Just when everyone thought global chemical chaos had Aarti cornered, the company walked into Q2 like, “Tariffs? Never heard of her.” Despite Uncle Sam’s tariff tantrum, the specialty chem champ pulled off a clean 21% sequential revenue bump — no miracles, just old-school execution. The management claims it’s all part of their “innovation and diversification strategy,” which sounds fancy for “we sold where we could.” And while the sector sweats over trade wars, Aarti is already building its next chemical empire in Zone 4 — multipurpose plants, R&D firepower, and enough jargon to keep analysts busy. Strap in — this concall swings between geopolitical chemistry and good old EBITDA alchemy.
2. At a Glance
Revenue ₹2,250 crore – Up 21% QoQ; tariffs who?
EBITDA ₹292 crore – Up 36%; capacity utilization got caffeine.
PAT ₹106 crore – Up 150%; clearly not a “chemical reaction,” just math.
Capex ₹267 crore – CFO still allergic to free cash flow.
Full-year Capex ₹1,000 crore – Because who doesn’t love shiny new reactors?
Export mix 60%+ – Tariffs can’t stop the global hustle.
3. Management’s Key Commentary
“Despite market pressures, we delivered sequential growth.” (Translation: The U.S. may hate us, but Europe still picks up our calls.)
“Tariffs are a near-term headwind, but we diversified our export mix.” (Translation: We ghosted America and slid into Europe’s DMs.)
“EBITDA up 36% QoQ due to cost optimization.” (Translation: We turned cost-cutting into a core competency. 😏)
“MMA achieved peak utilization, debottlenecking underway.” (Translation: The machines are sweating; we’re asking for more.)
“Zone 4 expansion and MPP will enhance flexibility.” (Translation: The next-gen chemistry playground is under construction.)
“We’ll commission PEDA project in Q4 FY26.” (Translation: New molecule, new hope, new Excel tab.)
“Capex remains disciplined.” (Translation: Don’t worry, we won’t blow the budget… much.)
