I G Petrochemicals LimitedQ1 FY27 Results & Financial Update
I G Petrochemicals Limited: Q1 FY27 consolidated results and company financials – revenue ₹617.80 Cr, PAT ₹66.44 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 I G Petrochemicals 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
I G Petrochemicals Limited posted consolidated revenue from operations of INR 617.80 crore for the quarter ended June 30, 2026, accompanied by total consolidated income of INR 624.41 crore. Standalone investor presentations note total revenue reaching INR 625.10 crore inclusive of other income, marking a 30% year-on-year expansion compared to Q1 FY26.
Consolidated profitability rebounded sharply with profit before tax (PBT) registering at INR 90.39 crore, contrasting with a PBT loss of INR 15.59 crore in the corresponding period of the previous year. Standalone operating performance highlighted an EBITDA jump to INR 120.00 crore, translating to an EBITDA margin of 19.2% compared to 2.7% in Q1 FY26.
Consolidated profit after tax (PAT) stood at INR 66.44 crore for Q1 FY27, reversing from a net loss of INR 12.99 crore reported in Q1 FY26. Standalone PAT reached INR 71.00 crore with a net profit margin of 11.4%, supported by improved realisations across core product lines and enhanced operational efficiencies.
Cost structures reflected significant movement in inventory changes, with inventory of finished goods and work-in-progress showing a negative variation of INR 65.14 crore against positive inventory accretion in previous comparative periods, alongside material consumption costs of INR 482.73 crore.
Employee benefits expense for the quarter was INR 30.36 crore, while finance costs stood at INR 10.74 crore on a consolidated basis (INR 9.57 crore standalone). Depreciation and amortization expenses were recorded at INR 17.66 crore on a consolidated level.
Basic and diluted earnings per share (EPS) for the consolidated entity improved to INR 21.57 for the quarter, compared to negative earnings per share of INR 4.22 in Q1 FY26, reflecting the company's operational turnaround.
The company maintained progress across its strategic forward-integration roadmap, with the new plasticizer plant achieving mechanical completion and scheduled for commercial production in Q2 FY27, while the Compressed Biogas (CBG) project remains on track for Q3 FY27.
01 · Business model
What does I G Petrochemicals do?
I G Petrochemicals Limited is India's largest single-site manufacturer of Phthalic Anhydride (PAN), operating five dedicated PAN plants with an installed capacity of 275,110 MTPA at its integrated complex in Taloja, Raigad, Maharashtra. The company commands approximately 50% of the domestic market share for PAN.
Beyond core PAN production, the company operates as India's sole domestic manufacturer of Maleic Anhydride (MAN) derived from wash water, alongside secondary derivatives including Benzoic Acid (BA), Di-Ethyl Phthalate (DEP), and advanced plasticizers.
The manufacturing process is organized around an integrated chemical value chain utilizing Ortho-Xylene as primary feedstock. Operations benefit from on-site steam recovery, shared utilities, and captive green energy initiatives, feeding downstream chemistries serving over 120 clients across 20+ end-user industries such as paints, plasticizers, PVC, UPR, and specialty chemicals.
02 · Historical context
What shaped the business before this quarter
Over three decades of operations since incorporation in 1988, the company built out 275,110 MTPA of installed capacity across five PAN plants at Taloja, securing ~50% domestic market share.
The company previously forayed into the manufacturing of Di-Ethyl Phthalate (DEP) in FY22, successfully extending its value chain from basic Phthalic Anhydride into specialty downstream derivatives.
Earlier operational initiatives reduced greenhouse gas emissions by approximately 70% through systematic steam optimization, heat recovery from exothermic reactions, and captive rooftop solar installations.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹617.80 Cr |
| Total income | ₹624.41 Cr |
| Profit before tax | ₹90.39 Cr |
| Profit after tax | ₹66.44 Cr |
| EPS | ₹21.57 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Standalone revenue expanded 30% YoY to INR 625.1 crore, driven by improved product realizations across Phthalic Anhydride and downstream derivatives.
Revenue from the non-phthallic business reached INR 49 crore during the quarter, supported by stronger realizations in DEP and MAN.
International markets contributed approximately 10% of total revenue during Q1 FY27, reflecting ongoing geographic diversification efforts.
What drove margins
Standalone EBITDA margin surged to 19.2% (INR 120.0 crore) from 2.7% (INR 13.0 crore) in Q1 FY26, driven by higher operational leverage and favorable realisations.
Captive recovery of steam generated during exothermic catalytic oxidation processes reduced overall energy consumption per tonne of output.
05 · Demand, customers & order book
Where demand is coming from
Supplies over 20 end-user industries—including paints, plasticizers, PVC, UPR, and specialty chemicals—backed by annual supply contracts.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates entirely in the manufacture and sale of organic chemicals, representing a single reportable business segment under Ind AS 108.
Geography and market mix
Maintains domestic leadership with ~50% PAN market share across 120+ clients, complemented by export channels generating ~10% of quarterly revenue.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Operates 5 PAN plants, 4 MAN plants, 1 Benzoic Acid plant, 1 DEP plant, and 1 Plasticizer plant at Taloja, Maharashtra, leveraging shared utilities and logistics.
Projects, capex and execution
Achieved mechanical completion of the downstream plasticizer plant in March 2026, with commercial production expected to commence in Q2 FY27.
Organic waste-to-biogas CBG project execution remains on schedule, targeting mechanical completion in Q3 FY27.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Focusing on downstream value addition from Ortho-Xylene through PAN, MAN, BA, DEP, and advance plasticizers to reduce single-product dependence.
09 · Reported developments
What changed operationally
Consolidated PAT turned positive to INR 66.44 crore in Q1 FY27 from a net loss of INR 12.99 crore in Q1 FY26.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital expenditure has been funded largely from internal accruals, maintaining a healthy debt-to-equity profile.
Capital allocation & funding
Consolidated finance cost for the quarter was reported at INR 10.74 crore (Standalone: INR 9.57 crore).
11 · Management guidance & targets
What management is targeting from here
Management stated in investor presentations that the plasticizer plant is expected to start production in Q2 FY27 and the CBG project in Q3 FY27.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Subsidiary Liquidation
The company initiated the process of liquidation of subsidiary IGPL Energy Limited during the previous financial year.
13 · Previous-quarter changes
What changed since the previous quarter
Total consolidated income moved from INR 52.92 crore in Q4 FY26 to INR 624.41 crore in Q1 FY27.
14 · Key Q&A
The quarter, answered directly
What does I G Petrochemicals do?
I G Petrochemicals Limited is India's largest single-site manufacturer of Phthalic Anhydride (PAN), operating five dedicated PAN plants with an installed capacity of 275,110 MTPA at its integrated complex in Taloja, Raigad, Maharashtra. The company commands approximately 50% of the domestic market share for PAN.
What is the clearest takeaway from Q1 FY27?
I G Petrochemicals Limited posted consolidated revenue from operations of INR 617.80 crore for the quarter ended June 30, 2026, accompanied by total consolidated income of INR 624.41 crore. Standalone investor presentations note total revenue reaching INR 625.10 crore inclusive of other income, marking a 30% year-on-year expansion compared to Q1 FY26.
What drove revenue or demand?
Standalone revenue expanded 30% YoY to INR 625.1 crore, driven by improved product realizations across Phthalic Anhydride and downstream derivatives.
What mattered most for margins or profitability?
Standalone EBITDA margin surged to 19.2% (INR 120.0 crore) from 2.7% (INR 13.0 crore) in Q1 FY26, driven by higher operational leverage and favorable realisations.
What changed operationally beyond the headline numbers?
Operates 5 PAN plants, 4 MAN plants, 1 Benzoic Acid plant, 1 DEP plant, and 1 Plasticizer plant at Taloja, Maharashtra, leveraging shared utilities and logistics.
What is management guiding or targeting from here?
Management stated in investor presentations that the plasticizer plant is expected to start production in Q2 FY27 and the CBG project in Q3 FY27.
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
Plasticizer Plant Commercialization: Track the commencement of commercial production at the new plasticizer plant during Q2 FY27.
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