Vishnu Chemicals Limited (BSE: 516072, NSE: VISHNU), a global manufacturer of speciality chemicals, has announced its unaudited financial results for the quarter and half year ended September 30, 2026, reporting steady business performance amid a challenging global operating environment.
During the quarter, the company continued to focus on operational efficiency, market development and strategic initiatives across its business segments. Its domestic and export sales contributed 58% and 42%, respectively, providing geographical diversification and helping partially mitigate the impact of elevated international freight costs.
Geopolitical tensions continued to affect global logistics, with shipping and forwarding expenses rising to 8.8% of operating revenue in Q2 FY27, compared with 5.9% in Q1 FY27. The company is maintaining a balanced sales mix to manage its exposure to higher input and logistics costs.
A key development during the period was the formation of a 50:50 joint venture with France-based DCX Chrome SAS to establish a high-purity Chromium Metal manufacturing facility in India. The proposed facility will cater to specialised applications in the aerospace and defence sectors.
The Barium business maintained stable performance, supported by ongoing initiatives to improve operational efficiency and increase market share. In South Africa, the company progressed infrastructure refurbishment, engineering assessments, contractor mobilisation, recruitment and regulatory compliance activities as part of preparations for a safe and stable operational restart.
Vishnu Chemicals is also planning to add approximately 20 MW of solar power capacity across its Visakhapatnam and Srikalahasti facilities. This expansion will supplement its existing 4.3 MW renewable energy capacity and is aimed at improving energy cost efficiency while advancing its sustainability objectives.
The company maintained a consolidated debt-to-equity ratio of 0.67x and a debt-to-EBITDA ratio of 2.8x as of September 30, 2026. Its credit profile also received a positive development, with ICRA assigning an A (Stable) rating to its long-term banking facilities, compared with the earlier CARE A- (Stable) rating.
Krishna Murthy Ch, Chairman and Managing Director, said, “We are pleased to report another quarter of steady performance, building on the momentum established during the first quarter and reflecting the resilience of our business amid a challenging global operating environment.” Siddartha Ch., Joint Managing Director, said, “The Company remains positive on its medium-term growth prospects while maintaining a balanced domestic and export sales mix providing a natural hedge against rising input and logistics costs.”
Vishnu Chemicals Limited manufactures high-performance speciality chemicals, with an integrated business model supported by forward and backward integration. Its product portfolio includes Chromium, Barium and Strontium chemicals, serving customers across more than 50 countries.
