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Revenue
₹722 Cr
verified against source
Revenue YoY
15.29%
reported change
EBITDA
₹184.41 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Privi Speciality Chemicals delivered a strong Q4 FY26 with revenue of ₹725.7 Cr (+15.3% YoY) and EBITDA of ₹184.4 Cr (+25.1% YoY), driven by volume growth, price increases, and improved product mix. EBITDA margin expanded to 25.4% (+200 bps YoY) due to cost optimization and operational efficiencies. PAT surged 50.5% to ₹95.7 Cr. For FY26, revenue grew 21.7% to ₹2,582.9 Cr, with EBITDA margin of 25.8%. Management guided for ~20% revenue growth in FY27 with sustained 25%+ EBITDA margins, supported by capacity expansion to 54,000 MT by June 2026 and new specialty products (maltol, cyclopentanone) commercializing by Q1 FY27. The JV with Privi turned profitable in Q4. Key risk: raw material price volatility and supply chain disruptions from geopolitical tensions could pressure margins.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects ~20% revenue growth on standalone basis for FY27, driven by volume and new capacities.
- Management guided for 25%+ EBITDA margins going forward, supported by operational efficiencies and product mix.
- First phase of capex to increase total installed capacity to 54,000 MT per annum by June 2026.
- Maltol, ethyl maltol, and cyclopentanone projects to achieve mechanical completion by June 2026, with commercial production soon after.
Risks flagged
- Geopolitical tensions (West Asia) could increase freight costs and delay raw material shipments, impacting margins.
- Q4 gross margin declined sequentially due to annual contract overlap; management says to judge on annual basis.
- Capex of ₹70-75 Cr for demo plant may not yield commercial returns if technology fails to scale economically.
- JV with Jodan is exclusive for certain high-end chemicals; any disruption could impact JV profitability.
Key quotes
- We are confident that we'll be able to pass on the price increase and we because you see I would I would yet tell you I'm not saying I'm the most competitive but I am definitely in the lead and people do have confidence by paying one or two% higher.
- We are indeed China plus one you know so so on on a lighter note because we are backward integrated we are definitely China plus plus one.
- Our expectation is to reach beyond the expectations one can imagine.
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