Acutaas Chemicals reports strong Q2 FY26 revenue growth, gross margin expansion

Acutaas Chemicals Limited announced 24.1% year-on-year revenue growth to INR306.2 crores for Q2 FY26, with H1 FY26 revenue reaching INR513.4 crores, up 21.3% year-on-year. Gross margin expanded by 1,232 basis points year-on-year to 55.8%, while EBITDA for Q2 FY26 grew almost two-fold to INR95.3 crores, resulting in EBITDA margins of 31.1%. PAT for the quarter increased by 91.3% year-on-year to INR71.9 crores. The company maintains its FY26 revenue growth guidance of 25% and an EBITDA margin expectation of 28% to 30%.

The growth was primarily fueled by a 27.1% increase in the advanced pharmaceutical intermediates segment, achieving INR262.6 crores, supported by CDMO business expansion. The specialty chemicals segment also saw steady growth of 7.3% year-on-year, reaching INR43.6 crores. Capex for H1 FY26 stood at INR141 crores, primarily allocated to the Jaghadia site for electrolyte additive projects and a pilot plant at the Sachin site, with total FY26 capex expected to be around INR250 crores.

The company is progressing with new business verticals, expecting battery chemical production to commence in Q4 FY26 and contributions from the Indichem joint venture in Korea from H2 FY27. Working capital improved to 87 days in Q2 FY26, down from 100 days in Q1 FY26, leading to strong cash generation from operations of INR136.5 crores in H1 FY26.