Gujarat Fluorochemicals (FLUOROCHEM) Q2 2026 earnings summary

Executive summary

• Delivered resilient Q2 FY26 performance with consolidated revenue of ₹1,210 crore, up 2% YoY, and strong growth in key financial metrics despite global challenges.

• EBITDA for Q2 FY26 was ₹364 crore, up 23% YoY, with margins rising to 30% consolidated and 32% for the chemical segment.

• PAT for Q2 FY26 reached ₹179 crore, up 49% YoY, with EPS at ₹16.31.

• Positioned as a global leader in battery materials, leveraging established capacities and early customer approvals to drive future growth.

• Continued focus on operational excellence, green chemistry, and expansion in EV battery chemicals.

Financial highlights

• Chemical segment revenue reached ₹1,210 crore, up 2% YoY, with EBITDA of ₹381 crore and PAT of ₹198 crore.

• Gross margin improved from 67% to 72%, driven by higher-value product mix and cost controls.

• Net profit margin for Q2 FY26 was 15.21%, and operating margin was 23.17%.

• Bulk chemicals revenue increased 3% YoY and 7% QoQ to ₹158 crore, driven by higher prices and volumes.

• Net worth as of 30 September 2025 was ₹7,662 crore.

Outlook and guidance

• Battery materials business to begin revenue contribution from Q4 FY26, with significant scale-up anticipated in FY28.

• CapEx for battery business projected at ₹1,200 crore in FY26 and around ₹1,500 crore in FY27, with a total plan of ₹6,000 crore over 4-5 years.

• EBIT break-even for battery chemicals expected in FY27.

• LiPF6 sales to commence soon, with prices rising from $10/kg to $17/kg, boosting outlook.

• R32 ramp-up and LFP CAM facility commissioning to contribute to future growth.