Chemplast Sanmar Ltd
Chemplast Sanmar Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Specialty Chemicals segment is driving growth, with a 10% YoY increase in H1 FY '26, aided by volumes from the new Paste PVC plant at Cuddalore. Chemplast Sanmar anticipates revenue growth in its Custom Manufactured Chemicals (CMC) business, targeting INR1,000-1,200 crores by FY '27-'28.
From Chemplast Sanmar Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Specialty Chemicals segment is driving growth, with a 10% YoY increase in H1 FY '26, aided by volumes from the new Paste PVC plant at Cuddalore.
- Custom manufacturing (CMCD) pipeline remains strong with ongoing commercialization of new molecules and active customer engagement.
- Long-term outlook for CMCD is positive despite near-term price pressure and slower ramp-up of new agrochemical molecules.
- Value-added Chemicals segment revenue declined 9-12% due to lower caustic production and market softness.
- Suspension PVC volumes improved 11% YoY despite volatile pricing and competition from Chinese and US suppliers.
- Planned capacity expansions in refrigerant gas R32 (starting Q1 2026), and CMCD expect to support future revenue growth.
- Expect CSM segment to achieve INR1,000 crores in revenue by FY 2027-28, maintaining EBITDA margins between 20-25%.
- Indian PVC demand remains strong and growing; capacity expansions are unlikely to make India a net exporter in near term.
Profitability & Margins
See what Chemplast Sanmar Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Ongoing Capex includes refrigerant gas R32 capacity expansion:
- - Swing plant conversion of existing R22 plant (~2 kt) to be ready by January 2026.
- - Another 2 kt plant expected by April 2026.
- - Plans for a new 10 kt plant under engineering and awaiting regulatory clarity; decision expected by December 2025.
- - Estimated Capex for the 10 kt plant around INR 250 crores.
- CMCD (Custom Manufacturing) business expansion:
- - Targeting to be self-sustaining in operating cash flow by FY '27-'28 with revenues crossing INR 1,000-1,200 crores.
- - Majority of expansion expected on the existing site at Berigai, with a backup alternate site identified.
- Major Paste PVC and Suspension PVC plants commissioned recently; capacity ramp-up ongoing.
- Green power initiatives underway to improve profitability and support future growth.
- Debt levels have peaked; deleveraging expected as benefits of new capacities and green power materialize.
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Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Chemplast Sanmar Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The pipeline for the Custom Manufactured Chemicals (CMC) business is mostly agrochemicals, with some projects in non-agrochemicals such as pharma and fine chemicals.
- The company has commercialized 3 molecules so far this year, with one more expected in Q4 FY '26.
- Customer engagement remains very strong, and product pipeline traction continues positively.
- Long-term demand and market projections for the business remain strong despite near-term price pressures.
- The company's CMC division aims to reach revenues of INR 1,000 crores by FY '27.
- Overall, the orderbook and project pipeline are robust, supporting the company's growth and capacity ramp-up plans.
Chemplast Sanmar Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹1.3K Cr, net loss ₹45 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Chemplast Sanmar Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were Chemplast Sanmar Ltd Q2 FY26 results?
Specialty Chemicals segment is driving growth, with a 10% YoY increase in H1 FY '26, aided by volumes from the new Paste PVC plant at Cuddalore. Chemplast Sanmar anticipates revenue growth in its Custom Manufactured Chemicals (CMC) business, targeting INR1,000-1,200 crores by FY '27-'28.
What is Chemplast Sanmar Ltd share price analysis?
Chemplast Sanmar Ltd currently shows a neutral. The stock trades at a P/E of N/A with a market cap of ₹2,911 Cr. Investors should review the full earnings analysis for detailed insights.
Is Chemplast Sanmar Ltd planning capital expenditure?
Ongoing Capex includes refrigerant gas R32 capacity expansion: - Swing plant conversion of existing R22 plant (~2 kt) to be ready by January 2026.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.