IOL Chemicals and Pharmaceuticals Limited (NSE: IOLCP) Q4 2025 Earnings Call dated May. 20, 2025
Corporate Participants:
Unidentified Speaker
Rakesh Mahajan — Advisor, Finance and Strategic
Pradeep Khanna — Chief Financial Officer
Pardeep Khanna — Chief Financial Officer
Anubhav Adlakha — Investor Relations
Ms. Prachi — NA
Mr. Abhayraj Singh — Senior Vice President and Company Secretary
Analysts:
Unidentified Participant
Vivek Patel — Analyst
Aryan Gene — Analyst
Surabhi — Analyst
Akshay Kotari — Analyst
Sahil Vohara — Analyst
Raj Patel — Analyst
Vivek Gupta — Analyst
Sheikh Mohammed Ayaz — Analyst
Molik — Analyst
Vikash Doshi — Analyst
Apu Rafi — Analyst
Heman Kanungu — Analyst
Presentation:
operator
It. Ladies and gentlemen, you are connected to IOL Chemicals and Pharmaceuticals Q4FY25 earnings conference call. Please stay connected. The call will begin shortly. I repeat, ladies and gentlemen, you are connected to IOL Chemicals and Pharmaceuticals Q4FY25 earnings conference call. The call will begin shortly. Please stay connected. It. That. Ladies and gentlemen, good day and welcome to the IOL Chemicals and Pharmaceuticals Q4FY25 earnings conference call. As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing Star then zero on your touchtone phone. Please note that this conference has been recorded. I now hand the conference over to Ms. Prachi from MUFG investor relations team. Thank you. And over to you, Ma’ am.
Ms. Prachi — NA
Good afternoon everyone. For IOL Chemicals and Pharmaceuticals Limited Q4 and FY25 earnings conference call today. On the call we have Mr. Pardeep. Kumar Khanna, Chief Financial Officer. Mr. Abhayraj Singh, Senior Vice President and Company Secretary. Mr. Kushal Kumar Rana, Director Works and. Mr. Rakesh Mahajan, Advisor. Before we begin the call, I would. Like to give a short disclaimer. This call may contain some of the. Forward looking statements which are completely based. Upon our beliefs and expectations as of today. The statements are not a guarantee of. Our future performance and involve unforeseen risks and uncertainties. With this, I would like to hand. Over the call to Abhish sir for his opening remarks. Over to you, sir. Thank you.
Mr. Abhayraj Singh — Senior Vice President and Company Secretary
Thank you. Good afternoon everyone. Welcome to the Q4 and FY25 earnings call of IOL Chemicals and Pharmaceuticals Limited. I would like to thank you all for joining us today and for your continued trust and engagement with our company. Let me begin by briefly setting the broader industry context. FY25 was a year of mixed trends across the pharmaceutical and chemical value chains. In the pharmaceutical sector, demand remained stable but pricing pressure persisted driven by global oversupply and aggressive pricing from new entrants, especially in India. These dynamics impacted margin across the industry turning to chemicals. While global commentary often speaks of inventory restocking now being behind us and pricing stabilizations emerging in some segments.
It is important to contextualize this from iow’s perspective. Unlike stand alone chemical players, the majority of our specialty chemicals are produced for captive consumption within our pharmaceuticals API manufacturing. In that sense, our chemical business is an enabler of cost efficiency and supply reliability, not an independent growth engine exposed to global demand cycle. However, some of our chemicals are sold externally. Despite this backdrop, we delivered a resilient performance in FY25. In Q4 we saw improved traction in the ibuprofen segment despite continued price challenges alongside stable demand and pricing across our broader API basket. Meanwhile, our chemical operations delivered stable financial performance supported by enhanced efficiencies and better cost control.
A key highlight of the year was the successful commissioning of our fully backward integrated paracetamol unit at our plant site at Bernala. This rupees 155 crore investment, funded entirely through internal accrual has enhanced our paracetamol capacity to 10,800 MTPA. This is a major step in strengthening our non IDU portfolio which now contributes about 34% to the API revenues, up from 18% just five years ago. Therapeutic categories like antidiabetics, analgesics, anti cholesterol, anti epileptic, cardiovascular, etc. Continue to drive these diversifications with products like metformin, paracetamol, phenofibrate, pentaprazole, levitracetam, clopidogrel, etc Seeing strong and stable demand. We also expanded clopidogrel capacity by 33% reflecting our belief in the long term growth potentials of cardiovascular APIs from a regulatory standpoint.
Ibuprofen approval from China CD is an important milestone in expanding the IELTS global reach. To support future growth, we have acquired 101 acres of land along the Chandigarh Batinda highway, laying the groundwork for greenfield expansion. Approvals for industrial, environmental and NHI clearances are underway and progressing into FY 2026. Currently export revenues stand at around 27% and we aim to scale this to about 40% over the medium term. With 16 DMF and 19 CPs already filed, we are strengthening our foundation for a larger global presence. Strong backward indication model remains central to our strategy. It allows us to optimize cost, ensure quality, secure supply and improve margin resilience.
FY25 was a year of consolidation, efficiency gains and strategic investment. We are confident that this groundwork will support more consistent performance and value creation in the years ahead. With that, I want to invite Mr. Pradeep Khanna, CFO to take you through our financial performance for Q4 and FY 2025.
Pradeep Khanna — Chief Financial Officer
Thank you Amir. Hello everyone. Good afternoon. I will now share the operational performance for the quarter following which we will open the floor for questions and answers. In quarter four of franchise year 25 our revenue from operations grew to rupees 528cr marking a 4.7 percentage year on year growth compared to approximately rupees 504cr in quarter four of financial year 24. For the full year financial year 25 revenue stood at rupees 2,079. EBITDA for quarter four of financial year 25 increased by 70% approximately INR 67cr up from approximately rupees 58cr in the same quarter last year.
This translates to an EBITDA margin of 12.7% and improvement of 141 basis points year on year. For the full year EBITDA stood at rupees 225cr with an ETA margin of approximately 11%. On the bottom line, profit after tax for quarter four grew by 12% year on year to 31.6cr compared to rupees 28cr in quarter four of Rancho 24. This corresponds to a PAT margin of 5.9 percentage, an increase of 43 basis points for the full year. PAD stood at rupees 101cr with a PAD margin of 4.8 percentage. It is important to note that the border path is impacted by high depreciation charges largely stemming from our current recent capital announcements.
On a cash adjusted basis or what we refer to as cash pat, profitability remains down. Cash path for quarter four of 25 stood at rupees 56.4 cr compared to rupees 49.2 cr in quarter four of 1924, an increase of about 15 percentage for the full year financial year 25 cash debt was rupees 185 cr underscoring our strong cash generation and the resilience of our core operation. Our net debt to equity ratio stood at 0.09 on account of working capital borrowing at the end of mention 25 reflecting a minimal leverage and strong internal approval. This gives us ample headroom to fund future growth, pursue expansion opportunities and invest in long term strategic initiatives, all while maintaining a solid financial foundation.
So with that I improved my remarks. I now welcome questions you may have. Thank you.
operator
Thank you very much. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their touch tone telephone. If you wish to remove yourself from the question queue, you may press star and two participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question is from the line of Vivek Patel from Fecom Family office. Please proceed.
Questions and Answers:
Vivek Patel
Very good afternoon sir. I’m hoping I’m audible. Thanks a lot for the opportunity. Sir, just had a quick question. How has the Levitraceptin molecule performed over the last few quarters? And based on your assessment, how would you believe that the market for this molecule going to perform over the next say one to two years? Thank you.
Mr. Abhayraj Singh
I think Levitracetam, yes, the quantity will increase because we have already done some capacity enhancements for Levitracetum also and we are approaching new customers as well. And we have filed US GMF for this product also. So we are expecting a good volumes in near future.
Vivek Patel
Any geography you are expecting to perform better. So us Europe or Africa or Latin America. Which geography do you think the growth?
Mr. Abhayraj Singh
I think we have got CEP for this product. So first the market which we are targeting will be Europe followed by other markets like US and India parallel Brazil also we have an visa for this product so we can. We are also targeting Brazilian market also.
Vivek Patel
And any understanding or sort of estimate of the size of this molecules market, if there is any.
Mr. Abhayraj Singh
As of now we don’t have any idea.
Vivek Patel
Thank you sir. Thanks a lot. All the videos.
Mr. Abhayraj Singh
Thank you.
Mr. Abhayraj Singh
Thank you.
operator
Thank you. The next question is from the line of Aryan Gene from Lotus Wealth. Please proceed.
Aryan Gene
Congratulations on the website of numbers. I have a couple of questions. So we just received a CDE approval to export Ibupin in China. So in what scale do you think we can export Ibubin to China and will it have any material impact on our agreements?
Mr. Abhayraj Singh
I think definitely this is a new market for us since we have got the approval from the regulatory authority of China. So definitely. And there are good volumes there for ibuprofen and the derivatives also. So I think we have started touching our customers there in China so we can make a forecast over a period of time that how much material we can sell into that market.
Aryan Gene
Okay, perfect. And another question. When do you think we can get some price realizations in the chemical sector? Like our margins have been low since like a couple of years and the primary reason has been because of the dumping of the price. So do you think we might get some good price realizations going forward?
Mr. Abhayraj Singh
This is all regarding chemical prices. Hello. Yeah.
Vikash Doshi
Are you Arian?
Mr. Abhayraj Singh
Yes.
Aryan Gene
This is adding your question regarding chemical prices.
Mr. Abhayraj Singh
Yes. Yes. Yeah. In our chemical segment, our merchant floor is primarily for ethyl acetate only and other chemicals are primarily used for captive conjunction for our API segment. So earlier the prices of ethyle acetate was very fluctuating around one year back. But from the last 2, 3/4 the prices are stable along with the stable prices of raw material. Also so we think that the prices are already bottom out for ethyl acetate and now that demand is having some traction in increasing maybe one or two quarters. So the demand side we can say that it may be have some improvement, but price is totally linked with the prices of raw material.
Aryan Gene
So do you think we can improve on our margins going forward because we’re planning negative again.
Mr. Abhayraj Singh
Primarily we are working on internal efficiencies and how to reduce the cost of production. But not all the prices are totally linked with the raw material prices. But still we still know we can hope we can get low cost of production keeping in view the volatility in the raw material prices.
Aryan Gene
Okay, that answers my question. Thanks a lot.
operator
Thank you. The next question is from the line of Surabhi from NV Alpha. Please proceed.
Surabhi
Thank you so much for the opportunity. My first question is what was the volume growth and the value growth in Q4 and for the full year?
Mr. Abhayraj Singh
Yeah, in API business there is growth in IBUV I do business and little extension in non IV segment. Also not exactly what we expected for non IV segment. Especially in paracetamol where the demand was not up to the mark during FY25. Whereas the prices demand of ibuprofen we are seeing some policy numbers on increasing. It in chemical volume also increased in the fourth quarter.
Surabhi
So just to give a number to the. So was the volume growth higher than the value growth in the API segment?
Mr. Abhayraj Singh
Volume growth, Ibuprofen is there and clopidogrel is there. Cantapurazole is there. Phenofibrate is there where the quantities turnover was more than we have planned for them. But there was contraction of chemoxide command in paracetamol especially and for metformator main equal to as we planned in the budgets or last concourse. So exact number are very difficult to gain given in the concord. So but there is positive collection of volume in Ivo Ruben and some non ivo segment. Except.
Surabhi
So what would be the margin differential between say other API segment and the ibuprofen segment? Specifically because some of your other ibuprofen competitors are making losses in ibuprofen. So are you guys, are you also going through the same thing? And is the API margin coming from the other API segment?
Mr. Abhayraj Singh
Yeah, Subhi, this is Abhay. Actually we are unable to comment how the others are doing. But as you know that for the ibuprofen we are the backward integrated facility and we command the backward chain also. So and we are considered as one of the best cost efficient company for the ibuprofen so that is the reason we are able to generate the better efficiency and having and on a sustainable basis having around 85 to 90% capital capacity utilization. So but we don’t know how the others are doing. So that is the reason for us to sustain better in the better manner for the ibuprofen.
And the same is with the others also non ibuproo portfolio as well. Because we are also. The earlier part of your question was also asking for the volume growth or the value growth. So in non IBU we also registered value, sorry volume growth for the Q4. And going forward we are hopeful that we will be having more value growth because for most of the products we are having the CEP in place. So we will try to convert the export realization more.
Surabhi
Got it. And so last question, you know you are. You were speaking about export exporting ibuprofen to China. Just to understand how are margins and realizations different in China versus Europe versus the domestic market. Just to give a direction direction in this.
Mr. Abhayraj Singh
I think, I think we are having discussion with different customers. But as of now it is very difficult to comment on the price part. Once we have some customer realization and we’ll dispatch some quantities then probably we will be in a position to forecast about the numbers.
Surabhi
But is the China geography more margin accretive than say Europe in general?
Mr. Abhayraj Singh
Like in general it is. You can say it is almost same. Almost same. But it depends on the requirement and the customers how the order to order they are going forward.
Surabhi
Thank you so much. Thank you. Okay.
operator
Thank you. The next question is from the line of Akshay Kotari from Envision Capital. Please proceed.
Akshay Kotari
Thanks for the opportunity. So what is the peak revenue we can do from the existing capacity?
Mr. Abhayraj Singh
So considering the current price, the peak revenue from the existing capacity is something around 2700 to 2800.
Akshay Kotari
Okay. Okay. And sir, you mentioned that in chemicals we are using the rest of the chemicals like apart from ethyl acetate for catheters consumption to thousand crore revenue from chemicals is.
Mr. Abhayraj Singh
Yeah. Apart from apart from ethyl acetate we also have acetic anhydride part of which is being utilized for the forward integration into the pharma for manufacturing or producing the pharma product paracetamol. And the remaining is being used for the merchant sale. So basically these are two. We also have ibb but we we produce for very less extra quantity which we use for the merchant sale. Majorly this is ethyl acetate.
Akshay Kotari
So thousand crore revenue is majorly coming from ethyl acetate. Right.
Mr. Abhayraj Singh
And right. So it 90% will be from ethyl acetate.
Akshay Kotari
So sir, if I look at the gross block, the gross block has gone up in the last five years. Has gone, has almost doubled, more than doubled. And our revenues have also increased on the chemical front rather than on the drugs front. So wanted to just understand whether the capex which we have put is on the chemical front and then it is low margin actually. So wanted to understand more on what went wrong and the future capital allocation plans.
Mr. Abhayraj Singh
Nothing went wrong. I mean most of the cap, most part of the capex has been put into the pharma side whereas the chemical side we come up with the product acetic anhydride. This is the only chemical capex we did apart from some other maintenance capex. And we also undertaken the capex relating to the land infrastructure, software and automizations. And in last four, five years we also come up, most of our non IBU products has come up into the pharma sector only. But turnover, what are we talking about is relating to the prices also if you see prices what we were having for the non Ibu products in fact for Ibuprofen also around 5 years back since then there is a decline of around 25%.
So considering the prices of five years or four years back our turnover you can imagine where it would have been. So that is the, that is the current industry scenario.
Akshay Kotari
Okay. And sir, when do you think we would start making what could be a good margins in chemicals piece of business ebitda margins.
Pradeep Khanna
Approximately 10% is a better margin for chemical sector.
Ms. Prachi
Okay. And do we think that it can go to 10% because past does not show in that fashion.
Pradeep Khanna
In the last quarter, fourth quarter of 25 we have achieved 6% beta margin from chemicals as compared to 24 3%. So we are going forward to 10%. So hopefully in the current year we will achieve more than 6%.
Akshay Kotari
Okay. Okay, understood. Yeah, that’s it from my side. Thanks a lot.
Mr. Abhayraj Singh
Thank you.
operator
Thank you. The next question is from the line of Sahil Vohara from M and S Associates. Please proceed.
Sahil Vohara
Hello. Am I audible? Yes sir, I had a couple of questions. First question is we can see drop in pharma segment revenue for FY25 pharma EBIT fell significantly from 174 crore to 126 crore. Sir, I wanted to know is this margin pressure structural or temporary? Also considering the Q4 FY25 revenue and. EBIT is this maybe a sign of. Recovery in the pharma segment?
Mr. Abhayraj Singh
One of the reason Is that our quantity production and sale is increasing from the last quarters. That’s why the API segment in the quarter four. But as we have previously explained that top prices we think are at bottom out for all by UPA since last two, three quarters. We hope that this price will not be sustainable and maybe time to come it may be improved, starting improving.
Sahil Vohara
Okay, so that’s fair. So my next question is you outline the target of reaching 40 to 45% revenue from exports. Currently we are at 27%. What specific strategies or geographies will maybe help bridge the gap to your target?
Mr. Abhayraj Singh
So basically Sahil, for most of our non ibuprofen portfolio we are having the regulatory excruals from European market, Brazilian market and we also have for some from the Russian and the Korean and China as well. So these are the majorly the European country and we are targeting and we hope that in the year or maybe by the next two years we will be able to achieve the export realization or export sale of around 40 to 45% our chemical.
Sahil Vohara
We were sporting only 10 to 12% of our chemical revenue. And this year we have achieved only 18% of export revenue from the chemical. Because last year we have got the certification from ethyl acetate.
Mr. Abhayraj Singh
Yes. And for anhydride acetic anhydride are re certifications from the Europe also is in the process. And we hope we will receive very soon the same. So after receiving the CEP for acetic anhydride Europe will also be available for us for exporting the acetic anhydride surplus quantity we will be having after making the captive consumption.
Pradeep Khanna
Also I said we have got regulatory approval from China for IBU and also we have customer base for 80 countries. And we have filed from the 15 DMFI, 19 CEP and also company doing well in the regulated market. So we hope we will touch 40% in the next two years.
Sahil Vohara
Understood sir, Understood. That sounds very promising as well. Thank you sir. I’ll rejoin the queue if I have further questions. Thank you. Thank you.
operator
Thank you. Before I take the next question, I would like to remind participants that you may press Star in one to ask a question. The next question is from the line of Raj Patel from RK Securities. Please proceed.
Raj Patel
Hello. Am I audible?
Mr. Abhayraj Singh
Yes.
Raj Patel
So given that the regulatory clear clearance hinges on the physical U.S. fDA inspection. Has there been any progress or communication indicating when this side visit might occur? And are there any timelines you are currently working towards?
Mr. Abhayraj Singh
I think. I think USRBA approval is clearly means proceeded as per the regulatory or Authority requirements means the company has nothing to do with the inspection. As and when they will plan for the inspection, they will come for the inspection. I think as far as the company part is concerned, recently we have got approval for a phenofibrate product in US where we got some question, two, three questions for the DMF and then later on after submission of the response our customer got the approval for that. So I think it is very difficult to comment when U.S. fDA inspection will take place.
But yes, as a company we are ready for the inspection.
Raj Patel
Okay. And can you provide more clarity on the product portfolio plan for the upcoming facilities near Chandigarh Bhatinda Highway? Also, where do things stand with regulatory approvals and side readiness?
Mr. Abhayraj Singh
So I think, I think the most important part for starting a new plant is to get all the statutory requirements done. So we have started an environmental clearance process along with since this facility is just opposite to the national highway. So we have started the permission to get from national highway authorities Pollution Control Board environment clearance. So already the process has been started. So I think, I think when we’ll get the permissions the process is on. And as far as the products are concerned, so we are going with the same line chemicals and APIs with some forward integration to semi finished products like supplying DC grids into the market.
And that is the only plan.
Raj Patel
Okay, thank you for the opportunity. Thank you.
operator
Thank you. The next question is from the line of Vivek Gupta from Star Investments. Please proceed.
Vivek Gupta
Yeah, hello. Am I audible? Hello. Yeah. So which additional APIs are being considered for backward integration and how do you intend to sequence or prioritize these investments over the next few years?
Mr. Abhayraj Singh
So I think our R and D team is working on the products which are feasible to work out at our own facility, either here or at the new plants. So I think we will let you know the products at appropriate time. But yes, R D is working on backward integration for the existing products.
Vivek Gupta
Yeah. Okay. So like what, can you just provide me some insights or like what is the capex plan for FY26? Like are there any major projects or new areas where the company is allocating fresh investment in the coming year?
Pradeep Khanna
We are doing capex for 150-200cr from the last two three years. So we have planned the same 150-200cr in the current year. This is including growth, Capex infra and automation and developments. So. We have planned 150-200cr in during the year.
Vivek Gupta
Okay, thank you.
operator
Thank you. The next question is from the line Of Sheikh Mohammed Ayaz, an individual investor. Please proceed.
Sheikh Mohammed Ayaz
Very much thank you for the opportunity. I would like to congratulate ICB team for good set of numbers that while seeing the number what I see is there is a significant reduced. There is significant reduction in the other expenses. Because last quarter it was 81 crore. Now it is around 60,000. So where we see other expenses in near quarters.
Pradeep Khanna
Actually other expenses include power and fuel expenses. The prices of fuel drastically down in the 25 year of 25. The major we have consumed rice husk as a fuel which has came down drastically. So now actually the prices are stable. So the current year on the same line we have planned the power and fuel expenditure.
Sheikh Mohammed Ayaz
Okay, so where we see the other actions in the same range? 60 to 70 crores.
Pradeep Khanna
Near about.
Sheikh Mohammed Ayaz
Okay, so my second question is about export percentage. You in the presentation I see 27% is the export percentage. What where it was in F IFY 25 and 23. Can you tell me that.
Pardeep Khanna
2023 it was around 29 to 30%. Now it is 27% due to under utilization of European market. Especially due to Ukraine war. There was some industry which was not running yet running at full price. Also the prices of API came down as compared to 23.25. The prices are lower than 23 prices. So. It is looking the export on downside. Actually if you compare the volume, the volume has been increased.
Sheikh Mohammed Ayaz
Sir, can you tell me that chemical segment export.
Pradeep Khanna
Just before.
Sheikh Mohammed Ayaz
Just before two question. You told the data of chemical export percentage. You told something 18%. We are export proceeding for chemical. So can you tell. Can you repeat that segment revenue and the export revenue?
Mr. Abhayraj Singh
Yeah, earlier we were exporting around 10 to 12% of chemical revenue to the export market. After getting the reach certification last year. The export revenue share of chemical business has been increased to around 18% during FY25.
Sheikh Mohammed Ayaz
Okay. Sir, what about patents we are having? Because we have previously we have got pattern for Cetagliptin and certain drugs. And I know what investor annual annual. I saw that Adoxaban pattern. We are. We have filed. So can you tell me the significance of that?
Mr. Abhayraj Singh
I think. I think we have three patents which are approved earlier. So I think as of now we are having only three patents only. And I think for redux event we have to check. Probably that is not there. Probably. No, no, we have filed. We have filed three only and they are approved.
Sheikh Mohammed Ayaz
Okay, I have. Okay, maybe it was my mistake. But in annual report have read that.
Mr. Abhayraj Singh
I. I have to check and then come back to you if you can’t if there is any change.
Ms. Prachi
Okay, okay. Sir, we have recently got CV approval for Michela and I don’t know, maybe I’m spelling it incorrectly but how we see these two drugs in European market.
Mr. Abhayraj Singh
So like we have developed these molecules and we have got further gone for the regulatory approval and we got it. So right now we are planning to run these products in one of our multi product facilities so that we can start feeding into the market. And after that we will plan for the facility to make all both these products.
Mr. Abhayraj Singh
Mercier.
Sheikh Mohammed Ayaz
Any ebitda guidance for FY26? Because from last three years we have it has been reducing from 12 to 11 to now 10.7. Can you guide in that.
Pradeep Khanna
Last quarter for I 4Q25 we have EBITDA margin of approximately 13%. So we are expecting more than 15% in the current year.
Sheikh Mohammed Ayaz
More than 15%. Okay sir, that’s all from my side.
operator
Thank you. The next question is from the line of Molik from BNK securities. Please proceed.
Molik
Yeah, hi sir. Thank you for the opportunity. I hope I am audible. The first question is on our API business. So last two three quarters. As you had mentioned that we were witnessing pricing pressure and that pricing pressure was mainly due to lower demand if I’m not wrong and oversupply of products. So wanted to understand for which all products are we seeing a price trend reversal? I think paracetamol you mentioned that it is still at bottom level and has not improved significantly. But for other products how has the pricing been and volume demand?
Mr. Abhayraj Singh
The volume of non IB segment product like clopidogrel phenofabride has been increasing and little bit improvement in the prices but not in substantial numbers. But the demand is there for these two three trials. Except para everything is at a stable number but not going down now from last 2 3/4. But for this clopidogrel and phenofibrite pentaponazole the demand and prices are little bit. We are expecting little bit good numbers.
Molik
Okay sir. Okay. And can you help me with Ibu and non Ibu split for 4Q. For. Q4 split means in terms of the revenue?
Mr. Abhayraj Singh
Yes sir. So it’s around 65, 35%.
Molik
65% I do. Okay.
Mr. Abhayraj Singh
Okay.
Molik
And there was some minor leakage issue in the plant in the quarter. So has that been sorted and are we expected to lose any revenue because of it?
Mr. Abhayraj Singh
Actually it was a very very short.
Mr. Abhayraj Singh
Term around that 15 minutes or 10 minutes period. In fact we can call it and categorize it’s a leak. There was no. It was not a leak. It was. The reaction was going on and from one of the side hole there was a very minor leakage. So it was attended within 15 minutes of time. So it has no prolonged effect. Number one. And it was contained within single plant only. There was no effect even outside that plant also.
Molik
Okay, okay, okay. Got it. And I think our US DNS product approvals are pending because the US FDA has not inspected the facility. And do we have any information from the agency regarding the approximation?
Mr. Abhayraj Singh
As of now we don’t have any information for the inspection number one. And second, you commented that we have some pending approvals. So probably the approval process for all the file products is under progress. It will take its own time. And I think as far as the inspection, it is clearly the prerogative of the agency. And as an as and when they will plan, they will come for the inspection.
Molik
Okay. And one last question. What revenue growth are we expecting for FY26 and mainly would that be volume or value driven? You said value driven for certain products. But on a console basis how would that be?
Pradeep Khanna
We are expecting 10 to 15% growth in revenue from all the products. So it is the mix of both volume and prices.
Mr. Abhayraj Singh
Yes.
Molik
Okay. Okay. Thank you so much. Thank you.
operator
Thank you. The next question is from the line of Vikash Doshi from KR Investments. Please proceed.
Vikash Doshi
Hello. Am I audible?
Mr. Abhayraj Singh
Yes.
Vikash Doshi
Hello. Congratulations on good set of numbers. I have a couple of questions. Firstly, can you help break down the improvement in chemical segment this quarter? And which operational levers, particularly cost control, process optimization or scale efficiencies had the.
Mr. Abhayraj Singh
Most meaningful impact Scale efficiency. Because we have done maximum quantity in Q4 for both the products in chemical like a thylacetate and acetic anhydrate.
Vikash Doshi
Okay. So my also my second question is how would you compare the margin dynamics of ibuprofen with the rest of your API portfolio? And are molecules like paracetamol, metformin, clotrithrogel offering stronger margin support amidst the pricing pressure in ibuprofen?
Mr. Abhayraj Singh
No doubt our ibuprofen margins are presently more than all other non IBU segment. But all other non segment product are also potential to have EBITDA margin equivalent or more than I would also. But it may take some time or it may take more revenue from the regulatory market which we are trying for selling that market at the earliest.
Vikash Doshi
Okay, thank you.
operator
Thank you. The next question is from the line of Apu Rafi, an individual investor. Please proceed.
Apu Rafi
Good afternoon. So my Question is, given that the demand for acetic anhydride and paracetamol has been sluggish for the past few months, could you please provide an update on how the demand trends are evolving currently? Are you seeing a recovery in both of these segments? Sir.
Mr. Abhayraj Singh
For acetic anhydride the prices are stable. And further paracetamol we are expecting maybe keeping in the current geographical scenario. There may be some improvement in the demand also with some price appreciation also.
Apu Rafi
All right sir. But are you confident that this demand won’t fold away? Fade away. Sorry, Fade away like earlier. And this will be a gradual recovery.
Mr. Abhayraj Singh
Taking place as our existing plant which was around 3600 ton was running till last February at almost full capacity. So demand is here but the price was not up to the mark. But we hope that the demand and price will remain there.
Apu Rafi
Okay, thank you sir. That’s it for myself. Thank you.
operator
Thank you. The next question is from the line of Heman Kanungu from Nora Sia. Please proceed.
Heman Kanungu
Yeah, thanks for the opportunity sir. So I just wanted to understand any plans to manufacture a BCBA like for us. Considering like Metformin is our flagship product. And our entire philosophy of the company is to have that integration.
Mr. Abhayraj Singh
I think, I think as of now there is no plans to go for DCDA manufacturing. Because the basic input material is having some problem with the demand supply. Like this is basically over products. So it is as of now there is no plan to go for DCDM and fix it.
Heman Kanungu
Okay. And sir, any challenges we are facing from any nuclear for ibuprofen considering our peers, you know we are also having a like back time in ibuprofen business. So any update on that?
Mr. Abhayraj Singh
Sir, you clear. I know we don’t see any biggest big problem as of now. But this is a open market so anybody can come. And we have our strategy, we have our operational efficiency, the pro, the quality and the marketing efficiency. So what we can comment on that whenever it will come. We deal with.
Heman Kanungu
Two, three years.
Mr. Abhayraj Singh
So we cannot say on that.
Heman Kanungu
Yes. Okay sir. And. And sir, currently our paracetamol capacity is 13,000 ton or 10,000. Because in like last presentation they it was mentioned was 10,000 like 3,600 plus 7,200. But in the new presentation it’s mentioned 13,000 something.
Mr. Abhayraj Singh
We also clarified this thing in the last presentations when the press releases when we given the last time also. So you need to understand the background we were having before this the one plant which was having the overall capacity of 3600 MPa now we come up with the new plant. This plant is having the capacity of 10,800 MTPA presently. Presently both the plants are running. But our plan is that the old plant 3600 Mbps capacity all the production will shift to the new plant. So off late we will have 10,800 capacity. And the plant. The.
The plant which is existing plant 3600 will be converted for some other products. This is. This is on the basis of the current scenario.
Heman Kanungu
Okay? Okay. And last question. Sir. In the investor presentation which has been given in that in the page number 13 for Metformin it is mentioned that USDA USDMS is up like it’s there and for other products showing is under review and file. So does that mean for Metformin we are US FDA approved?
Mr. Abhayraj Singh
Yes. So. So this is approved means one of our customer applied to the US FDA filing the ENDA stating that they want the Metformin from iul. Their end has been approved and that is why we are allowed to sell to the customer. And the customer is selling the drugs manufactured in India to the US so that way it is approved.
Heman Kanungu
Okay? Okay. Got it. Thank you. Thank you sir.
operator
Thank you very much. Ladies and gentlemen. I take that as the last question and would now like to hand the conference over to the management for closing comments.
Vikash Doshi
Hello.
Mr. Abhayraj Singh
Hello sir, do we have any other question or we can go for the closing comments?
operator
Yeah, we can go for the closing comments.
Vikash Doshi
Thank you everyone for joining us today. As we close financial year 2025, it is clear that our focus on operational investment, portfolio diversification and strategical capacity addition is beginning to reflect in our performance metrics. While the external environment remain dynamic, our integrated model, strong balance sheet and ongoing regulatory progress give us confidence in our trajectory. We are entering financial year with sharper execution focus, deeper capabilities and a clear roadmap for scaling in both domestic and regulated international markets. We appreciate your ongoing support and look forward to engaging with you as we unlock the next phase of our growth story.
Thank you very much. Once again was your query. Please feel free to reach out to our investor relations team MUFG ir. Have a good day. Thank you.
operator
On behalf of IOL Chemicals and Pharmaceuticals. That concludes this conference. Thank you for joining us and you may now disconnect your lines.