IG Petrochemicals Ltd reported a 12.5% revenue drop and a significant profit decline for FY26 due to raw material price volatility. The company recommended a dividend of ₹5 per share.
FY 2025-26 Revenue: ₹1,953.66 crore FY 2025-26 PAT: ₹23.16 crore Reader Takeaway: Revenue and profit fell, but diversification and integration plans offer future potential. ## What just happened IG Petrochemicals Ltd (IGPL) has reported its financial results for the fiscal year 2025-26. The company saw a 12.5% year-over-year decline in total revenue, falling to ₹1,953.66 crore from ₹2,233.97 crore in FY 2024-25. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also saw a significant drop to ₹130.43 crore, down from ₹248.39 crore. Profit After Tax (PAT) was ₹23.16 crore, a substantial decrease from ₹112.47 crore in the previous fiscal year. Earnings Per Share (EPS) reduced to ₹7.52 from ₹36.52. ## Why this matters The financial performance indicates significant challenges faced by IGPL during FY 2025-26. Margin compression, driven by volatile crude-linked raw material prices and foreign exchange fluctuations, impacted profitability. Despite these pressures, the company's Board has recommended a dividend of ₹5 per equity share, signalling a commitment to returning value to shareholders. ## The backstory IGPL operates in the Phthalic Anhydride (PAN) business. The current fiscal year's performance was affected by geopolitical tensions in the Middle East. The company is also undertaking strategic expansion into new areas like plasticizers and green energy. ## What changes now The company has achieved mechanical completion of its Advance Plasticizer plant in March 2026. This plant is expected to strengthen PAN consumption through forward integration. Furthermore, IGPL is entering the green energy sector with a Pyrolysis Oil plant under construction and initiatives in Compressed Biogas (CBG). ## Risks to watch Key risks include continued volatility in crude-linked raw material prices and foreign exchange fluctuations. The successful commissioning and operational efficiency of the new Advance Plasticizer plant and green energy ventures will be crucial. ## Peer comparison (No peer comparison data available in the filing) ## Context metrics (time-bound) The company achieved mechanical completion of its Advance Plasticizer plant in March 2026. The Pyrolysis Oil plant is expected to be completed in CY2026. ## What to track next Investors will be looking for the commissioning of the Advance Plasticizer plant and the progress of green energy projects in FY 2026-27. Monitoring raw material price stability and the impact of debt restructuring efforts will also be important.
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