FY26 Revenue Growth Guidance of 9-10%
Management guided 9-10% revenue growth for FY26, excluding US exports which have been nil since August 2025 due to tariffs.
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FY26 EBITDA Margin Guidance of 5.3-5.8%
EBITDA margin forecast at 5.3-5.8% for FY26, impacted by higher raw material costs and nil US exports.
Biwari Plant Revenue Targets
Biwari plant expected to generate ₹140 crore in FY27 and ₹250 crore in FY28, with steady-state EBITDA margin of 7-7.5% and ROCE of 20%.
Capex Guidance of ₹100-110 Crore for FY26
Capex for FY26 estimated at ₹100-110 crore, split between Biwari plant (₹60-65 crore) and existing business growth (₹35-40 crore).
FY27 Revenue Growth of 15% YoY
Management expects 15% year-on-year revenue growth for fiscal 2027, driven by price increases and volume recovery.
Bhiwadi Facility Commercial Production by August 2026
Commercial production at the Bhiwadi facility is expected to start by end of July or early August 2026, with FY27 revenue of ₹80 crore.
FY27 Capex of ₹70-75 Crore
Capital expenditure for FY27 is guided at ₹70-75 crore, with ₹45 crore for Bhiwadi and ₹25-30 crore for existing facilities.
Price Pass-Through Complete by June 2026
Full transmission of 10-18% price increases to customers is expected by June 2026, restoring gross margins to ~24%.