Indian Acrylics Ltd (514165)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Indian Acrylics' revenue was ₹107 Cr (+24.4% year on year, +44.5% on the previous quarter), and net profit ₹-1.7 Cr (a smaller loss than a year earlier); the operating margin was 1.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹107 | +24.4% | +44.5% |
| Operating profit | ₹1.3 | — | from loss |
| Net profit | ₹-1.7 | loss narrowed | loss narrowed |
| EPS (₹) | -0.12 | loss narrowed | loss narrowed |
| Operating margin | 1.2% | — | — |
📢 Recent Corporate Announcements
Brickwork Ratings has upgraded Indian Acrylics Limited's credit rating for ₹99.00 crore bank loan facilities out of default, moving the Long-Term rating from 'BWR D' to 'BWR BB-/Stable' and Short-Term rating from 'BWR D' to 'BWR A4'. The upgrade follows the company repaying an entire term loan of ₹50 crore and complying with post-default curing periods alongside narrowing quarterly losses. Despite this relief, the company faces fundamental distress with negative net worth (-₹12.98 crore in FY26) and a stretched Debt Service Coverage Ratio (DSCR) projected at 0.95x in FY27.
- Credit rating on ₹99.00 crore facilities upgraded out of default (BWR D) to BWR BB-/Stable and BWR A4
- Company fully repaid term loan obligations of ₹50 crore, facilitating the rating upgrade
- EBITDA projected by rating agency to improve from ₹1.72 crore to ₹14.51 crore, with interest costs reducing from ₹17.28 crore to ₹6.05 crore
- Tangible net worth remains deeply negative at -₹12.98 crore for FY26, with FY27 DSCR projected weak at 0.95x
Indian Acrylics announced that shareholders approved the re-appointment of Shri Rajinder Kumar Garg as Managing Director and Shri Alok Goyal as Executive Director (Works) at its 39th AGM held on September 29, 2026. Both re-appointments are for a 3-year term commencing from March 1, 2027. Shri Rajinder Kumar Garg, aged 83, has served as MD since March 1, 1986, while Shri Alok Goyal has been with the company since 1998. The move maintains operational and promoter leadership continuity for the financially strained company (TTM loss of ₹21 Cr and net worth of ₹-13 Cr).
- Shareholders approved re-appointment of Managing Director Rajinder Kumar Garg for 3 years w.e.f. 01.03.2027
- Shareholders approved re-appointment of Executive Director (Works) Alok Goyal for 3 years w.e.f. 01.03.2027
- Managing Director Rajinder Kumar Garg is 83 years old and has been MD since 01/03/1986
- Approval granted at the company's 39th Annual General Meeting on September 29, 2026
Brickwork Ratings has upgraded Indian Acrylics' credit ratings on bank facilities totaling Rs 99 crore out of default (BWR D) to BWR BB-/Stable for long-term facilities and BWR A4 for short-term facilities. The upgrade follows the company's full repayment of a Rs 50 crore term loan and recent operational improvements. Despite the upgrade, the agency noted that the financial position remains stretched, with negative net worth (-Rs 12.98 crore in FY26) and projected FY27 DSCR below 1x (0.95x).
- Bank loan facilities aggregating Rs 99.00 crore upgraded from BWR D to BWR BB-/Stable (long-term) and BWR A4 (short-term)
- Upgrade driven by complete repayment of Rs 50 crore term loan and compliance with post-default curing period policy
- Interest burden is projected to decline from Rs 17.28 crore to Rs 6.05 crore, with projected EBITDA rising to Rs 14.51 crore
- Liquidity remains stretched with DSCR projected below 1x at 0.95x in FY27 and 0.60x in FY28
Indian Acrylics Limited has announced that its Annual General Meeting (AGM) will be held on Tuesday, September 29, 2026, to adopt company accounts. The cut-off date to determine shareholder voting eligibility is set for September 22, 2026. Remote e-voting via CDSL will run from September 26, 2026 (9:00 AM) to September 28, 2026 (5:00 PM). The share transfer register will remain closed from September 23 to September 29, 2026.
- Annual General Meeting scheduled for September 29, 2026
- Cut-off date for e-voting eligibility fixed as September 22, 2026
- Remote e-voting window open from September 26, 2026 (9:00 AM) to September 28, 2026 (5:00 PM)
- Share transfer books closed from September 23, 2026 to September 29, 2026
Indian Acrylics reported a narrowed standalone net loss of Rs 1.67 Cr for Q1 FY27, a significant improvement from the Rs 4.72 Cr loss in Q1 FY26. Revenue from operations grew 56.6% YoY to Rs 74.30 Cr, primarily supported by the Fibre segment which turned a profit of Rs 6.12 Cr. However, the Yarn segment remains a drag with a loss of Rs 4.70 Cr. The company's net worth remains substantially eroded, and the auditors have highlighted that the 'going concern' status depends on future operational improvements and government incentives.
- Revenue from operations increased 56.6% YoY to Rs 74.30 Cr from Rs 47.43 Cr.
- Net loss narrowed significantly to Rs 1.67 Cr compared to a loss of Rs 4.72 Cr in the previous year's quarter.
- Fibre segment EBIT improved to Rs 6.12 Cr from Rs 2.01 Cr YoY.
- Yarn segment loss widened to Rs 4.70 Cr from a loss of Rs 2.86 Cr YoY.
- Finance costs decreased to Rs 2.98 Cr from Rs 3.67 Cr in the same period last year.
Indian Acrylics reported a narrowed standalone net loss of 1.67 Cr for Q1 FY27, a significant improvement from the 4.72 Cr loss in Q1 FY26. Total income rose 24% YoY to 109.29 Cr, primarily driven by domestic sales as exports dipped slightly to 32.64 Cr. Despite the operational improvement, the company's net worth remains substantially eroded at -13 Cr, with the auditor highlighting a 'going concern' assumption based on expected future government incentives. The board also approved the re-appointment of the Managing Director and Executive Director for three-year terms starting March 2027.
- Total income from operations increased to 109.29 Cr from 88.05 Cr in the year-ago quarter.
- Net loss narrowed by 64.5% YoY to 1.67 Cr compared to 4.72 Cr.
- Fibre segment turned profitable at the EBIT level with a profit of 6.12 Cr vs a loss of 4.21 Cr in the previous quarter.
- Finance costs decreased to 2.98 Cr from 3.67 Cr in the same period last year.
- Export sales contributed 32.64 Cr, representing approximately 30% of total revenue.
Indian Acrylics Ltd has scheduled a board meeting on August 13, 2026, to approve its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The company is currently facing significant financial headwinds, with a TTM loss of ₹24 Cr and a negative net worth of ₹13 Cr. Investors will be monitoring these results closely following a weak March 2026 quarter where the company reported a net loss of ₹11 Cr on revenue of ₹74 Cr. The trading window for designated persons has been closed since July 1, 2026.
- Board meeting scheduled for August 13, 2026, to approve Q1 FY27 results
- Trading window closed from July 1, 2026, until 48 hours after result declaration
- Company reported a TTM net loss of ₹24 Cr as of the latest financial context
- Net worth stands at a negative ₹13 Cr against a debt of ₹231 Cr
- Revenue for the most recent quarter (Mar 2026) was ₹74 Cr
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