Kiri Industries Q1 FY26: Revenue up, DyStar sale on track, Copper project updates
The DyStar sale will significantly impact the company's financials, and the copper project represents a major strategic initiative.
The company reported increased revenue and profit, and the DyStar sale is progressing as planned. The copper project is also advancing.
* Kiri Industries reported an 8% year-on-year increase in standalone revenue from operations, reaching ₹181 crore for Q1 FY26. * EBITDA stood at ₹17.3 crore, compared to ₹13.6 crore in the same quarter of the previous year. * Profit after tax significantly improved to ₹7.2 crore from a loss of ₹1.7 crore in Q1 FY25, primarily due to dividends from Lonsen Kiri. * Consolidated revenue from operations for Q1 stood at ₹202 crore, a growth of approximately 10% year-on-year. * The company is proceeding with the sale of its 37.57% stake in DyStar to Zhejiang Longsheng Group Company Limited for $696 million (₹5,782.52 crore), with a long-stop date of November 3, 2025. * Legal fees related to the DyStar case were approximately ₹7 crore for the quarter. * The copper project is progressing, with technology supply agreements executed and project work commenced. The project team has been expanded to approximately 25 people and is expected to grow to 40-50. * Equity infusion in IndoAsia Copper Limited for the copper project is ongoing, with approximately ₹600 crore still unutilized out of the $130 million (₹1,081.48 crore) allocated. * The company has revised its revenue forecast for the existing dyes business to ₹800-₹900 crore on a standalone basis and ₹1,200-₹1,300 crore on a consolidated basis due to ongoing headwinds and challenges in the textile sector. * The company expects partial revenue from Copper plant in FY'27 close to ₹12,000 crore with 25% capacity utilization. * Management is targeting full debt financial closure for the copper project by December. * Kiri Industries is exploring opportunities in Odisha and has signed an MoU with the Philippines for copper ore sourcing.
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Kiri Industries Limited filed this with the NSE as a statutory disclosure, categorised under results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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