Polyester maker Indo Rama Synthetics (India) Ltd has delivered a sharp jump in profitability in the September quarter, with consolidated profit after tax (PAT) soaring 201.8% year-on-year to Rs 74.1 crore, while EBITDA surged 46.4% to Rs 117.7 crore.
The integrated polyester manufacturer reported total income of Rs 1,344 crore in Q2FY27, up 10% from Rs 1,222.4 crore in the year-ago quarter. Revenue also climbed 43% sequentially from Rs 940.2 crore in Q1FY27, reflecting a strong quarter-on-quarter recovery.
Margins strengthened alongside the growth in earnings. EBITDA margin expanded to 8.8% from 6.6% a year earlier, while PAT margin improved to 5.5% from 2%.
The company’s performance comes amid a volatile operating environment, with geopolitical tensions in the Middle East pushing up crude oil prices and increasing raw material costs across the polyester value chain.
Despite the strong September-quarter showing, Indo Rama’s first-half performance reflected the impact of supply-chain disruptions and geopolitical uncertainty.
For H1FY27, consolidated total income stood at Rs 2,284.2 crore, down 9.7% from Rs 2,530.9 crore in the corresponding period last year.
Profitability, however, improved significantly. EBITDA rose 24.9% year-on-year to Rs 225.7 crore, while PAT increased 78.3% to Rs 137.8 crore. EBITDA margin widened to 9.9% from 7.1%, and PAT margin climbed to 6% from 3.1%.
Earnings before interest and tax (EBIT) also strengthened, rising 77% year-on-year to Rs 102.9 crore in Q2FY27. For the first half, EBIT grew 40.1% to Rs 196 crore.
Indo Rama plans to invest approximately Rs 200 crore over the next 12–18 months to diversify into specialty fibre and filament products, as it looks to expand its value-added portfolio and strengthen its long-term growth prospects.
Commenting on the results, Chairman and Managing Director Om Prakash Lohia said, “During Q2 FY27, we delivered a strong performance, with revenue from operations improving despite a challenging operating environment. Geopolitical developments in the Middle East led to an increase in crude oil prices, resulting in higher raw material costs and continued volatility across the polyester value chain.
"During the quarter, we reported consolidated total income of 1344.0 crore, EBITDA of X117.7 crore with an EBITDA margin of 8.8%, and PAT of X74.1 crore. For H1 FY27, consolidated total income stood at X2284.2 crore, EBITDA at X225.7 crore with a margin of 9.9%, while PAT stood at ¥137.8 crore.
"Looking ahead, we remain focused on further strengthening our operating and financial performance. As part of our growth strategy, we plan to invest approximately X200 crore over the next 12—18 months to diversify in specialty fibre and filament products. This investment is expected to broaden our product portfolio, increase our participation in value-added segments and support sustainable growth over the medium term.”
