Lords Chloro Alkali Limited FY26 profit rebounds to Rs 28.49 crore

Lords Chloro Alkali reported a profit of Rs 28.49 crore in FY26, compared with a Rs 4.80 crore loss in FY24, as total income reached Rs 393.10 crore and earnings before interest, tax, depreciation and amortisation margin rose to 16.89%. The six-year record nevertheless shows substantial swings in income, margins and profit.

What changed in Lords Chloro Alkali's FY26 results?

Lords Chloro Alkali reported total income of Rs 393.10 crore in FY26, up 44.62% from Rs 271.82 crore in FY25, while profit after tax rose from Rs 6.18 crore to Rs 28.49 crore. Income from operations accounted for Rs 390.14 crore of FY26 total income, compared with Rs 270.22 crore a year earlier, while other income was Rs 2.97 crore against Rs 1.59 crore.

The operating result expanded faster than income in FY26. EBITDA, or earnings before interest, tax, depreciation and amortisation, increased 159.24% to Rs 66.38 crore from Rs 25.60 crore, lifting EBITDA margin by 747 basis points to 16.89% from 9.42%. A basis point is one-hundredth of a percentage point. Basic earnings per share increased to Rs 9.94 from Rs 2.46 in FY25.

How volatile have Lords Chloro Alkali's annual earnings been?

Lords Chloro Alkali's annual record shows a sharp reversal after FY23. Total income rose from Rs 157.33 crore in FY21 to Rs 296.49 crore in FY23, before falling to Rs 224.04 crore in FY24. It then recovered to Rs 271.82 crore in FY25 and reached Rs 393.10 crore in FY26, the highest total income in the six financial years displayed.

Profitability changed more sharply than revenue. Profit after tax moved from a Rs 2.04 crore loss in FY21 to profits of Rs 32.28 crore in FY22 and Rs 53.22 crore in FY23, before a Rs 4.80 crore loss in FY24. Profit returned at Rs 6.18 crore in FY25 and rose to Rs 28.49 crore in FY26, but remained below the Rs 53.22 crore reported in FY23.

The margin series records the same variation. EBITDA margin was 5.09% in FY21, 24.13% in FY22 and 28.73% in FY23, then fell to 1.65% in FY24 before recovering to 9.42% in FY25 and 16.89% in FY26. Profit-after-tax margin changed from 17.95% in FY23 to negative 2.14% in FY24 and 7.25% in FY26.

What does the FY26 income and cost bridge show?

Lords Chloro Alkali's FY26 expenditure increased to Rs 326.73 crore from Rs 246.21 crore in FY25, while the Rs 121.28 crore rise in total income exceeded the Rs 80.52 crore increase in expenditure. Raw-material cost rose to Rs 108.98 crore from Rs 72.82 crore, power and fuel charges rose to Rs 165.01 crore from Rs 137.75 crore, and employee cost increased to Rs 26.03 crore from Rs 18.79 crore.

Power and fuel remained the largest listed expense at Rs 165.01 crore in FY26, exceeding raw-material cost of Rs 108.98 crore. The presentation also recorded a negative Rs 2.20 crore inventory change in FY26, compared with a negative Rs 3.66 crore in FY25, while operating expenses increased to Rs 28.91 crore from Rs 20.52 crore. These line items coincided with EBITDA rising by Rs 40.78 crore year on year.

Below EBITDA, depreciation rose to Rs 16.52 crore in FY26 from Rs 11.74 crore, and interest expense increased to Rs 11.27 crore from Rs 5.72 crore. Consequently, profit before tax increased to Rs 38.59 crore from Rs 8.15 crore, a smaller increase than the change in EBITDA. Tax rose to Rs 10.10 crore from Rs 1.97 crore, leaving reported profit after tax of Rs 28.49 crore.

Did volumes and the balance sheet also expand in FY26?

Lords Chloro Alkali reported volumes of 84,690 tonnes in FY26, up from 65,275 tonnes in FY25 and above the 62,216 tonnes reported in FY24. Revenue, shown in the annual financial highlights as Rs 393.10 crore for FY26, was also above Rs 224.04 crore in FY24. The presentation does not separately disclose the price and volume contributions to annual revenue.

Total assets stood at Rs 478.70 crore on 31 March 2026, compared with Rs 375.89 crore on 31 March 2025. Property, plant and equipment was Rs 250.08 crore, down from Rs 263.91 crore, while capital work-in-progress was Rs 43.85 crore against nil a year earlier. Current assets increased to Rs 142.95 crore from Rs 85.90 crore, including cash and cash equivalents of Rs 29.43 crore versus Rs 3.03 crore.

Total equity and liabilities increased to Rs 478.70 crore from Rs 375.89 crore. Shareholders' funds rose to Rs 242.52 crore from Rs 181.67 crore, while long-term borrowings increased to Rs 96.37 crore from Rs 78.45 crore and short-term borrowings rose to Rs 65.58 crore from Rs 47.80 crore. By 30 September 2026, property, plant and equipment was Rs 304.60 crore and long-term borrowings were Rs 112.13 crore.

Conclusion

Lords Chloro Alkali's FY26 figures establish a material recovery from the FY24 loss: total income reached Rs 393.10 crore, EBITDA reached Rs 66.38 crore and profit after tax reached Rs 28.49 crore. Yet the comparison with FY23, when profit after tax was Rs 53.22 crore on Rs 296.49 crore of total income, shows that annual profit and margins have changed substantially across the six reported years.

The presentation does not state a company profit target, capacity-completion date or earnings guidance. The next disclosures will show whether income growth converts into sustained margins, particularly after Q2 FY27 EBITDA margin fell to 16.29% from 20.93% in Q2 FY26 even as Q2 FY27 income from operations rose 17.34% to Rs 115.40 crore.