Camlin Fine Sciences Q2 FY27 slides: revenue up 9%, margins collapse

Camlin Fine Sciences saw a 9% rise in revenue for Q2 FY27, reaching Rs 4,915 million, but profitability took a sharp dive. EBITDA margins fell to 0.45% from 7.91% a year prior. The company disclosed a rights issue of up to Rs 2,500 million to combat liquidity issues. Revenue growth in Q2 FY27 was 9.15% YoY, while H1 FY27 saw a 17.9% increase to Rs 10,113 million.

However, operational EBITDA dropped to Rs 22 million in Q2 FY27 from Rs 356 million in the previous year, with margins plummeting to 0.45% from 7.91%. Net losses widened to Rs 281 million in Q2 FY27 and Rs 599 million on a half-year basis, compared to previous losses of Rs 19 million and Rs 50 million respectively. Gross margins contracted to 39.8% in Q2 FY27 from 46.5% in the prior-quarter, driven by higher raw material prices.

The specialty ingredients segment showed resilience, with revenue growing 26% YoY to Rs 1,108 million. The Blends segment also grew 25% to Rs 2,970 million. In stark contrast, the Aroma segment saw a 41% revenue drop to Rs 472 million and a negative EBITDA margin of 23.1%. Performance Chemicals & Others posted a revenue increase of 18% YoY but generated a negative EBITDA margin of 10.6%.

The company's liquidity position was strained, with total equity declining to Rs 9,313.6 million as of September 2026.