IG Petrochemicals Ltd. EBITDA Rises to ₹120 Crore in Q1 FY27

I G Petrochemicals Limited reported EBITDA of ₹120 crore in Q1 FY27, compared with ₹13 crore in Q1 FY26, as revenue rose 30% year on year to ₹625.1 crore and the EBITDA margin increased to 19.2% from 2.7%.

What did IG Petrochemicals Ltd. report for Q1 FY27?

IG Petrochemicals Ltd. reported a substantial improvement in quarterly profitability for the quarter ended June 30, 2026. The company’s standalone revenue reached ₹625.1 crore, against ₹480.9 crore in Q1 FY26. It said improved margins across products supported the quarterly performance.

EBITDA rose to ₹120 crore from ₹13 crore a year earlier. Profit before tax was ₹94.9 crore, compared with a loss before tax of ₹10.8 crore in Q1 FY26. Profit after tax turned to ₹71 crore from a loss of ₹8.2 crore in the corresponding quarter of the previous financial year.

The figures were included in the investor presentation released in August 2026 following the company’s disclosure under Regulation 30 of the Securities and Exchange Board of India’s Listing Obligations and Disclosure Requirements Regulations, 2015. The presentation relates to the standalone and consolidated unaudited financial results for the June quarter.

How did the company’s margins change during the quarter?

IG Petrochemicals Ltd.’s EBITDA margin improved by 16.5 percentage points to 19.2% in Q1 FY27 from 2.7% in Q1 FY26. The increase in operating profit was significantly larger than the revenue growth, indicating that the recovery was driven by better profitability across the company’s product portfolio.

The company reported EBITDA of ₹130.4 crore for the full FY26 on revenue of ₹1,953.7 crore, equivalent to an EBITDA margin of 6.7%. Q1 FY27 EBITDA of ₹120 crore was therefore close to the EBITDA reported for the entire preceding financial year. This comparison highlights the scale of the June-quarter improvement, although the presentation does not provide a full-year forecast.

What business supports IG Petrochemicals Ltd.’s earnings?

IG Petrochemicals Ltd. manufactures Phthalic Anhydride, a chemical intermediate used in plasticisers for PVC products, shoe soles and other applications. Phthalic Anhydride is also used in alkyd resins for paints, dyes and pigments, and unsaturated polyester resins.

The company operates an integrated complex at Taloja in Maharashtra. Its August 2026 presentation stated that installed capacity across five plants was 275,110 metric tonnes per annum. IG Petrochemicals Ltd. described itself as India’s largest single-site Phthalic Anhydride manufacturer, with around 50% of the domestic Phthalic Anhydride market.

Its portfolio also includes Maleic Anhydride, Benzoic Acid and Di-ethyl Phthalate. The company has stated that it is the sole domestic producer of Maleic Anhydride. Its customer base spans paints, plasticisers and composites, linking its business to demand from several downstream manufacturing categories.

Why is the June-quarter recovery important for investors?

The June-quarter result marks a reversal from the weak profitability reported in Q1 FY26, when the company recorded an EBITDA margin of 2.7% and a net loss of ₹8.2 crore. The shift to a ₹71 crore net profit in Q1 FY27 is important because it reflects a meaningful change in operating economics rather than revenue growth alone.

The company has previously identified product spreads as a key factor in profitability. In Q3 FY24, it said profitability had been affected primarily by lower Phthalic Anhydride-Orthoxylene spreads. Orthoxylene is a basic petrochemical used to produce Phthalic Anhydride, making the relationship between raw-material costs, product pricing and spreads relevant to earnings.

For the broader chemicals sector, the figures show how changes in margins can have a substantial effect on financial performance at companies that convert petrochemical inputs into intermediates. IG Petrochemicals Ltd.’s June-quarter presentation attributes the improvement to better margins across products, but it does not quantify product-wise volumes, prices or raw-material costs.

What operational developments have the company disclosed?

IG Petrochemicals Ltd. has previously outlined diversification initiatives beyond its core Phthalic Anhydride business. In its November 2024 presentation, it said a plasticiser plant was expected to be completed by Q3 FY26, subject to necessary approvals. It also stated that its first compressed biogas plant, with capacity of 5 tonnes per day, was under implementation.

The August 2026 presentation provided the updated installed capacity figure of 275,110 metric tonnes per annum across five plants at Taloja. It did not provide an updated completion status for the plasticiser or compressed biogas projects in the information provided. Investors will therefore need to rely on subsequent company disclosures for progress on these initiatives and their commercial contribution.

Conclusion

IG Petrochemicals Ltd. delivered a sharp first-quarter recovery in FY27, with revenue rising to ₹625.1 crore and EBITDA reaching ₹120 crore. The movement from a ₹8.2 crore net loss in Q1 FY26 to a ₹71 crore profit in Q1 FY27 was supported by an expansion in EBITDA margin to 19.2%.

The next disclosures to watch are the company’s updates on product margins, quarterly operating performance and the status of the plasticiser and 5-tonnes-per-day compressed biogas projects. The provided Q1 FY27 presentation does not give a revised completion schedule or a financial target for those projects.