The Board of Directors convened today to approve the unaudited financial results for the first quarter of Financial Year 2025–26. Commenting on the performance, Managing Director Dr T. Natarajan noted that the results were significantly impacted by the planned annual turnaround at the company’s Bharuch complex during April 2025, making year-on-year comparisons not meaningful.

For Q1 FY26, standalone operating revenue stood at Rs 16.01 billion, compared to Rs 20.21 billion in Q1 FY25 and Rs 20.55 billion in Q4 FY25. Total revenue for the quarter came in at Rs 17.51 billion, down from Rs 21.20 billion in the same quarter last year.

Profit before tax (PBT) declined to Rs 1.05 billion, compared to Rs 1.57 billion in Q1 FY25 and Rs 2.87 billion in Q4 FY25. Profit after tax (PAT) was Rs 780 million, down from Rs 1.15 billion in Q1 FY25 and Rs 2.10 billion in the previous quarter.

The MD explained that the scheduled maintenance impacted the company through lower volumes, unproductive expenditure, and higher fixed costs—especially on repairs and maintenance. However, he added that the change in other comprehensive income was positively influenced by an improvement in the fair market value of both quoted and unquoted investments.

In a significant development during the quarter, the company succeeded in securing an extension of the anti-dumping duty on Aniline, which was originally due to expire in July 2025 and has now been extended until July 2030.

The company continues to work in close coordination with government agencies to ensure fertiliser availability as per allocation priorities. A substantial improvement in cash flow was also reported due to timely subsidy disbursements from the Government of India on a year-on-year basis.

Furthermore, discussions are ongoing with the government regarding the revision of both energy and fixed costs. The company expects an announcement on this matter by the end of the calendar year.