Meghmani Organics earnings calls.

Meghmani Organics reported a weak Q3 FY26 with standalone revenue of ₹485 crCurrent reported value: ₹485 cr. No comparable prior figure is available in the source record., EBITDA of ₹51 crCurrent ₹51 crore vs previous available quarter ₹26.2 crore., and PAT of ₹22 crCurrent reported value: ₹22 cr. No comparable prior figure is available in the source record.. The quarter was impacted by US tariff uncertainty causing export volume decline of approximately 14% in crop protection, while the TiO2 segment remained deeply loss-making due to elevated sulfuric acid costs and withdrawal of anti-dumping duty. Management expects recovery in the crop protection segment from February-March 2026 as trade dynamics stabilize. The pigment segment is undergoing operational improvements with renewable energy initiatives expected to reduce power costs by ₹4-4.5/unitCurrent reported value: ₹4-4.5/unit. No comparable prior figure is available in the source record. by Q2-Q3 FY27. For TiO2, management targets improvement by Q2 FY27 once anti-dumping duty is reimposed (expected shortly) and raw material prices normalize. The company has taken plant shutdown for TiO2 to minimize losses. Key risks include sustained US tariff impact on 24-25% of agrochemical revenues, uncertain Chinese competition in TiO2 despite ADD, and the massive ₹825 crCurrent reported value: ₹825 cr. No comparable prior figure is available in the source record. capital already deployed in TiO2 generating single-digit returns.