Chemfab Alkalis LimitedQ2 FY27 Results & Financial Update

Chemfab Alkalis Limited: Q2 FY27 consolidated results and company financials – revenue ₹75.61 Cr, PAT ₹-2.11 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.

NSE: CHEMFABPublished 28 Oct 2026Updated 28 Oct 2026~6 min read
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Revenue from operations₹75.61 CrReported Q2 FY27
Profit after tax₹-2.11 CrReported Q2 FY27
Sequential change+3.4%Quarter-on-quarter

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Quarterly Results AnalysisExplore Chemfab Alkalis Q2 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

01

Chemfab Alkalis Limited reported consolidated revenue from operations of INR 75.61 crore for the second quarter ended September 30, 2026, marking a sequential increase from INR 73.16 crore recorded in the preceding quarter ended June 30, 2026. Total income for the quarter stood at INR 75.99 crore compared to INR 75.24 crore sequentially.

02

The company recorded a consolidated loss before tax (PBT) of INR 2.95 crore for Q2 FY27, shifting downwards from a profit before tax of INR 2.22 crore in the previous quarter. Consolidated net loss after tax (PAT) widened to INR 2.11 crore during the quarter, compared to a net profit after tax of INR 5.73 crore in Q1 FY27. Basic and diluted earnings per share (EPS) for the quarter stood at INR -1.47, compared to INR 3.99 in the preceding quarter.

03

On the expenditure front, total expenses for the quarter were INR 78.93 crore, driven by material costs, power and fuel expenses, employee benefits, and depreciation charges. Direct manufacturing expenses including power and fuel remained a significant cost component for the chemical operations.

04

The chemicals and related products segment generated revenue of INR 69.22 crore with a segment result before tax of INR 2.32 crore, whereas the PVC-O pipes segment contributed INR 6.39 crore in revenue but registered a segment loss before tax of INR 3.17 crore.

05

During the half year ended September 30, 2026, the company invested INR 14.91 crore towards sourcing power from a hybrid power plant as per power purchase agreement terms. Furthermore, the parent company exercised the option of a lower tax rate under Section 200 of the Income Tax Act 2025 (erstwhile Section 115BAA of the Income Tax Act 1961), resulting in a re-measurement of deferred tax liabilities and an accounting tax credit.

06

Mr. V. R. Raguraman was appointed as Chief Operating Officer (Senior Management Personnel) with immediate effect from October 28, 2026, bringing over four decades of chemical manufacturing experience. Additionally, board committee designations were restructured with Mr. Satish Narain Jajoo taking over as Chairperson of the Stakeholders Relationship Committee.

01 · Business model

What does Chemfab Alkalis do?

Chemfab Alkalis Limited operates primarily in the manufacturing of chemicals and related products alongside PVC-O pipes through its operating facilities and subsidiaries. The company serves industrial and commercial customers requiring inorganic chemicals and specialized piping solutions. Its economic model centers on large-scale chemical manufacturing, power-intensive production processes, and infrastructural piping supply.

02 · Historical context

What shaped the business before this quarter

Inception and Growth

Chemfab Alkalis has historically evolved its manufacturing footprint across Puducherry and Andhra Pradesh, building foundational expertise in chlor-alkali and related downstream chemical derivatives.

Segment Diversification

The company expanded its operational scope into infrastructural piping through subsidiaries, introducing PVC-O pipes as a secondary operating segment alongside its core chemical business.

03 · Financial snapshot

Current quarter vs the available comparable

MetricQ2 FY27Previous quarter
Revenue from operations₹75.61 Cr₹73.16 Cr
Total income₹75.99 Cr₹75.24 Cr
Profit before tax₹-2.95 Cr₹2.22 Cr
Profit after tax₹-2.11 Cr₹5.73 Cr
EPS₹-1.47₹3.99

Financial interpretation

What the reported numbers mean

Profit conversion

Profit after tax represented -2.8% 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.

Pre-tax earnings

Profit before tax was equivalent to -3.9% 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.

Operating revenue versus total income

Total income exceeded operating revenue by ₹0.37 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

Segment Contribution

Chemicals and related products contributed INR 69.22 crore to segment revenue, while PVC-O pipes added INR 6.39 crore during the quarter.

Sequential Topline Movement

Total revenue from operations increased to INR 75.61 crore from INR 73.16 crore in the June 2026 quarter, reflecting moderate top-line volume recovery.

What drove margins

Power and Fuel Costs

Direct manufacturing expenses, predominantly comprising power and fuel, amounted to INR 25.63 crore for the quarter, exerting a continuous pressure on manufacturing margins.

Segment Profitability Divergence

While the chemicals segment delivered a positive pre-tax result of INR 2.32 crore, the PVC-O pipes segment recorded a pre-tax loss of INR 3.17 crore, pulling down overall profitability.

05 · Segments, products & geography

Which parts of the business are doing the work

Segments and products

Chemicals and Related Products

Generated revenue of INR 69.22 crore and a segment result before tax of INR 2.32 crore for Q2 FY27.

PVC-O Pipes

Generated revenue of INR 6.39 crore with a segment loss before tax of INR 3.17 crore during the quarter.

06 · Capacity, projects & execution

What is being built, commissioned or delivered

Projects, capex and execution

Hybrid Power Plant Investment

The company invested INR 14.91 crore during the half year ended September 30, 2026, towards sourcing power from a hybrid power plant under a power purchase agreement.

07 · Reported developments

What changed operationally

Senior Management Appointment

Appointed Mr. V. R. Raguraman as Chief Operating Officer, leveraging over 40 years of chemical manufacturing and operational leadership experience.

Tax Rate Transition Benefit

The parent company adopted the lower tax rate under Section 200 of the Income Tax Act 2025, resulting in a favorable re-measurement of deferred tax liabilities.

08 · Pressure points & risks

What is not going smoothly

PVC-O Pipes Segment Losses

The PVC-O pipes segment continued to face profitability headwinds, reporting a pre-tax loss of INR 3.17 crore for the quarter.

Bottom-Line Contraction

The company posted a consolidated net loss after tax of INR 2.11 crore for Q2 FY27, reversing from the net profit recorded in the preceding quarter.

09 · Items worth noticing

The line items that can distort a quick read

Deferred Tax Credit

Accounted tax credit of INR 3.80 crore (INR 380.27 lakhs) relating to the re-measurement of opening deferred tax liabilities following the adoption of the lower tax rate under Section 200 of the Income Tax Act 2025.

10 · Beyond the numbers

What changed beyond the numbers

Reported update

Board Committee Restructuring

Mr. Satish Narain Jajoo was re-designated as Chairperson of the Stakeholders Relationship Committee, replacing Mrs. Drushti Desai who continues as a member.

11 · Previous-quarter changes

What changed since the previous quarter

Sequential Revenue Increase

Consolidated revenue from operations rose by approximately 3.36% from INR 73.16 crore in Q1 FY27 to INR 75.61 crore in Q2 FY27.

Profitability Reversal

Net result shifted from a net profit of INR 5.73 crore in Q1 FY27 to a net loss of INR 2.11 crore in Q2 FY27.

12 · Key Q&A

The quarter, answered directly

What does Chemfab Alkalis do?

Chemfab Alkalis Limited operates primarily in the manufacturing of chemicals and related products alongside PVC-O pipes through its operating facilities and subsidiaries. The company serves industrial and commercial customers requiring inorganic chemicals and specialized piping solutions. Its economic model centers on large-scale chemical manufacturing, power-intensive production processes, and infrastructural piping supply.

What is the clearest takeaway from Q2 FY27?

Chemfab Alkalis Limited reported consolidated revenue from operations of INR 75.61 crore for the second quarter ended September 30, 2026, marking a sequential increase from INR 73.16 crore recorded in the preceding quarter ended June 30, 2026. Total income for the quarter stood at INR 75.99 crore compared to INR 75.24 crore sequentially.

What drove revenue or demand?

Chemicals and related products contributed INR 69.22 crore to segment revenue, while PVC-O pipes added INR 6.39 crore during the quarter.

What mattered most for margins or profitability?

Direct manufacturing expenses, predominantly comprising power and fuel, amounted to INR 25.63 crore for the quarter, exerting a continuous pressure on manufacturing margins.

What changed operationally beyond the headline numbers?

The company invested INR 14.91 crore during the half year ended September 30, 2026, towards sourcing power from a hybrid power plant under a power purchase agreement.

What are the main pressure points disclosed for the quarter?

The PVC-O pipes segment continued to face profitability headwinds, reporting a pre-tax loss of INR 3.17 crore for the quarter.

13 · Scenario calculator

Earnings sensitivity: what if growth and margins change?

Starting point

Build your own next-quarter scenario

Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.

Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.

Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%

The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.

14 · Next filing checkpoints

What the next disclosure can confirm or change

  1. 01

    Segment Turnaround: Monitor the operational performance and margin recovery trajectory of the PVC-O pipes segment.

  2. 02

    Power Cost Optimization: Track the realization of efficiency gains and power cost savings from the hybrid power plant investment.

Learn the metrics

Need the concepts first?

Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.

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