Vishnu Chemicals Q3FY26: Revenue Up 10.58% But EBITDA Margin Drops to 15.01%
Vishnu Chemicals delivered mixed Q3FY26 results with revenue growing 10.58% to ₹41,132.80 lakhs driven by strong overseas performance, but faced margin pressure as EBITDA margin declined to 15.01% from 17.11% year-on-year. Despite revenue growth, net profit decreased 1.85% to ₹3,376.07 lakhs due to higher operational costs.

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Vishnu Chemicals Limited announced its consolidated financial results for the third quarter ended December 31, 2025, following board approval at their meeting held on January 31, 2026. The specialty chemicals manufacturer reported revenue from operations of ₹4.11 billion (₹41,132.80 lakhs), representing a 10.58% increase from ₹3.78 billion (₹37,122.06 lakhs) in the corresponding quarter of the previous year.
Board Meeting and Regulatory Compliance
The Board of Directors approved the unaudited standalone and consolidated financial results at their meeting held on January 31, 2026, which commenced at 3:00 PM and concluded at 3:40 PM. The results were reviewed by the audit committee and subjected to limited review by statutory auditors Jampani & Associates, who expressed an unmodified opinion. The company has filed the results with BSE Limited and National Stock Exchange of India Limited under Regulation 33.
Financial Performance Overview
The company's quarterly performance demonstrated resilience in revenue generation despite challenging market conditions. Total income for Q3FY26 reached ₹41,751.20 lakhs compared to ₹37,420.65 lakhs in Q3FY25, marking an 11.57% year-on-year growth. However, consolidated net profit declined to ₹3,376.07 lakhs from ₹3,439.70 lakhs in the previous year.
| Metric: | Q3FY26 | Q3FY25 | Change (%) |
|---|---|---|---|
| Revenue from Operations: | ₹41,132.80 lakhs | ₹37,122.06 lakhs | +10.58% |
| Total Income: | ₹41,751.20 lakhs | ₹37,420.65 lakhs | +11.57% |
| Net Profit: | ₹3,376.07 lakhs | ₹3,439.70 lakhs | -1.85% |
| Profit Before Tax: | ₹4,357.27 lakhs | ₹4,442.36 lakhs | -1.92% |
EBITDA Performance and Margin Analysis
The company's EBITDA performance reflected margin pressure during the quarter. EBITDA for Q3FY26 stood at ₹617.4 million compared to ₹635 million in the corresponding quarter of the previous year. More significantly, the EBITDA margin compressed to 15.01% in Q3FY26 from 17.11% in Q3FY25, indicating increased operational costs relative to revenue growth.
| EBITDA Metrics: | Q3FY26 | Q3FY25 | Change |
|---|---|---|---|
| EBITDA: | ₹617.4 million | ₹635 million | -₹17.6 million |
| EBITDA Margin: | 15.01% | 17.11% | -210 bps |
Profitability Analysis
Despite strong revenue growth, the company experienced a slight decline in profitability. Net profit for Q3FY26 stood at ₹3,376.07 lakhs, down 1.85% from ₹3,439.70 lakhs in Q3FY25. Profit before tax also decreased by 1.92% to ₹4,357.27 lakhs from ₹4,442.36 lakhs in the previous year.
Total expenses increased to ₹37,393.93 lakhs in Q3FY26 from ₹32,978.29 lakhs in Q3FY25, representing a 13.38% rise. Key expense components included cost of materials consumed at ₹19,131.91 lakhs and manufacturing expenses of ₹3,217.29 lakhs.
Nine-Month Performance
For the nine months ended December 31, 2025, Vishnu Chemicals demonstrated stronger overall performance with revenue from operations reaching ₹1,15,939.20 lakhs, up 10.01% from ₹1,05,392.96 lakhs in the corresponding period last year.
| Parameter: | 9M FY26 | 9M FY25 | Growth (%) |
|---|---|---|---|
| Revenue from Operations: | ₹1,15,939.20 lakhs | ₹1,05,392.96 lakhs | +10.01% |
| Net Profit: | ₹9,886.84 lakhs | ₹8,770.38 lakhs | +12.73% |
| Total Income: | ₹1,17,957.48 lakhs | ₹1,06,354.92 lakhs | +10.91% |
Geographic Revenue Distribution
The company's revenue split reveals a strong international presence, with overseas markets contributing significantly to overall performance. In Q3FY26, overseas revenue totaled ₹22,422.80 lakhs compared to domestic revenue of ₹18,515.97 lakhs.
| Region: | Q3FY26 | Q3FY25 | Change (%) |
|---|---|---|---|
| Overseas: | ₹22,422.80 lakhs | ₹18,897.15 lakhs | +18.66% |
| Domestic: | ₹18,515.97 lakhs | ₹18,123.14 lakhs | +2.17% |
Earnings Per Share and Capital Structure
Earnings per share for Q3FY26 stood at ₹5.02 compared to ₹5.25 in Q3FY25, reflecting the marginal decline in net profit. For the nine-month period, EPS improved to ₹14.69 from ₹13.38 in the previous year. The company maintained a paid-up equity share capital of ₹1,346.31 lakhs with a face value of ₹2.00 per share.
The results include consolidated financial information from the company's subsidiaries including Vishnu Barium Private Limited, Vishnu Strontium Private Limited, VCHEM Global Inc., Vishnu South Africa (Pty) Ltd, and step-down subsidiaries Ramadas Minerals Private Limited and VCHEM Trading FZE.
Historical Stock Returns for Vishnu Chemicals
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +1.28% | +1.77% | -4.48% | +1.59% | +22.39% | +1,378.84% |


































