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33 announcements match the current filters (relevance ≥ 5).
Stallion India Q1 FY27: PAT surges 79% to ₹18.57 Cr, Bhilwara R-32 Plant on Track for Dec 2026
Stallion India Fluorochemicals reported Q1 FY27 revenue of ₹124.68 Cr (+12.78% YoY), with EBITDA surging 75.85% to ₹25.27 Cr and PAT growing 79.15% to ₹18.57 Cr. Margin expansion was driven ~50% by favourable inventory positioning and better product mix. The 1,200 MTPA Khalapur helium processing plant is set for commercialization in Q2 FY27, while the 10,000 MTPA Bhilwara R-32 manufacturing facility is targeted for completion by December 2026. Management reiterated a 30-35% 3-year revenue CAGR guidance with expected medium-term EBITDA margin improvement of 3-4%.
Confidence: HIGH
What changedEarnings call transcript released detailing Q1 FY27 operational metrics and status updates for Khalapur, Mambattu, and Bhilwara capex projects.
Why it mattersBackward integration into R-32 and entry into high-purity helium for semiconductor/defense sectors are pivotal to sustaining management's targeted 30-35% CAGR and higher margins.
Q1 FY27 Revenue: ₹124.68 CrQ1 FY27 EBITDA: ₹25.27 CrQ1 FY27 PAT: ₹18.57 CrKhalapur Helium Capacity: 1,200 MTPABhilwara R-32 Capacity: 10,000 MT
📅 Short termSolid Q1 operational performance; Q2 performance will benefit from initial dispatches from the newly commercialized Khalapur helium unit.
📈 Long termCommissioning of the Bhilwara R-32 facility by late 2026 will transform the company into an integrated manufacturer, cutting import reliance and expanding margin profile.
⚠ Risk flags
- Management noted ~50% of Q1 EBITDA gains came from one-off inventory/stock positioning during supply disruptions
- Potential industry oversupply as domestic R-32 capacities (70,000-90,000 tons) exceed current domestic demand (20,000 tons), requiring heavy export dependence
Key Highlights
Q1 FY27 revenue grew 12.78% YoY to ₹124.68 Cr; PAT surged 79.15% YoY to ₹18.57 Cr
Khalapur 1,200 MTPA high-purity helium plant to start commercial ops next quarter with an expected ~12% revenue contribution
Bhilwara 10,000 MT R-32 plant completion targeted for end-December 2026
Management maintained 3-year revenue CAGR guidance of 30-35% and 3-4% medium-term EBITDA margin expansion
👀 What to Watch
Track the commercialization timeline of the Khalapur helium unit in Q2 FY27 and commissioning progress of the 10,000 MT Bhilwara R-32 facility by December 2026.
Stallion India Outlines ₹200 Cr HFO Expansion & 1,200 MTPA Helium Capacity in Investor Presentation
Stallion India Fluorochemicals published its strategic roadmap detailing operational progress and future expansions. The company announced that its 1,200 MTPA high-purity helium processing facility at Khalapur is completed and ready for commercial operations, supported by a long-term sourcing tie-up with Sharjah Oxygen Company. Additionally, it signed an MoU with the Government of Rajasthan for a proposed ~₹200 Crore HFO plant at Bhilwara with construction expected by late 2027. Together with the ongoing 10,000 MT R-32 facility and the upcoming Mambattu plant (end-2026), management expects medium-term EBITDA margins to expand by 3–4%.
Confidence: HIGH
What changedStallion detailed execution timelines for its completed 1,200 MTPA helium processing capacity and outlined a ₹200 Cr HFO capex roadmap.
Why it mattersBackward integration into R-32 and entry into specialty/semiconductor gases (high-purity helium and HFOs) target a 3-4% margin improvement and reduce import reliance.
Proposed HFO Capex: ~₹200 CroreHFO Capex vs Net Worth: ~29.4%Helium Processing Capacity: 1,200 MTPABhilwara R-32 Capacity: 10,000 MTTargeted EBITDA Margin Improvement: 3–4%
📅 Short termProvides positive sentiment regarding execution progress at Khalapur and Mambattu, though revenue impact will phase in gradually.
📈 Long termSubstantial capacity expansions across R-32, HFOs, and high-purity specialty gases position the company to capture growing semiconductor, refrigeration, and electronics demand.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Project execution and commissioning delays for Bhilwara R-32 and HFO units
- Regulatory and import quota dependencies for feedstocks
- Handling and safety risks associated with flammable specialty gases
Key Highlights
Completed Khalapur facility ready to commence commercial operations for high-purity helium with 1,200 MTPA capacity
Signed MoU with Rajasthan Government for a proposed ~₹200 Crore HFO manufacturing plant on already acquired land
Advancing 10,000 MT R-32 greenfield manufacturing unit at Bhilwara (Environmental Clearance received)
Upcoming Mambattu facility scheduled to commence commercial operations by end-2026
Specialty gas expansions and backward integration projected to improve medium-term EBITDA margins by 3–4%
👀 What to Watch
Track commercial ramp-up milestones of the 1,200 MTPA Khalapur helium unit and commissioning progress of the Mambattu and Bhilwara R-32 facilities in FY27.
Q1 FY27 PAT Surges 79.2% YoY to ₹18.57 Cr; Revenue Up 12.8% to ₹124.68 Cr
Stallion India Fluorochemicals reported a 79.15% YoY surge in PAT to ₹18.57 crore for Q1 FY27, driven by strong operational performance and higher-margin product scaling. Total revenue rose 12.78% YoY to ₹124.68 crore, while EBITDA jumped 75.85% YoY to ₹25.27 crore. Operationally, the company completed preparations for its 1,200 MT/annum high-purity helium processing facility at Khalapur, which is set to commence commercial operations in Q2 FY27. Ongoing expansions at Mambattu and the 10,000 MT R-32 plant at Bhilwara remain on track for completion by December 2026.
Confidence: HIGH
What changedStallion delivered sharp margin expansion in Q1 FY27 and announced completion of its Khalapur helium processing unit alongside an active tender bid with ISRO.
Why it mattersThe transition toward high-purity specialty gases (helium) and backward integration via R-32 manufacturing is structurally designed to expand EBITDA margins by 3–4% over the medium term.
Q1 FY27 Revenue: ₹124.68 CrQ1 FY27 PAT: ₹18.57 CrQ1 FY27 EBITDA: ₹25.27 CrYoY PAT Growth: 79.15%Khalapur Helium Capacity: 1,200 MT per annumBhilwara R-32 Capacity: 10,000 MT per annum
📅 Short termStrong operational momentum and margin expansion in Q1 FY27 are likely to support positive sentiment in the near term.
📈 Long termBackward integration into R-32 and entry into niche high-purity gases (helium for semiconductors/space) align with management's 3-year revenue CAGR target of 30–35%.
⚠ Risk flags
- Execution delays in commissioning the Bhilwara R-32 facility beyond December 2026
- Dependence on government-mandated import quotas for restricted refrigerant gases
- Uncertainty regarding win conversion in large customer tenders such as ISRO
Key Highlights
Q1 FY27 PAT increased by 79.15% YoY to ₹18.57 crore compared to ₹10.36 crore in Q1 FY26
EBITDA grew 75.85% YoY to ₹25.27 crore with total revenue rising 12.78% YoY to ₹124.68 crore
Completed 1,200 MT per annum high-purity helium processing facility at Khalapur; commercial operations starting in Q2 FY27
Participated in a large ISRO tender for long-term helium recovery and liquefaction solutions
10,000 MT per annum R-32 plant in Bhilwara targeted for completion by December 2026
👀 What to Watch
Track the commercialization timeline of the Khalapur helium facility in Q2 FY27 and commissioning milestones for the Bhilwara R-32 plant by December 2026.
79% YoY PAT Growth to ₹18.57 Cr in Q1 FY27; Revenue up 9.7%
Stallion India Fluorochemicals reported a strong start to FY27 with net profit rising 79% YoY to ₹18.57 Cr, driven by significant margin expansion. Revenue from operations grew 9.7% YoY to ₹121.45 Cr, while total expenses remained nearly flat at ₹96.66 Cr. The company has successfully utilized ₹26.62 Cr of IPO proceeds for land acquisition at Khalapur for its semiconductor and specialty gas facility. This performance reflects improved operational efficiency and a potential shift toward higher-margin specialty gas segments.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results and updated the utilization of IPO proceeds, specifically highlighting the acquisition of land for semiconductor gas facilities.
Why it mattersThe sharp increase in profitability despite modest revenue growth suggests a significant improvement in product mix or cost management. The entry into semiconductor gases represents a move into a high-value, high-growth vertical.
Revenue (Q1 FY27): ₹121.45 CrNet Profit (Q1 FY27): ₹18.57 CrYoY PAT Growth: 79%IPO Funds for Khalapur Land: ₹26.62 CrNet Worth: ₹699.18 Cr
📅 Short termThe stock may react positively to the substantial jump in net profit and the successful deployment of IPO capital into expansion projects.
📈 Long termLong-term value depends on the successful backward integration through the R-32 plant and the company's ability to capture market share in the specialized semiconductor and solar cell gas segments.
⚠ Risk flags
- Dependency on government-mandated import quotas for refrigerant gases
- Execution risk in the newly entered semiconductor gas vertical
Key Highlights
Net profit surged 79% YoY to ₹18.57 Cr for the quarter ended June 30, 2026, up from ₹10.37 Cr.
Revenue from operations increased 9.7% YoY to ₹121.45 Cr compared to ₹110.68 Cr in the same period last year.
Total expenses were contained at ₹96.66 Cr, slightly lower than the ₹96.68 Cr reported in Q1 FY26 despite higher sales.
Utilized ₹26.62 Cr for land acquisition at Khalapur, Maharashtra, for semiconductor and specialty gas facilities.
Earnings Per Share (EPS) improved to ₹1.60 from ₹1.15 in the year-ago quarter.
👀 What to Watch
Investors should monitor the commissioning status of the Bhilwara R-32 plant (expected July 2026) and the progress of the Mambattu facility, as these are key drivers for the projected ₹500 Cr annual revenue growth.
Stallion India Shareholders Approve Variation in IPO Proceeds Usage with 99.99% Majority
Stallion India Fluorochemicals Limited has received shareholder approval via a special resolution to vary the objects of its IPO proceeds. The resolution was passed with an overwhelming majority, with 99.9887% of the 73.57 million votes cast in favor. This regulatory move allows the company to reallocate funds raised during its Initial Public Offering to different purposes than originally stated. The voting process concluded on May 30, 2026, and the results were officially certified by the scrutinizer on June 3, 2026.
Key Highlights
Special resolution passed for variation in terms of objects of the issue (IPO proceeds).
Total of 73,568,176 votes (99.99%) cast in favor of the resolution.
Only 8,331 votes (0.01%) were cast against the proposal.
Voting was conducted via remote e-voting for 66,507 shareholders on record as of April 24, 2026.
The resolution was passed with the requisite majority as per the Companies Act, 2013.
👀 What to Watch
Investors should investigate the specific details of the 'variation' to understand how the capital is being redirected and if the new allocation aligns with long-term growth strategies. While the high approval suggests management confidence, a shift in IPO fund usage requires close monitoring of future capital expenditure efficiency.
Stallion India Reports 35.6% PAT Growth in FY26; Targets ₹100 Cr PAT for FY27
Stallion India Fluorochemicals reported a strong FY26 with revenue growing 14.4% to ₹434.12 crore and PAT rising 35.6% to ₹43.84 crore. The management has guided for a robust 30-35% revenue CAGR over the next three years, driven by significant capacity expansions and backward integration. A key growth driver is the upcoming R-32 manufacturing facility in Bhilwara, expected to commence production by October 2026 and contribute over ₹250 crore in revenue. For FY27, the company aims to nearly double its PAT to approximately ₹100 crore as new facilities in Mumbattu and Khalapur also become operational.
Key Highlights
FY26 Revenue grew 14.4% YoY to ₹434.12 crore, while PAT surged 35.6% to ₹43.84 crore.
Management projects a 30-35% revenue CAGR and 3-4% margin expansion over the next three years.
The 10,000 MT R-32 facility in Bhilwara is on track for October 2026 commissioning with high margin potential.
Mumbattu facility has been scaled up 2.5x and is expected to be operational by August 2026.
Management clarified that promoter shareholding dilution was due to rights issue pricing adjustments rather than a lack of participation.
👀 What to Watch
Investors should focus on the execution and timely commissioning of the Bhilwara R-32 plant in October 2026, which is critical for achieving the ₹100 crore PAT target. The company's transition from trading/blending to manufacturing suggests significant margin upside in the medium term.
Stallion India to Invest ₹200Cr in HFO Plant; Targets 3-4% Margin Expansion
Stallion India Fluorochemicals is executing a major strategic expansion, including a proposed ₹200 crore HFO manufacturing plant in Bhilwara and a 10,000 MT R-32 facility. The company is diversifying into high-value segments like liquid helium with a 1,200 MTPA processing capacity and specialty gases for the semiconductor and electronics industries. With four existing facilities and two more under development, the company aims for a pan-India presence and a 3-4% improvement in profit margins through backward integration. These initiatives leverage a strong distribution network serving over 200 customers across 15+ industry segments.
Key Highlights
Proposed investment of ~₹200 Crore for a new Hydrofluoroolefin (HFO) manufacturing plant in Bhilwara.
Received Environmental Clearance for a 10,000 MT R-32 manufacturing facility to enhance backward integration.
Establishing 1,200 MTPA liquid helium processing capacity via a strategic sourcing partnership with Sharjah Oxygen Company.
Expanding operational footprint from 4 to 6 facilities, including new sites at Mambattu and Khalapur.
Strategic pivot into high-purity gases for semiconductors and solar cells, expected to boost margins by 3-4%.
👀 What to Watch
Investors should track the construction milestones of the Bhilwara and Mambattu facilities as they are critical for the projected margin expansion. The company's entry into the semiconductor gas supply chain offers a high-growth narrative that could lead to a valuation re-rating.
Stallion India Reports 35.6% PAT Growth in FY26; Targets 30-35% Revenue CAGR
Stallion India Fluorochemicals reported a strong FY26 performance with Profit After Tax (PAT) rising 35.61% YoY to ₹43.84 crores. Total revenue grew 14.40% to ₹434.12 crores, meeting management's topline projections despite global supply chain disruptions. The company is aggressively expanding with a new 10,000 MT R-32 manufacturing facility in Rajasthan expected to commence by October 2026. Management has provided a robust outlook, targeting a 30-35% revenue CAGR and 3-4% margin expansion over the next three years.
Key Highlights
FY26 PAT increased by 35.61% YoY to ₹43.84 crores, with EPS rising to ₹5.34.
Annual EBITDA grew 23.34% to ₹61.35 crores, reflecting improved operational efficiency.
The 10,000 MT R-32 manufacturing project in Bhilwara has received environmental clearance and is on track for October 2026.
Management issued a 3-year guidance of 30-35% revenue CAGR and 3-4% margin improvement.
Total Revenue for FY26 stood at ₹434.12 crores, a 14.40% increase over the previous fiscal year.
👀 What to Watch
Investors should focus on the timely execution of the R-32 facility which marks a significant shift toward backward integration. The aggressive 3-year growth guidance makes this a high-growth stock to watch in the specialty chemicals and industrial gas space.
Stallion India FY26 Net Profit Grows 30% to ₹32.12 Cr; Annual Revenue Up 14%
Stallion India Fluorochemicals reported a strong full-year performance for FY26, with net profit growing 29.8% to ₹32.12 crore compared to ₹24.74 crore in FY25. Annual revenue from operations increased by 14.2% to ₹430.68 crore, driven by steady demand. While Q4 FY26 revenue showed a year-on-year decline from ₹151.57 crore to ₹111.00 crore, sequential performance improved from Q3. The company's cash position has significantly strengthened, ending the year with ₹212.47 crore in cash and equivalents.
Key Highlights
Annual Net Profit increased by 29.8% YoY to ₹32.12 crore in FY26.
Full-year Revenue from Operations grew 14.2% to ₹430.68 crore vs ₹377.15 crore in FY25.
Cash and cash equivalents surged to ₹212.47 crore from ₹58.94 crore in the previous year.
Q4 FY26 PAT stood at ₹10.48 crore, a sequential increase from ₹8.22 crore in Q3 FY26.
Board approved the appointment of Ms. Swati Ghosh as an Independent Director for a 5-year term.
👀 What to Watch
Investors should view the strong annual profit growth and significantly improved liquidity position as positive indicators of financial health. Monitor the company's utilization of its high cash reserves for future expansion or debt reduction.
Stallion India Seeks Shareholder Approval to Vary Utilization of IPO Proceeds
Stallion India Fluorochemicals has issued a postal ballot notice to seek shareholder approval for a variation in the objects of its IPO proceeds. The company originally outlined specific uses for the funds in its January 2025 prospectus but now intends to reallocate these funds. The voting period for this special resolution runs from May 1 to May 30, 2026. This move requires a special resolution, indicating a significant shift in the company's capital allocation strategy.
Key Highlights
Special Resolution proposed to vary terms of objects of the IPO issue (Prospectus dated Jan 21, 2025)
Remote e-voting period scheduled from May 1, 2026, to May 30, 2026
Cut-off date for shareholder eligibility is April 24, 2026
Final results of the postal ballot to be announced on or before June 6, 2026
👀 What to Watch
Investors should review the detailed explanatory statement to understand the rationale for reallocating IPO funds. Monitor the new utilization plan to ensure it aligns with the company's growth strategy.
Stallion India to Reallocate IPO Proceeds and Announces Board Resignation
Stallion India Fluorochemicals Limited has proposed a variation in the utilization of its IPO proceeds, originally outlined in its January 21, 2025, prospectus. The Board has approved the reallocation of unutilized funds, which now requires shareholder approval via a postal ballot. The cut-off date for determining eligible voters for this process is April 24, 2026. Additionally, the company announced the resignation of Independent Director Mr. Gautam Lath.
Key Highlights
Proposed variation and reallocation of unutilized IPO proceeds from the January 21, 2025, Prospectus.
Shareholder approval via postal ballot is required for the change in fund utilization terms.
April 24, 2026, established as the cut-off date for the postal ballot and remote e-voting.
Resignation of Mr. Gautam Lath from the post of Independent Director was formally noted.
👀 What to Watch
Investors should carefully review the upcoming postal ballot notice to understand the specific reasons for diverting IPO funds and how the new allocation will impact future growth.
Stallion India Allots 3.67 Cr Equity Shares via Rights Issue at Rs 99 Per Share
Stallion India Fluorochemicals has successfully completed the allotment of 3,67,60,483 equity shares through a Rights Issue. The shares were issued at a price of Rs 99 per share (including premium) in a ratio of 19:41 to eligible shareholders. This allotment increases the company's total paid-up equity capital to Rs 116.09 crore, comprising 11,60,85,737 shares. The company also issued a correction to clarify that the face value of the shares is Rs 10, not Re 1 as previously stated.
Key Highlights
Allotment of 3,67,60,483 fully paid-up equity shares at an issue price of Rs 99 per share
Rights issue ratio maintained at 19 shares for every 41 shares held as of February 11, 2026
Post-allotment paid-up capital increased to 11,60,85,737 equity shares
Total value of the paid-up equity capital now stands at Rs 1,16,08,57,370
Clerical error corrected to confirm the face value of equity shares as Rs 10.00 each
👀 What to Watch
Investors should note the expansion in the equity base and monitor the company's deployment of the raised funds for growth. The successful completion of the rights issue at Rs 99 suggests reasonable market appetite for the company's equity.
Stallion India Allots 3.67 Crore Equity Shares via Rights Issue at Rs 99 Per Share
Stallion India Fluorochemicals has successfully completed the allotment of 3,67,60,483 equity shares following its Rights Issue. The shares were issued at a price of Rs 99 per share (including premium) in a ratio of 19:41 to eligible shareholders. This allotment has significantly expanded the company's paid-up equity capital to 11,60,85,737 shares. The completion of this exercise marks a major capital infusion for the company's balance sheet.
Key Highlights
Allotment of 3,67,60,483 fully paid-up equity shares with a face value of Rs 10 each
Issue price set at Rs 99 per equity share, including the share premium
Rights entitlement ratio maintained at 19 shares for every 41 shares held as of the record date
Total paid-up equity share capital increased to Rs 116.09 crore post-allotment
Lapsed rights entitlements have been extinguished and the specific ISIN deactivated
👀 What to Watch
Investors should note the equity dilution resulting from the increased share base and monitor the company's upcoming quarterly results for the impact on Earnings Per Share (EPS). The successful fundraising provides capital for growth but requires efficient deployment to maintain return on equity.
Stallion India Gets Land Approval for ₹200 Cr HFO Plant; Total Land Bank Reaches 1.22 Lakh Sq Mtrs
Stallion India Fluorochemicals has received RIICO approval for a 53,369 sq. mtr land allotment in Rajasthan, bringing its total contiguous land bank at the site to 122,543 sq. mtrs. The company plans to invest approximately ₹200 crore in a new Hydrofluoroolefin (HFO) manufacturing facility, with construction scheduled to begin in 2027. This expansion follows the ongoing R-32 project, which is targeted for commissioning by October 2026. Management has reiterated a strong revenue CAGR guidance of 30-35% over the next three years, supported by these strategic manufacturing initiatives.
Key Highlights
Acquisition of 53,369 sq. mtrs of land creates a massive 1.22 lakh sq. mtr contiguous manufacturing hub for operational synergies.
Planned investment of ₹200 crore for the HFO facility focusing on low-global-warming-potential refrigerant technologies.
Project eligible for RIPS-2024 incentives which could cumulatively cover up to 100% of eligible fixed capital investment.
Management targets a 30-35% revenue CAGR over the next three years driven by phased capacity expansions.
👀 What to Watch
Investors should monitor the timely commissioning of the R-32 project in late 2026 as a key milestone before the larger HFO investment begins. The stock remains a growth play in the specialty chemicals sector with significant government subsidy tailwinds.
Stallion India Fluorochemicals to Raise ₹363.93 Cr via Rights Issue at ₹99 per Share
Stallion India Fluorochemicals has finalized the Letter of Offer for a Rights Issue worth approximately ₹363.93 crores. The company plans to issue up to 3.67 crore equity shares at a price of ₹99 per share, which includes a premium of ₹89. Eligible shareholders as of the record date, February 11, 2026, can participate in a ratio of 19 rights shares for every 41 shares held. The issue is scheduled to open on February 20, 2026, and will close on February 27, 2026.
Key Highlights
Total issue size of up to 3,67,60,483 equity shares aggregating to ₹363.93 crores
Issue price fixed at ₹99 per share, which is 9.9 times the face value of ₹10
Rights entitlement ratio set at 19:41 for shareholders as of the February 11, 2026 record date
Issue period runs from February 20 to February 27, 2026, with market renunciation ending February 23
Expected listing date for the new rights equity shares is March 5, 2026
👀 What to Watch
Eligible shareholders should compare the ₹99 issue price with the current market price to determine if exercising rights is beneficial. Those not intending to subscribe should sell their rights entitlements (REs) by February 23 to avoid total value loss from dilution.
Stallion India Fluorochemicals Announces Rights Issue Schedule; Opens Feb 20, 2026
Stallion India Fluorochemicals has finalized the timeline for its Rights Issue following a board meeting on February 12, 2026. The issue is scheduled to open for subscription on February 20, 2026, and will close on February 27, 2026. The record date for determining eligible shareholders was February 11, 2026. The company has secured a specific ISIN (INE0RYC20010) for the credit and trading of Rights Entitlements.
Key Highlights
Rights Issue opening date set for February 20, 2026, and closing on February 27, 2026
Record date for eligibility was Wednesday, February 11, 2026
Last date for On-Market Renunciation of Rights Entitlements is February 23, 2026
ISIN for Rights Entitlement (RE) is INE0RYC20010
Bigshare Services Private Limited appointed as the Registrar to the Issue
👀 What to Watch
Eligible shareholders should monitor their demat accounts for Rights Entitlements and decide to either subscribe to the issue or sell their entitlements by February 23 to avoid value loss. Non-shareholders can look to purchase REs on the market if they wish to participate in the capital raise.
Stallion India to Benefit from RIPS 2024 Subsidies for Bhilwara R-32 Plant
Stallion India Fluorochemicals has announced that its upcoming greenfield R-32 manufacturing facility in Bhilwara, Rajasthan, will receive significant fiscal incentives under the Rajasthan Investment Promotion Scheme (RIPS) 2024. The benefits include capital subsidies, 75% SGST exemptions, and 100% electricity duty exemption for seven years, which are expected to significantly enhance project viability and cash flows. Additionally, the company has signed an MOU for a future HFO plant that will also qualify for similar subsidies. Management has reiterated its three-year revenue CAGR guidance of 30-35% based on these expansions.
Key Highlights
Eligible for RIPS 2024 incentives including capital subsidies and 75% SGST exemptions for the Bhilwara plant.
100% electricity duty exemption for 7 years and 75% stamp duty exemption/25% reimbursement.
Reimbursement of 50% of employer’s EPF and ESI contributions for 7 years for state-domiciled employees.
Management maintains a confident three-year revenue CAGR guidance of 30-35%.
Future HFO plant under MOU with Rajasthan government will also receive similar fiscal benefits.
👀 What to Watch
Investors should view this as a positive development that will lower the cost of capital and improve the internal rate of return (IRR) for new projects. Monitor the commencement date of the Bhilwara plant as the 10-year incentive period begins from the start of commercial production.
Stallion India Signs ₹200 Cr MoU with Rajasthan Govt for HFO Manufacturing Plant
Stallion India Fluorochemicals has signed a Memorandum of Understanding (MoU) with the Government of Rajasthan to invest approximately ₹200 crore in a new Hydrofluoroolefin (HFO) manufacturing facility in Bhilwara. This expansion is part of a phased growth strategy, following the R32 project which is slated for commissioning by October 2026. The company aims to start work on the HFO plant in 2027, focusing on sustainable, low-global-warming-potential refrigerants. Management has provided a strong growth guidance, targeting a revenue CAGR of 30-35% over the next three years.
Key Highlights
Proposed investment of ₹200 crore for a new HFO manufacturing facility in Bhilwara, Rajasthan
Targeting a revenue CAGR of 30-35% over the next three financial years
R32 project on track for commissioning by October 2026, with HFO plant work starting in 2027
Strategic shift towards advanced HFO refrigerants to ensure long-term competitiveness and sustainability
Expansion aligns with India's self-reliance goals in the specialty and fluorochemicals sector
👀 What to Watch
Investors should view this as a significant long-term growth driver that strengthens the company's position in the high-margin sustainable chemicals market. Monitor the successful commissioning of the R32 project in late 2026 as a key milestone before the HFO capex begins.
Stallion India Reports 72.8% PAT Growth in 9M FY26; Reaffirms FY26 Revenue Guidance of INR 430 Cr
Stallion India Fluorochemicals delivered a robust 9M FY26 performance with revenue growing 41.7% YoY to INR 321.18 crore and PAT surging 72.8% to INR 32.9 crore. The management has reaffirmed its full-year FY26 guidance of INR 430 crore revenue and INR 40 crore PAT, targeting a 30-35% CAGR over the next three years. While the Bhilwara R-32 plant is on track for August 2026, the Mambattu and Khalapur facilities have been re-engineered for higher capacity and are expected to start by Q4 FY26. Strategic tie-ups with SYS Advanced (Portugal) and Sharjah Oxygen (Dubai) are set to strengthen the company's position in the high-margin helium and semiconductor gas markets.
Key Highlights
9M FY26 PAT surged 72.8% YoY to INR 32.9 crore, while revenue reached INR 321.18 crore.
Management reaffirmed FY26 guidance of INR 430 crore revenue and INR 40 crore PAT with 30-35% CAGR target.
Environmental clearance received for 10,000 MTPA R-32 manufacturing facility at Bhilwara, Rajasthan.
Strategic technology tie-up with SYS Advanced (Portugal) and sourcing partnership with Sharjah Oxygen (Dubai) for helium.
Promoter sold 2% stake to provide interest-free funds for the R-32 plant after a planned preferential issue became unviable.
👀 What to Watch
Investors should focus on the timely commissioning of the Bhilwara R-32 plant in August 2026, which is critical for backward integration and margin expansion. The strong earnings momentum and clear growth guidance make this a positive outlook for long-term holders.
Stallion India Sets Feb 11 as Record Date for 19:41 Rights Issue
Stallion India Fluorochemicals Limited has officially fixed February 11, 2026, as the record date for its upcoming rights issue. The company will offer 19 new equity shares for every 41 existing shares held by eligible shareholders. This corporate action is intended to raise capital from existing investors to support the company's financial objectives. Shareholders must hold the stock before the record date to be eligible for the rights entitlement.
Key Highlights
Record date for the rights issue is fixed as Wednesday, February 11, 2026
Rights entitlement ratio is set at 19 equity shares for every 41 shares held
The issuance is being conducted under Regulation 42 of SEBI LODR Regulations
The move aims to raise equity capital from the existing shareholder base
👀 What to Watch
Investors should evaluate the rights issue price once disclosed against the current market price to decide on subscription. Existing shareholders need to hold the stock by the ex-date to receive rights entitlements.
