Yasho Industries Q1 FY27: Volume-led growth lifts margins as capex plans double

Consolidated total income was INR 309.06 crore, EBITDA was INR 74.42 crore (24.18% margin), and PAT was INR 36.05 crore (11.72% margin).

In Q1 FY27, industrial chemicals contributed 89% of revenue and consumer chemicals contributed 11% (vs 87% and 13% respectively in Q1 FY26).

International contributed 69% and domestic contributed 31% in Q1 FY27 (vs 67% and 33% in Q1 FY26).

Management increased FY27 capex guidance from INR 125 crore to INR 250 crore, primarily for constructing two new production buildings at the Pakhajan facility.

Management indicated equipment deliveries expected in Q3 FY27, trial production from Q4 FY27, and commercialization expected in Q1 FY28.

Management revised FY28 revenue target to more than INR 1,600 crore and indicated a target of 30% to 40% annual revenue growth for the next two to three years.

Debt to EBITDA was reported at 1.86x in Q1 FY27 and the working capital cycle improved from 190 days to 143 days.