Meghmani Organics Limited (BSE: 543331, NSE: MOL), a fully integrated and diversified chemical company, reported a strong recovery for the financial year ended 31 March 2025 (FY25), with a 30 per cent year-on-year increase in revenue from operations to Rs 2 billion and a profit after tax of Rs 664 million, compared to a loss of Rs 566 million in the previous year.

For the fourth quarter (Q4 FY25), the company posted revenue of Rs 5.02 billion—up 26 per cent year-on-year—driven by an improved product mix across both segments. EBITDA surged more than sixfold to Rs 646 million, from Rs 101 million in Q4 FY24.

The crop protection segment continued to be the company’s main revenue driver, contributing 72 per cent of the total in FY25. It recorded revenue of Rs 1.45 billion and EBITDA of Rs 1.77 billion, up 34 per cent and 301 per cent year-on-year, respectively, with production volume rising 14 per cent to 41,892 metric tonnes at 76 per cent capacity utilisation.

The pigments segment generated revenue of Rs 553.3 million, up 20 per cent year-on-year, and returned to profitability with an EBITDA of Rs 269 million, compared to a loss in the previous year. Production rose 11 per cent to 15,237 metric tonnes, with capacity utilisation at 46 per cent.

Chairman and Managing Director Ankit Patel noted that both business segments saw healthy volume growth from Q2 onwards, bolstered by the company’s focus on product mix optimisation. The firm’s crop nutrition division achieved self-sufficiency in FY25, and plans are under way to launch 2–3 new products in FY26.

In the titanium dioxide (TiO₂) space, Meghmani is facing utilisation pressure due to aggressive dumping by Chinese firms. However, the Directorate General of Trade Remedies has recommended anti-dumping duties of USD 460–681 per metric tonne on Chinese TiO₂ imports, which is expected to stabilise the domestic market. Meghmani is also targeting exports to improve realisations.

The company aims to continue strengthening its product pipeline, expanding market share, and enhancing operational efficiency in the year ahead.

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