ChemBond’s FY26: Water-led growth, steady margins, and a bigger second half

FY26 consolidated revenue was 326.15 crore. Operating EBITDA was 46.3 crore (about 14% margin). Profit after tax was 34.0 crore (about 10% margin).

Water Treatment (Water Technologies) was the largest segment, at 87% of FY25-26 revenue share as per the presentation.

H2 FY26 consolidated revenue was 187.7 crore, up 35.6% versus H1 FY26. H2 EBITDA was 29.1 crore (up 31%) and H2 PBT was 25.9 crore (up 33%) versus H1.

Management stated that about 28% to 30% of the water business is from public sector units, mainly power plants and refineries.

Management cited sharp raw material cost inflation and said it takes a couple of quarters to pass increases through; they noted an immediate period impact of about 3% on margins and more rigidity in PSU contract price revisions.

Water BU: revenue 120.31 crore to 162.16 crore; volume 9,905 MT to 14,813 MT. Construction: revenue 11.05 crore to 13.28 crore; volume 1,988 MT to 2,590 MT. Distribution: revenue 8.96 crore to 12.5 crore; volume 594 MT to 1,049 MT.