Vishnu Chemicals Limited reported a consolidated net profit after tax (PAT) of ₹14,227.10 lakh for the financial year ended March 31, 2026, marking a 12.34% increase from ₹12,664.27 lakh in FY25. This performance underscores the company's ability to sustain profitability amid shifting global dynamics, supported by higher sales volumes and operational efficiencies across its speciality chemicals portfolio. Shareholders are set to benefit from a recommended final dividend of ₹0.30 per equity share, maintaining the 15% payout ratio consistent with the previous year.

The filing was submitted pursuant to Regulation 34(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors approved the financial statements on May 30, 2026, and will seek shareholder approval for the dividend and other resolutions at the 33rd Annual General Meeting scheduled for August 28, 2026. The record date for dividend entitlement is fixed as August 21, 2026.

Financial Performance Overview

Consolidated revenue from operations rose by 11.66% to ₹1,60,969.89 lakh from ₹1,44,656.22 lakh in FY25. Operating earnings before interest, tax, depreciation, and amortisation (EBITDA) grew by 10.50% to ₹25,236.29 lakh. On a standalone basis, total income increased by 12.93% to ₹1,25,339.11 lakh, while standalone EBITDA declined marginally by 2.15% to ₹14,119.63 lakh due to higher operating costs.

Geographic and Operational Insights

The company maintained a balanced geographic mix, with domestic revenue contributing 52.01% (₹83,369.54 lakh) and overseas revenue accounting for 47.99% (₹76,929.79 lakh) of the consolidated total. Vishnu Chemicals continues to leverage its integrated manufacturing capabilities across Chromium, Barium, and Strontium chemistries. The company also highlighted advancements in sustainability, including R&D expenditures of ₹127 lakh focused on waste valorisation and circular economy initiatives.

What the Numbers Show

A key analytical observation is the divergence between standalone and consolidated EBITDA trends. While consolidated EBITDA grew by 10.50%, standalone EBITDA contracted by 2.15%. This suggests that subsidiaries, particularly Vishnu Barium Private Limited, contributed disproportionately to the group’s operational profitability gains, offsetting cost pressures at the parent entity. Additionally, other income surged significantly, rising from ₹1,531.42 lakh to ₹2,266.29 lakh on a consolidated basis, driven largely by a net gain on foreign exchange fluctuations of ₹1,928.14 lakh, which provided a tailwind to the bottom line.

Governance and Compliance

The Secretarial Audit Report noted a delay in compliance with Regulation 21(2) of the SEBI LODR Regulations regarding the composition of the Risk Management Committee between May 15, 2025, and February 17, 2026. The company reconstituted the committee effective February 18, 2026, and paid fines levied by both stock exchanges. M/s. Jampani & Associates served as statutory auditors for their final term, with M/s. M. Anandam & Co proposed for appointment for a five-year term starting from the conclusion of the AGM.

Vishnu Chemicals Limited will hold its 33rd Annual General Meeting (AGM) on Friday, August 28, 2026, at 11.00 a.m. IST via video conferencing or other audio visual means. The meeting aims to finalize key corporate governance matters for the financial year ended March 31, 2026, including the declaration of a final dividend and the appointment of new statutory auditors, ensuring continuity in compliance and shareholder returns.

The Board of Directors has recommended a final dividend of ₹0.30 per equity share of ₹2/- each, representing a 15% payout for FY26. The record date for determining dividend entitlement is fixed at Friday, August 21, 2026. If approved by shareholders, the dividend will be paid within 30 days of the AGM exclusively in electronic mode, in line with SEBI regulations effective from November 18, 2025. Physical shareholders must update their bank mandates by August 14, 2026, to ensure timely receipt.

A significant governance change involves the replacement of Statutory Auditors. M/s Jampani & Associates, Chartered Accountants, will complete their second consecutive five-year term upon the conclusion of this AGM. The Audit Committee has recommended the appointment of M/s M. Anandam & Co Chartered Accountants for a first term of five years, from the conclusion of the 33rd AGM until the 38th AGM. The proposed remuneration for the new auditors is ₹21.25 lakhs plus taxes and out-of-pocket expenses for FY27, comprising ₹19.00 lakhs for statutory audit services and ₹2.25 lakhs for tax audit services.

The AGM agenda also includes the re-appointment of Mr. Nagabhushan Bhagwati as an Independent Director for a second term of four years, from August 28, 2026, to August 27, 2030. Additionally, shareholders will ratify the remuneration of M/s Sagar & Associates, Cost Accountants, for cost audit services for FY27, capped at ₹1.05 lakhs per annum plus applicable taxes. Mrs. Ch. Manjula retires by rotation and offers herself for re-appointment as a Director.

Key AGM Details

Auditor Remuneration Comparison

The shift in statutory auditors brings a marginal increase in audit fees. The following table compares the remuneration proposed for the new auditor against the fees paid to the retiring auditor for the previous financial year.

The increase of ₹2.05 lakhs, or approximately 10.68%, is attributed to the scope and regulatory requirements associated with the audit of the company’s operations. The Board views the proposed remuneration as commensurate with the services to be rendered by M/s M. Anandam & Co, which holds a valid Peer Review Certificate from the Institute of Chartered Accountants of India.

What the Numbers Show

The dividend recommendation of ₹0.30 per share indicates a consistent approach to shareholder returns, although the absolute payout remains modest relative to the face value. The transition of statutory auditors after two consecutive terms is a standard compliance requirement under Section 139 of the Companies Act, 2013. The slight rise in audit fees suggests an expanded scope or increased complexity in the audit process, which is typical when transitioning to a new firm that may require additional initial diligence. The re-appointment of Independent Director Nagabhushan Bhagwati ensures stability in the board’s oversight committee, particularly given his background as a Fellow Member of ICAI and Insolvency Professional.