NGL Fine-Chem Q1 FY27: Profits jump as demand holds and expansion nears commissioning

In Q1FY27, revenue from operations was INR 139.16 crore, EBITDA was INR 23.29 crore (16.73% margin), and PAT was INR 18.40 crore.

Management attributed the improvement to healthy operating margins partly supported by inventory gains from price increases, and a reversal in forex mark-to-market from a loss of INR 4.5 crore in Q4FY26 to a gain of INR 2.5 crore in Q1FY27.

Q1FY27 mix was Animal API 95%, Human API 3%, Intermediates 1%, and Formulations 0%.

Q1FY27 geographic mix was Asia 40%, Europe 10%, India 20%, ROW 30%, and USA 0%.

Management said margins are expected to moderate over the coming quarters as price realisations normalise, and framed this as a natural correction rather than a structural change.

Management stated Phase II is on schedule and expected to be commissioned during the current quarter, with commercial production planned from H2FY27.

The presentation states an estimated capex of INR 210 crore, to be funded through debt and internal accrual, with INR 209.71 crore invested till Q1FY27 and civil construction ongoing.