Andhra Petrochemicals Ltd (500012)
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Andhra Petrochemicals' revenue was ₹79.3 Cr (-44.7% year on year, +17.7% on the previous quarter), and net profit ₹1.4 Cr (against a loss a year earlier); the operating margin was 1.3%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹79.3 | -44.7% | +17.7% |
| Operating profit | ₹1.1 | from loss | from loss |
| Net profit | ₹1.4 | from loss | from loss |
| EPS (₹) | 0.16 | from loss | from loss |
| Operating margin | 1.3% | — | — |
📢 Recent Corporate Announcements
Andhra Petrochemicals has announced the appointment of Sri Gottipati Sree Venkateswara Prasad as Chairman of the Board effective October 12, 2026, for a term of three years. He fills the vacancy created by the demise of former Chairman Dr. Pamidi Kotaiah on July 23, 2026. The nomination was made by promoter company The Andhra Sugars Ltd pursuant to Article 116 of the Articles of Association. Sri Prasad is an existing Non-Executive & Independent Director and a former Executive Director at HPCL.
- Appointment of Sri G S V Prasad as Chairman effective from October 12, 2026
- Tenure specified for a period of 3 years
- Follows the passing of prior Chairman Dr. Pamidi Kotaiah on July 23, 2026
- Nominated by promoter entity M/s The Andhra Sugars Ltd under Article 116
Andhra Petrochemicals Ltd has submitted its 42nd Annual Report for FY 2025-26 pursuant to Regulation 34(1) of SEBI LODR. The Annual General Meeting (AGM) of the company is scheduled to take place on September 23, 2026, at Tanuku, Andhra Pradesh. The Register of Members and Share Transfer Books will remain closed from September 21, 2026, to September 23, 2026. The key agenda includes adoption of audited financial statements, director reappointments, and ratification of cost auditor remuneration.
- 42nd Annual General Meeting scheduled on Wednesday, September 23, 2026 at 3:00 p.m.
- Share transfer books and register of members closed from September 21, 2026 to September 23, 2026
- Cut-off date for e-voting eligibility set as September 18, 2026
- Ratification of cost auditor remuneration of Rs 2,00,000 plus applicable taxes for FY 2026-27 proposed
Andhra Petrochemicals reported a 90% YoY revenue decline to Rs 14.09 Cr for Q1 FY27, down from Rs 141.46 Cr in Q1 FY26. The company posted a net loss of Rs 3.25 Cr, which narrowed from a loss of Rs 8.42 Cr in the previous year's quarter, primarily due to reduced operating costs during a prolonged plant shutdown. The facility was non-operational from March 17, 2026, to August 4, 2026, due to feedstock (Propylene) supply disruptions and uneconomical pricing from its sole supplier, HPCL. While operations are set to resume, the company remains vulnerable to global feedstock pricing and geopolitical tensions.
- Revenue from operations plummeted 90% YoY to Rs 14.09 Cr from Rs 141.46 Cr.
- Plant remained shut for nearly the entire quarter (March 17 to August 4, 2026) due to non-supply of Propylene.
- Net loss for the quarter stood at Rs 3.25 Cr, supported by Other Income of Rs 6.60 Cr.
- HPCL offered a supply of 117 MT per day of Propylene from May 11, but management deemed the pricing uneconomical.
- Ongoing land lease litigation with Visakhapatnam Port Authority (VPA) remains unresolved following a November 2025 judgment.
Andhra Petrochemicals reported a severe 90% YoY decline in revenue to ₹14.09 Cr for the quarter ended June 30, 2026, as the plant remained shut for almost the entire period. The company recorded a net loss of ₹3.25 Cr, which narrowed from a loss of ₹8.42 Cr in the previous year's corresponding quarter, primarily due to reduced raw material consumption and other income of ₹6.60 Cr. The shutdown, lasting from March 17 to August 4, 2026, was caused by Propylene supply disruptions from HPCL and subsequent uneconomical pricing. While the plant is scheduled to resume operations after August 4, the high cost of feedstock remains a significant margin risk.
- Revenue from operations fell 90% YoY to ₹14.09 Cr from ₹141.46 Cr in June 2025.
- The plant was non-operational for the entire quarter (shutdown from March 17, 2026, to August 4, 2026).
- Net loss for the quarter stood at ₹3.25 Cr vs a loss of ₹8.42 Cr in the same period last year.
- Other income of ₹6.60 Cr provided a critical buffer against fixed costs during the shutdown.
- Propylene supply from HPCL resumed at 117 MT per day from May 11, 2026, but was deemed uneconomical by management.
Andhra Petrochemicals Ltd (APL) has announced the resumption of its plant operations effective August 5, 2026. The plant had been shut down since approximately March 17, 2026, marking a significant operational hiatus of nearly 141 days. This restart is critical for the company, which reported a TTM net loss of Rs 16 Cr and a negative operating margin of -4.5%. Resuming production is essential for APL to utilize its 73,000 TPA capacity and maintain its position in the domestic Oxo Alcohol duopoly.
- Plant operations scheduled to restart effective August 5, 2026
- Previous shutdown initiated on or around March 17, 2026, lasting approximately 141 days
- Company maintains a total installed capacity of 73,000 TPA for Oxo Alcohols
- TTM revenue stands at Rs 456 Cr against a market cap of Rs 403 Cr
- Company operates in a domestic duopoly for Oxo Alcohols with BPCL
Andhra Petrochemicals Ltd has reported the cessation of its Chairman and Non-Executive Independent Director, Dr. Pamidi Kotaiah, effective July 24, 2026, following his passing. Dr. Kotaiah (DIN 00038420) led the board of this small-cap chemical company, which currently operates in a domestic duopoly for Oxo Alcohols. The company reported a TTM revenue of ₹456 Cr and is navigating a challenging period with a TTM net loss of ₹16 Cr. Investors should monitor the board's upcoming decision regarding a successor to lead the governance of the firm.
- Cessation of Dr. Pamidi Kotaiah as Chairman and Director effective July 24, 2026
- The demise occurred on the night of July 23, 2026
- Dr. Kotaiah served as a Non-Executive & Independent Director with DIN 00038420
- Company currently manages a ₹421 Cr market capitalization with a TTM revenue of ₹456 Cr
- The firm maintains a domestic duopoly with BPCL in the Oxo Alcohol segment
Andhra Petrochemicals Ltd has scheduled a board meeting for August 5, 2026, to approve unaudited financial results for the quarter ended June 30, 2026. The company is currently navigating a challenging period with a TTM loss of ₹16 Cr and a negative operating margin of 4.5%. Investors will be watching for a continuation of the recovery seen in the March 2026 quarter, which reported a small profit of ₹1.38 Cr following a heavy loss in December 2025. As one of only two domestic producers of Oxo Alcohols, the company's performance remains highly sensitive to global pricing spreads and feedstock costs.
- Board meeting scheduled for August 5, 2026, to review Q1 FY27 performance
- Company reported a TTM revenue of ₹456 Cr against a market cap of ₹421 Cr
- Recent March 2026 quarter showed a recovery with a net profit of ₹1.38 Cr
- TTM EPS stands at -₹1.85, reflecting the impact of global oversupply in the chemical sector
- Company maintains a strong liquidity position with ₹362.3 Cr in cash as per qualitative filings
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents, though operating margins for the Oxo Alcohols segment declined in FY2025 and Q1FY2026 due to global pricing pressure.
Geographic Revenue Split
Primarily domestic (India) market given the company's status as one of only two domestic producers and the presence of anti-dumping duties on imports; exact percentage split is not disclosed.
Profitability Margins
Operating margins declined in FY2025 and Q1FY2026 due to narrowed spreads between product prices and feedstock costs. The company incurred a cash loss of INR 7.22 lakhs in FY2025 compared to no cash loss in FY2024.
EBITDA Margin
EBITDA margins declined in FY2025 and Q1FY2026 owing to global demand headwinds and oversupply; previously, margins had recovered starting Q2FY2024 after a sharp decline in FY2023.
Capital Expenditure
Not disclosed in available documents, though the company maintains a healthy capital structure with nil long-term debt as of March 31, 2025.
Credit Rating & Borrowing
Long-term rating of [ICRA]A- with a Negative outlook (revised from Stable on August 18, 2025) and Short-term rating of [ICRA]A2+. Total rated limits are INR 94.18 Cr with minimal working capital utilization.
Operational Drivers
Raw Materials
Feedstock (Propylene) and Natural Gas represent the primary input costs for the Oxo Alcohol manufacturing process.
Capacity Expansion
Current installed capacity is 73,000 TPA for Oxo Alcohols. No specific expansion plans or timelines are disclosed in the provided documents.
Raw Material Costs
Profitability is highly sensitive to the spread between Oxo Alcohol prices and feedstock costs; margins declined in FY2025 as global oversupply reduced final product pricing while input costs remained pressured.
Manufacturing Efficiency
The company employs state-of-the-art 'Selector-30' technology from Davy Process Technology, UK, and maintains minimal working capital utilization, reflecting efficient operational management.
Strategic Growth
Growth Strategy
The company aims to achieve growth by maintaining its domestic market share in the Oxo Alcohol duopoly and improving profitability through spread management. It leverages its strong liquidity (INR 362.3 Cr cash) and nil debt to navigate industry downturns.
Products & Services
Oxo Alcohols, specifically Normal Butanol (NBA) and 2-Ethyl Hexanol (2EH).
Brand Portfolio
The Andhra Petrochemicals Limited (APL).
Market Share & Ranking
One of only two producers of Oxo Alcohols in India, sharing a domestic duopoly with Bharat Petroleum Corporation Limited (BPCL).
Strategic Alliances
Promoted by The Andhra Sugars Limited (ASL) and Andhra Pradesh Industrial Development Corporation Limited (APIDC).
External Factors
Industry Trends
The Oxo Alcohol industry is currently facing a downturn with pricing pressure from global oversupply. However, the domestic market remains a duopoly, and APL is positioned to benefit when global spreads normalize.
Competitive Landscape
The primary domestic competitor is Bharat Petroleum Corporation Limited (BPCL).
Competitive Moat
The moat is based on a domestic duopoly with BPCL, trade protection through anti-dumping duties, and the use of proprietary 'Selector-30' technology, which are sustainable due to high entry barriers in petrochemicals.
Macro Economic Sensitivity
Highly sensitive to global chemical demand and industrial production cycles, which led to a margin decline in FY2025.
Consumer Behavior
Industrial demand for Oxo Alcohols is currently facing global headwinds, affecting the volume and pricing of APL's products.
Geopolitical Risks
Trade protection measures, such as anti-dumping duties, are critical to protecting the company's domestic market share from international competition.
Regulatory & Governance
Industry Regulations
Operations comply with Indian Accounting Standards (Ind AS) and are influenced by anti-dumping duties (ADD) imposed by the government on imported Oxo Alcohols.
Environmental Compliance
The company maintains high safety standards, evidenced by awards from the National Safety Council.
Legal Contingencies
Pending litigations are disclosed in Note 2.36 of the financial statements; however, specific case values were not provided in the summary documents.
Risk Analysis
Key Uncertainties
The primary uncertainty is the duration of the current pricing pressure and demand headwinds in the global Oxo Alcohol market, which impacted FY2025 margins.
Geographic Concentration Risk
100% of manufacturing facilities are concentrated in Visakhapatnam, Andhra Pradesh.
Technology Obsolescence Risk
The company uses 'Selector-30' technology from Davy Process Technology, which is currently considered state-of-the-art for the industry.
