I G Petrochemicals Ltd Q1 FY27 Earnings Analysis

- FY 2027 volumes expected: - Phthalic anhydride (PAN): ~200,000 tons (considering two plants shutdown) - Plasticizer business: 20,000 to 25,000 tons annualized - DEP plant: around 8,000 to 12,000 tons post debottlenecking - Revenue guidance: - If prices remain elevated, revenue could exceed INR 2,500 crores - If moderate prices, revenue expected between INR 2,000 to 2,200 crores - Plasticizer plant commissioning expected to consume 15,000 to 16,000 tons internally from PAN volumes - Optimum utilization of PA (phthalic) and plasticizer plants projected around FY 2027–28 leading to INR 1,000 to 1,100 crores revenue from these segments - Long term: Expected capacity utilization of 70%-80% leading to higher revenue - New plasticizer plant capacity annualized at 24,000-25,000 tons expected by year-end - Expansion capex for adding ~2.75 lakh tons PAN capacity approximated at INR 3,000 crores

- IG Petrochemicals avoids giving specific EBITDA margin or profit guidance due to market volatility and geopolitical uncertainties. - They expect an operational margin of approximately $100 to $120 per ton above market margin based on efficiency and by-product realization. - Full optimum utilization of plasticizer and PA plants is expected by FY 2027-28, targeting around INR 1,000-1,100 crores in revenue from these segments. - Volume growth is moderate with planned production around 2,00,000 tons (phthalic), 20,000-25,000 tons (plasticizer), and 12,000 tons (DEP), factoring in shutdowns. - EBITDA margins in Q4 FY 2026 improved to 14.1%, and company expects profitability to improve moving forward as global macro conditions normalize. - Pricing improvement in PAN and maleic products (15-20% rise internationally) expected to benefit EBITDA directly. - Capex for expanding PAN capacity is about INR 3,000 crores, indicating growth potential over 1-2 years post commissioning.

- IG Petrochemicals is commissioning a plasticizer plant with an installed capacity of 75,000 tons, producing DOP, DINP, and DIPP. - They have completed debottlenecking of their DEP plant, increasing capacity to around 12,000 tons. - A CBG (Compressed Bio Gas) plant is under construction, expected to be completed by end of June/July FY27. - Long-term strategy focuses on equipment upgrades, process improvements, and increasing integration of solar power and renewable sources. - Transition towards natural gas is underway to improve efficiency and reduce emissions. - Total capex for a PAN plant with 2.75 lakh tons capacity is approximately INR 3,000 crores. - The plasticizer project will annually consume 30,000 to 35,000 tons of phthalic, expected to help balance demand and supply in the next 1-2 years.

The provided excerpts from the I G Petrochemicals Limited May 21, 2026 document do not explicitly mention any current or planned future fundraising activities through debt or equity. Key points regarding capital and financial strategy include: - The company has undertaken capex plans, including plasticizer project and capacity expansions, e.g., DEP plant debottlenecking and PA5 plant. - Estimated capex for adding PAN capacity (2.75 lakh tons) is roughly INR 3,000 crores. - There is no direct mention of raising funds through equity or debt in the discussed Q&A or management commentary. - Capital allocation is described as disciplined, supporting capacity expansions and sustainability initiatives. - No specific details about any ongoing or upcoming debt or equity issuances or fundraising rounds were provided in these pages. Therefore, no clear indication of new fundraising through debt or equity is mentioned in the available transcript.

The provided pages from the document "1379.pdf" do not contain specific information regarding the current or expected orderbook or pending orders of I G Petrochemicals Limited. The discussed content mainly focuses on production capacity, price realizations, spreads, plant shutdowns, utilization, operating margins, and market dynamics related to PAN (Phthalic Anhydride), OX (Oxidate), and related products. Therefore, no details about orderbook or pending orders are mentioned or quantifiable from the available excerpts.