Styrenix Performance Materials Limited announced its financial results for the second quarter and first half of FY27. The company reported a total income of INR781 crores for Q2 FY27, marking a 26.5% growth year-on-year. EBITDA for the quarter stood at INR84.5 crores, a 3.3% increase, with an EBITDA margin of 10.8%. For the first half of FY27, total income grew by 15.8% to INR1,551 crores, while EBITDA surged by 70% to INR286 crores. The company also discussed its expansion plans and market strategies.
Styrenix Performance Materials Limited: Q2 and H1 FY27 Earnings Call Transcript Highlights
Styrenix Performance Materials Limited held its earnings call on October 29, 2026, to discuss the financial results for the second quarter (Q2) and the first half (H1) of the Financial Year 2027 (FY27). The call provided insights into the company’s operational performance, market dynamics, and future expansion strategies.
Q2 FY27 Standalone Financial Performance
The company reported a total income of INR781 crores for Q2 FY27, representing a significant year-on-year growth of 26.5%. EBITDA for the quarter was INR84.5 crores, an increase of 3.3%, with an EBITDA margin of 10.8%. Profit after tax saw a marginal growth of 0.8% to INR51.2 crores. Sales volume for Q2 FY27 stood at 43.4 KT.
H1 FY27 Standalone Financial Performance
For the first half of FY27, Styrenix recorded a total income of INR1,551 crores, a growth of 15.8% compared to the previous year. EBITDA for H1 FY27 showed substantial growth of 70%, reaching INR286 crores, with an improved EBITDA margin of 18.4%. Profit after tax grew by an impressive 78.4% to INR188.5 crores. Sales volume for H1 FY27 was 82.4 KT.
Q2 FY27 Consolidated Financial Highlights
On a consolidated basis, total income for Q2 FY27 was INR997 crores. EBITDA stood at INR75.6 crores with an EBITDA margin of 7.6%. Consolidated sales volume for Q2 FY27, including India and Thailand, was 55.1 KT.
H1 FY27 Consolidated Financial Highlights
For the first half of FY27, consolidated total income reached INR2,009.8 crores. EBITDA for H1 FY27 was INR299.2 crores, achieving an EBITDA margin of 14.9%. Consolidated sales volume for H1 FY27 was 106 KT.
Expansion and Market Strategy
The company highlighted that its Phase 1 expansion plan is on track and expected to commence operations within the current financial year. Management discussed strategies to address market volatility, particularly in crude oil prices, and maintain operational efficiency. The focus remains on navigating input cost fluctuations and ensuring supply continuity.
Regarding new capacities, the company is expected to cater to specific imported grades, such as the refrigeration liner ABS grade, for which local players historically lacked capability. The integration of technology from Thailand and new Indian capacity will enable Styrenix to address this market segment.
The company also addressed its polystyrene business, noting a shift towards OEM-driven demand for HIPS, with over 70-80% of its HIPS capacity now fulfilled by OEM demand. For General Purpose Polystyrene (GPPS), the company has adopted a cautious approach due to market volatility, choosing not to participate in speculative segments.
Thailand Business Outlook
The Thailand business is expected to see a gradual improvement over the next two years, with ongoing cost restructuring initiatives aimed at enhancing competitiveness. While current volumes in Thailand have been stable, the company anticipates incremental business growth through exports to regions like China, Japan, and Vietnam. Cost savings and a favorable product mix are expected to make the Thailand business structurally profitable.
New Product Launches
Styrenix has launched two new grades: ASALAC (an ASA product with excellent weatherable properties for automotive and EV applications) and STYROLOY (blends of polycarbonate ABS, nylon ABS, and other products). These new products are expected to contribute to portfolio growth and potentially improve margins over time.
Capex and Future Utilization
The company is investing in expanding capacities across its Nandesari, Katol, and Moxi plants. These expansions are expected to come online within the financial year, with the aim of synchronizing operations. Management expressed confidence that a significant portion of this new capacity will be utilized in the next financial year.
Source: BSE
