Laxmi Organic Q1 FY27 Revenue Soars 40% to ₹968.3 Crore on Strong Demand
Laxmi Organic Industries reported a 40% year-on-year revenue growth to ₹968.3 crore in Q1 FY27. EBITDA surged 272% to ₹114.3 crore. Specialty business revenue rose 17% and Essentials business revenue increased 50%. The Dahej Phase 2 project is on track for ramp-up in Q4 FY27, with full-year capex estimated at ₹125-150 crore.
The substantial increase in revenue and profitability, coupled with positive updates on key expansion projects, is expected to have a significant positive impact on the company's financial performance and investor sentiment.
The company reported significant year-on-year growth in revenue and EBITDA, along with positive performance in both its specialty and essentials businesses. The progress on major projects like Dahej and Hitachi also contributes to a positive outlook.
Laxmi Organic Industries Limited announced strong financial results for Q1 FY27, with revenue reaching ₹9,683 million (₹968.3 crore), a significant increase of 40% year-on-year and 32% sequentially. This growth was driven by a combination of volume expansion and improved price realization, alongside supply chain agility and procurement efficiencies.
EBITDA for the quarter was ₹1,143 million (₹114.3 crore), marking a substantial rise of 272% year-on-year and 113% sequentially. The company's specialty business revenue grew by 17% year-on-year to ₹2,418 million (₹241.8 crore), while the Essentials business revenue surged by 50% year-on-year to ₹7,265 million (₹726.5 crore), supported by double-digit volume growth.
The company's Dahej project, Phase 2, is progressing well, with mechanical completion and stabilization expected in Q2 and customer qualification in Q3, aiming for ramp-up in Q4. The capex for the full year is estimated between ₹125 crore to ₹150 crore. The term debt has peaked at approximately ₹6,100 million (₹610 crore), with a net debt-to-equity ratio of 0.3x. Repayment of debt is scheduled to commence next year and continue for five years. Incremental depreciation is expected to be around ₹7-7.5 crore per quarter starting next quarter.
The company also provided updates on its Project Vaayu (Hitachi project), anticipating mechanical completion in early Q3, with revenue recognition expected from FY28. Regarding electrochemical fluorination, Laxmi Organic sees it as a technology platform for its specialty business pipeline, with further details on partnerships to be announced later. The company expects its Dahej Phase 2 capex to be capitalized during the second quarter.
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