NOCIL Q4 FY26: Volumes recover, margins wait for pricing and approvals

FY26 net revenue from operations was INR 1,303 crore, operating EBITDA was INR 101 crore (7.7% margin), and net profit was INR 56 crore, as per the consolidated P&L shared in the investor presentation.

In Q4 FY26, net revenue from operations was INR 330 crore versus INR 316 crore in Q3 FY26. Operating EBITDA was INR 21 crore and net profit was INR 17 crore, per the consolidated quarterly P&L table.

Management stated the TDQ capex at Dahej (announced 26 March 2024) has been completed, remains within the INR 250 crore budget, and has entered trial production. Customer validation and sampling are underway.

Management stated the company announced an INR 130 crore capex on 16 March 2026 to set up a comprehensive integrated facility in the specialty portion of its rubber chemicals business, targeted for completion by H1 FY28.

Management stated DGTR recommended positive final findings for antioxidant TDQ and Sulphenamides covering CBS and NS in March 2026, subject to Central Government approvals. Findings for Pilflex 13 and 4ADPA were stated to be pending.

Management stated the split is about 70% domestic and 30% exports in volume terms, and approximately 67% domestic and 33% exports in value terms.