IOL Chemicals and Pharmaceuticals Q4 FY26: Margin rebound led by pharma mix

Q4 FY26 revenue from operations was INR 619.5 crore, EBITDA was INR 94.3 crore (15.2 percent margin), and PAT was INR 53.2 crore (8.6 percent margin).

FY26 revenue from operations was INR 2,319.1 crore, EBITDA was INR 290.4 crore (12.4 percent margin), and PAT was INR 137.7 crore (5.9 percent margin).

FY26 segment revenue was INR 1,396.3 crore from pharmaceuticals and INR 922.8 crore from chemicals (net of intersegment), which the presentation indicates as roughly 60 percent pharma and 40 percent chemicals.

The presentation states ibuprofen share in pharma was 82 percent in FY21 and 63 percent in FY26, indicating an increased contribution from other APIs. Management also cited a quarter mix of about 62 percent ibuprofen and 38 percent non ibuprofen.

Management stated key APIs including ibuprofen and major non ibuprofen products were running at about 85 to 95 percent utilization. Ethyl acetate and acetic anhydride were stated to be around 98 to 100 percent utilization.

Management said paracetamol enhanced capacity utilization is around 55 percent on the expanded 10,800 MTPA capacity, guided to rise to 70 to 75 percent in FY27 and reach full utilization by FY28.

Management said the new site is in the approval stage with environmental clearance already done and other approvals awaited. They indicated a broad capex mindset of INR 1,200 to 1,400 crore, phased over multiple years, with a stated annual capex run rate of roughly INR 200 to 250 crore and projects coming up over 4 to 5 years.