PRIVISCL

Financial & Operational Performance - Reported highest-ever Q2 total income of ₹773.16 Cr (up 13.9% YoY) and EBITDA of ₹212.49 Cr (up 16.66% YoY) with healthy EBITDA margin of 27.48%. - Q2 PAT reached ₹117.03 Cr (up 24.61% YoY); H1 PAT grew 29% to ₹201 Cr. - Declared first-ever interim dividend of ₹5 per equity share. - Working capital cycle improved to under 100 days from 124 days YoY; net debt stood at ₹814.51 Cr (Net debt-to-EBITDA at 1.07x). - PRIGIV JV achieved Q2 sales of ₹28 Cr with positive PBT of ~₹2 Cr, targeting ~₹225 Cr revenue in FY28. Management Guidance & Outlook - Reaffirmed 20% annual revenue growth guidance for FY27 and expects to sustain current EBITDA margin levels. - Confident on '5K:1K plus' vision to achieve ₹5,000 Cr revenue by 2030. - Expects additional state incentives of ₹12 Cr to ₹15 Cr in H2 FY27. Capex & Growth Drivers - Phase 1 capacity expansion completed, expanding total capacity from 48,000 MTPA to 54,000 MTPA. - Remaining capex of ~₹1,000 Cr allocated for Phase 2 & 3 out of total ₹1,400 Cr capex plan, with combined potential revenue of ~₹1,700-1,800 Cr. - Phase 2 (maltol, ethyl maltol, cyclopentanone) commissioning expected between June and September 2027, scaling commercial sales in H2 FY28. - Amalgamation of Privi Fine Sciences is on track to complete by FY27 end, unlocking potential revenue of ₹250-300 Cr from 6,000 MT capacity upon regulatory nod.