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Chemplast Sanmar Limited (CHEMPLASTS)

₹212.35 +4.27% last close, 16 Oct

📊 NSE: CHEMPLASTS 🏢 Chemicals 📢 Latest filing: 10 Oct 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Chemplast Sanmar's revenue was ₹1,125 Cr (+2.3% year on year, -10.5% on the previous quarter), and net profit ₹-176 Cr (a bigger loss than a year earlier); the operating margin was -10.2%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹1,125	+2.3%	-10.5%
Operating profit	₹-115	to loss	to loss
Net profit	₹-176	loss widened	loss widened
EPS (₹)	-11.10	loss widened	loss widened
Operating margin	-10.2%	—	—

Full quarterly financials → Results calendar →

CHEMPLASTS delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 38.22% of the CHEMPLASTS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 37.29%. That is close to its usual level. Volume was 0.3 times its average, well below normal.

38.22%Delivery, 16 Oct

37.29%Own 20-session average

0.3×Volume vs its average

₹212.35NSE close · +4.27%

Delivery in the last 5 sessions: 40.1% · 37.0% · 45.6% · 57.4% · 38.2%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

Chemplast Sanmar to acquire 27% stake in Yesaryes Energy for ₹45 lakh to source solar power

🟡 NEUTRAL ⭐ 3/10

OTHER 📅 10 Oct 2026, 01:27 PM

Chemplast Sanmar Limited has signed agreements to acquire a 27% equity stake in Yesaryes Energy Private Limited for a cash consideration of ₹45 lakh. The acquisition under a Group Captive Power Plant Scheme will enable the company to procure solar power from a 37.5 MW plant in Tamil Nadu. The target commenced commercial operations in April 2026, and the transaction involves no related-party interest. Given Chemplast's TTM revenue of ₹4,249 crore, this ₹45 lakh investment is financially immaterial in size but aimed at reducing ongoing operational power costs.

Acquisition of 27% equity stake in Yesaryes Energy Private Limited for ₹45 Lakhs in cash
Sourcing captive solar power from a 37.5 MW operational plant located in Tamil Nadu
Target entity commenced commercial operations in April 2026
No related-party transactions involved and no governmental approvals required

💡 Monitor upcoming quarterly results to assess whether captive solar power sourcing brings any noticeable relief to power and fuel operating costs.

Chemplast Sanmar Appoints Prashanth Vasu as Non-Executive Director Following Board Meeting

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 09 Oct 2026, 06:26 PM

Chemplast Sanmar Limited has appointed Mr. Prashanth Vasu as a Non-Executive and Non-Independent Director effective October 9, 2026, filling a casual vacancy created by the resignation of Mr. V S Radhakrishnan. Following this appointment, the board comprises 5 Independent Directors and 3 Non-Independent Directors. Mr. Vasu brings 18 years of experience as a Partner at McKinsey & Company and previous executive leadership at Ramco Systems. The appointment is subject to the approval of shareholders.

Appointment of Mr. Prashanth Vasu effective October 9, 2026, in place of outgoing director Mr. V S Radhakrishnan.
Post-appointment board structure consists of 5 Independent Directors and 3 Non-Independent Directors.
Mr. Vasu, 54 years, has 18 years (2002-20) of experience at McKinsey & Company and joined The Sanmar Group in February 2024.
Board meeting commenced at 4.10 PM and concluded at 4.25 PM on October 9, 2026.

💡 Monitor upcoming shareholder voting on the director appointment, while focusing primarily on upcoming quarterly results given recent TTM net losses of Rs -391 Cr.

Chemplast Sanmar Appoints Prashanth Vasu as Non-Executive Director Following Board Meeting

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 09 Oct 2026, 06:22 PM

Appointment of Mr. Prashanth Vasu effective October 9, 2026, in place of outgoing director Mr. V S Radhakrishnan.
Post-appointment board structure consists of 5 Independent Directors and 3 Non-Independent Directors.
Mr. Vasu, 54 years, has 18 years (2002-20) of experience at McKinsey & Company and joined The Sanmar Group in February 2024.
Board meeting commenced at 4.10 PM and concluded at 4.25 PM on October 9, 2026.

💡 Monitor upcoming shareholder voting on the director appointment, while focusing primarily on upcoming quarterly results given recent TTM net losses of Rs -391 Cr.

Chemplast Sanmar Restarts Karaikal EDC Plant; Machinery Damage Estimated at Rs 5 Cr

🟢 POSITIVE ⭐ 5/10

REGULATORY 📅 26 Sep 2026, 09:10 AM

Chemplast Sanmar has recommenced operations at its Ethylene-Di-Chloride (EDC) manufacturing plant in Karaikal, Puducherry, on September 26, 2026, following provisional revocation of prohibition orders by the Inspector of Factories and Puducherry Pollution Control Committee (PPCC). Operations had been disrupted since July 18, 2026, following an incident. Plant and machinery damage is estimated at approximately Rs 5 crore, for which an insurance claim has been submitted. The PPCC will review operations before issuing a final revocation order, at which point total financial and production impacts will be quantified.

Recommenced operations at Karaikal EDC plant on September 26, 2026, after disruption since July 18, 2026
Received provisional revocation of prohibition orders from Inspector of Factories and PPCC
Estimated plant and machinery damage is Rs 5 crore (0.16% of Net Worth)
Root Cause Analysis and HAZOP study completed to implement corrective measures
Overall production and financial loss impact to be quantified upon final revocation

💡 Track the receipt of the final revocation order from PPCC and the quantified impact of the ~2-month shutdown on Q2 FY27 operational earnings.

Chemplast Sanmar Director V S Radhakrishnan Resigns with Immediate Effect

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 16 Sep 2026, 12:51 PM

Chemplast Sanmar Limited has announced the resignation of Mr Vadalur Subramanian Radhakrishnan (DIN: 08064705), Non-Executive Non-Independent Director, effective September 15, 2026. The resignation comes amid ongoing operational stress, with the company reporting a net loss of Rs 175.58 Cr in Q1 FY27 (Jun 2026) and a TTM net loss of Rs 391 Cr. The intimation does not cite specific strategic or operational disagreements in the excerpt provided.

Non-Executive Non-Independent Director V S Radhakrishnan resigned effective September 15, 2026
Resignation intimation received by the company at 9.26 PM IST on September 15, 2026
Director DIN cited as 08064705 under SEBI Listing Regulation 30 disclosures
Company reported a TTM net loss of Rs 391 Cr against TTM revenue of Rs 4249 Cr

💡 Monitor any subsequent board reconstitutions and commentary during upcoming earnings on governance or strategic direction.

Chemplast Sanmar: Non-Executive Director V S Radhakrishnan Resigns Effective Sept 15, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 16 Sep 2026, 12:35 PM

Chemplast Sanmar Limited announced the resignation of Mr. Vadalur Subramanian Radhakrishnan (DIN: 08064705) from his position as Non-Executive Non-Independent Director. The resignation took effect immediately on September 15, 2026. This administrative change occurs as the company navigates severe operational headwinds, having posted a net loss of ₹175.58 crore in Q1 FY27 (June 2026) and a TTM loss of ₹391 crore.

V S Radhakrishnan resigned as Non-Executive Non-Independent Director effective September 15, 2026.
Resignation intimation recorded at 9.26 PM IST on September 15, 2026.
No executive or operational management role held by the departing director.
Company reports TTM revenue of ₹4,249 crore with a current market cap of ₹2,620 crore.

💡 Monitor upcoming board reconstitution filings and the company's Q2 FY27 earnings to assess whether ongoing operational challenges in the PVC segment show signs of recovery.

Govt Approves S Ganeshkumar as Chemplast Sanmar MD for 3-Year Term from April 1, 2026

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 27 Aug 2026, 05:47 PM

Chemplast Sanmar Limited has received statutory approval from the Ministry of Corporate Affairs (MCA) for the appointment of Mr. Ganeshkumar Subramanian as Managing Director. The approval is valid for a period of 3 years effective from April 1, 2026. The appointment was previously approved by the Board on January 10, 2026, and cleared via postal ballot on March 23, 2026.

Ministry of Corporate Affairs approved appointment via letter dated August 24, 2026 (received August 27, 2026)
Appointment of Mr. Ganeshkumar Subramanian (DIN: 00088163) as Managing Director confirmed
Tenure spans 3 years with retrospective effect from April 1, 2026
Follows prior Board approval on January 10, 2026, and shareholder approval on March 23, 2026

💡 Track management's execution on capacity additions in the custom manufacturing chemicals (CMC) division and margin recovery amid pricing pressure from PVC imports in upcoming quarterly results.

Chemplast Sanmar Denies Market Rumours of Acquiring Symed Labs

🟡 NEUTRAL ⭐ 3/10

M&A 📅 24 Aug 2026, 06:17 PM

Chemplast Sanmar Limited has issued a clarification under Regulation 30(11) denying media and online reports claiming the company entered into a definitive agreement to acquire Symed Labs Limited. The company stated it noticed the news item via alerts and confirmed no such acquisition agreement exists. Chemplast Sanmar noted that while not mandatorily required to respond under current rules, it submitted the clarification as a matter of good governance.

Denied news reports alleging a definitive agreement to acquire Symed Labs Limited on August 24, 2026
Clarified under Regulation 30(11) of SEBI LODR Regulations
Noted that clarification was provided as good practice despite no mandatory requirement

💡 Track core operational recovery in PVC spreads and Custom Manufactured Chemicals (CMC) ramp-up rather than speculative M&A reports.

Q1 FY27 Earnings Call: Revenue at ₹1,125 Cr, Net Loss at ₹176 Cr Amid High Feedstock Costs

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 14 Aug 2026, 06:58 PM

Chemplast Sanmar reported consolidated revenue of ₹1,125 crore for Q1 FY27, up marginally from ₹1,100 crore in Q1 FY26, but incurred an EBITDA loss of ₹115 crore and a net loss of ₹176 crore due to elevated VCM feedstock costs and low-priced import pressures. The Custom Manufactured Chemicals Division (CMCD) showed recovery with MPB 3 Phase 3 commissioned and a pipeline of nearly 50 molecules (14 commercialized). In Specialty Paste PVC, a 7,000-tonne debottlenecking at Cuddalore is slated for commissioning in October 2026. Management noted the reversal of high-cost inventory provisions with remaining net NRV provisions of ₹90 crore for CCVL and ₹30 crore for CSL expected to reverse in the current quarter.

Q1 FY27 consolidated revenue stood at ₹1,125 crore with a net loss of ₹176 crore and EBITDA loss of ₹115 crore.
Paste PVC 7,000 MT debottlenecking project at Cuddalore on track for commissioning in October 2026.
CMCD expanded its molecule pipeline to nearly 50 molecules with 14 already commercialized, backed by newly commissioned MPB 3 Phase 3.
Net NRV inventory provisions of ₹90 crore at CCVL and ₹30 crore at CSL carried into Q2, expected to reverse during the quarter.
Reimposition of basic customs duty effective July 16, 2026, and High Court order on provisional ADD assessments to ease dumping pressure.

💡 Track the commissioning of the 7,000 MT Cuddalore debottlenecking in October 2026, restoration progress at the Karaikal PVC plant, and gross margin recovery as high-cost raw material inventory clears in Q2 FY27.

5 Resolutions Passed: Chemplast Sanmar Shareholders Approve FY26 Financials and Director Appointments

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Aug 2026, 05:21 PM

Chemplast Sanmar Limited has announced the results of its 42nd Annual General Meeting (AGM) held on August 7, 2026. Shareholders approved five ordinary resolutions, including the adoption of FY26 audited financial statements and the appointment of directors Vijay Sankar and V S Radhakrishnan. Notably, a remuneration cap of Rs 1 crore was approved for Independent Directors in the event of inadequate profits, which is relevant as the company reported a TTM net loss of Rs 279 crore. All resolutions were passed with a significant majority, exceeding 99.99% of the votes polled.

5 ordinary resolutions passed with over 99.99% majority of total votes polled.
Total votes polled reached 12,78,06,570, representing 80.83% of the total outstanding shares.
Cost Auditor remuneration for FY 2026-27 ratified at Rs 5,75,000.
Independent Director remuneration capped at Rs 1,00,00,000 (Rs 1 Cr) in case of loss or profit inadequacy.
Public non-institutional voting participation was low at 0.0822% of their total shareholding.

💡 Monitor the company's progress on the completion of MPB 3 and 4 blocks expected by Q4 FY26, which is critical for reversing the current TTM loss of Rs 279 crore.

Chemplast Sanmar Releases Q1 FY27 Earnings Call Recording; TTM Net Loss at Rs 279 Cr

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Aug 2026, 07:43 PM

Chemplast Sanmar has released the audio recording of its earnings call held on August 7, 2026, following its Q1 FY27 results. The company is currently facing significant headwinds, reporting a TTM net loss of Rs 279 crore and a 55.3% share price decline over the past year. Management is focusing on its Custom Manufactured Chemicals (CMC) division, which has 17 products commercialized, to offset pricing pressures. Investors should note the company's high debt of Rs 1,180 crore relative to its Rs 2,924 crore market cap.

Earnings call held on August 7, 2026, covering the quarter ended June 30, 2026.
TTM Net Loss stands at Rs 279 crore as of the latest financial cycle.
Company identifies a 5-10% potential revenue impact from low-priced EU imports.
CMC division has 17 products commercialized with further expansion in MPB blocks.
Debt levels remain significant at Rs 1,180 crore against a net worth of Rs 3,193 crore.

💡 Listen to the recording to understand management's strategy for countering low-priced PVC imports and the specific ramp-up timeline for the Cuddalore expansion project.

Chemplast Sanmar 42nd AGM: R32 Plant and Phase III Multi-Purpose Block Commissioned in Q1 FY27

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 07 Aug 2026, 06:44 PM

Chemplast Sanmar held its 42nd AGM on August 7, 2026, confirming the approval of FY26 financial statements and director appointments. The Chairman highlighted the successful commissioning of the R32 Swing Plant and Phase III of the third Multi-Purpose Block at Berigai during Q1 FY27. Despite a challenging TTM net loss of ₹279.5 crore, the company is pivoting toward Specialty Chemicals and Custom Manufacturing (CMC) to mitigate pricing pressures in the PVC segment. Management noted that 17 products are now commercialized in the CMC division to drive future growth.

Commissioning of R32 Swing Plant and Phase III of the third Multi-Purpose Block at Berigai completed in Q1 FY27
Shareholders ratified ₹5,75,000 remuneration for Cost Auditors for the financial year 2026-27
CMC division has 17 products commercialized with new capacities in MPB 3 and 4 expected to ramp up in late FY26
Company reported a TTM net loss of ₹279.5 crore on a revenue base of ₹4,224 crore
Independent Directors' commission approved for a three-year period from FY 2026-27 to 2028-29

💡 Watch for the revenue contribution and margin impact of the newly commissioned R32 and CMC Phase III projects in the upcoming Q2 FY27 results to see if they can offset losses in the commodity PVC business.

Rs 115 Cr EBITDA Loss in Q1 FY27; 7 KTPA Paste PVC Expansion by Oct 2026

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 06 Aug 2026, 08:00 PM

Chemplast Sanmar reported a consolidated revenue of Rs 1,125 Cr for Q1 FY27, a marginal 2% YoY increase, but suffered a significant EBITDA loss of Rs 115 Cr compared to a profit of Rs 17 Cr in the previous year. Profitability was severely impacted by elevated input costs due to Middle East conflicts and pricing pressure in the Suspension PVC segment. The company is progressing with a 7 KTPA debottlenecking project at its Cuddalore Paste PVC facility, expected to be online by October 2026. Additionally, a fire incident at the Karaikal plant on July 17, 2026, led to a temporary shutdown, though management indicates no impact on Paste PVC operations.

Consolidated EBITDA loss of Rs 115 Cr in Q1 FY27 vs Rs 17 Cr profit in Q1 FY26.
Paste PVC capacity debottlenecking of 7 KTPA at Cuddalore scheduled for completion by October 2026.
Minimum Import Price (MIP) for PVC introduced at USD 766/MT to counter low-priced dumping.
Refrigerant gas (R-32) swing plant commenced commercial production in May 2026.
Fire incident at Karaikal on July 17, 2026, caused by nitrogen supply disruption, leading to a temporary shutdown for maintenance.

💡 Monitor the execution timeline of the 7 KTPA expansion in October 2026 and the ramp-up of the R-32 refrigerant plant. Investors should also track if the new Minimum Import Price (MIP) effectively stabilizes margins in the Suspension PVC segment in Q2 and Q3 FY27.

Chemplast Sanmar Q1 Standalone Revenue up 19.6% to ₹592 Cr; Net Loss Widens to ₹49 Cr

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 06 Aug 2026, 04:48 PM

Chemplast Sanmar reported a standalone revenue of ₹592.32 Cr for Q1 FY27, marking a 19.6% YoY increase from ₹495.28 Cr. Despite the top-line growth, standalone net loss widened significantly to ₹49.29 Cr compared to a loss of ₹28.42 Cr in Q1 FY26. The performance was impacted by higher raw material costs (₹321.6 Cr) and sustained finance costs of ₹28.69 Cr. Additionally, the company disclosed a post-quarter fire incident at its Karaikal facility, the financial impact of which is currently under assessment.

Standalone revenue from operations increased 19.6% YoY to ₹592.32 Cr.
Standalone net loss widened by 73.4% YoY to ₹49.29 Cr from ₹28.42 Cr.
Cost of materials consumed rose to ₹321.60 Cr, up from ₹288.94 Cr in the year-ago period.
Finance costs remained high at ₹28.69 Cr, representing 4.8% of quarterly revenue.
Reported a minor fire incident at the Karaikal EDC plant subsequent to June 30, 2026, causing temporary disruption.

💡 Investors should monitor the timeline for restoring operations at the Karaikal facility and track the stabilization of PVC prices, which have been pressured by low-priced imports.

Chemplast Sanmar schedules Q1 FY27 earnings call for August 7, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 04 Aug 2026, 12:39 PM

Chemplast Sanmar has scheduled its Q1 FY27 earnings conference call for August 7, 2026, at 11:00 AM IST. This follows a difficult FY26 where the company reported a net loss of ₹279.49 crore and a low operating margin of 4.68%. Investors will be looking for updates on the Custom Manufactured Chemicals (CMC) division and the impact of low-priced imports on domestic PVC pricing. The management team, including the MD and CFO, will lead the discussion on operational performance.

Earnings conference call scheduled for August 7, 2026, at 11:00 AM IST
Management to discuss Q1 FY27 results following a TTM net loss of ₹279.49 crore
Focus remains on the CMC division which currently has 17 commercialized products
Company is navigating a challenging environment with a TTM EPS of -₹17.55
Market capitalization stands at ₹3,135 crore against TTM revenue of ₹4,224 crore

💡 Listen for management commentary regarding the timeline for the MPB 3 and MPB 4 blocks and any signs of recovery in PVC margins which have been suppressed by imports.

View All CHEMPLASTS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Specialty Chemicals grew 10% YoY to INR 726 Cr in H1 FY26, driven by new Paste PVC capacity. Value-added Chemicals declined 9% YoY to INR 276 Cr due to pricing pressure. Suspension PVC remained flat at INR 1,131 Cr.

Geographic Revenue Split

Not disclosed in available documents, though the company mentions expanding into global markets and domestic demand shifts.

Profitability Margins

Consolidated EBITDA margin for H1 FY26 was 3%, a significant drop from 7% in H1 FY25. FY24-25 consolidated loss after tax was INR 110.36 Cr, an improvement from a loss of INR 158.43 Cr in FY23-24.

EBITDA Margin

EBITDA margin for H1 FY26 stood at 3%, down from 7% YoY. EBITDA for H1 FY26 was INR 60 Cr, representing a 60% YoY decrease from INR 150 Cr.

Capital Expenditure

Phase II expansion of CMC division completed in FY24-25. Phase 3 of MPB 3 and civil works for MPB 4 are progressing with expected completion in Q3 FY26 and Q4 FY26 respectively.

Credit Rating & Borrowing

Finance costs increased 31% to INR 235.88 Cr in FY24-25 from INR 180.52 Cr due to post-capitalisation impact of project loans. Consolidated net debt stood at INR 1,319 Cr as of September 30, 2025.

⚙️ Operational Drivers

Raw Materials

Hazardous chemicals and commodity-linked inputs including those for PVC and Hydrogen Peroxide production. Specific percentage of total cost per material is not disclosed.

Import Sources

Not disclosed in available documents, though the company notes vulnerability to geopolitical issues affecting supply chains.

Capacity Expansion

Hydrogen Peroxide reached record sales of 28,390 MT in FY24-25. CMC division has 17 products commercialized with new capacities in MPB 3 and MPB 4 expected to ramp up in late FY26.

Raw Material Costs

Raw material costs are subject to commodity price swings and currency fluctuations. The company uses hedging and sourcing diversification to mitigate these risks.

Manufacturing Efficiency

The company focuses on cost leadership and operational efficiency to protect profitability in a softening pricing environment. Most plants hold Five Star ratings from the British Safety Council.

📈 Strategic Growth

Expected Growth Rate

12.40%

Growth Strategy

Growth will be achieved through the commercialization of a diversified product pipeline in the CMC division (17 products currently), capacity expansion in Paste PVC at Cuddalore, and the completion of MPB 3 and MPB 4 blocks by Q4 FY26 to broaden the customer base in agrochemicals and life sciences.

Products & Services

Specialty Paste PVC resin, Suspension PVC, Custom Manufactured chemicals (intermediates and active ingredients), Caustic Soda, Chloromethanes, Hydrogen Peroxide, and Refrigerant gases.

Brand Portfolio

Chemplast Sanmar, Sanmar Group.

New Products/Services

17 products commercialized in CMC with several more in the pipeline; new Paste PVC plant at Cuddalore is already driving 10% growth in Specialty Chemicals.

Market Expansion

Targeting high-growth sectors such as agrochemicals and life sciences through custom manufacturing engagements.

Market Share & Ranking

#1 manufacturer of Specialty Paste PVC in India and 2nd largest producer of Suspension PVC in India.

Strategic Alliances

Long-standing partnerships (15+ years) with global originator and innovator companies in the CMC segment.

🌍 External Factors

Industry Trends

The Indian Specialty Chemicals industry is projected to grow at a CAGR of 12.4% through 2025. There is a significant shift toward sustainability and zero-liquid discharge manufacturing.

Competitive Landscape

Facing intense competition from new entrants in the Hydrogen Peroxide market and low-priced imports from the EU in the PVC segment.

Competitive Moat

Moat is built on market leadership in Paste PVC, a highly integrated closed-loop manufacturing process, and 15-year relationships with global innovators which are difficult for new entrants to replicate.

Macro Economic Sensitivity

Highly sensitive to global supply shifts and commodity price cycles, particularly in the PVC and Hydrogen Peroxide markets.

Consumer Behavior

Rising demand for eco-friendly products in healthcare and paper & pulp is driving growth in the Hydrogen Peroxide segment.

Geopolitical Risks

Geopolitical shifts, such as unrest in Bangladesh, have led to an influx of lower-priced imports into the Indian domestic market.

⚖️ Regulatory & Governance

Industry Regulations

Anti-Dumping Duty (ADD) on PVC imports from certain regions; Quality Control Orders (QCO) and ongoing ADD investigations into EU imports (decision expected Q2 FY26).