Vinati Organics shares fall 5% as Q4 revenue slides 7%; profit flat despite margin expansion

Shares of Vinati Organics Limited fell as much as 5% after the company reported a near-flat quarterly profit for the March quarter, as a 6.9% slide in revenue weighed on the speciality chemicals maker's top line.

However, the company's operating margins stood at their highest level in at least five quarters.

Standalone net profit for Q4 FY26 rose just 1% to ₹137.5 crore from ₹127.6 crore a year earlier, while revenue fell to ₹610.6 crore from ₹648.5 crore in the year-ago quarter.

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Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) declined 5.6% to ₹170.3 crore from ₹180.3 crore, but margin expanded to 28.2% from 27.8% a year earlier — a 40-basis-point improvement.

The cost of materials consumed fell roughly 14% to ₹264.5 crore from ₹308.1 crore a year earlier.

For FY26, standalone revenue from operations came in at ₹2,228.2 crore, down marginally from ₹2,248.1 crore in FY25. Full-year standalone net profit, however, rose 17.5% to ₹487.8 crore from ₹415.2 crore. Standalone earnings per share for the year rose to ₹47.05 from ₹40.05.

The board recommended a final dividend of ₹8.50 per equity share of face value ₹1 each for FY26, subject to shareholder approval at the 37th Annual General Meeting. The dividend will be paid within 30 days of the AGM conclusion.

Shares of Vinati Organics closed slightly above the day's low at ₹1,317, down 3.88%. The stock has fallen 22% in the last year.