MONOLITHISCHINDIA Q3 FY26 earnings call.
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Revenue
₹94.64 Cr
verification pending
Revenue YoY
40.82%
reported change
EBITDA
₹21.86 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Monolithisch India delivered a landmark Q3 FY26 with consolidated revenues of Rs.94.64 crore (up 40.82% YoY) and PAT of Rs.14.88 crore (up 52.15% YoY) for the 9-month period, driven by brownfield capacity expansion and the November 2025 acquisition of Menindia Global. The brownfield project has successfully upgraded crushing capacity from 1.32 lakh MTPA to 2.56 lakh MTPA with minimal downtime, improving operational efficiency through Swedish machinery from Metso. EBITDA margins expanded to 23.9% driven by 20-30% reduction in crushing labor costs and lower consumables. The greenfield project targeting 5.74 lakh MTPA by Q1 FY27 remains on schedule with Rs.36 crore in IPO proceeds available. Management targets 5x revenue/EBITDA expansion by FY28 and guides for FY26 consolidated revenue of Rs.140-150 crore with EBITDA of ~Rs.32 crore. Key risks include customer concentration (top 2 groups represent 24-25% revenue), commodity price volatility for boric acid, and execution risk on the Rajasthan export facility targeting FY27 operations.
Colored figures show movement against the previous available record.
Guidance to track
- Full-year revenue guidance maintained, supported by volume growth, operational efficiency gains, and consolidation benefits from Menindia Global acquisition effective November 8, 2025.
- Management reiterated EBITDA guidance of approximately Rs.32 crore for the full fiscal year on consolidated basis.
- Sustainable EBITDA margins expected to range between 22% (floor) and 26% (ceiling) going forward as greenfield optimization improves efficiency.
- New facility on 12-13 acres targeting 5.74 lakh MTPA total capacity; current capex deployment ~Rs.11-12 crore with expected savings of Rs.5-6 crore vs prospectus plan.
Risks flagged
- Top 2 customer groups account for 24-25% of revenue; large customers maintain multi-vendor arrangements (60:40, 50:50 ratios) limiting Monolith's wallet share expansion.
- New labor code implementation expected to increase employee costs; management acknowledged 'slight increment' while noting 20-30% labor reduction from automation partially offsets impact.
- Land acquisition near Mundra port not yet finalized (target: 2-3 months); plant establishment requires additional 4-5 months post-land, creating execution risk for FY27 export revenue.
- Product launched aggressively only 10 days before call; management targets 50-60% customer migration from SGB 7 within 'next couple of months' but commercial-scale production only recently stabilized.
Key quotes
- We are going to be the first company to be dependent on 60 to 70% renewable energy in the next four five months. Apart from that we are in talking terms with Reval for electric dumpers and electric locomotives to work inside so that we try to reduce diesel usage as much as possible.
- It should be roughly 90% additional capacity added due to this brownfield. The current revenues are driven by the acquisition of our group company plus whatever capacity we have enhanced and some results have already started popping in. So we are almost 30 to 40% increased from the previous quarter.
- The revenue guidance given remains intact and will be accomplishing 140 to 150 cr rupees supported by volume growth, improving operational efficiencies and disciplined project execution. We remain confident in our ability to deliver our stated growth objectives.
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