Kiri Industries reports Q2/H1-FY26 results amid strategic expansion, DyStar litigation

Kiri Industries Limited (KIL) reported Q2-FY26 consolidated operational revenue at INR 2,134 million, a 23.4% year-over-year increase, with a net loss of INR 795 million and an EBITDA margin of (6.37)%. For H1-FY26, consolidated operational revenue reached INR 4,156 million, up 16.6% year-over-year, with a net loss of INR 1,309 million and an EBITDA margin of (7.19)%. The company noted that EBITDA remains impacted by litigation expenses related to DyStar.

KIL is strategically expanding into copper smelting and fertilizer through its subsidiary Indo Asia Copper Ltd. The estimated project cost is ~INR 10,661 crore, with INR 1,036 crore equity already infused. Construction commenced on October 1, 2025, with a 36-month completion timeline. The company also provided an update on the DyStar court case in Singapore, stating that the purchaser failed to fulfill conditions precedent by October 2, 2025, and an extended long-stop date of December 1, 2025, requires an additional $5,112,156 deposit into escrow.