Valiant Organics returns to profitability in FY26 with PAT of INR 332 Mn

Valiant Organics Limited returned to profitability in FY26, reporting a Profit After Tax (PAT) of INR 332 million compared to a net loss of INR 34 million in the previous year. The turnaround was driven by focused operational execution and structural cost optimization initiatives, which led to an EBITDA margin expansion of 447 basis points to 11.94%. Operational revenue for the year increased by 2.8% year-on-year to INR 7,388 million, supported by stable demand and improved realizations across key product categories.

The company’s financial performance improved significantly in the fourth quarter, with operational revenue rising 36.7% quarter-on-quarter to INR 2,178 million. PAT for Q4-FY26 reached INR 157 million, while the EBITDA margin for the quarter stood at 12.17%. The full-year recovery was underpinned by lower raw material intensity, disciplined cost management, and better working capital efficiencies.

Consolidated Financial Performance

The annual results show a robust recovery across key profitability metrics. EBITDA for FY26 surged 64.2% to INR 882 million from INR 537 million in FY25. The company’s PAT margin improved to 4.49% from a negative 0.47% in the prior year. Basic and Diluted EPS for FY26 was reported at INR 11.86 per share, compared to INR (1.24) per share in FY25.

Particulars (INR Mn)	FY26	FY25	Y-o-Y
Revenue from Operations	7,388	7,188	2.8%
EBITDA	882	537	64.2%
EBITDA Margins (%)	11.94%	7.47%	447 Bps
PAT	332	(34)	NA
PAT Margins (%)	4.49%	(0.47)%	496 Bps

Segment and Operational Highlights

Revenue contributions were led by the Hydrogenation chemistry segment, which accounted for 48% of total sales, followed by Ammonolysis at 26% and Chlorination at 20%. By end-user industry, Dyes & Pigments represented the largest segment at 45%, followed by Agro Chemicals at 24% and Pharmaceuticals at 21%. The company operates six manufacturing units across five locations with a total production capacity of 70,000 TPA.

Balance Sheet and Ratios

The company’s net worth stood at INR 5,882 million as of March 31, 2026, while the net debt to equity ratio remained stable at 0.33x. Return on Capital Employed (ROCE) improved to 5.52% in FY26 from 2.72% in the previous year, and Return on Equity (ROE) turned positive at 4.37% compared to (0.47)% in FY25.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.68%	-1.44%	+16.78%	+17.42%	-24.92%	-81.17%

Valiant Organics Limited has announced the commencement of remote e-voting for its postal ballot process. The company has informed that the remote e-voting facility will be available to members starting Saturday, May 23, 2026, at 9:00 a.m. IST. The voting process will conclude on Sunday, June 21, 2026, at 5:00 p.m. IST, after which the facility will be blocked by NSDL.

The postal ballot notice was dispatched electronically on Friday, May 22, 2026, to members who had registered their email addresses with the company, Registrar and Transfer Agent (RTA), or depository participants as of the cut-off date of Friday, May 15, 2026. Consequently, physical notices will not be dispatched for this process. The company has engaged the services of National Securities Depository Limited (NSDL) to facilitate secure electronic voting.

E-Voting Schedule

The schedule for the remote e-voting process is outlined below:

Event	Date and Time
Commencement of e-Voting	Saturday, May 23, 2026 at 9:00 a.m. (IST)
End of e-Voting	Sunday, June 21, 2026 at 05:00 p.m. (IST)
Cut-off Date	Friday, May 15, 2026

Members holding shares in either physical or electronic form as of the cut-off date are eligible to cast their votes. Once a vote is cast on a resolution, it cannot be changed subsequently. The company has requested members to record their assent or dissent through the remote e-voting process before the deadline.

Results and Scrutinizer Appointment

The Board of Directors has appointed CS Ronak Kalathia and CS Monali Bhandari, partners of M/s. Mehta and Mehta, as scrutinizers to conduct the postal ballot. The results of the postal ballot, along with the scrutinizer's report, are scheduled to be announced on or before Tuesday, June 23, 2026. These results will be displayed at the company's registered office and hosted on its website, as well as communicated to the BSE and NSE stock exchanges.

The postal ballot notice and detailed instructions for e-voting are available on the company's website, the websites of BSE and NSE, and the NSDL e-voting portal. Members with queries regarding the electronic voting process have been directed to contact NSDL via the provided email and helpline numbers.