Below is a structured extraction and summary of the relevant and actionable financial information from the Vinati Organics Limited results filing dated August 14, 2025:
1. Auditor’s Note
- The statutory auditors, M/s. M. M. Nissim & Co. LLP, have carried out a limited review of both the unaudited consolidated and standalone financial results for the quarter ended June 30, 2025.
- The review reports are unqualified (no qualifications, concerns, or issues).
- The auditors note that one foreign subsidiary’s interim results (with negligible impact) have not been reviewed but are certified by management and are not material to the group.
- Conclusion: No auditor qualifications or concerns.
2. Financial Performance
Key Financial Figures (Rs. Crores except EPS)
| Particulars | Q1 FY26 (Jun 30, 2025) | Q1 FY25 (Jun 30, 2024) | Q4 FY25 (Mar 31, 2025) | FY25 (Apr 1, 2024 - Mar 31, 2025) |
|---|
| Consolidated | | | | |
| Revenue from operations | 541.97 | 524.72 | 648.46 | 2,248.17 |
| Other Income | 7.39 | 9.26 | 6.16 | 44.31 |
| Total Revenue | 549.36 | 533.98 | 654.62 | 2,292.48 |
| Total Expenses | 408.20 | 421.86 | 490.72 | 1,756.30 |
| Profit before tax | 141.16 | 112.12 | 163.90 | 536.18 |
| Tax Expense (Income + Deferred) | 36.97 | 27.97 | 40.86 | 130.93 |
| Net Profit after tax | 104.19 | 84.15 | 123.04 | 405.25 |
| Total Comprehensive Income | 104.11 | 84.01 | 123.09 | 404.92 |
| EPS (Basic & Diluted) | 10.05 | 8.12 | 11.87 | 39.09 |
| Particulars | Q1 FY26 (Jun 30, 2025) | Q1 FY25 (Jun 30, 2024) | Q4 FY25 (Mar 31, 2025) | FY25 (Apr 1, 2024 - Mar 31, 2025) |
|---|
| Standalone | | | | |
| Revenue from operations | 542.26 | 524.72 | 648.45 | 2,248.10 |
| Other Income | 7.30 | 9.26 | 6.14 | 44.29 |
| Total Revenue | 549.56 | 533.98 | 654.59 | 2,292.39 |
| Total Expenses | 398.09 | 419.62 | 485.22 | 1,744.16 |
| Profit before tax | 151.47 | 114.36 | 169.37 | 548.23 |
| Tax Expense (Income + Deferred) | 38.69 | 28.35 | 41.80 | 133.00 |
| Net Profit after tax | 112.78 | 86.01 | 127.57 | 415.23 |
| Total Comprehensive Income | 112.70 | 85.88 | 127.62 | 414.90 |
| EPS (Basic & Diluted) | 10.88 | 8.30 | 12.31 | 40.05 |
Margins (Calculated)
| Metric | Q1 FY26 (Consol) | Q1 FY25 (Consol) | Q4 FY25 (Consol) | FY25 (Consol) |
|---|
| EBITDA (PBT + Depreciation + Finance Cost) | 167.08 (141.16 + 25.55 + 0.37) | 134.93 (112.12 + 21.36 + 0.45) | 186.78 (163.90 + 22.52 + 0.16) | 625.23 (536.18 + 88.53 + 0.52) |
| EBITDA Margin (%) | 30.4% | 25.3% | 28.5% | 27.3% |
| Net Profit Margin (%) | 19.2% | 16.0% | 18.9% | 18.0% |
| Metric | Q1 FY26 (Standalone) | Q1 FY25 (Standalone) | Q4 FY25 (Standalone) | FY25 (Standalone) |
|---|
| EBITDA (PBT + Depreciation + Finance Cost) | 173.12 (151.47 + 21.28 + 0.37) | 136.37 (114.36 + 19.56 + 0.45) | 189.71 (169.37 + 20.18 + 0.16) | 629.50 (548.23 + 80.75 + 0.52) |
| EBITDA Margin (%) | 31.5% | 25.5% | 28.9% | 27.5% |
| Net Profit Margin (%) | 20.5% | 16.1% | 19.5% | 18.1% |
3. Detailed Notes / Management Commentary
- The company operates in a single primary business segment: Manufacturing of Chemicals. No segmental breakdown is provided.
- The results have been prepared in accordance with Indian Accounting Standards (Ind AS).
- The figures for Q4 FY25 are balancing figures between audited full year and year-to-date figures.
- No exceptional items reported in any period.
- No changes in accounting policies or material adjustments mentioned.
- No commentary on NPAs, slippages, or AUM as this is a manufacturing company.
- The auditors have issued unqualified limited review reports for both standalone and consolidated results.
- The foreign subsidiary’s results are immaterial to the group.
- No mention of any caveats or contingencies.
4. Segment Information
- The company confirms single business segment: Manufacturing of Chemicals.
- No geographical or product-wise segmental data provided.
5. Capex, Projects, and Corporate Activity
- No explicit information provided on:
- Capital expenditure (planned or executed)
- Ongoing or planned projects
- Writedowns, writebacks, impairments, or provisions
- Acquisitions, disposals, divestitures, or mergers
- Restructuring efforts, cost-cutting measures, or strategic shifts
6. Standalone vs Consolidated
- Both Standalone and Consolidated financial results are provided.
- The consolidated results include two wholly owned subsidiaries:
- Veeral Organics Private Limited
- Vinati Organics USA Inc (foreign subsidiary with immaterial results)
- Standalone and consolidated results are broadly similar in trends and magnitude.
- Standalone net profit for Q1 FY26 is Rs. 112.78 crores vs consolidated Rs. 104.19 crores.
- Standalone EPS (Basic & Diluted) for Q1 FY26 is Rs. 10.88 vs consolidated Rs. 10.05.
Summary for Investment Analysis Team
| Aspect | Key Points |
|---|
| Auditor’s Note | Unqualified limited review reports for both standalone and consolidated results. No issues. |
| Financial Performance | Q1 FY26 revenue up ~3.3% YoY (Consol), net profit up ~23.8% YoY; strong EBITDA margin expansion. |
| FY25 shows robust full-year growth with net profit Rs. 405.25 cr (Consol), EPS 39.09. |
| Standalone results slightly better than consolidated. |
| Margins | EBITDA margin improved to ~30.4% in Q1 FY26 (Consol) from 25.3% in Q1 FY25; net margin ~19.2%. |
| Segment | Single segment: Manufacturing of Chemicals. No segmental or geographic splits. |
| Accounting / Policies | No changes or material adjustments reported. Prepared under Ind AS. |
| Corporate Activity | No disclosures on capex, projects, M&A, impairments, or restructuring. |
| Subsidiaries | Two wholly owned subsidiaries included; foreign subsidiary immaterial. |
Actionable Insights:
- The company shows healthy revenue and profit growth with improving margins in Q1 FY26.
- No red flags or auditor concerns.
- Lack of segmental or project details limits deeper operational insight.
- Monitor future disclosures for capex or strategic initiatives.
- EPS growth and margin expansion support positive earnings momentum.
End of analysis.