Indo Borax & Chemicals LimitedQ1 FY27 Results & Financial Update
Indo Borax & Chemicals Limited: Q1 FY27 consolidated results and company financials – revenue ₹70.36 Cr, PAT ₹16.25 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Indo Borax & Chemicals Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During the first quarter of fiscal 2027 ended June 30, 2026, Indo Borax & Chemicals Limited reported a consolidated net profit (PAT) of Rs 16.25 crore, supported by robust end-market demand and high plant capacity utilisation.
Total consolidated income for Q1 FY27 reached Rs 72.91 crore, underpinned by revenue from operations of Rs 70.36 crore and other income of Rs 2.56 crore.
Profitability expansion outpaced revenue growth during the quarter, driven by enhanced operational efficiencies and favorable product realisations that expanded operating margins.
The board of directors approved the scheme of amalgamation of its wholly owned subsidiary, Indoborax Infrastructure Private Limited, with the parent entity, subject to necessary regulatory and NCLT approvals.
Management noted that robust domestic demand across core customer industries such as glass, ceramics, and steel enabled the company to sustain high operating leverage during the period under review.
Profit after tax was ₹16.25 Cr for the reported quarter. EPS was ₹5.07 for the reported quarter.
01 · Business model
What does Indo Borax & Chemicals do?
Indo Borax & Chemicals Limited, established in 1980, operates as a leading Indian manufacturer of specialty boron-based chemicals, holding a key benchmark position in Boric Acid production.
The company operates modern manufacturing facilities in Pithampur, Madhya Pradesh, producing essential chemical derivatives including Boric Acid, Disodium Octaborate Tetrahydrate (D.O.T.), and Borax.
Indo Borax holds unique regulatory credentials as the sole Indian manufacturer possessing a Food and Drug Administration (FDA) license for Pharma Grade Boric Acid as per the Indian Pharmacopoeia, alongside being the pioneer BIS license holder for Technical Grade Boric Acid.
Its manufactured chemical products serve diverse industrial end-markets spanning steel, glass, ceramics, agriculture, electronics, and detergents.
02 · Historical context
What shaped the business before this quarter
Established in 1980, the company has grown over decades to become a leading domestic player and industry benchmark in boron-based chemical manufacturing.
Previously secured the first BIS license in India for Technical Grade Boric Acid and remains the only domestic entity holding an FDA license for Pharma Grade Boric Acid under the Indian Pharmacopoeia.
Previously incorporated Indoborax Infrastructure Private Limited as a wholly owned subsidiary, which the board voted to amalgamate into the parent entity in July 2026.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹70.36 Cr |
| Total income | ₹72.91 Cr |
| Profit before tax | ₹22.00 Cr |
| Profit after tax | ₹16.25 Cr |
| EPS | ₹5.07 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 23.1% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 31.3% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹2.56 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Sales were supported by steady offtake across multiple industrial sectors, including steel, glass, ceramics, agriculture, electronics, and detergent manufacturing.
Continued strong market acceptance of primary product lines such as Boric Acid and Disodium Octaborate Tetrahydrate (D.O.T.) drove operational revenue.
What drove margins
High capacity utilisation at the Pithampur manufacturing facility distributed fixed overheads more efficiently across higher production volumes.
Disciplined cost of materials consumed (Rs 35.18 crore) and employee benefit expenses (Rs 5.12 crore) helped preserve operating profitability.
05 · Demand, customers & order book
Where demand is coming from
Serves a fragmented industrial clientele across domestic manufacturing hubs with specialized chemical grades.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates in a single primary business segment: 'Manufacturing and selling of Chemicals', as governed by Ind AS 108.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Management noted that the advanced Boric Acid and D.O.T. manufacturing facility in Pithampur, Madhya Pradesh, operated at extremely robust capacity utilisation levels during the quarter.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The Board of Directors approved the amalgamation of wholly owned subsidiary Indoborax Infrastructure Private Limited with Indo Borax Chemicals on July 21, 2026, aimed at pooling resources, streamlining governance, and enhancing decision-making efficiency.
09 · Reported developments
What changed operationally
Reported strong absolute PAT of Rs 16.25 crore for Q1 FY27, underpinned by favorable operating efficiencies.
Initiated steps to absorb its infrastructure subsidiary to simplify corporate structure and reduce administrative overheads.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Maintained low finance costs of Rs 0.05 crore for the quarter, reflecting a conservative debt profile.
11 · Management guidance & targets
What management is targeting from here
Managing Director & CEO Suresh Katra stated that the company expects to sustain its growth momentum moving forward, backed by robust demand and advanced manufacturing capabilities.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Shareholder Base and Recognition
Backed by over 28,000 shareholders, Indo Borax was previously featured in Forbes Asia Pacific's Top 200 Under A Billion Dollar Public Companies (2023) and recognized by The Economic Times for value-driven growth.
13 · Previous-quarter changes
What changed since the previous quarter
Operating revenue moved from Rs 63.01 crore in Q4 FY26 to Rs 70.36 crore in Q1 FY27, while PAT advanced from Rs 14.53 crore to Rs 16.25 crore.
14 · Key Q&A
The quarter, answered directly
What does Indo Borax & Chemicals do?
Indo Borax & Chemicals Limited, established in 1980, operates as a leading Indian manufacturer of specialty boron-based chemicals, holding a key benchmark position in Boric Acid production.
What is the clearest takeaway from Q1 FY27?
During the first quarter of fiscal 2027 ended June 30, 2026, Indo Borax & Chemicals Limited reported a consolidated net profit (PAT) of Rs 16.25 crore, supported by robust end-market demand and high plant capacity utilisation.
What drove revenue or demand?
Sales were supported by steady offtake across multiple industrial sectors, including steel, glass, ceramics, agriculture, electronics, and detergent manufacturing.
What mattered most for margins or profitability?
High capacity utilisation at the Pithampur manufacturing facility distributed fixed overheads more efficiently across higher production volumes.
What changed operationally beyond the headline numbers?
Management noted that the advanced Boric Acid and D.O.T. manufacturing facility in Pithampur, Madhya Pradesh, operated at extremely robust capacity utilisation levels during the quarter.
What is management guiding or targeting from here?
Managing Director & CEO Suresh Katra stated that the company expects to sustain its growth momentum moving forward, backed by robust demand and advanced manufacturing capabilities.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
NCLT Amalgamation Proceedings: Track regulatory progress and NCLT approval milestones regarding the proposed amalgamation of Indoborax Infrastructure Private Limited.
- 02
Postal Ballot Approval: Monitor shareholder voting outcomes through the draft Postal Ballot Notice initiated by the board.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.