Chemplast Sanmar Ltd Q2 Revenue Rises 28%, EBITDA Up 158%

Chemplast Sanmar Ltd reported Q2 FY27 revenue of ₹1,323 crore, up 28% year-on-year, while EBITDA increased 158% year-on-year to ₹111 crore and margin improved to 8%. The quarterly net loss narrowed sharply to ₹5 crore from ₹51 crore a year earlier and ₹176 crore in Q1 FY27.

What did Chemplast Sanmar Ltd report for Q2 FY27?

Chemplast Sanmar Ltd recorded a stronger operating performance in the quarter ended September 30, 2026, with revenue from operations of ₹1,323 crore. The 28% year-on-year increase was accompanied by EBITDA of ₹111 crore, compared with an EBITDA margin of 4% in Q2 FY26.

The company reported an EBITDA margin of 8% for Q2 FY27. This was also an improvement from the negative 10% margin reported in Q1 FY27, indicating a sequential recovery in operating profitability.

Despite the improvement in earnings before interest, tax, depreciation and amortisation, Chemplast reported a net loss of ₹5 crore for the quarter. The loss was substantially lower than the ₹51 crore loss in Q2 FY26 and the ₹176 crore loss in the preceding quarter. No exceptional items were reported during Q2 FY27.

Which businesses supported Chemplast Sanmar Ltd's quarter?

Paste PVC demand and the Custom Manufactured Chemicals Division, or CMCD, supported Chemplast's Q2 FY27 performance. These business segments contributed to the revenue and operating-margin recovery reported during the quarter.

The company also recorded initial sales of R-32, a refrigerant gas. Chemplast has indicated that additional R-32 capacity is expected by the end of FY27, making this product line a disclosed operational development for investors to monitor.

However, conditions were not uniform across the portfolio. Suspension PVC and value-added chemicals faced demand and margin pressure during the quarter. The mixed performance across products explains why the company remained loss-making at the net-profit level despite the sharp rise in EBITDA.

How does Q2 compare with Chemplast Sanmar Ltd's previous quarter?

Q2 FY27 represented a notable sequential improvement from Q1 FY27, when Chemplast reported revenue of ₹1,124.66 crore and a net loss of ₹175.58 crore, also cited as ₹176 crore on a rounded basis. Q1 revenue had risen 2.25% year-on-year from ₹1,099.90 crore, but was 10.42% below the ₹1,255.55 crore reported in Q4 FY26.

The move from a negative 10% EBITDA margin in Q1 FY27 to a positive 8% in Q2 FY27 is the clearest operating change in the available data. Revenue increased by about ₹198 crore sequentially based on the reported quarterly figures, while the net loss narrowed by about ₹171 crore using the rounded Q1 loss figure.

The reported data does not provide H1 FY27 revenue, EBITDA or profit figures. Chemplast's board considered and approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, but the supplied information contains only selected quarterly financial metrics.

What does the Q2 performance mean for investors and operations?

For investors, the quarter shows that Chemplast's operating earnings recovered meaningfully year-on-year and sequentially, but net profitability has not yet turned positive. The 8% EBITDA margin and the reduction in loss to ₹5 crore are central to assessing the improvement, while pressure in Suspension PVC and value-added chemicals remains relevant to the business outlook.

The initial R-32 sales add a new disclosed operating milestone. Capacity expected by the end of FY27 is a future operational target rather than a reported financial contribution, so its revenue or margin effect cannot be quantified from the available information.

Chemplast operates in specialty chemicals in India. The quarterly results also underline the importance of segment-level demand and margins in a portfolio that includes PVC products, custom manufactured chemicals and value-added chemicals. The supplied data does not disclose share-price performance, production volumes, pricing changes or detailed segment financials.

When will management discuss the Q2 and H1 FY27 results?

Chemplast scheduled an earnings conference call for November 5, 2026, at 2:00 PM IST, following the November 4 board meeting that considered the Q2 and H1 FY27 results. The call is intended to discuss operational and financial performance for the quarter and half year ended September 30, 2026.

The listed participants are Managing Director S Ganeshkumar, Chief Financial Officer A R Balaji, Business Head of the Custom Manufactured Chemicals Division Dr. Krishna Kumar Rangachari, and Executive Director, Finance N Muralidharan. Investors may look for management commentary on Paste PVC demand, Suspension PVC margins, value-added chemicals and the R-32 capacity schedule.

Conclusion

Chemplast's Q2 FY27 results show a clear improvement in operating performance, with revenue rising 28% year-on-year to ₹1,323 crore, EBITDA reaching ₹111 crore and margin improving to 8%. The company nevertheless reported a ₹5 crore net loss, reflecting that the recovery in operations has not yet translated into quarterly profitability.

The next disclosed event is the November 5, 2026 earnings call. Management's discussion of demand and margin conditions in Suspension PVC and value-added chemicals, along with progress towards additional R-32 capacity by the end of FY27, will provide the next set of company-specific updates.