Meghmani Organics Reports Q3 FY26 Revenue of ₹484.9 Crore; EBITDA at ₹51.5 Crore
03 February 2026, Mumbai: Meghmani Organics Limited announced its standalone financial results for the third quarter ended 31 December 2025 (Q3 FY26).
Q3 FY26 Standalone Performance
During Q3 FY26, revenue from operations stood at ₹484.9 crore, registering a decline of 13% year-on-year. EBITDA for the quarter was ₹51.5 crore compared to ₹60.4 crore in the corresponding quarter of the previous year.
The Crop Protection segment accounted for approximately 79% of the company’s total revenue during the quarter. Segment revenue stood at ₹382.1 crore, while EBITDA was ₹58.3 crore. Capacity utilisation for the segment was 66%, with production at 9,283 metric tonnes, reflecting a year-on-year decline of 14%.
The Pigments segment contributed around 21% of the overall revenue in Q3 FY26. Revenue for the segment stood at ₹102.8 crore, with EBITDA of ₹0.7 crore. Capacity utilisation was 38%, and production stood at 3,144 metric tonnes, down 21% year-on-year.
9M FY26 Performance
For the nine months ended 31 December 2025 (9M FY26), revenue from operations stood at ₹1,635.2 crore, compared to ₹1,501.8 crore in the corresponding period of the previous year, reflecting a growth of 9% year-on-year. EBITDA for the period increased to ₹202.5 crore, up from ₹115.8 crore in the corresponding previous period, marking a 75% year-on-year growth.
Management Commentary
Commenting on the Q3 FY26 performance, Ankit Patel, Chairman and Managing Director, said that export volumes during the quarter were impacted by softer demand amid continued uncertainty surrounding US trade policy. This led to lower capacity utilisation across both segments, which affected revenue and profitability for the quarter.
He added that in the Crop Nutrition segment, the company is conducting field trials across seven countries and is actively developing new international markets for Meghmani Nano Urea. Sample consignments are being dispatched for further field evaluations, while efforts are underway to expand the product portfolio to strengthen the company’s market position.
On Titanium Dioxide (TiO₂), he stated that profitability remained under pressure due to higher raw material costs and weaker price realisation. Price realisation was further affected following the withdrawal of anti-dumping duty. The company expects raw material prices to normalise in the coming quarters and anticipates that the re-imposition of anti-dumping duty could improve market conditions going forward.
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