Acutaas Chemicals Limited (formerly Ami Organics Limited) delivered a landmark FY2026, with consolidated revenue from operations rising 33% year-on-year to ₹13,394 Mn and profit after tax surging 122% to ₹3,564 Mn.

The Gujarat-headquartered specialty chemicals company filed its Annual Report for FY2025-26 on August 29, 2026, ahead of its 19th Annual General Meeting scheduled for September 24, 2026. The results reflect broad-based growth across its pharmaceutical intermediates and emerging specialty chemicals verticals, with EBITDA more than doubling to ₹4,804 Mn and EBITDA margin expanding sharply to 35.9% from 23.0% in FY2025.

Key Financial Highlights

The following table summarises consolidated financial performance across the last three fiscal years.

*Adjusted for exceptional items. RoE and RoCE adjusted for cash and cash equivalents, exceptional items, and CWIP.

The Advanced Pharmaceutical Intermediates segment, the company's largest, grew 37.5% year-on-year to ₹11,741 Mn, driven primarily by the CDMO business. The Specialty Chemicals segment registered growth of 8.0%, achieving revenue of ₹1,652 Mn. Exports contributed approximately 77% of total revenue in FY2026.

Business Segment Performance

Pharmaceutical Intermediates and CDMO

The pharmaceutical intermediates business, which commands 50–90% global market share in key molecules, served 160+ customers across 25+ countries and 17+ therapeutic areas from two manufacturing facilities. During FY2026, four additional CDMO products were successfully validated, adding to the company's anchor innovator contract. The Ankleshwar manufacturing facility received Good Manufacturing Practices (GMP) certification from the Pharmaceutical and Medical Devices Agency, Japan (PMDA), without any critical or major observations.

Battery Chemicals

Phase 1 of the battery chemicals project at Jhagadia, Gujarat, was inaugurated on January 19, 2026, establishing annual production capacity of 2,000 MTPA each for Vinylene Carbonate (VC) and Fluoroethylene Carbonate (FEC). Acutaas is India's first electrolyte additives manufacturer. The entire commercialised capacity is covered by long-term customer contracts for the next three years. FY2027 is expected to be the first year of revenue contribution from this segment.

Semiconductor Chemicals

The semiconductor chemicals business, anchored by Baba Fine Chemicals — India's only manufacturer of photoresist chemicals — generated ₹157 Mn in revenue. During FY2026, approximately ₹2,000 Mn was invested in Indichem Inc., a joint venture with South Korea's J & Materials Co. Ltd., to establish an advanced semiconductor chemicals facility in Gongju, South Korea. The R&D centre at this facility is already operational and supplying samples to prospective customers. The manufacturing facility is under construction and expected to be on stream in H2 CY26.

Capital Allocation and Balance Sheet

Capex deployed in FY2026 stood at ₹1,950 Mn, directed primarily towards the Jhagadia battery chemicals project, a new pilot plant, and routine maintenance. The company's multi-year capex programme spanning FY2023 to FY2030 totals ₹10,000+ Mn across five pillars.

Net cash and cash equivalents stood at ₹1,983 Mn as on March 31, 2026. The debt-equity ratio was 0.02x. Working capital days moved from 114 days to 120 days. RoCE reached a company record of 39.3% in FY2026, up from 19.1% in FY2025.

Dividend and Corporate Actions

The Board of Directors recommended a final dividend of ₹2.50 per equity share of face value ₹5 each (50% of face value) for FY2025-26, subject to shareholder approval at the 19th AGM. The total dividend outgo, if declared, would amount to ₹204.68 Mn. The record date for dividend eligibility is September 17, 2026.

During the year, the company completed its rebranding from Ami Organics Limited to Acutaas Chemicals Limited, effective May 15, 2025. Subsidiary names were also aligned: Baba Advance Materials Limited was renamed Acutaas Advance Material Limited, and Ami Organics Electrolytes Private Limited was renamed Acutaas Chemicals Electrolytes Private Limited.

ESG and Operational Highlights

Acutaas received the EcoVadis Platinum rating in August 2025, placing it in the top 1% of companies assessed globally. The company also received the Responsible Care certification from the Indian Chemical Council and was recognised as a Great Place To Work. Renewable energy capacity installed stands at 16 MW, with solar power meeting 52% of electricity requirements at the Ankleshwar and Jhagadia facilities. Total waste recycled reached 85% through GPCB-approved recyclers, with zero safety-related incidents and zero regulatory incidents reported for FY2026.

The R&D team comprises 130+ professionals including 30+ PhDs, supported by a DSIR-approved centre spanning 2,200 sq. mt. The company holds 29 process patents (10 granted, 9 published, 10 under publication).

Acutaas Chemicals Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year ending March 31, 2026. The filing, dated August 29, 2026, was sent to the listing departments of BSE Limited and the National Stock Exchange of India Limited in compliance with SEBI regulations. The company’s turnover for the period stood at ₹13,237.92 crore, with a net worth of ₹16,683.87 crore.

Governance and Assurance

The report covers the standalone operations of Acutaas Chemicals Limited. The company obtained reasonable assurance for its core KPIs from TÜV SÜD South Asia Pvt. Ltd. This assurance covered critical metrics including greenhouse gas footprint, water and energy footprints, waste management, employee safety statistics, and gender wage gaps. The ESG Committee, chaired by Whole Time Director Ram Mohan Lokhande, met three times during the fiscal year to oversee sustainability strategy and risk management.

Environmental Performance

Acutaas Chemicals reported total energy consumption of 5,31,497.04 GJ for FY26. Renewable sources contributed 61,266.29 GJ to this total, driven by a 15.8 MW solar power project that met approximately 52% of electricity requirements for its Ankleshwar and Jhagadia units.

Water withdrawal increased to 1,39,547 kilolitres from 1,28,710 kilolitres in the previous year. The Sachin manufacturing site operates under a Zero Liquid Discharge model. Total waste generated rose significantly to 17,023.90 metric tonnes compared to 8,020.32 metric tonnes in FY25, with hazardous waste constituting the majority at 16,721.31 metric tonnes.

Social and Employee Metrics

The company employed 940 permanent employees and engaged 773 workers as of March 31, 2026. Exports accounted for 76% of total turnover, serving customers across 55 countries. The firm spent ₹6.59 crore on employee well-being measures, representing 0.48% of total revenue. Safety records showed zero lost-time injuries for employees and workers during the reporting period, an improvement from one fatality among workers in the prior year.

What the Numbers Show

The divergence between rising revenue and increasing energy intensity warrants attention. While revenue grew from ₹9,898.35 crore to ₹13,237.92 crore, total energy consumption jumped by roughly 22% to 5,31,497.04 GJ. This resulted in a higher energy intensity per rupee of turnover (0.0004 GJ/₹) compared to 0.00004 GJ/₹ in the prior year. Similarly, waste generation more than doubled, indicating that operational scale expansion outpaced efficiency gains in resource utilization during the period.