AVI Polymers Limited reported a massive expansion in profitability for FY26, with net profit surging 24-fold to ₹203.29 crore from ₹8.17 crore in the previous year. The chemical trader scaled operations significantly, logging revenue of ₹3,125.87 crore against a negligible ₹13.83 crore in FY25.

The company’s transition from a dormant state to full-scale trading was funded largely by supplier credit and equity capital. Trade payables exploded to ₹517.51 crore from ₹0.10 crore, while the firm raised ₹899.95 crore through a rights issue. This capital injection increased equity share capital to ₹944.71 crore.

Financial Performance

The surge in top-line growth drove operating profit before finance costs, depreciation, and amortization (PBDAT) to ₹277.36 crore, up from ₹11.02 crore. Despite the volume increase, the company maintained a healthy net profit margin of 6.51%.

Cash flows from operations turned positive at ₹642.39 crore after adjusting for working capital changes. However, trade receivables stood at ₹1,270.89 crore, reflecting the credit terms extended to customers during the rapid scale-up.

Capital Structure and Governance

The Board approved the appointment of three new independent directors: Meenu Jain, Reema Magotra, and Pushpa Joshi. Their appointments were regularized at the AGM scheduled for September 30, 2026. Additionally, Pankaj Dilipbhai Thakkar is seeking reappointment as a director retiring by rotation.

Statutory auditors Kapil Kumar Agarwal & Associates issued an unmodified opinion on the standalone financial statements but flagged a material weakness in internal financial controls. Specifically, documentation for specific policies and IT controls requires strengthening. The secretarial audit also noted delays in XBRL filings and trading window disclosures during the year.

What the Numbers Show

The divergence between revenue growth and receivable accumulation highlights the aggressive credit strategy adopted during the scale-up. While revenue grew nearly 225 times, trade receivables grew proportionally less relative to the new base, yet still represent 40% of total assets. This suggests that while sales volumes have spiked, cash conversion cycles remain a key area to monitor as the business stabilizes.

AVI Polymers Limited approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, during a board meeting held on August 13, 2026. The company has submitted the publication of these results to the Bombay Stock Exchange (BSE) pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The detailed format of the quarterly financial results was filed with the stock exchange under Regulation 33 of the SEBI LODR Regulations, 2015. Investors can access the full format of the unaudited financial results on the BSE website and the company’s official portal.

Regulatory Filings

The submission was signed by Chintan Yashwantbhai Patel, Managing Director of AVI Polymers Limited, on August 17, 2026. The newspaper publication containing the results was dated August 15, 2026.

The registered office of AVI Polymers Limited is located at Shop No. 02, 5th Floor, Roshpa Tower, Main Road, Ranchi, Jharkhand.