Privi speciality chemicals posts record H1 FY26, outlines growth strategy

Privi Speciality Chemicals Limited reported record-breaking financial results for Q2 and H1 FY26. For Q2 FY26, total income reached INR 678.82 crores, a 26% year-on-year growth. EBITDA for the quarter soared by 59% to INR 182.14 crores, with margins of 26.83%, and profit after tax was INR 90.21 crores. For H1 FY26, total income was INR 1,246.08 crores, up 24% year-on-year, while EBITDA grew by 53% to INR 323.19 crores, achieving 25.94% margins, and profit after tax increased by 94% to INR 147.76 crores. The company also received INR 5.59 crores in state incentives from the Gujarat government in Q2, with total H1 incentives amounting to INR 9 crores.

The company is progressing with its CAPEX plan, with Phase-1 expansion expected to be completed by end of FY26, increasing production capacity from 48,000 to 54,000 metric tons. This expansion is projected to contribute to growth from January 2026 onwards. Privi is targeting INR 5,000 crores in revenue and INR 1,000 crores in EBITDA over the next three to four years, primarily through internal growth metrics, capacity expansion, and a diverse product basket that includes high-value specialty chemicals. The company anticipates maintaining an EBITDA margin between 24% to 26%, which includes state incentives.

Privi Speciality Chemicals also highlighted an improved net working capital cycle, reduced to 124 days from 136 days in March 2025, and a reduction in overall debt by INR 44 crores, bringing net debt to INR 1,020 crores as of September 2025. The company emphasized its focus on sustainability and backward integration, which provides a competitive advantage in pricing and value addition from byproduct streams.