Styrenix Performance Materials Limited , a key player in the engineering polymers sector, has released its financial results for the quarter ended September 30, 2025, revealing a mixed performance with decreased revenue but maintained profitability.

Revenue Decline

The company reported a consolidated total income of ₹772.90 crores for Q2, down from ₹858.50 crores in the previous quarter, marking a quarter-on-quarter decrease. This decline suggests challenging market conditions or seasonal fluctuations affecting the company's sales.

Profit Maintained

Despite the revenue decline, Styrenix Performance Materials maintained profitability:

• Consolidated net profit stood at ₹49.61 crores for the quarter.
• On a standalone basis, the company posted a profit of ₹56.15 crores.

Financial Highlights

Operational Insights

The company's performance reflects the dynamics of the engineering polymers market:

• The decline in total income may indicate challenges in demand or pricing pressures in the market.
• Despite lower revenue, the company's ability to maintain profitability suggests effective cost management or improved operational efficiency.

Strategic Developments

Styrenix Performance Materials has been active in corporate restructuring:

• The company completed the merger of its wholly-owned step-down subsidiaries in Thailand during the quarter, with Styrenix Performance Materials (Thailand) Ltd continuing as the surviving entity.
• This consolidation may streamline operations and potentially lead to cost synergies in the future.

Market Position and Outlook

As a significant player in the Engineering Polymers segment, Styrenix Performance Materials Limited continues to navigate a challenging market environment. The company's ability to maintain profitability despite revenue decline demonstrates its resilience and effective management strategies.

The management may focus on revenue growth strategies while maintaining the operational efficiencies achieved. Investors and market analysts will likely watch closely how the company adapts to market conditions and leverages its restructured operations in Thailand to drive future growth.

Corporate Governance

The Board of Directors approved the standalone and consolidated unaudited financial results at their meeting held on November 12, 2025, demonstrating the company's commitment to timely financial reporting and transparency.

Note: All financial figures are based on the results as reported by the company for the quarter ended September 30, 2025.

Styrenix Performance Materials Limited , a leading manufacturer of ABS and polystyrene, has reported a robust performance for the first quarter, with record-breaking sales volume and improved financial metrics.

Record-Breaking Sales Volume

The company achieved a milestone with a record quarterly sales volume of 51,800 tons, representing an 8.1% increase from the previous quarter's 48,100 tons. This growth demonstrates Styrenix's strong market position and ability to capitalize on demand despite seasonal challenges.

Financial Performance

Styrenix's standalone revenue reached INR 721.00 crores, marking a significant 28.85% quarter-on-quarter growth and a 3.1% year-on-year increase. The company's EBITDA stood at INR 86.10 crores, with an impressive margin of 11.9%.

On a consolidated basis, which includes the recently acquired Thailand operations, the company reported revenue of INR 943.50 crores and EBITDA of INR 99.80 crores, maintaining a healthy 10.6% margin.

Profitability

Styrenix's profit after tax (PAT) on a standalone basis was INR 54.90 crores, representing 7.6% of revenue. This shows a slight improvement from the previous quarter's INR 53.20 crores (7.58% of revenue).

Thailand Operations

The company's Thailand operations, acquired in January 2025, are currently operating at 50-55% capacity utilization. Management is focusing on ramping up production and expanding the customer base in the region, with new offices opened in strategic locations across Asia.

Capacity Expansion and Future Outlook

Styrenix has successfully completed its debottlenecking exercise, resulting in a 20% increase in High Rubber Graft (HRG) capacity. This expansion has contributed to the company's ability to meet growing demand.

Despite seasonal slowdowns in certain segments, particularly in the air conditioning sector, management remains confident of meeting its 10-12% volume growth target. The company maintains a dominant 60-70% share in the specialty ABS segment.

Market Dynamics

The overall ABS demand in India remains robust, with approximately 50% of the market still being met through imports. This presents a significant opportunity for Styrenix to capture additional market share as it expands its domestic production capacity.

Strategic Initiatives

Styrenix is actively working on various strategic initiatives to drive growth:

1. Expanding its product portfolio, including specialty grades like refrigerant ABS and food-grade SAN.
2. Leveraging cross-selling opportunities between India and Thailand operations.
3. Exploring export potential to markets like the European Union in the medium to long term.
4. Continuing to focus on high-value products such as PC ABS blends and ASALAC.

Conclusion

With its strong quarterly performance, ongoing capacity expansions, and strategic focus on high-value products, Styrenix Performance Materials Limited is well-positioned for continued growth in the coming quarters. The company's ability to maintain healthy margins while increasing sales volumes demonstrates its operational efficiency and market leadership in the ABS and polystyrene segments.