Domestic Earnings And Execution – 17 Aug 2026

Growth, but Mind the Margin

Anupam Rasayan's Q1 revenue rises 36%, but PAT advances only 6%

UFlex nearly doubles Q1 EBITDA as sales volume rises only 1.7%, with Rs 82.5 crore of forex gain inside the bridge

Ishan Dyes more than doubles Q1 revenue, but PAT halves while a Rs 2.85 crore inventory overstatement remains uncorrected

Amines & Plasticizers lifts Q1 PAT 27% YoY, but earnings fall 38% from the March quarter

Avro's Q1 consolidated revenue rises 17%, but PAT falls 34% as Rs 12.62 crore of plant assets move to recycling arm

Dutron's Q1 PAT rises 43% YoY, but retreats 19% from March despite steady income

Shankar Lal Rampal Dye-Chem more than doubles Q1 PAT on 11% revenue growth, while sales slip from March

Expansion Ahead, Economics Pending

Anupam Rasayan cites a US$300 million Basquevolt opportunity, but the ten-year supply remains an LOI

Chemplast begins R-32 output from its swing plant, but full 14,000-tonne capacity waits until Q4 FY27

Chemplast commercialises 14 CMCD molecules and builds a 50-molecule pipeline, but utilisation and ROCE remain unquantified

Recovery and Accounting Crosscurrents

DCM Shriram Fine Chemicals returns to profit sequentially, but Q1 PAT remains 40% below last year

Jindal Poly Films earns Rs 148.71 crore before exceptional items, but a fresh Rs 223.50 crore subsidiary-loan provision drives a Rs 94.97 crore loss

Eastern Treads cuts Q1 costs 15%, but its loss widens as revenue falls 16%

Earnings Under Pressure

Daikaffil's Q1 revenue collapses 73% and last year's profit turns into a Rs 63 lakh loss

Polychem consolidated PAT falls 85% as Q1 income drops 18%, while standalone profit shrinks to Rs 1 lakh

Vamshi Rubber slips to a Rs 74 lakh Q1 loss as income falls 32%

Responsive revenue falls 43%, but costs fall only 34%, crushing Q1 PAT by 95%

KG Petrochem revenue falls 11%, but Q1 PAT drops 77% as technical-textile margins contract