37th Annual Report of FY 2025-26

FY26 results (audited): Standalone: Revenue 24.4bn +44% y-y (17.0bn) EBITDA 1.2bn +83% y-y (0.65bn) EBITDA margin 4.9% (3.8%) +110 bps y-y PAT 3.3bn +117% y-y (1.5bn) Dividend: No dividend recommended for FY26 Commentary: The company reported strong revenue and profit growth in FY26 driven by higher sales and operational efficiencies. Finance costs and depreciation increased due to higher borrowings and capital expenditure. A fire incident at one manufacturing facility in May 2026 caused limited disruption. The company allotted convertible warrants to promoters post year-end. Related party transactions were approved for up to Rs 150 crore and Rs 250 crore annually with Icon Polymers and Icon Plastics respectively. The company continues to focus on surfactants and polymer products with growth opportunities in specialty segments and expanding market presence.