Transcript of the Earnings Call held on 6th November, 2026 on Q2 FY27 Financial Results

Date: November 11, 2026 VCL/SE/73/2026-27 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G Dalal Street, Fort Bandra-Kurla Complex, Bandra (East), Mumbai – 400 001 Mumbai 400 051 Scrip Code: 516072 NSE Symbol: VISHNU Through: BSE Listing Centre Through: NEAPS Dear Sir/ Madam, Subject: Transcript of the Earnings Call held on 06th November, 2026 on Q2 FY27 Financial Results Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 enclosed please find transcript of the Earnings Call held on Friday, November 06, 2026, to discuss Financials Results for Q2 FY27. This information will also be available on the website of the Company www.vishnuchemicals.com. This is for your information and record. Thanking You. Yours Faithfully, For Vishnu Chemicals Limited Vibha Shinde Company Secretary & Compliance Officer Encl: As Above “Vishnu Chemicals Limited Q2 FY27 Conference Call” November 06, 2026 MANAGEMENT: MR. SIDDARTHA CHERUKURI – JOINT MANAGING DIRECTOR – VISHNU CHEMICALS LIMITED MR. HANUMANT BHANSALI – VICE PRESIDENT, FINANCE AND STRATEGY– VISHNU CHEMICALS LIMITED MODERATOR: MR. GAGAN DIXIT – EMKAY GLOBAL FINANCIAL SERVICES LIMITED Page 1 of 15 Vishnu Chemicals Limited November 06, 2026 Moderator: Ladies and gentlemen, good day. And welcome to Vishnu Chemicals Limited Q2 FY27 Conference Call hosted by Emkay Global Financial Services Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Mr. Gagan Dixit, Emkay Global Financial Services Limited. Thank you, and over to you, sir. Gagan Dixit: Yes, good afternoon, everyone. I would like to welcome the management and thank them for this opportunity. We have with us today Mr. Siddartha Cherukuri, Joint M.D., and Mr. Hanumant Bhansali, VP Finance and Strategy. I shall now hand over the call to the management for the opening remarks. Over to you, sir. Siddartha Cherukuri: Good afternoon, everyone. And welcome to second quarter earnings conference call FY27. We are pleased to report another quarter of steady performance building on momentum established during the first quarter and reflecting the resilience of our business amid a challenging global operating environment. During the quarter, our consolidated operating revenue grew by approximately 7% Y-o-Y basis to INR430 crores, while EBITDA increased by 10% and profit after tax grew by 8% on a year-on-year basis. First half of FY27, we delivered a revenue growth of over 15%, accompanied by similar growth in profit after tax. Geopolitical situation, particularly in West Asia, continues to impact international shipping and freight market. During the quarter gone by, our shipping and forwarding expense increased to 8.8% of operating revenue compared to 5.9% in the preceding quarter of this financial year. We have been able to sustain our operating margins despite continued pressure from elevated logistics costs and uncertainty in the end-user market. Our ability to serve both domestic and international market also provides us with greater flexibility in responding to changing market dynamics. Coming to our individual chemistries, in our Chrome business, we continue to focus on improving our product mix through a shift towards higher-value-added specialty derivatives. This remains an important part of our long-term strategy, enabling us to strengthen our competitive positioning and improve margin profile in the coming years. We are also pleased to share an important strategic development in our chromium business. During the quarter, we entered into a joint venture agreement with DCX Chrome, France, to establish a manufacturing facility for high-purity chrome metal in Visakhapatnam, with a proposed annual capacity of 6,000 metric tons of chrome metal. This initiative represents a significant step in our strategy of moving further up the value chain and expanding into specialized chrome products. Our Barium business continues to remain an important and stable contributor to our operations, and we continue to achieve solid cash flow generations. We remain focused on Page 2 of 15 Vishnu Chemicals Limited November 06, 2026 strengthening its cost competitiveness through operational efficiencies, and further backward integration. And also looking at other value-added products which can be used in the MLCC and other battery applications in the related chemistry. In Strontium, continue to focus on scaled-up operations, expanding market opportunities, and improving contributions from this business. Strontium carbonate will progressively strengthen our diversified specialty chemical portfolio alongside these initiatives; we remain committed to improving our energy efficiency and reduce our dependency on conventional power sources. We plan to add approximately 20 MW of solar power capacity, which will increase our solar power generation capacity to nearly 6x from current levels. Our diversified product portfolio, balanced geography revenue mix, increased focus on value-added chemistries, and ongoing investments in forward integrations provide us with multiple avenues for future growth. With that, I will now hand over to Mr. Hanumant to take you through our financial performance for quarter in a greater detail. Thank you. Over to you. Hanumant Bhansali: Thank you and good afternoon, everyone. Let me now take you through the consolidated financial highlights of Vishnu Chemicals Limited for Q2 FY27. The company reported steady year-on-year growth in Q2 FY27, supported by higher revenues, improved operating profitability, and growth in domestic sales. On a consolidated basis, the company reported operating revenues of INR429.53 crores in Q2 FY27 compared to INR401.15 crores in Q2 FY26, representing a growth of 7.1% on a Y-o-Y basis. Gross profit for the quarter stood at INR207.79 crores compared to INR172.8 crores in corresponding quarter last year, a growth of 20.3% on a Y-o-Y basis. The consolidated EBITDA stood at INR64 crores in Q2 FY27 compared to INR58.2 crores in Q2 FY26, a growth of 10% on a Y-o-Y basis. EBITDA margin of the company stood at 14.9% in Q2 FY27 compared to 14.5% in the corresponding quarter last year. Profit after tax for the quarter stood at INR35.57 crores compared to INR32.88 crores in the corresponding quarter last year, reflecting a growth of 8.2% on a Y-o-Y basis. The PAT margin of the company in Q2 FY27 stood at 8.3%. On a half-yearly basis, the company reported operating revenues of INR862.3 crores in H1 FY27 compared to INR748.06 crores in H1 FY26, delivering a growth of 15.4% on a Y-o-Y basis. The consolidated EBITDA stood at INR129.49 crores in H1 FY27 compared to INR113.92 crores in H1 FY26, a growth of 13.7% on a Y-o-Y basis. The EBITDA margin of the company in the first half of FY27 stood at 15.00% compared to 15.23% in H1 last year. The profit after tax in H1 FY27 stood at INR75.21 crores compared to INR65.11 crores in H1 FY26, a growth of 15.5% on a Y-o-Y basis. PAT margin of the company in H1 FY27 stood at 8.7%. This is similar to H1 FY26 last year. As of 30th September 2026, the company's consolidated debt-to-equity stood at 0.67x, while Debt-to-EBITDA stood at 2.8x. We are also pleased to highlight the recent upgrade in the Page 3 of 15 Vishnu Chemicals Limited November 06, 2026 company's credit rating, with ICRA assigning an A-Stable rating to our long-term banking facilities compared with earlier A-minus rating by CARE. This represents an important milestone in our financial journey and reinforces our commitment to prudential financial management. The company maintained a well-diversified geographical rev [Showing first 8,000 characters — download PDF for full document]