Yasho Industries Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Yasho Industries Ltd filed with BSE on 10 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Yasho Industries reported Q1 FY27 consolidated revenue of Rs. 308 crores, up on 42% volume growth, with EBITDA margin expanding to 24.2% from 17% in the prior year period. Management attributed the margin improvement to higher capacity utilization, an improved product mix, and long-term customer commitments, and said it expects to sustain these margins going forward. The company raised its FY27 capex plan from Rs. 125 crores to Rs. 250 crores and revised its FY28 revenue target upward to more than Rs. 1,600 crores.
3 statements from this call are not shown because their supporting quotes could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue: Rs. 308 crores (Q1 FY27)
p. 3
“The company achieved its highest quarterly revenue of Rs. 308 crores driven by a 42% increase in volume on a year-on-year basis.”
Parag Jhaveri, page 3 of the filed PDF · View the filing
EBITDA margin: 24% (Q1 FY27)
p. 3
“This increased utilization of our facilities as well as improved product mix helped increase our EBITDA margin from 17% to 24%.”
Parag Jhaveri, page 3 of the filed PDF · View the filing
EBITDA: Rs. 74.42 crores (Q1 FY27)
p. 5
“For the quarter, EBITDA stood at Rs. 74.42 crores, translating into an EBITDA margin of 24.2%.”
Chirag Shah, page 5 of the filed PDF · View the filing
Profit after tax: Rs. 36 crores (Q1 FY27)
p. 5
“Profit after tax for the quarter stood at Rs. 36 crores, resulting in a PAT margin of 11.7%.”
Chirag Shah, page 5 of the filed PDF · View the filing
Net debt to EBITDA ratio: 1.86x (as of June 30, 2026)
p. 5
“Our net debt to EBITDA ratio improved to 1.86x as of June 30, 2026, compared with 3.75x at the end of Q4 FY26.”
Chirag Shah, page 5 of the filed PDF · View the filing
Working capital cycle: 143 days (Q1 FY27)
p. 5
“Our working capital cycle improved from 190 days to 143 days, supported by better inventory planning, improved receivables management, and tighter control over cash deployment.”
Chirag Shah, page 5 of the filed PDF · View the filing
Capital expenditure incurred: Rs. 18.73 crores (Q1 FY27)
p. 5
“During the quarter, we incurred capital expenditure of Rs. 18.73 crores, primarily towards ongoing expansion of our Pakhajan facility.”
Chirag Shah, page 5 of the filed PDF · View the filing
Export share of revenue: approximately 69% (Q1 FY27)
p. 4
“Export continues to remain a key pillar of our business, contributing approximately 69% of total revenue.”
Parag Jhaveri, page 4 of the filed PDF · View the filing
Industrial chemicals share of revenue: nearly 89% (Q1 FY27)
p. 4
“Industrial chemicals remain our primary growth segment, contributing nearly 89% of total revenue during the quarter.”
Parag Jhaveri, page 4 of the filed PDF · View the filing
Capacity utilization: over 65% (Q1 FY27)
p. 4
“Capacity utilization at our facilities improved to over 65%, supported by the successful ramp-up of capacities commissioned at our Pakhajan plant.”
Parag Jhaveri, page 4 of the filed PDF · View the filing
Top customer revenue contribution: about 7% of revenue (Q1 FY27)
p. 12
“Well, top most customer will have a contribution of about 7% of the revenue.”
Parag Jhaveri, page 12 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
FY28 revenue target — more than Rs. 1,600 crores · FY28
stated firmly by Parag Jhaveri
p. 4
“our company has revised our FY28 revenue target to more than Rs. 1,600 crores.”
Parag Jhaveri, page 4 of the filed PDF · View the filing
FY27 capital expenditure — Rs. 250 crores · FY27
stated firmly by Parag Jhaveri
p. 4
“we have decided to enhance our planned capital expenditure for FY27 from Rs. 125 crores to Rs. 250 crores.”
Parag Jhaveri, page 4 of the filed PDF · View the filing
Annual revenue growth — 30% to 40% · next few years
stated conditionally by Parag Jhaveri
p. 4
“Based on current market conditions, customer inquiries and commitments, we are targeting 30% to 40% annual revenue growth over the next few years.”
Parag Jhaveri, page 4 of the filed PDF · View the filing
EBITDA margin — current quarter's margin · going forward
stated firmly by Parag Jhaveri
p. 3
“The Management is confident to sustain the EBITDA margin of its current quarter going forward on account of improved product mix and better capacity utilization which is backed by commitment from key customers.”
Parag Jhaveri, page 3 of the filed PDF · View the filing
EBITDA margin — going forward
stated firmly by Chirag Shah
p. 5
“Based on the current outlook, the company will endeavor to maintain current margins going forward.”
Chirag Shah, page 5 of the filed PDF · View the filing
Borrowings to fund expansion — approximately Rs. 100 crores · FY27
stated firmly by Chirag Shah
p. 5
“To fund this expansion, the company expects to raise approximately Rs. 100 crores through borrowings during FY27.”
Chirag Shah, page 5 of the filed PDF · View the filing
Long-term agreement commercialization — Q1 FY28
stated firmly by Parag Jhaveri
p. 4
“We also continue to make good progress on our long-term agreement, and the project remains on track with commercialization expected in Q1 FY28, in line with the planned execution schedule.”
Parag Jhaveri, page 4 of the filed PDF · View the filing
Capacity utilization — 75% utilization · FY27
stated as an aspiration by Parag Jhaveri
p. 9
“FY27, we are expecting to ramp up to 75% utilization.”
Parag Jhaveri, page 9 of the filed PDF · View the filing
Revenue from Phase 1 capex — Rs. 100 crores · FY28
stated as an aspiration by Parag Jhaveri
p. 19
“We will try our best to get that. We will try our best to get that.”
Parag Jhaveri, page 19 of the filed PDF · View the filing
Industrial chemical range growth — more than 90% · coming quarters
stated as an aspiration by Parag Jhaveri
p. 12
“I think all our industrial chemical range will give us incremental growth. And we do expect to grow more than 90% in coming quarters.”
Parag Jhaveri, page 12 of the filed PDF · View the filing
Addressable market revenue aspiration — $200-$300 million
stated as an aspiration by Parag Jhaveri
p. 9
“That's of 12 billion to 15 billion addressable market, we are aspire to become $200-$300 million.”
Parag Jhaveri, page 9 of the filed PDF · View the filing
EBITDA margin — 24%-25% · FY27
stated firmly by Parag Jhaveri
p. 19
“I think we should be able to maintain this margin for FY27. We will try our best to maintain this margin.”
Parag Jhaveri, page 19 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said the margin improvement came from better product mix, capacity utilization and customer commitments rather than old stock, giving confidence to maintain margins.
Answered by Parag Jhaveri
Asked by Meet Katrodiya: Can margins be sustained even when supply chain and pricing normalize?
p. 6
“Number two, we do have some commitment from our marquee customers, which is helping us to confidence to give the guidance that we will be able to maintain in the coming quarters also the similar EBITDA margins.”
Parag Jhaveri, page 6 of the filed PDF · View the filing
Management confirmed expectation of sequential volume growth.
Answered by Parag Jhaveri
Asked by Meet Katrodiya: Will volumes grow sequentially quarter-on-quarter?
p. 6
“It should grow.”
Parag Jhaveri, page 6 of the filed PDF · View the filing
Management said Phase 1 will need about Rs. 100 crores and Phase 2 about Rs. 150 crores, coming online in different quarters of FY28.
Answered by Parag Jhaveri
Asked by Nishita Shanklesha: What is the capex split and timeline for the two new Pakhajan buildings?
p. 7
“In the 1st Phase about Rs. 100 crores and 2nd Phase will be Rs. 150 crores.”
Parag Jhaveri, page 7 of the filed PDF · View the filing
Management cited improved capacity utilization, customer offtake and product mix as the drivers of the margin change.
Answered by Parag Jain
Asked by Parth Agrawal: What changed to allow margins to move from the historical 17-20% range to 20-24%?
p. 8
“The first and foremost thing that changed is our leverage. The capacity utilization, which was at the 50% at the company level, it has gone to 65% with an increased capacity.”
Parag Jain, page 8 of the filed PDF · View the filing
Management confirmed it expects roughly 2.5x asset turn on the new capex.
Answered by Parag Jhaveri
Asked by Pujan Shah: What asset turn should be assumed on the new Rs. 250 crore capex?
p. 9
“I think, yes, we will like to keep it 2.5x of the CAPEX. So, we should get the revenue. So, yes, that should be the fair assumption.”
Parag Jhaveri, page 9 of the filed PDF · View the filing
Management said it does not see Chinese capacity as a near-term challenge given the size of the addressable market relative to its own targeted scale.
Answered by Parag Jhaveri
Asked by Pujan Shah: Has the company faced any risk from Chinese capacity additions or dumping affecting realizations?
p. 9
“And always the customers are looking for an alternate supply chain. So, that's not a challenge.”
Parag Jhaveri, page 9 of the filed PDF · View the filing
Management confirmed the guidance excludes the new buildings and that real growth from them will show up from FY29.
Answered by Parag Jhaveri
Asked by Amar Maurya: Does the Rs. 1,600 crore FY28 guidance include revenue from the two new Pakhajan buildings?
p. 17
“Absolutely. So, that's the whole key thing, how quickly we can start construction and commissioning the plant. That's very, very good for us. Very, very good for us. And you can see the growth coming from FY29. Real growth coming from FY29.”
Parag Jhaveri, page 17 of the filed PDF · View the filing
Management acknowledged genuine raw material supply issues and export container booking delays affecting logistics.
Answered by Parag Jhaveri
Asked by Aman Thadani: Is the company facing any inventory or supply chain risk given the macro/war situation?
p. 18
“We are facing a genuine supply issue on our raw material side. Also, we are facing an issue on our export side where we don't get the booking of our containers.”
Parag Jhaveri, page 18 of the filed PDF · View the filing
Management said about 60-65% of the new capacity already has committed customers, with the balance still needing to be filled.
Answered by Parag Jhaveri
Asked by Dakshesh Gupta: Are customers already lined up for the new capacity being built?
p. 19
“Up to 60%-65% we have customers. To balance, we need to search.”
Parag Jhaveri, page 19 of the filed PDF · View the filing
Risks flagged
Genuine raw material supply issues affecting inventory levels
p. 18
“We are facing a genuine supply issue on our raw material side.”
Parag Jhaveri, page 18 of the filed PDF · View the filing
Export container booking delays extending shipment gestation periods
p. 18
“Also, we are facing an issue on our export side where we don't get the booking of our containers.”
Parag Jhaveri, page 18 of the filed PDF · View the filing
Lack of sufficient ship and booking availability creating logistics challenges
p. 18
“So, there is not enough ships available, not enough booking available. So, it's a challenging time for us.”
Parag Jhaveri, page 18 of the filed PDF · View the filing
Uncertainty over future market conditions affecting margin trajectory
p. 14
“Tomorrow, how those things will play out in the market. What new crisis will crop up, no one knows.”
Parag Jhaveri, page 14 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.