Styrenix Performance Materials earnings calls.

Styrenix delivered a mixed Q4 FY26 with strong profitability but revenue headwinds. Standalone EBITDA surged 51.9% YoY to INR 126 croreCurrent reported value: 51.9% YoY to INR 126 crore. No comparable prior figure is available in the source record. driven by improved product mix (higher ABS/HIPS sales, lower GPPS) and favorable pricing amid Middle East supply disruptions. PAT grew 58.6% to INR 84.3 croreCurrent reported value: 58.6% to INR 84.3 crore. No comparable prior figure is available in the source record. with EBITDA margin expansion of 734bps to 19.2%. However, total income dipped 6.3% YoYCurrent reported value: 6.3% YoY. No comparable prior figure is available in the source record. to INR 658 crore due to volume softness—India volumes fell 4.6% QoQ as the company avoided low-margin GPPS sales amid import dumping. Consolidated revenue stood at INR 837.9 crore. Management maintained ABS expansion on track for H2 FY27, while Thailand break-even remains tied to achieving 60-70% capacity utilization. The strategic focus on formula-based contracts (70%+ of sales) and OEM relationships provides earnings visibility, though demand from unorganized customers has become cautious at current elevated price levels. The import substitution opportunity in India (still 100,000+ tonnes short) remains intact for the next 5-7 years.