Acutaas Chemicals makes advanced pharmaceutical intermediates, runs CDMO services, and produces specialty chemicals including battery electrolyte additives and semiconductor chemicals. This quarter's print will speak to whether EBITDA margins can hold near the FY26 anchor of 35.9% amid Gulf-linked freight and input-cost pressure, and whether the Phase 2 electrolyte additives capex completes by end-Q2 FY27 as guided.
| Results date | October 27, 2026 |
|---|---|
| Quarter | Q2 FY 2026-2027 |
| Previous quarter revenue | Rs. 3,297 Mn |
| Previous quarter PAT | Rs. 750 Mn |
| Previous quarter EBITDA margin | 34.3% |
| Market cap | Rs. 26,324.02 Cr |
| CMP | Rs. 3,215.3 |
The Board and Audit Committee will meet on October 27, 2026 to approve the Q2/H1 FY27 (September 30, 2026) results. The trading window remained closed from October 1 until 48 hours after the results, reopening October 30.
The earnings call is scheduled for October 27, 2026 at 4:00 PM IST, organised by Equirus Securities. Speakers are Naresh Patel (CMD), Bhavin Shah (CFO) and Abhishek Patel (President-Strategy).
The central question for this quarter is the margin bridge: management has guided FY27 EBITDA margins similar to FY26's 35.9%, but Q1 FY27 printed 34.3% with other income down to Rs. 18 Mn from Rs. 159 Mn a year ago, and Q4 FY26's ~36% exit margin was explicitly called ambitious. Cost pressure is live — oil touched $100/bbl on July 23 on Middle East shipping disruptions, cost of materials rose to 50.28% of revenue in Q1 (up ~8pp QoQ), and Hormuz transits were still in single digits as of September 24 — while the rupee's slide to nearly 96.75/USD is a translation tailwind for the export-led book and a possible rebound in forex-driven other income. On growth, the YoY base is soft (Q2 FY26 revenue Rs. 3,062 Mn) and management remains 'still very much confident' of 25% FY27 revenue growth, with Q1 seasonally the weakest quarter and a sequential build through Q4 implied by its own framing. The battery-chemicals ramp is the quarter's testable item: Phase 2 electrolyte-additive capex is guided complete by end of Q2 FY27 with commercial revenue recognition already started, while the four validated CDMO products (Rs. 50-100 crores peak annual revenue each) only commence revenue from H2 FY27. The upcoming call is likely to cover H1 pacing against the 25% growth path, the Phase 2 commissioning update, and first ECMS incentive recognitions on the Rs. 119.12 Crore eligible investment.
Performance vs guidance tracking: Key markers management has on the table going into the October 27 call:
Electrolyte additives ramp and battery chemicals
Margin bridge and other income trajectory
Electronics and semiconductor chemicals expansion: Three post-Q1 developments may shift the strategic narrative:
Risks and governance items to monitor
Yes — on the Q1 FY27 call, management said it is 'still very much confident to deliver 25% growth rate for the revenue' and to achieve margins similar to the last financial year. This was in response to an analyst question on whether the Middle East crisis and raw material supply concerns temper the growth trajectory.
Revenue from the four validated CDMO products is expected from H2 FY27 onwards, supported by offtake contracts and long-term supply agreements. Each product carries a peak annual revenue potential of Rs. 50-100 crores, with the major ramp-up guided for FY28.
Yes — the Q1 FY27 concall recorded that commercial revenue recognition from the electrolyte additive capacity has already started, with validation batches completed. No commercial revenue had been recognised for this segment in FY26 as of March 31, 2026.
Management has guided FY27 EBITDA margins similar to FY26's 35.9%, while clarifying that Q4 FY26's ~36% exit margin levels were 'ambitious'. Q1 FY27 printed 34.3%, below the full-year anchor, making the margin bridge a key item on this call.
Q1 FY27 revenue of Rs. 3,297 Mn grew 59.1% YoY, though it declined 23.8% QoQ against the strongest quarter in company history (Q4 FY26: Rs. 4,328 Mn, 42.4% EBITDA margin). Management attributes growth to strong CDMO momentum and robust core Advanced Intermediates growth.