Amines & Plasticizers Limited (APL), one of India’s leading manufacturers of ethanolamines, alkanolamines, alkyl alkanolamines and gas-treating solvents, reported a 35% year-on-year (YoY) jump in consolidated net profit (PAT) to Rs 8.33 crore for the second quarter ended September 30, 2026.
Consolidated revenue for Q2FY27 climbed 13% YoY to Rs 149.84 crore, while EBITDA rose 22% to Rs 13.31 crore, reflecting the company's ability to sustain financial performance despite raw material supply constraints and a challenging operating environment.
For the half-year ended September 30, 2026, the company delivered a 10% YoY increase in consolidated revenue to Rs 300.36 crore. EBITDA grew 19% to Rs 28.45 crore, while PAT surged 31% to Rs 17.80 crore.
The quarterly performance comes against the backdrop of significant operational challenges, including restricted availability of key raw materials for more than a month, elevated gas costs and persistently high shipping and logistics expenses. The company, however, managed to cushion the impact by shifting production towards other products in its portfolio.
Commenting on the results, Hemant Kumar Ruia, Chairman and Managing Director, said: “Q2FY27 was a steady quarter for the Company. We kept our sales and profitability in line with the previous quarter despite a demanding operating environment. Supplies of our key raw material were limited for more than a month during the quarter.
"During that period we moved production towards other products in our portfolio, which allowed us to protect both revenue and margins. Supplies resumed in the later part of the quarter, and operations have remained steady since. The broader environment continues to present challenges, particularly in the availability and cost of gas and in elevated logistics costs.
"Shipping rates stayed high through the quarter. Our customers have worked closely with us to absorb the resulting rise in freight costs, which reflects the value they place on reliable supply in uncertain conditions. Demand from the Middle East has stayed resilient."
He added: "We continued to invest in research and development during the quarter, with work underway on new products in the ethoxylates and propoxylates categories. Initial commercial supplies of some of these products have begun to select multinational customers, and we see them as a meaningful avenue for future growth.
'We have also committed capital expenditure of approximately Rs 4 to 5 crore to upgrade our ethylene oxide storage and transportation infrastructure. The investment will further strengthen safety standards and keep us closely aligned with regulatory requirements. We have strong demand visibility and a healthy order book, which give us confidence in the Company’s ability to keep performing steadily through these uncertain times.
"For now our focus remains on running our operations efficiently and protecting our financial performance. As conditions ease, we intend to put capital into capacity and infrastructure that will support the next phase of growth. The resilience of the business over the past two quarters, together with the progress we have made on products and customers, leaves us well positioned for the opportunities ahead.”
Beyond its financial performance, APL is sharpening its focus on speciality chemicals and higher-value products to strengthen its growth pipeline.
The company continued research and development initiatives in the ethoxylates and propoxylates categories during the quarter. Initial commercial supplies of select new products have already commenced to multinational customers, opening up fresh opportunities for business expansion.
APL has also committed capital expenditure of approximately Rs 4-5 crore to upgrade its ethylene oxide storage and transportation infrastructure. The investment is aimed at strengthening operational safety and ensuring compliance with regulatory requirements.
Gas Treating Chemicals and Speciality Solvents accounted for 41.77% of Q2FY27 product revenue, while Alkanolamines and Alkyl Alkanolamines contributed 42.85%.
EO/PO-Based Speciality Products accounted for 9.16% of revenue, followed by Morpholine and Derivatives at 4.97% and Others at 1.25%.
With resilient demand from the Middle East, a healthy order book and initial commercial traction in new speciality products, APL is looking to sustain operational stability while preparing for its next phase of capacity and infrastructure-led growth.
