IG Petrochemicals reports Q2, H1 FY26 financials amid soft demand

IG Petrochemicals Limited reported total revenue of Rs 471.6 Crs for Q2 FY26 and Rs 952.5 Crs for H1 FY26 on a standalone basis. EBITDA for Q2 FY26 stood at Rs 27.3 Crs with an EBITDA margin of 5.8%, decreasing from Rs 68.8 Crs and 11.7% in Q2 FY25. Profit After Tax (PAT) for Q2 FY26 was Rs 1.4 Crs, down from Rs 28.3 Crs in Q2 FY25, resulting in an EPS of Rs 0.46. The company noted that demand for Phthalic Anhydride (PAN) in the domestic market remained soft due to low-capacity utilization in downstream industries.

For the first half of FY26, PAT was Rs -6.8 Crs, a decrease from Rs 63.7 Crs in H1 FY25. The current quarter's profit was impacted by an MTM loss of Rs 3 Crs from rupee depreciation and a fixed asset write-off of Rs 5 Crs. Revenue contribution from non-Phthalic business was Rs 74 Crs for H1 FY26, representing approximately 8% of total revenue, while the export market contributed about 7%.

The board of directors has approved the acquisition of I G Biofuels Ltd., making it a wholly-owned subsidiary, and further authorized an investment of up to Rs 100 Crs in biofuels and a compressed biogas project. The company’s plasticizer plant is anticipated to commence by March 2026. IG Petrochemicals also prepaid a term loan of Rs 40 Crs during the period.