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Revenue
₹201.83 Cr
verified against source
Revenue YoY
35%
reported change
EBITDA
Pending
latest reported figure
Source
nse announcements
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Yasho Industries reported Q3 FY26 revenue of ₹201.83 crore, up 35% YoY, with EBITDA margin of 16.65%. Growth was driven by volume traction, improved product mix, and operational efficiencies despite pricing volatility. The company is executing a strategic manufacturing project funded by an MNC (₹85-90 crore capex, fully customer-funded) and commissioning two new lines by Q1 FY27. Management targets ₹1,500 crore revenue by FY28 at 40% utilization of the Pakajan facility, implying a 4:1 revenue-to-capex ratio. Risks include potential US tariff impacts on ~22% Americas revenue and competitive pressure from Chinese capacity expansion.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects to achieve ₹1,500 crore revenue by FY28 at 40% utilization of Pakajan facility, supported by new lines and LSA.
- Blended EBITDA margin expected to remain in 17-19% range, with potential 1-1.5% improvement from higher utilization.
- Two new lines with ₹25.9 crore capex will begin trial runs in March 2026 and commercial production in Q1 FY27.
- Strategic manufacturing project with MNC (₹85-90 crore capex, fully funded) to commercialize in Q1 FY28.
Risks flagged
- ~22% of Q3 revenue came from Americas; tariffs on certain products could reduce sales and margins.
- A Chinese competitor is expanding capacity, which could lead to pricing disruption in the lubricant additives market.
- Utilization dropped to 40-45% in Q3 from >50% in Q2, impacting fixed cost absorption and margins.
- Gross debt of ~₹560 crore (₹500 crore bank loans) with no concrete plan to reduce absolute debt, only debt-to-EBITDA.
Key quotes
- We are looking for a molecule which can at least generate 25 crores revenue a year at least or more.
- We are not saying that we will achieve but there is a potential to achieve that with the existing investment in a capex.
- We are well prepared for that. I can say that much cannot diverse much more information. So we are not expecting any negative implication because of that on our product portfolio.
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