MCON Rasayan FY26: Strong H2 Recovery, 29% Revenue Growth, and a Wider India Footprint

FY26 net sales were INR 652.4 million (about INR 65.24 crore), up 28.6% year on year versus FY25, as per the investor presentation financial table.

FY26 EBITDA was INR 76.5 million (about INR 7.65 crore) and PAT was INR 30.4 million (about INR 3.04 crore), with EBITDA margin of about 11.7% and PAT margin of about 4.7%.

As per the FY26 revenue contribution slide, Ready Mix Mortar contributed 27%, Tile Adhesives and Grouts 25%, Concrete 9%, Admixture 9%, Waterproofing Systems 8%, Wall Finish and Paints 8%, Concrete Flooring 4%, Engineering Grouts 4%, and Others 6%.

FOCO stands for Franchise-owned, company-operated. The company reported 7 FOCO partnerships, and management said FOCO plants were commissioned in FY25 and are now ramping up.

Management stated confidence of delivering about 35% to 40% revenue growth over the medium term and targeting EBITDA margins around 12%. On the call, management also indicated FY27 revenue of roughly INR 90 to 95 crore with around 12% EBITDA margin.

Management stated it received approvals under CPWD-linked ecosystems across Maharashtra, Goa, Delhi-NCR, and Gujarat. It also mentioned approval for participation in the Chennai Metro-related project ecosystem, expected to contribute about INR 4 to 5 crore annually over the next five years.

Management acknowledged petrochemical-linked raw material availability issues and price increases. It stated price hikes were implemented from early April and about 70% to 80% of the raw material price impact was covered through pricing actions.