Vishnu Chemicals earnings calls.

Vishnu Chemicals delivered a resilient Q3 FY26 with consolidated operating revenue of ₹411.3 croreCurrent reported value: ₹411.3 crore. No comparable prior figure is available in the source record. (2.5% QoQ) and EBITDA of ₹61.7 croreCurrent reported value: ₹61.7 crore. No comparable prior figure is available in the source record. (6% QoQ), with margin expansion of 50bps to 15Current reported value: 15. No comparable prior figure is available in the source record.%. The company completed its third acquisition in South Africa—a chrome mine for backward integration—with operations expected from Q1 FY27. Sodium carbonate commercialized in Q2 is awaiting customer approvals (expected Q4 FY26) with 50-52% gross margins at full scale. PBS maintains 60%Current 60%. Reported change: Stable share. India market share but operates at 70-80% capacity, prompting FY27 expansion plans. EU's 84% anti-dumping duty on Chinese barium carbonate is a significant tailwind for European exports. Management targets 20% EBITDA margins by FY28 through the chrome mine, DMSO (FY27 launch), and chrome metal expansion (FY28). Capex guidance is ₹180-190 crore for FY26 and ₹300 crore for FY27. Key risk: delayed customer approvals for new products and subdued PBS margins (sub-15% for 4-5 quarters).