Black Rose Industries Reports Strong Revenue Growth in Q2 FY26, Driven by Manufacturing and Distribution Segments

Black Rose Industries Limited (BRIL) has reported a significant increase in revenue for the second quarter of fiscal year 2026, with both its manufacturing and distribution segments showing robust performance. The company's strategic initiatives and improved market conditions have contributed to this growth.

Financial Highlights

BRIL's Q2 FY26 financial performance showcases substantial growth compared to the previous quarter:

Parameter	Q2 FY26	Q1 FY26	Change
Revenue	₹84.31 cr	₹60.89 cr	+38.46%
EBITDA	₹7.54 cr	₹6.89 cr	+9.43%
PBT	₹6.09 cr	₹5.79 cr	+5.06%
PAT	₹4.43 cr	₹4.24 cr	+4.45%

Segment-wise Performance

Manufacturing Division

The manufacturing segment demonstrated strong growth, with sales rising by 19% compared to the previous quarter. Key highlights include:

Acrylamide liquid recorded significant growth, driven by strong domestic demand.
Acrylamide solid maintained steady volumes.
N-methylol acrylamide faced softer demand due to seasonal factors but maintained consistent momentum from key downstream sectors.

Distribution Division

The distribution business showed remarkable improvement:

Turnover surged by 60% over the previous quarter.
Growth was driven by robust supply support from key principals and higher volumes of core products such as ethanolamines, meta-cresol, and purified isophthalic acid.
Merchant export volumes increased, supported by strategic alignment of offerings with customer requirements.

Key Financial Indicators

Parameter	Q2 FY26	Q1 FY26
Distribution : Manufacturing Revenue	1.68 : 1	1.22 : 1
Debt : Equity Ratio	0.04	0.01
Quarterly Interest Coverage Ratio	12.95	29.20
EBITDA Margin	8.98%	11.50%
Net Profit Margin	5.28%	7.10%

Outlook

The company expects improved performance in the upcoming quarter for both divisions:

Manufacturing Division: Anticipated growth in acrylamide liquid exports, recovery in N-methylol acrylamide demand, and stable acrylamide solids performance.
Distribution Division: Steady performance expected despite certain supply constraints, with plans to mitigate through new product additions and expanded market reach.

Projects and Expansions

BRIL continues to focus on innovation and long-term growth:

The polyacrylamide solid R&D program is advancing towards the piloting phase.
A feasibility study for the specialty amines project in collaboration with Koei Chemicals is progressing well.
Environmental clearance for the specialty amines project is anticipated soon.
Other new product development opportunities and toll-manufacturing projects are under active evaluation.

Black Rose Industries' strong performance in Q2 FY26 reflects its ability to capitalize on improved market conditions and strategic initiatives. The company's focus on both its manufacturing and distribution segments, coupled with ongoing R&D efforts, positions it well for continued growth in the Indian chemical industry.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+1.21%	-1.85%	-5.59%	+4.38%	-15.55%	-19.42%

Black Rose Industries Limited , a prominent player in the chemicals sector, has announced its financial results for the second quarter and half-year ended September 30, 2025, along with a significant board appointment.

Financial Performance

The company reported a consolidated revenue from operations of ₹8,397.60 crore for Q2 FY2026, compared to ₹9,304.62 crore in the same quarter of the previous fiscal year. For the half-year ended September 30, 2025, the consolidated revenue stood at ₹14,382.55 crore.

Particulars (₹ in crore)	Q2 FY2026	Q2 FY2025	H1 FY2026	H1 FY2025
Revenue from Operations	8,397.60	9,304.62	14,382.55	16,722.18
Net Profit	442.63	470.92	861.53	942.93
EPS (Basic) - Continuing Operations	0.87	0.91	1.70	1.83

The company's net profit for Q2 FY2026 was ₹442.63 crore, compared to ₹470.92 crore in Q2 FY2025. For the half-year, the net profit reached ₹861.53 crore.

New Independent Director Appointment

In a move to strengthen its corporate governance, Black Rose Industries has appointed Mr. Mayur Desai as an Additional Director (Non-Executive Independent) for a five-year term, effective November 11, 2025. This appointment is subject to member approval through a postal ballot.

Mr. Desai brings over four decades of experience as a Chartered Accountant, with expertise in:

Taxation
Transaction advisory
Corporate governance
Financial management

His extensive background includes advising listed companies, multinational corporations, and start-ups on complex tax and regulatory matters. Mr. Desai has also led several mergers and acquisitions transactions.

Subsidiary Operations

The company disclosed that its wholly-owned subsidiary, B.R. Chemicals Co. Ltd. in Japan, has been classified as a discontinued operation. This follows the Board's decision on August 14, 2025, to initiate steps for the closure, sale, or transfer of 100% shareholding in the subsidiary.

For the half-year ended September 30, 2025, the discontinued operations reported:

Total income: ₹1.37 lakh
Expenses: ₹7.07 lakh
Loss: ₹5.70 lakh
Comprehensive income: ₹2.08 lakh
Assets: ₹33.68 lakh

Looking Ahead

While the company faces challenges, including the discontinuation of its Japanese subsidiary operations, the appointment of Mr. Mayur Desai as an independent director signals Black Rose Industries' commitment to robust corporate governance and strategic growth.