28-Oct-2026 08:59:45
ACUTAAS CHEMICALS Q2 CONCALL : EBITDA SURGES 85% YOY, PAT JUMPS 71%; MANAGEMENT UPGRADES FY27 REVENUE GROWTH GUIDANCE TO 30% & EBITDA MARGIN TO 38–40%
• MANAGEMENT RAISES FY27 REVENUE GROWTH GUIDANCE TO APPROXIMATELY 30% FROM EARLIER 25%, SUPPORTED BY STRONG PHARMA INTERMEDIATES & CDMO DEMAND • MANAGEMENT UPGRADES FY27 EBITDA MARGIN GUIDANCE TO 38–40%, DRIVEN BY HIGHER CDMO CONTRIBUTION, IMPROVED PRODUCT MIX & OPERATING LEVERAGE • MANAGEMENT ADVANCES ₹1,000 CR CDMO REVENUE TARGET TO FY27, ONE YEAR AHEAD OF ITS ORIGINAL PLAN, WHILE TARGETING ₹2,000 CR BY FY30 • MANAGEMENT EXPECTS APPROXIMATELY 8–10 NEW CDMO PRODUCTS TO CONTRIBUTE TO REVENUE OVER THE NEXT 12–18 MONTHS, SUPPORTED BY INNOVATOR PROJECTS • MANAGEMENT EXPECTS BATTERY ELECTROLYTE ADDITIVES BUSINESS TO RAMP UP OVER THE NEXT 2–3 QUARTERS, SUPPORTED BY COMMERCIAL SUPPLIES & LONG-TERM AGREEMENTS • MANAGEMENT EXPECTS INITIAL SEMICONDUCTOR CHEMICAL REVENUE FROM ITS SOUTH KOREA FACILITY IN FY28, WITH CUSTOMER QUALIFICATION & PILOT SHIPMENTS ALREADY UNDERWAY • MANAGEMENT TARGETS BULK ELECTRONIC-GRADE CHEMICAL PRODUCTION IN H1 FY29, WITH EXPECTED ASSET TURNOVER OF AT LEAST 3X • Q2 REVENUE GREW 42.7% YOY TO ₹436.9 CR, SUPPORTED BY STRONG CDMO ORDERS, NEW PRODUCT COMMERCIALISATION & HIGHER PHARMA INTERMEDIATES DEMAND • Q2 EBITDA SURGED 84.6% YOY TO ₹176 CR, WHILE EBITDA MARGIN EXPANDED 914 BPS TO 40.3% • Q2 NET PROFIT JUMPED 71.4% YOY TO ₹123.1 CR, WHILE GROSS PROFIT GREW 59% TO ₹271.5 CR & GROSS MARGIN IMPROVED TO 62.1% • H1 FY27 REVENUE GREW 49.3% YOY TO ₹766.6 CR, EBITDA SURGED 97.7% TO ₹289 CR & NET PROFIT INCREASED 71% TO ₹198.1 CR • ADVANCED PHARMA INTERMEDIATES REVENUE GREW 53.1% YOY TO ₹402 CR, WHILE SPECIALTY CHEMICALS REVENUE DECLINED 20% TO ₹34.9 CR • BATTERY CHEMICALS RECORDED FIRST COMMERCIAL REVENUE FROM VC, FEC & A THIRD ELECTROLYTE ADDITIVE, WHILE A FOURTH PRODUCT IS UNDER CUSTOMER VALIDATION • MANAGEMENT PLANS APPROXIMATELY ₹300 CR FY27 CAPEX, WITH ₹123.9 CR SPENT IN H1; ANKLESHWAR UTILISATION IS EXPECTED TO REACH UP TO 40% BY FY27-END FROM 30% IN Q2 • MANAGEMENT REMAINS CONFIDENT IN CDMO GROWTH & SEMICONDUCTOR EXPANSION, BUT CUSTOMER QUALIFICATION DELAYS, HIGHER WORKING CAPITAL OF 115 DAYS, SPECIALTY CHEMICALS WEAKNESS & PROJECT EXECUTION REMAIN KEY RISKS
ACUTAAS CHEMICALS LIMITED