Tatva Chintan Pharma Chem Q4 & FY26 Results: Net Profit Surges, EBITDA Margin Expands
Tatva Chintan Pharma Chem reported strong Q4 FY26 results with consolidated net profit surging to ₹103mn from ₹10.30mn YoY and EBITDA margin expanding to 21% from 8.30%. For FY26, consolidated revenue grew to ₹5,058.58mn from ₹3,827.14mn, while net profit rose to ₹420.54mn from ₹57.13mn. The Board recommended a final dividend of ₹2 per equity share and approved new auditor appointments for FY2026-27.
*this image is generated using AI for illustrative purposes only.
Tatva Chintan Pharma Chem Limited's Board of Directors approved the audited standalone and consolidated financial results for the quarter and financial year ended 31 March 2026, at its meeting held on 16 May 2026. The statutory auditors, M/s. NDJ & Co., Chartered Accountants, issued an unmodified audit opinion on both the standalone and consolidated financial results. Pursuant to Regulation 30 and 47 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published an extract of its financial results in Financial Express (English edition) and Vadodara Samachar (Gujarati edition) on 17 May 2026. The Board recommended a final dividend of ₹2 per equity share (20% on face value of ₹10 each), subject to shareholder approval at the ensuing Annual General Meeting.
Company at a Glance
Tatva Chintan Pharma Chem is an integrated specialty chemical company established in 1996 by first-generation entrepreneur engineers. Its plants are located at Ankleshwar and Dahej SEZ, Gujarat, with a combined installed reactor capacity of 791KL and 39 Assembly Lines as on 31 March 2026. The company operates a State-of-the-Art R&D Unit recognised by DSIR at Vadodara, Gujarat, and holds a Credit Rating of CRISIL BBB+/Stable & A2. Its customer base spans over 25 countries, including the USA, UK, China, Germany, Japan, and South Africa, with exports constituting 75% of revenue in FY25. Overseas subsidiaries in the USA and Netherlands provide offshore support.
The company's revenue in FY26 was led by Structure Directing Agents (SDA) at 41%, followed by Phase Transfer Catalysts (PTC) at 23%, and Electrolyte Salts (ESS) at 3%, with the balance from Pharmaceuticals and Agrochemical Intermediates and other Specialty Chemicals (PASC). SDA revenue stood at ₹2,045 mn in FY26, making Tatva Chintan the second-largest supplier of SDAs for zeolites globally and the largest commercial supplier in India.
| Product Category: | Revenue Share (FY26) |
|---|---|
| Structure Directing Agents (SDA): | 41% |
| Phase Transfer Catalysts (PTC): | 23% |
| Electrolyte Salts (ESS): | 3% |
| PASC & Others: | Remaining |
Q4 Operational Highlights
The company delivered a strong operational performance in Q4 FY26, with EBITDA surging to ₹281 million compared to ₹89.50 million in the same quarter of the previous year. The EBITDA margin expanded significantly to 21% from 8.30% in the corresponding prior-year period. On a consolidated basis, Q4 net profit rose to ₹103 million versus ₹10.30 million in Q4 of the prior year, while Q4 revenue stood at ₹1.30 billion compared to ₹1.10 billion year-on-year.
| Metric: | Q4 FY26 | Q4 FY25 (YoY) |
|---|---|---|
| EBITDA (₹ mn): | 281.00 | 89.50 |
| EBITDA Margin (%): | 21.00 | 8.30 |
| Consolidated Net Profit (₹ mn): | 103.00 | 10.30 |
| Revenue (₹ bn): | 1.30 | 1.10 |
Consolidated Financial Performance
The consolidated financial results for the year ended 31 March 2026 reflect a significant improvement over the prior year. Revenue from operations rose to ₹5,058.58 million in FY26 from ₹3,827.14 million in FY25. Net profit for the year surged to ₹420.54 million from ₹57.13 million in the previous year, while total comprehensive income reached ₹452.74 million against ₹64.20 million in FY25. Basic EPS on a consolidated basis stood at ₹17.98 for FY26 compared to ₹2.44 in FY25.
| Metric: | Q4 FY26 (Unaudited) | Q3 FY26 (Unaudited) | Q4 FY25 (Unaudited) | FY26 (Audited) | FY25 (Audited) |
|---|---|---|---|---|---|
| Revenue from Operations (₹ mn): | 1,341.44 | 1,313.34 | 1,078.64 | 5,058.58 | 3,827.14 |
| Total Income (₹ mn): | 1,337.96 | 1,330.68 | 1,085.86 | 5,094.07 | 3,850.29 |
| Total Expenses (₹ mn): | 1,172.09 | 1,154.10 | 1,065.59 | 4,523.98 | 3,774.50 |
| Profit Before Tax (₹ mn): | 165.87 | 176.58 | 20.27 | 570.09 | 75.79 |
| Net Profit (₹ mn): | 103.21 | 151.65 | 10.30 | 420.54 | 57.13 |
| Total Comprehensive Income (₹ mn): | 117.23 | 156.48 | 11.71 | 452.74 | 64.20 |
| Basic EPS (₹): | 4.41 | 6.49 | 0.44 | 17.98 | 2.44 |
Consolidated Balance Sheet Highlights
As at 31 March 2026, total consolidated assets stood at ₹10,036.94 million compared to ₹8,362.49 million as at 31 March 2025. Total equity attributable to owners was ₹7,817.59 million versus ₹7,388.24 million in the prior year. Other equity excluding revaluation reserve was ₹7,583.67 million as at 31 March 2026 against ₹7,154.32 million previously. Current borrowings increased to ₹1,153.63 million from ₹363.88 million, while inventories rose to ₹1,960.74 million from ₹1,339.54 million.
| Particulars: | 31.03.2026 (Audited) | 31.03.2025 (Audited) |
|---|---|---|
| Total Assets (₹ mn): | 10,036.94 | 8,362.49 |
| Total Equity (₹ mn): | 7,817.59 | 7,388.24 |
| Other Equity excl. Revaluation Reserve (₹ mn): | 7,583.67 | 7,154.32 |
| Inventories (₹ mn): | 1,960.74 | 1,339.54 |
| Trade Receivables (₹ mn): | 1,190.31 | 895.49 |
| Current Borrowings (₹ mn): | 1,153.63 | 363.88 |
Consolidated Cash Flow Summary
For the year ended 31 March 2026, net cash generated from operating activities was ₹314.89 million compared to ₹247.74 million in the prior year. Cash used in investing activities was ₹1,158.42 million, driven primarily by purchase of property, plant and equipment of ₹1,137.74 million. Cash generated from financing activities was ₹789.32 million, supported by net proceeds from short-term borrowings of ₹785.84 million. Cash and cash equivalents at the end of the year stood at ₹57.64 million versus ₹113.74 million at the beginning of the year.
| Cash Flow Item: | FY26 (Audited, ₹ mn) | FY25 (Audited, ₹ mn) |
|---|---|---|
| Net Cash from Operating Activities: | 314.89 | 247.74 |
| Cash Used in Investing Activities: | (1,158.42) | (653.84) |
| Cash from Financing Activities: | 789.32 | 165.93 |
| Closing Cash & Cash Equivalents: | 57.64 | 113.74 |
Standalone Financial Performance
On a standalone basis, revenue from operations for FY26 was ₹4,962.96 million compared to ₹3,664.15 million in FY25. Profit before tax stood at ₹531.65 million for FY26, a substantial improvement from ₹4.61 million in FY25. Net profit after tax for FY26 was ₹390.82 million against ₹3.27 million in FY25. Total comprehensive income on a standalone basis was ₹392.56 million versus ₹1.10 million in the prior year, with basic EPS at ₹16.71 compared to ₹0.14.
| Metric: | Q4 FY26 (Unaudited) | Q3 FY26 (Unaudited) | Q4 FY25 (Unaudited) | FY26 (Audited) | FY25 (Audited) |
|---|---|---|---|---|---|
| Revenue from Operations (₹ mn): | 1,326.65 | 1,385.88 | 1,076.48 | 4,962.96 | 3,664.15 |
| Profit Before Tax (₹ mn): | 149.75 | 187.92 | 15.54 | 531.65 | 4.61 |
| Net Profit After Tax (₹ mn): | 90.23 | 159.84 | 10.95 | 390.82 | 3.27 |
| Total Comprehensive Income (₹ mn): | 91.66 | 161.54 | 10.38 | 392.56 | 1.10 |
| Basic EPS (₹): | 3.86 | 6.84 | 0.47 | 16.71 | 0.14 |
Shareholding and Market Data
As on 31 March 2026, the promoter holding stood at 72.02%, with Mutual Funds at 2.87%, Foreign Portfolio Investors at 3.82%, public at 20.40%, and others at 0.89%. The share price was ₹1,052.40, with a market capitalisation of ₹24,618 million and a free-float market cap of ₹6,888 million. Total shares outstanding were 2,33,92,055, with a three-month average daily trading volume of 82,119 shares (₹101 million).
| Shareholder Information: | Details |
|---|---|
| Share Price (₹): | 1,052.40 |
| Market Cap (₹ mn): | 24,618 |
| Free Float (%): | 27.98% |
| Free Float Market Cap (₹ mn): | 6,888 |
| Shares Outstanding: | 2,33,92,055 |
| 3M ADTV (Shares): | 82,119 |
| 3M ADTV (₹ mn): | 101 |
| Promoter Holding (%): | 72.02% |
| FPI (%): | 3.82% |
| MF (%): | 2.87% |
| Public (%): | 20.40% |
Newspaper Publication and Regulatory Compliance
Pursuant to Regulation 30 and 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company submitted copies of the newspaper publication of the extract of financial results to BSE Limited and the National Stock Exchange of India Limited on 17 May 2026. The extract was published in Financial Express (English edition) and Vadodara Samachar (Gujarati edition) on 17 May 2026. The submission was made by Company Secretary and Compliance Officer Ishwar Nayi (M. No.: A37444) on behalf of the Board of Directors. The full format of financial results is available on the websites of BSE Limited and National Stock Exchange of India Limited, as well as on the company's website at www.tatvachintan.com .
| Regulatory Filing Details: | Information |
|---|---|
| Regulation: | Regulation 30 & 47, SEBI LODR 2015 |
| Publication Date: | 17 May 2026 |
| English Newspaper: | Financial Express |
| Gujarati Newspaper: | Vadodara Samachar |
| Compliance Officer: | Ishwar Nayi, M. No.: A37444 |
Board Decisions and Auditor Appointments
The Board approved the appointment of M/s. Zarna Thakar & Associates, Cost Accountants, as Cost Auditor for FY2026-27, subject to shareholder approval. M/s. Zarna Thakar & Associates is a leading Cost & Management Accounting firm with 10+ years of experience and has conducted cost audits for 100+ companies across industries. RSM Astute Consultech Private Limited was appointed as the Internal Auditor for the financial year 2026-27. RSM India ranks amongst India's top 6 audit, tax and consulting groups and is part of RSM International, with offices in 14 key cities. The company operates in a single reportable business segment — specialty chemicals — and includes the results of subsidiaries Tatva Chintan USA Inc. and Tatva Chintan Europe B.V. The Board meeting commenced at 12:30 P.M. and concluded at 03:05 P.M. on 16 May 2026.
Historical Stock Returns for Tatva Chintan Pharma
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -4.85% | -7.37% | +0.45% | -15.91% | +63.66% | -45.84% |
Given the sharp increase in current borrowings (from ₹363 mn to ₹1,153 mn) and heavy capex of ₹1,137 mn in FY26, how will Tatva Chintan manage its debt levels and liquidity position in FY27 if operating cash flows remain constrained?
With SDA revenue at ₹2,045 mn making Tatva Chintan the second-largest global supplier of zeolite SDAs, what strategic moves could the company pursue to challenge the top position, and are there risks from Chinese competition intensifying in this segment?
Given that Electrolyte Salts (ESS) contributed only 3% of revenue in FY26 despite the global EV battery boom, what factors are limiting the segment's growth and could a breakthrough in ESS demand materially re-rate the company's valuation?
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