic earnings per share were ₹29.96, against ₹24.04 in Q2 FY26.
How did Privi Speciality Chemicals shares react to the Q2 FY27 results?
On the reaction day the stock moved −4.6% from the previous close; the median Specialty Chemicals stock moved +0.4%.
When did Privi Speciality Chemicals announce its Q2 FY27 results?
On 29 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of Board Meeting To Be Held On Thursday, October 29, 2026. (BSE, 19 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Boartd Meeting Held On October 29, 2026 (BSE, 29 October 2026) · PDF
- Outcome Of Board Meeting - Financial Results For Quarter And Half Year Ended September 30, 2026 (BSE, 29 October 2026) · PDF
- Outcome Of Board Meeting - 29.10.2026 (BSE, 29 October 2026) · PDF
- The earnings call (3 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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