The call ran from 2:01 PM to 2:37 PM IST (37 min).
Key takeaways
Q2 FY27 revenue ₹1,083 Cr, +55% YoY, largely price pass-through; specialty margins fell on hedge fixed costs. Management upbeat, but evasive on spreads; working capital elevated.
| Revenue growth | ₹1,083 Cr revenue, +55% YoY; price pass-through contributed heavily. |
|---|---|
| Margins | Specialty margin ~12% H1, down sharply; hedge costs drag; mid-teens targeted. |
| Demand visibility | Mixed: industrial up post-Diwali; agro and pharma mixed; customers buying hand-to-mouth. |
| Management confidence | Confident but evasive on margin spreads; relies on 'resilience across cycles'. |
Growth
Revenue +55% YoY, with volume ~18-20% and the rest from price. EBITA ₹108 Cr, +191% YoY off a weak base.
Outlook
Hedge customer ramp from Q4; Project VAYU commissioning Q3; FY28 first full-revenue year. No numeric growth guidance given.
Risks
Specialty margin ~12% in H1 with hedge fixed costs; elevated working capital; spread question answered without numbers; shipping volatility.
Last quarter's promises, checked
Delivered
- Term debt peak ~INR6,100mn → ~₹610 Cr (= BEAT)
- Net debt/equity ~0.3x → 0.28x (= BEAT)
Partly delivered
- Dahej Ph2 85% capex capitalized in Q2 → hedge plant partly commissioned (= PARTIAL)
- Project VAYU mechanical completion early Q3 → commissioning Q3 reaffirmed, not yet proven (= PARTIAL)
- Dahej Ph2 customer ramp-up Q4 → hedge customer ramp from Q4 reaffirmed (= PARTIAL)
Missed
- Specialty margin 20-25% ambition → ~12% H1, mid-teens target (= MISS)
- Working capital to normalize over time → still elevated (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Laxmi Organic Industries Q2 FY27 Results: Net Profit ₹57 Cr, Up 418.2% YoY
Laxmi Organic Industries Ltd reported revenue from operations of ₹1,083 Cr (+54.7% YoY) and net profit of ₹57 Cr (+418.2% YoY) for Q2 FY27.
- Key figure
- Net profit ₹57 Cr · +418.2% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Dahej Phase 2 operations starting Q1FY27; Hitachi project Q3FY27; new CFO Amit Jain joining June 16.
Growth they described
Q4FY26 revenue up 9% QoQ; FY26 revenue degrown 6% YoY. Specialties segment revenue dropped 18% YoY.
Call details
| Company | Laxmi Organic Industries Limited |
|---|---|
| NSE symbol | LXCHEM |
| ISIN | INE576O01020 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 6 November 2026 |
| Time | 2:00 PM IST |
| Length | 37 min |
| Audio | Our stream on YouTube ↗ |
Laxmi Organic Industries Limited: key numbers
- Share price
- ₹163.16
- Market cap
- ₹4,534 Cr
- Revenue (annual)
- ₹2,847 Cr
- Net profit (annual)
- ₹79.36 Cr
- P/E (TTM)
- 26.4×Sector 34.8×
- Promoter holding
- 69.16%-0.18% QoQ
- FII holding
- 0.93%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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