📉 The Financial Deep Dive
India Glycols Limited announced strong Q3 FY26 results, showcasing significant year-on-year improvements. On a standalone basis, Profit After Tax (PAT) grew by 21.04% to ₹65.07 crore, driven by a 5.25% rise in revenue from operations to ₹2,551.06 crore.
Consolidated performance was equally impressive. PAT increased 19.00% YoY to ₹67.57 crore. A key highlight was the 36.09% surge in consolidated EBITDA to ₹176.21 crore, leading to a notable margin expansion from 5.34% in Q3 FY25 to 6.91% in Q3 FY26.
For the nine-month period, standalone PAT climbed 31.89% YoY to ₹171.49 crore, with revenue up 9.00% YoY to ₹7,464.80 crore. Consolidated PAT grew 23.35% YoY to ₹205.88 crore.
The company reported an exceptional item of ₹0.83 crore for both the quarter and nine-month period, related to additional employee benefit expenses from implementing new Labour Codes.
🚀 Strategic Analysis & Impact
India Glycols is undertaking significant corporate restructuring. The Board approved a modified Scheme of Arrangement, now focusing exclusively on the demerger of the Bio Pharma undertaking and the Spirits & Biofuel Undertaking, with an appointed date of April 1, 2026. This strategic pivot aims to unlock value by segregating business verticals.
Financially, the company bolstered its capital base by successfully completing a preferential allotment, raising approximately ₹467 crore at ₹915 per share. A 10:5 stock split was also executed, affecting prior period EPS figures.
🚩 Risks & Outlook
No forward-looking management guidance was provided, making future performance projections uncertain. Investors will need to closely monitor the execution of the demerger scheme, which carries inherent integration and regulatory risks. The strong performance in the Bio-Fuel segment during Q3 is a positive indicator, but the mixed performance of other segments warrants attention. The successful capital raise provides financial flexibility for future growth initiatives.