Indo Borax & Chemicals Ltd

Q1 FY27Chemicals & Petrochemicals

Indo Borax & Chemicals Ltd Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book

Q1 FY27 earnings call: what management guided on revenue, margins and order book.

Price₹511

Market cap₹1.7K Cr

P/E33.8

Published9 Sept 2026

The short version

Indo Borax expects revenue of Rs. The company aims for long-term value creation rather than just quarter-to-quarter focus. - For FY 27-28, an EBITDA margin of around 20% is expected, slightly lower than the exceptional Q1 EBITDA of 28%. - Revenue guidance for the current year is Rs.

From Indo Borax & Chemicals Ltd's Q1 FY27 earnings-call transcript · updated 9 Sept 2026.

Revenue & Sales Performance

Indo Borax expects revenue of Rs. 250-260 crores in FY27 with about 20% EBITDA margin, growing at 11-12% annually in absolute terms.
Plans to add capacities in Boron oxide and Boric acid to drive further margin expansion and year-on-year growth.
Kronox's revenue potential is expected to be 3 to 3.5 times current levels after completion of Dahej capex.
Dahej capex benefits to start reflecting from FY29, with full impact by FY30-31.
Kronox's existing plants are at full utilization but operational improvements could provide 15-20% additional capacity before capex benefits.
Indo Borax aims to grow the DOT product volume from 750 tons to 1,500 tons this year, with further upside potential.
Overall, organic growth, capacity expansion, and new product launches (especially at Kronox) are key drivers for medium to long-term growth.

Profitability & Margins

The company aims for long-term value creation rather than just quarter-to-quarter focus.
For FY 27-28, an EBITDA margin of around 20% is expected, slightly lower than the exceptional Q1 EBITDA of 28%.
Revenue guidance for the current year is Rs. 250-260 crores, up from Rs. 215 crores last year, with 11-12% growth in EBITDA.
Capacity utilization improvements and price adjustments amid raw material cost increases are considered.
Planned Capex of around Rs. 50 crores over the next 2-3 years to expand Boron oxide, Boric acid, and Zinc Borate capacities, supporting future growth.
Kronox has a Rs. 110 crores Capex plan funded through internal accruals, indicating potential revenue uplift.
Focus remains on growing EBITDA and profitability through operational efficiencies and new product launches by FY 29-30.
EPS growth is supported by improving margins and expanded product mix, with Q1 FY27 EPS at Rs. 5.07 showing a 59% YoY increase.

See what Indo Borax & Chemicals Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Indo Borax plans approximately Rs. 50 crores capex over the next 2-3 years, primarily in Boron Oxide (Rs. 20 crores) and Boric Acid (Rs. 20-25 crores), with some allowance for inflation rounding to Rs. 50 crores.
There is also planned capex for Zinc Borate as part of the overall Rs. 50 crores investment in specialty chemical expansion.
Kronox has a capex plan of about Rs. 110 crores to be executed in phases, with Rs. 80 crores already in cash on their balance sheet. The initial phase will use Rs. 55-60 crores, fully funded from internal accruals.
The Kronox capex execution is expected to take 18-24 months.
There are no current plans to merge the two companies; both will continue as separate entities with a common leadership team for operational efficiencies.
The focus remains on organic growth complemented by bolt-on acquisitions, with no immediate plans for further acquisitions beyond Kronox.

Fundraising & Capital Structure

- Indo Borax & Chemicals is working with lenders for a term loan expected in the next couple of weeks to fund open offer consideration of Rs. 151 crores and the gap payment to promoters. - The total funding available is Rs. 432 crores, exceeding the required Rs. 400 crores for the acquisition. - Promoter group has committed an additional Rs. 25 crores as a contingency for open offer acceptance. - There is no restriction on running both Indo Borax and Kronox with a common leadership team, with clear expense allocation on arm’s length basis. - No specific timelines or updates have been provided for unpledging shares pledged for acquisition financing; it's a work in progress. - Kronox has no immediate equity fundraising planned; it has Rs. 80 crores cash and internal accruals for its Rs. 110 crores planned Capex. Overall, funding is primarily through debt (term loan) and existing cash, with no current equity issuance disclosed.

See what Indo Borax & Chemicals Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript from the provided pages does not explicitly mention details about the current or expected order book or pending orders for Indo Borax & Chemicals Limited or Kronox. However, related insights include: - Q1 FY27 showed robust execution with steady orders across domestic markets supporting revenue and profit growth (Page 4). - The company is focusing on capacity utilization improvement and higher realization amid steady orders (Page 4). - No specific numbers or values of order book or pending orders were disclosed during the call. Therefore, no precise figures or commentary on pending or expected orders are available in this transcript.

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Indo Borax & Chemicals Ltd — Quarterly revenue & net profit

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Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹63 Cr, net profit ₹15 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Indo Borax & Ch.'s management said in earlier quarters

Q4 FY26 earnings call analysis →

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Frequently Asked Questions

What were Indo Borax & Chemicals Ltd Q1 FY27 results?

What is Indo Borax & Chemicals Ltd share price analysis?

Indo Borax & Chemicals Ltd currently shows a neutral. The stock trades at a P/E of 33.8 with a market cap of ₹1,652 Cr. Investors should review the full earnings analysis for detailed insights.

Is Indo Borax & Chemicals Ltd planning capital expenditure?

Indo Borax plans approximately Rs.

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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.