IG Petrochemicals FY26: Q4 margin rebound, but full-year profits reset as costs stayed high

As per the investor presentation (standalone), Q4 FY26 total revenue was INR 529.9 crore, EBITDA INR 74.5 crore (14.1% margin) and PAT INR 37.2 crore. For FY26, total revenue was INR 1,953.7 crore, EBITDA INR 130.4 crore (6.7% margin) and PAT INR 23.2 crore.

The presentation states IGPL has 270,000 MTPA installed PAN capacity across five plants at Taloja and has about 50% share of India’s PAN market.

The investor presentation states the plasticizer plant achieved mechanical completion in March 2026. Management said pre-operative activities are ongoing and commercial production is expected to start soon after completion of these activities.

The investor presentation and concall state the compressed biogas (CBG) plant is on track and targeted to achieve mechanical completion by Q2 FY27.

The investor presentation states exports contributed approximately 12% of total revenue in Q4 FY26 and 11% for FY26.

Yes. Management indicated planning to sell around 200,000 tons of phthalic anhydride in the domestic market in FY27 and guided plasticizer production of about 20,000 to 25,000 tons, subject to ramp-up timing.

Management cited high raw material prices, pricing pressure on PAN and MAN, high-cost inventory and inventory loss over the prior nine months, and a one-time mark-to-market forex impact as key factors affecting FY26 profitability.