Earnings call transcript for Q1 FY27 Financial Results

Ref: MOL/2026-27/42 August 04, 2026 To, To, National Stock Exchange of India Limited BSE Limited “Exchange Plaza”, Bandra-Kurla Complex, Floor- 25, P J Tower, Bandra (East) Dalal Street, Mumbai 400 051 Mumbai 400 001 SYMBOL:- MOL Scrip Code:- 543331 Dear Sir, Sub: Transcript of Earnings Conference call held on July 30, 2026 to discuss Q1 FY27 Financial Results. Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith transcript of Earnings Conference Call held on July 30, 2026 to discuss Q1 FY27 Financial Results. The said transcript is also available at www.meghmani.com in the investor section. You are requested to kindly take the same on your record. Thanking you, Yours faithfully, For Meghmani Organics Limited Ankit Natwarlal Patel Chairman & Managing Director DIN No: 02180007 Encl: As above “Meghmani Organics Limited Q1 FY27 Earnings Conference Call” July 30, 2026 MANAGEMENT: MR. ANKIT PATEL – CHAIRMAN AND MANAGING DIRECTOR – MEGHMANI ORGANICS LIMITED MR. G S CHAHAL – CHIEF FINANCIAL OFFICER – MEGHMANI ORGANICS LIMITED MR. NISHANT VYAS – INVESTOR RELATIONS – MEGHMANI ORGANICS LIMITED MODERATOR: MS. RASHMI GOHIL – ARIHANT CAPITAL MARKETS LIMITED Meghmani Organics Limited July 30, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Meghmani Organics Limited Q1 FY27 Conference Call. 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. Ankit Patel: Thank you. Good evening, everyone, and thank you for joining us on our Q1 FY27 earnings call. I believe you have got a chance to go through the financial results and investor presentation uploaded on the stock exchanges and the website. During the quarter, we operated in a challenging business environment where we saw softer demand across key export markets and domestic market as well. Customers' buying behaviour remained cautious due to continued macroeconomic uncertainties, resulting in a subdued off- take in both the segments. This in turn affected our capacity utilization and overall revenue performance during the quarter. While the demand environment remained soft, we remained focused on optimizing our product mix, executing disciplined pricing strategies, and driving operational efficiencies across our manufacturing facilities. Pursuing this disciplined approach, we were able to achieve and deliver a healthy improvement in profitability. On standalone basis, in Q1 FY27, revenue stood at nearly INR523 crores, which is down by 12% Y-o-Y. Net profit for the quarter grew by 42% Y-o-Y to nearly INR58 crores, and our EBITDA grew by 16% on Y-o-Y basis to INR94 crores approximately. If we talk about the revenue mix in Q1 FY27, Crop Protection segment constituted about 75% of the total revenue, while the balance 25% was from the Pigment segment. Now let us look at the segment-wise performance. In Crop Protection segment, the production stood at about 8,880 metric tons and the capacity utilization for the segment stood at nearly 63%. Revenue and EBITDA stood at INR391 crores and INR77.8 crores respectively. EBITDA margin for the segment was 19.9%. For Pigment segment, production stood at 3,233 metric tons and the capacity utilization for the segment stood at 39%. The segment reported revenue and EBITDA of INR131 crores and INR15.9 crores respectively. EBITDA margin for the segment was nearly 12.1%. Moving to our Crop Nutrition segment, the segment delivered a positive contribution to both revenue and profitability during the quarter. We have further strengthened our product offering with the newly introduced nano fertilizer products like Nano DAP, Nano NPK, and Page 2 of 16 Meghmani Organics Limited July 30, 2026 Nano Zinc. These products complement our existing product portfolio and position us well to participate in the growing adoption of next-generation crop nutrition solutions. We remain optimistic about the long-term growth prospect of this business and expect the positive momentum to continue over the coming quarters. In titanium dioxide, as communicated earlier, operation remained suspended due to commercial unviability arising from the elevated raw material cost and the weaker price realization following the withdrawal of anti-dumping duty. As we have described earlier, one of the key raw materials, which is sulfuric acid, which is based on the sulfur, because of the macroeconomic factors, the prices of the raw material has increased tremendously, which is impacting the overall cost of the product and making it unviable. Because of this factor, for the time being, the operation remains suspended. If we look at our financial performance on consolidated basis in Q1 FY27, revenue stood at nearly INR542 crores, which is down by about 12%, and the net profit grew by 280% on year- on-year basis to INR48.2 crores, and our EBITDA grew by 46% on Y-o-Y basis to nearly INR97.9 crores. EBITDA margin on consolidated basis stood at 18% as compared to 10.9% in the corresponding quarter previous year. As of 30th June 2026, on a standalone basis, our total debt stands at about INR555 crores, comprising of INR474 crores in short-term debt and INR81 crores in the long-term debt. Debt-to-equity ratio on the standalone basis stood at nearly 0.31. On consolidated basis, our total debt stands at INR732 crores, which includes INR477 crores in the short-term debt and INR256 crores in the long-term debt. Debt-to-equity ratio on consolidated basis stood at 0.46. In Q1 FY27, we have made a debt repayment of approximately INR32 crores. So, to conclude, despite of subdued demand environment during the quarter, our focus on optimizing the product mix, disciplined pricing strategy, and continued efforts to enhance operational efficiencies enabled us to deliver a healthy improvement in profitability. While near-term demand may continue to be influenced by the macroeconomic uncertainties, we remain confident in our long-term growth prospect given our state-of-the-art infrastructure, plant compatibility, diversified product portfolio, and a strong geographic presence. Page 3 of 16 Meghmani Organics Limited July 30, 2026 With this, I hand over the call to the moderator to open the floor for questions and answers. Thank you. Moderator: Thank you very much. We will now begin the question-and-answer session. The first question is from the line of Rohit Sinha from Sunidhi Securities. Please go ahead. Rohit Sinha: Yes, good evening, sir. Thank you for taking my question, and congratulations for good set of numbers. So, some of the questions from the Pigment side basically. Although we have seen good improvement in the profitability of Pigment side, but the utilization remains quite low. So how, as you have indicated on the PPT that it's because of the softer demand, so how we are seeing the demand right now, and would there be any possibility that we will see better utilization level in this, or it will remain more or less under 45%-50% kind of level? Ankit Patel: Thank you, Rohit ji. So, for the particularly in the Pigment segment, the utilization level might be in the more or less this range in terms of the percentage. From the overall revenue perspective, we whatever we believe we believe that we will be somewhere in the range of INR550 to INR600 crores on annualized basis in the Pigment segment. But that will be compared to previous years, we have been working on various things to improve our operational efficiencies, which we were doing since last one year, and lot of improvements has taken place and which is helping in terms of better operational cost reduction and which is helping to improve overall profitability in the Pigment segment. Rohit Sinha: Okay [Showing first 8,000 characters — download PDF for full document]