Privi Speciality Chemicals Limited has released its Integrated Annual Report for FY 2025-26, reporting strong financial performance across key metrics. The company crossed a turnover of over INR 2,500 Crores during the year, advancing towards its 5K:1K vision of achieving INR 5,000 Crores in revenue and INR 1,000 Crores in EBITDA. The Board of Directors has recommended a final dividend of ₹10 per equity share of ₹10 each for FY 2025-26, with the record date fixed as Friday, July 31, 2026, and payment on or before Saturday, September 5, 2026, subject to shareholder approval at the 41st Annual General Meeting (AGM) scheduled for Friday, August 7, 2026.
Financial Performance
FY 2025-26 marked a year of strong financial performance for the company. The following table summarises key financial highlights:
| Metric: |
FY 2025-26 |
FY 2024-25 |
Change |
| Total Income: |
INR 2,582.92 Crores |
INR 2,121.84 Crores |
+21.73% |
| Revenue from Operations (Standalone): |
₹ 2,563.69 Crores |
₹ 2,101.19 Crores |
+22.01% |
| EBITDA: |
INR 665.45 Crores |
INR 474.16 Crores |
+40.35% |
| EBITDA Margin: |
25.76% |
22.35% |
+341 bps |
| Profit After Tax (Standalone): |
INR 327.54 Crores |
INR 187 Crores |
+75.16% |
| Sales Volumes: |
42,389 metric tons |
— |
+6.5% |
| Debt-to-Equity Ratio: |
0.62x |
0.95x |
Improved |
On a consolidated basis, revenue from operations and other income stood at ₹ 2,58,292.10 Lakhs (previous year ₹ 2,12,183.65 Lakhs), with consolidated profit after tax and Other Comprehensive Income of ₹ 31,771.92 Lakhs (previous year ₹ 18,460.73 Lakhs). Diluted EPS on consolidated financial statements was ₹ 81.08 (previous year ₹ 47.30), while standalone diluted EPS was ₹ 91.50 (previous year ₹ 48.46). The company has maintained EBITDA margins above 20% for three consecutive years.
Five-Year Financial Highlights
The company's multi-year financial trajectory reflects consistent growth across key parameters:
| Metric: |
FY 2026 |
FY 2025 |
FY 2024 |
FY 2023 |
FY 2022 |
| Total Income (INR Crores): |
2,582.92 |
2,121.84 |
1,778.53 |
1,629.24 |
1,436.11 |
| EBITDA (INR Crores): |
665.45 |
474.16 |
354.82 |
207.34 |
226.24 |
| PAT (INR Crores): |
327.54 |
187 |
95.43 |
21.28 |
97.38 |
| EBITDA Margin (%): |
25.76 |
22.35 |
19.95 |
12.73 |
15.75 |
| RoE (%): |
24.76 |
16.45 |
10.74 |
2.57 |
12.63 |
| ROCE (%): |
22.24 |
17.95 |
12.12 |
5.45 |
10.28 |
| Debt-to-Equity (x): |
0.62 |
0.95 |
0.97 |
1.23 |
1.05 |
Strategic Vision and Expansion
The company is pursuing its 5K:1K vision, targeting ₹ 5,000 Crores in revenue and ₹ 1,000 Crores in EBITDA over the next 3 to 4 years, supported by committed capex of approximately ₹ 1,200 Crores across three structured phases. Phase I focuses on expanding capacity for flagship products from 48,000 to 54,000 metric tonnes, with Phase I of the expansion plan expected to be completed by mid-August 2026. Phase II involves the introduction of multi-speciality products including Maltol, Ethyl Maltol and Ethylene Brassylate (Musk T), targeted for completion by September 2027. Phase III adds high-end speciality products including Cyclopentanone, expected to be completed by September 2027. The first phase of expansion will ultimately increase manufacturing capacity from 48,000 MTPA to 66,000 MTPA by June 2027. The company has qualified under the Large Investment Bracket in Maharashtra's incentive scheme and expects to qualify under the Ultra Mega Project category as cumulative capex rises.
The company's PRIGIV joint venture with Givaudan SA continued to make progress during the year. Both partners committed an additional INR 50 Crores toward expansion, with the company contributing ₹ 25.50 Crores (51%) and Givaudan SA contributing ₹ 24.50 Crores (49%). About 25 of the planned 42 speciality molecules under PRIGIV have already been commercialised. PRIGIV achieved positive PAT in Q4 FY26, and is set to receive approximately INR 180 Crores non-interest-bearing trade advance from Givaudan, which will help reduce debt and lower interest costs.
Corporate Developments and Governance
The Board approved a Scheme of Amalgamation at its meeting held on December 19, 2025, involving Privi Fine Sciences Private Limited (Transferor Company 1) and Privi Biotechnologies Private Limited (Transferor Company 2) with Privi Speciality Chemicals Limited (Transferee Company). The merger, expected to be completed by December 2026, will consolidate manufacturing capacity, enhance biotechnology-driven R&D capabilities and expand the speciality and flavour chemicals portfolio. No-Objection letters from NSE and BSE were received on May 5, 2026 and May 6, 2026, respectively, with the final petition pending before the NCLT Bench.
CRISIL Ratings Limited, vide its letter dated April 21, 2026, reaffirmed the company's credit rating as CRISIL AA-/Stable for long-term bank facilities and CRISIL A1+ for short-term bank facilities. The Board also approved the withdrawal of a previously approved fund-raising proposal of up to ₹ 1,000 Crores via QIP, citing improved financial performance and availability of adequate internal cash accruals.
AGM and Dividend Details
The 41st AGM will be held on Friday, August 7, 2026, at 4:00 p.m. IST through Video Conferencing (VC) and Other Audio-Visual Means (OAVM). The following table summarises key meeting dates:
| Event: |
Date |
Time |
| Record Date: |
Friday, July 31, 2026 |
— |
| Book Closure Start: |
Saturday, August 1, 2026 |
— |
| Book Closure End: |
Friday, August 7, 2026 |
— |
| Remote E-voting Start: |
Tuesday, August 4, 2026 |
9:00 a.m. IST |
| Remote E-voting End: |
Thursday, August 6, 2026 |
5:00 p.m. IST |
| AGM: |
Friday, August 7, 2026 |
4:00 p.m. IST |
| Dividend Payment (on or before): |
Saturday, September 5, 2026 |
— |
The AGM agenda includes declaration of the final dividend of ₹10 per share, re-appointment of Mr. Mahesh Purshottam Babani as Director retiring by rotation, ratification of cost auditor remuneration of ₹ 9,00,000 per annum payable to M/s. Kishore Bhatia & Associates for FY 2026-27, and re-appointment of Mr. Bhaktavatsala Rao Doppalapudi as Executive Director for three years commencing August 13, 2026, at a remuneration of up to ₹ 2,10,00,000 per annum. MUFG Intime India Private Limited (formerly Link Intime India Private Limited) has been engaged to facilitate remote e-voting and e-voting during the AGM.
Sustainability and ESG
The company holds an EcoVadis Platinum rating, placing it among the top-performing companies globally. Approximately 67% of revenue comes from renewable raw materials, while nearly 47% of power requirements are met through renewable energy (including I-RECs). The company has set SBTi-validated targets to reduce Scope 1 and 2 emissions by 50.4% by 2032 and Scope 3 emissions by 35% by 2034. A 5 MW open-access solar plant is under commissioning, and a 3.5 MW hybrid solar-wind project at Jhagadia is in the final stages of planning. The company spent ₹ 271.37 Lakhs on CSR activities during FY 2025-26 against a total CSR obligation of ₹ 285 Lakhs, with ₹ 13.63 Lakhs transferred to an Unspent CSR Account.