Acutaas Chemicals (ACUTAAS) Q3 25/26 earnings summary

Executive summary

• Achieved strong Q3 FY26 growth driven by ramp-up in CDMO and pharmaceutical intermediates, with revenue nearing INR 400 crore and record-high margins.

• Strategic focus on pharmaceutical intermediates, battery chemicals, and semiconductor chemicals, each expected to become independent growth engines by FY 2028.

• Unaudited standalone and consolidated financial results for Q3 and nine months ended December 31, 2025, were approved and reviewed without modifications by statutory auditors.

• The company operates in custom synthesis and manufacturing of specialty chemicals for pharmaceuticals and other applications.

• Revenue growth guidance for FY26 revised upward to 30% due to a healthy order book and improved visibility.

Financial highlights

• Q3 FY26 consolidated revenue from operations reached INR 393.2 crore (₹3,932 Mn/₹39,318.33 lakhs), up 43% year-over-year.

• Gross profit was INR 224 crore, a 26.1% increase year-over-year, with gross margin expanding to 57%.

• EBITDA for the quarter was INR 150.7 crore (₹1,507 Mn), more than doubling year-over-year; EBITDA margin rose to 38.3%.

• PAT for the quarter crossed INR 100 crore (₹1,062 Mn/₹10,796.05 lakhs), up 133.7% year-over-year; nine-month PAT at INR 222.1 crore (₹2,221 Mn/₹22,449.45 lakhs), more than doubled year-over-year.

• Net cash and cash equivalents stood at INR 129.5 crore as of 31 December 2025.

Outlook and guidance

• Revenue growth guidance for FY26 revised upwards to 30%; EBITDA margin guidance upgraded to 32–35%.

• Each business vertical (pharma intermediates, battery chemicals, semiconductor chemicals) expected to become self-sustaining growth engines by FY 2028.

• CDMO business expected to reach INR 1,000 crore by FY 2028, with four validated products and more in the pipeline.

• Battery chemicals business to ramp up from Q1 FY27, with new products contributing from mid-FY27.

• No material impact from new Indian labour codes on employee benefit expenses for the period.