What was Chemplast Sanmar's revenue in Q3 FY26?

Chemplast Sanmar reported revenue of ₹835 Cr in Q3 FY26, a -20% change year-over-year.

Did Chemplast Sanmar management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

Chemplast Sanmar Q3 FY26 Research Workspace: Revenue ₹835 Cr (-20%)

Q: What guidance did Chemplast Sanmar management give?

Suspension PVC break-even at PBT level by Q4 FY26: Management expects suspension PVC to break even at the PBT level in February-March 2026, driven by price increases and discount rollbacks.

2-Minute Summary

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Chemplast Sanmar reported a challenging Q3 FY26 with consolidated revenues of ₹835 crore (down 20% YoY) and a net loss of ₹119 crore, marking the most difficult quarter in three years. The suspension PVC segment faced a perfect storm: seasonal demand decline, weather-related production disruptions, and a sharp fall in import parity prices after the government rejected anti-dumping duty recommendations. Paste PVC also saw pricing pressure from EU imports. The custom manufacturing chemicals (CMCD) business was impacted by the agrochemical slowdown, though 17 products are now commercialized. Positively, China's withdrawal of the 13% export tax rebate on suspension PVC (effective April 2026) has improved market sentiment, with prices rising ₹7-8/kg in January-February. Management expects suspension PVC to break even at the PBT level by Q4. Key risks include further import surges before the April deadline and continued pricing pressure in caustic soda and chloromethane. The MD announced his resignation effective April 2026.

केमप्लास्ट सनमार ने वित्त वर्ष 2026 की तीसरी तिमाही में मुश्किल दौर देखा। कंपनी की कुल कमाई ₹835 करोड़ रही, जो पिछले साल से 20% कम है। साथ ही, उसे ₹119 करोड़ का घाटा हुआ, जो तीन साल में सबसे बुरा है। सस्पेंशन पीवीसी (एक तरह का प्लास्टिक) सेगमेंट पर कई मुसीबतें आईं: मौसमी मांग कम होना, मौसम की वजह से उत्पादन में रुकावट, और सरकार द्वारा एंटी-डंपिंग ड्यूटी (सस्ते आयात पर लगने वाला टैक्स) न लगाने से आयात की कीमतें गिर गईं। पेस्ट पीवीसी पर भी यूरोपीय आयात का दबाव रहा। कस्टम मैन्युफैक्चरिंग केमिकल्स (सीएमसीडी) कारोबार पर कृषि रसायनों की मांग कम होने का असर पड़ा, हालांकि 17 उत्पाद अब बिक्री के लिए तैयार हैं। अच्छी खबर यह है कि चीन ने अप्रैल 2026 से सस्पेंशन पीवीसी पर 13% निर्यात टैक्स वापस ले लिया है, जिससे जनवरी-फरवरी में कीमतें ₹7-8 प्रति किलो बढ़ गईं। कंपनी को उम्मीद है कि सस्पेंशन पीवीसी चौथी तिमाही तक घाटे से बाहर आ जाएगा। मुख्य जोखिम

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Potential import surge before China's export tax rebate withdrawal

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Quarter Snapshot

Suspension PVC revenue ₹309 crore

-41% YoY

Revenue fell from ₹525 crore in Q3 FY25 due to lower volumes and adverse pricing.

Specialty chemicals revenue ₹336 crore

+13% YoY

Volume growth of 13% YoY, driven by new product traction in CMCD.

China's share of suspension PVC imports 52%

N/A

China accounted for 52% of India's suspension PVC imports in Apr-Dec 2025.

R32 capacity target 14 KTPA

N/A

New R32 plants of 10 KTPA and 2 KTPA plus swing plant conversion; first full-year revenue ~₹600 crore.

Fast read

Guidance and risk preview

Top guidance Suspension PVC break-even at PBT level by Q4 FY26

Management expects suspension PVC to break even at the PBT level in February-March 2026, driven by price increases and discount rollbacks.

Top risk Potential import surge before China's export tax rebate withdrawal

Chinese exporters may rush to ship PVC to India before the April 2026 deadline, temporarily increasing supply and pressuring prices.