Oriental Aromatics Ltd (NSE: OAL) Q3 2026 Earnings Call dated Feb. 13, 2026
Corporate Participants:
Unidentified Speaker
Mr. Dharmil A. Bodani — Managing Director
Mr. Shyamal A. Bodani — Executive Director
Mr. Girish Khandelwal — Chief Financial Officer
Analysts:
Unidentified Participant
Purvangi Jain — Analyst
Jai Jain — Analyst
Manasvi Gupta — Analyst
Rohit Kumar — Analyst
Saket Saurabh — Analyst
Kaustav Bubna — Analyst
Presentation:
operator
Ladies and gentlemen, good day and welcome to Oriental Aromatics Limited Q3 and 9 month FY26 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 this conference call please signal an operator by pressing Star then zero on your touchstone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Purwangi Jain from Valorem Advisors. Thank you. And over to you ma’. Am.
Purvangi Jain — Analyst
Good afternoon everyone and a very warm welcome to you all. My name is Parvangi Jain from Valorum Advisors. We represent the investor relations of Oriental Aromatics Ltd. On behalf of the company I would like to thank you all for participating in the company’s earnings conference call for the third quarter of the financial year 2026. Before we begin let me mention a short cautionary statement. Some of the statements made in today’s earnings call may be forward looking in nature. Such forward looking statements are subject to risks and uncertainties which which could cause actual results to differ from those anticipated.
Such statements are based on management’s beliefs as well as assumptions made by and information currently available to the management. Audiences are cautioned not to place any undue reliance on these forward looking statements in making any investment decisions. The purpose of today’s earnings call is purely to educate and bring awareness about the company’s fundamental business and financial quarter under review. Now let me introduce you to the management participating with us in today’s earnings call and hand it over to them for their opening remarks. We have with us Mr. Dharmal A Boudani Chairman and Managing Director Mr.
Shyamal A Boudani, Executive Director Mr. Girish Khandelwal, Chief Financial Officer Mr. Parag Satoskar, Chief Executive Officer and Ms. Kiran Peep Gill Karl Company Secretary. Without any further delay I request Mr. Dharmal Budhani to start with his opening remarks. Thank you and over to you sir.
Mr. Dharmil A. Bodani — Managing Director
Thank you Purvangi. Good afternoon everyone and welcome to our earnings fun call to discuss the performance of the third quarter of financial year 2026. Our executive director Mr. Shyamalay Boudani shall be briefing you all on the operational highlights for the first quarter after which our CFO Mr. Girish Khandelwal will brief you on the financial highlights. Over to you Shaman. Thank you.
Mr. Shyamal A. Bodani — Executive Director
Thank you Dharmal. Good afternoon everyone and welcome to our earnings con call to discuss the performance of the third quarter of the financial year 2026 let me begin by connecting the dots with what we had shared with you over the last two quarters in Q1 and Q2 we had clearly stated that the industry was operating in a profit in soft pricing environment on the aroma ingredients and terpene chemicals side of our business and that our strategy would be to protect and grow volumes, deepen customer relationships and expand market share. While we have executed internal cost and process programs and ramped up Mahad, that is exactly what we have continued to do.
In quarter three, the performance of the fragrance division continues to be very strong and sustainable. Benefits from a softer pricing of raw materials and new wins with existing customers and new customers being added. Q3 is typically a more normalized quarter after the festive peak and every year we see a sequential cooling off in certain categories, most notably in camphor and at times in select aroma ingredients and fragrances. This year too we saw sequential softness with lower demand in specialty aroma ingredients and fragrances and a sequential decline in camphor volumes in line with historical seasonal patterns.
However, what is encouraging is that the underlining year on year direction remains positive. Production increased 3% year on year and sales volumes increased 10% year on year for the quarter. From an operational standpoint, our plantwise numbers reinforced this picture clearly. In Q3 total production was up 3% year on year. Total sales were up 10% year on year even though sales were down sequentially versus Q2 due to the post festive normalization. Bareilly sales were up 27% year on year despite being down subsequentially which is consistent with the seasonal curve. Ambarnath our fragrance division sales were up 4% year on year.
Baroda, where we produce aroma ingredients continues to show resilience on production up 15% year on year while the broader specialty ingredients market remains competitive and price sensitive. Mahad continues its early ramp up trajectory and remains strategically important. It is still in the stabilization phase and we have always guided that it would take a few quarters to reach optimal utilization. On the financial side, Q3 revenues from operations was 252.03 crores and our EBITDA margin for the quarter stood at 5.26%. EBITDA moderation in Q3 reflects three realities we have been transparent about with the investor community. Pricing remains under pressure, especially in ingredients in what is still a buyer’s market.
Mahat being a greenfield facility in ramp up continues to be a near term drag on consolidated profitability, an effect we expect to reduce progressively as utilization rises and fixed costs get absorbe better. Consistent with what we have discussed earlier in quarter 2 Q3 demand mix is typically less favorable than Q2 given the seasonal cycle. Importantly, when you step back and view performance the way global peers encourage investors to view it over a long arc rather than a quarter to quarter noise, the trend is reassuring. For the nine month period we delivered 11% growth in production and 10% growth in sales volume versus last year.
This is the clearest indicator that our focus on sales maximization, penetration and customer retention is working even in a tough pricing environment. We are also maintaining balance sheet discipline. Net debt to Equity stands at 0.65x as of 31st December 2025 which keeps us well positioned to fund growth while managing volatility. As we look ahead, our priorities remain unchanged and very clear. Protect and grow volumes and market share across camphor fragrances and specialty aroma ingred. Execute process improvements and cost programs to rebuild margins structurally independent of pricing cycles. Accelerate Mahad’s commercial ramp up so that what is a temporary drag becomes a meaningful driver of growth and profitability.
To summarize, Q3 is seasonally and structurally a different quarter versus Q2 and this year too we saw a sequential softness yet we delivered positive year on year volume growth, healthy nine month trends and continued execution on the strategic building blocks that will improve margins as Mahaj stabilizes and the pricing cycle turns. Thank you. I will now hand over to our CFO Mr. Girish Khandelwal for the financial highlights.
Mr. Girish Khandelwal — Chief Financial Officer
Thank you very much Shamal. I would like to welcome you all to the conference call. Let me begin by sharing our consolidated performance for the quarter. Operating revenue for the quarter stood at rupees 252 crore reflecting a growth of approximately 13% year on year. EBITDA for the quarter was reported at rupees 13 crore compared to rupees 23 crore in the corresponding quarter. The EBITDA margin to date 5.26%. Net loss for the quarter was rupees 1.92 crore as against net profit of rupees 7.14 crore in the same period last year. The profit after tax margin for the quarter stood at minus 0.76%.
Now moving on the consolidated performance for nine month FY 2026. The operating revenue for nine month FY 2026 was rupees seven hundred and forty eight crore representing a 11% year on year increase. EBITDA for the period stood at rupees 49 crore compared to rupees 73 crore in the corresponding nine months. The EBITDA margin was 6.49% as against 10.85% in the corresponding period. Net loss for nine months FY 2026 was rupees 0.67 crore. Compared to net profit of rupees 32.90 crore in nine months 2025 with MAT margin stood 8 minus 0.09%. As on December 31st December 2025.
The net debt equity ratio stood at 0.65x. And the cash profit for the nine months 2026 was 22.65 crore. With this we can now open the floor for the question and answer sessions. Thank you.
Questions and Answers:
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 the Touchstone telephone. If you wish to remove yourself from the question queue you may press star and 2. 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 Rajesh Mishra from Debauchee Security. Please go ahead.
Unidentified Speaker
Yes, rajesh.
Unidentified Participant
Yes sir. [Foreign Language]More than 200 metric ton per month import.[Foreign Language]
Unidentified Speaker
[Foreign Language]Disturbing instance here. Point number one. Point number two. Other manufacturers he import or buddy Gambir situation here but your China say import normally last time. Natural camper import quality.[Foreign Language] Internally Hamari process optimization say process improvement [Foreign Language] profitability. [Foreign Language]But process improvement or profitability improve.[Foreign Language]
Unidentified Participant
Thank you sir.
Unidentified Speaker
Thank you.
operator
Thank you very much. Participants who wish to ask a question may prestar and 1. The next question is from the line of Costa from BM spl. Please go ahead.
Unidentified Participant
Yeah. Hi. Wanted to understand what is the exposure to North America for our company and how much have number finances been impacted due to the tariff situation and if you can quantify it somehow the exposure and what’s your view on this trade deal and how does that benefit a company like us?
Unidentified Speaker
Is your name Kaustubh? Did I get it right?
Unidentified Participant
Yeah.
Unidentified Speaker
Okay, great. So Kaustubh primarily I wouldn’t be able to give you the exact numbers but Girish, correct me if I’m right. The last time we checked between 16 to 20% of our sale are oriented towards America. Point number one. Point number two. I think the major impact because of this positive trade deal is if you historically look at the American market it is driven by having material in inventory and because of the uncertainty the American customer was buying hand to mouth and hence the. What used to normally stay at the inventory level was the loss in sales.
I think that’s slowly started opening up because nobody still has the final draft of the of the tariff reduction program and how it’s going to be implemented. But we are seeing positive signs in terms of, in terms of customers coming back and placing orders which will definitely have a positive impact on sales.
Unidentified Participant
But if you could explain that part again where your current financials, your nine month financials.
Unidentified Speaker
Yes.
Unidentified Participant
Has there been, what type of impact has there been on these financials because of the tariff uncertainty that existed in that time period?
Unidentified Speaker
So, so I will not be able to quantify exactly what has been the impact on the nine months financials. But, but I would have said that we would have very easily expected to have 6 to 9% more sales in these nine months had the tariffs not been there or there was clarity in terms of the eventual landed cost for an American customer coming from goods from India and or China.
Unidentified Participant
Just to further add.
Mr. Dharmil A. Bodani
Can you hear me? Hi, this is Darman. I just want to further add that there is, I mean look, if you come down in duty structure from where we were to where we are today, that obviously makes or gives a sense of stability to our buyers in North America and gives them a clear idea of where their cost structure of the landed material is going to be. So they have obviously not bought and built stocks because they had no idea whether the tariffs would continue to go up, go down. So there was a lot of uncertainty.
So if you’re asking us a forward looking question on the impact of this trade deal that we’ve had with the United States, it’s extremely positive. I think it’s in the right direction and I think if America starts looking back at India and buying again and building stocks, I think we are going to be seeing much better days ahead than we have so far.
Unidentified Participant
Thank you. And just a follow up question on when you talk about return of pricing power, you mentioned pricing is still weak. Just could you explain the China angle? Once.
Mr. Dharmil A. Bodani
In our industry there’s a 14% duty difference between the Chinese and the companies like mine. So if you just look at that difference that gives us some hope in terms of pricing power and I think the pricing power that when we talk about pricing power what we are referring to is we are net. I mean we are importing most of our materials to process and re export. So if the UT structures is changed, if the Indian companies are again competitive in North America, what will happen and we hope will happen that if petro goes up, if naturals go up, if there is a general shift in the starting raw materials that we use for our industry, then we will see an opportunity to have better realizations Meanwhile, what we do and continue to do is improve on our processes and hope to see movement upward.
Unidentified Participant
Yeah, just you know, because in your opening comments you had mentioned that long. If you look at long term numbers, we are happy with our performance. But you know, like we are back to almost back to 2008 FY18, EBITDA levels.
Mr. Dharmil A. Bodani
Absolutely. And the aroma chemical prices are even lower than the 2018 results that you are referring to. So we feel internally we have bottomed out as far as chemical prices are concerned.
Unidentified Speaker
Can I also probably add Kausto that it’s not so linear in terms of the functioning of the business between 2018 and 2026. We see a completely different oriental where we have a large range of materials. These materials are used by our fragrance division. We have internalized our formulated camphor. So a lot of things have been, have been, are now ready for action when the opportunities come.
Unidentified Participant
Okay. Okay. That’s the plan.
operator
Thank you ladies and gentlemen. If anyone wishes to ask a question, you may press Star and one on your touchstone telephone. The next question is from the line of Jai Jain, an individual investor. Please go ahead.
Jai Jain
Hello. Hi sir. Thank you for the opportunity. I just wanted to know the outlook on the revenue side of how much growth we can expect by the end of this fiscal year and also for the next.
Unidentified Speaker
So I mean we always like to be cautiously optimistic. And you know, Shamal in his opening speech has already highlighted in terms of the sales and in terms of the production, the growth that we have achieved. I think these last three months is going to only reiterate and reinforce that growth structure. So we are looking at anywhere between 8 to 10% growth in sales for this year. Definitely not a big fan of projections. So we are pretty solid in terms of our order book for H1 2026. The process, the plan is now to execute all these and continue in the same trajectory.
operator
So we lost the line. We’ll move on to the next participant.
Unidentified Speaker
Okay.
operator
The next question is from the line of Manasvi Gupta, an individual investor. Please go ahead.
Manasvi Gupta
Hi, I just had a small question. Why was there a decline in the margins and when can we expect them to stabilize?
Unidentified Speaker
So Manasvi, just to. If you look at, if you look at the Q3 numbers per se, historically, Q3, since we have a product mix where you have camphor, which is a very Strong seasonal product, Q3 normally tends to be a little softer than the Q2, which is more of the festive season. So it’s not surprising. Point number one, point number two. Similar Seasonality also happens in some of the fragrance part of our business and hence. And the third element is the geopolitical situation which was kind of restricting the American buyers because of the uncertainty in in the tariffs and because of fix all the focus on sales was for the global suppliers was on Europe.
So even the European buyers were slow because they felt that there was too much of material in the market. Having said that, now that on both sides of the Atlantic we have positive news where the EU trade deal will help as well as the tariff reduction will show increase increase in sales in America. Both these factors should be a good catalyst for the coming quarters to show us increased sales and hence profitability.
Manasvi Gupta
Okay, thank you so much. That’s all from my side.
Unidentified Speaker
Thank you.
operator
Thank you very much. Participants who wish to ask a question may Press Star and 1. The next question is back from Jai Jain, an individual investor. Please go ahead.
Jai Jain
Hello.
Unidentified Speaker
Yeah,
Jai Jain
hi sir. Thank you again. Any international partners with big fragrance and aroma players like the other competitors are doing?
Unidentified Speaker
Sorry Jay, can you repeat your question please? I mean we lost you in the middle.
Jai Jain
Sure. I just wanted to know like if Oriental is planning some JVs with big fragrance and aroma players like the peers are doing.
Unidentified Speaker
I think we are very happy with the way the structure of the business is as on today. I mean most of our plants on the aroma ingredient size are running at capacity. Camphor powder sales as well as formulated camphor sales look very encouraging. The fragrance division is benefiting from the overall reduction in the raw material cost. So as of now we stay in the holding pattern and we continue with our business. If there are any opportunities that come in the future, we will definitely explore them based on the merit.
Jai Jain
And one more question, sir. Any other new products you are planning for the upcoming fiscal.
Unidentified Speaker
So like we have mentioned in our initial in our past investor calls, 2020, 25, 26 financial year was a year of consolidation where we are looking at where we are looking at our current range of products, looking at areas where we haven’t reached and trying to build markets over there, stabilize our Mahad infrastructure. So these were our primary outline. I mean as a company we have an extremely, extremely strong R and D program which is driven by our perfumery division acting as a beacon for our ingredients division. So we have a very strong pipeline which we normally don’t talk about.
As and when the opportunities come, we will be in a position to A launch them commercially and B inform you guys.
Jai Jain
Sure. Thank you.
Unidentified Speaker
Thank you.
operator
Thank you very much. The next question is from the line of Rohit Kumar, an individual investor. Please go ahead.
Rohit Kumar
Hello. Yeah, hello sir. Can you give me an outlook for. The special specialty arma industry? Hello?
Unidentified Speaker
Yes. So again, the specialty aroma ingredients industry primarily is extremely broad based. If you look at the overall industry that lies in this space, it continues to grow. I’ll bet there are also many companies who are trying to look at this particular part of the fragrance business as an opportunity to grow. Hence companies which are able to kind of develop these products using some uniqueness in terms of the processes or some uniqueness that they get on the table in terms of chemistry or engineering, we continue to be ahead of the others. I mean, just to answer briefly, the specialty aroma ingredients business continues to grow.
Looks strong, but is also crowded.
Rohit Kumar
Yeah, Hello. That is. Thank you.
Unidentified Speaker
Thank you,
operator
thank you. Participants who wish to ask question may press star and one on the touchstone telephone. The next question is from the line of Saket from Sagari Capital. Please go ahead.
Saket Saurabh
Thanks for the question. So one quick question. So while I appreciate the management has been conservative in its outlook, but somehow even then the performance and sorry if I’m being too critical here, but in my humble opinion, the performance still has been below expectations. So what is the now new reset for the EBITDA? Because initially we were even hoping that, you know, 8 to 10% would materialize, but that even seems to be a distant dream. And second part is around this Mahat thing, right? Initially we are thinking that, you know, 200 would be a good days, would be a good stabilization period.
But even after one year, now if I look at the difference between say standalone and consolidate, since there was a negative contribution from all around the top line, but bottom line was anyways, I think the losses are mounting, which is understandable. So what exactly is the issue with Mahat? Is that the product, the plant has not stabilized or there are some teething troubles or with machinery or something because there has been no revenue so far. So these would be, that would be, you know, my question, you know, where should we look at our EBITDA, even say at least for the Q4 and then we can take it from there.
Unidentified Speaker
So for Saket, to answer your first question, I think a, when you are in the generic ingredient space, you know, a lot of the actions that you take and lot of the projected outcomes that you might have, you know, there, there might be a bit of a gap in terms of, in terms of achieving them. And unlike some other industries where the outcomes are relatively faster, especially when you look at the chemical industry and when you look at say something like Mahat which was a very large site which has been taken or acquired with future in the plan, we have ended spending money which was little more than what we would have spent if we would have just built the Evermores plant in some of our other sites.
Point number one. So I think if you are going to probably look at a process of and which is what Shamal mentioned in his speech, that what we are trying to create is a sustainable infrastructure which will continue to churn out products for a long period of time, especially Q3, especially geopolitical. If you just add all these factors up and look at the EBITDA movement. I mean a lot of the companies who are in this space also have shown a similar kind of movement. So to answer your question, Mahad will take its time, it’s taking a little while longer and that’s beyond our control.
What is in our control is to ensure that we continue to move in the positive space which we are and we will give you. I mean whether it is 8 to 10, whether it is less than 8, where it will stay something which only time will tell. We are pretty confident about our business model and we are not looking at it specifically from a quarter to quarter perspective, but from a long term sustainability perspective when opportunities are back in the market.
Saket Saurabh
And how is that FMCG initiative doing? Because see the margins remain on a downward trajectory. So in that strategy has it is it really working out or it is still subscale for it to add meaningfully or in fact or maybe even it is contributing negatively because there might be some advertising spend or distribution expenses. So what you see and none of the strategy seems to be working for our way. That is the limited point. Right. But I understand maybe that’s a long term part but still able look at even if you look at the last three years now, three to four years now how when the performance has not really kicked in and we were positioned as such specialized people who were looking at individual chemistry capabilities. So something either the business model has been struggling. So can you update on that FMCG bit I requested for that in the ppt. But this time the PPT hardly has anything for us to really connect with the company on the long term frame. Very simple or just state of basic facts.
So not really as an investor I think there could be a bit more explanation just to help us understand how our company is doing. So anything on the fmcg, sir?
Unidentified Speaker
Sure. So I think I will take your note on the presentation side. You know we had an internal discussion of the subject. It’s still work in progress. Point number one. Point number two, I think the FMCG segment of the business continues to stay stronger. We all have to be, we all have to also be mindful that the FMCG part of our business is in Camphor which as a product is very much under pressure in terms of the, in terms of the profitability. Hence, you know, the, the normal outcome that we should see in that piece of our business.
We are unfortunately unable to kind of capitalize on it. But like I said that we are currently focusing on customer retention, we are focusing on sales maximization and we are very confident that the opportunities will come. I mean if you look at the past two or three years, the past two or three years have been very asset creation heavy and all these assets are now on the ground. And so now it’s our job to ensure that they get filled up and are sold to capacity, which is what we are doing. So we are pretty confident if that has not been translated in our ppt, we will make an attempt to probably make a better one next time.
Saket Saurabh
I would prefer translating to the numbers. I think mainly the PPT part was just to educate us about FMCG because that’s not necessarily a very confidential area. And some of the other companies who are into that Camphor branding at least give us, these are the new launches that we are doing. Even because even Amazon or say digital, say E commerce companies, there’s very limited listing of three fines. Other companies have now different varieties of camper offerings, right from room fresheners to gifting packs. So the innovation is very much visible there. Right. In our case.
Unidentified Speaker
Just to sake, just to answer your question, you know, I am not going to discuss my FMCG sales strategy with you on the investor call. Point number one, I think all the positive points that you have said, we have taken it into, into a note and we will try to definitely place it in our presentation. If you look at, if you look at the fine print of Shamal’s speech, it says very clearly that we are currently in a sales maximization mode. And if you look at the sales number and if you look at the production number for nine months or for year on year, we are achieving our targets.
We are not going to go and oversell in a market where the pricing is not correct and hence we are waiting and watching the situation. Everything that goes down has to go up. We are already seeing some green shoots because of the American market opening up. So as quarters go, I can only tell you two things. Things will happen and that is what we believe in working.
Saket Saurabh
Okay Sadna, thank you and appreciate for and apologies if I was hard at anyone.
Unidentified Speaker
Thank you. Thank you sir. Thank you. Thank you.
operator
Thank you very much sir. Participants who wish to ask a question may press star and one on the touchstone telephone. The next question is the follow up question from Costa Gubna from BM spl. Please go ahead.
Kaustav Bubna
Yeah, thanks again. So wanted to understand what is the total capacity at Mahar? Which markets are we going to be in terms of what would be the ideal domestic export split that we target at this from Mahar? And I mean post the how long do you think we’ll take to reach 75, 70, 75% utilization in this facility? And then what is the total, what is the management’s plan for total capacity at Mahar post? I mean what’s the broader plan in terms of how big, including brownfield, etc.
Unidentified Speaker
So Kaustoph, I think a lot of these questions have been answered by us very specifically in our previous calls. But I will probably try to kind of summarize them. The Mahat facility or the Mahat site that we have is a 18 acre site. So we have currently only implemented phase one. But when we had to implement phase one we had to do the land development for the whole site and that took up a substantially large chunk of the investment that was done there. Point number one. Point number two is we are looking at a split of anywhere between 30 to 70, 30 local and 70 exports percent in terms of the 250 tons that we have kind of earmarked for this particular plant which will help us get into the profitable zone.
You know, we already have reached around. I mean to be very honest, the real production in that plant has only started from June 20th. So in seven months we are already seeing that the plan is plant is running at anywhere between 30 to 35% of its capacity. And like I had mentioned in my previous call that there is a six month cycle between a sample submission and getting the approval for commercial shipments. And assuming that the plant started in June and we started our first commercial sampling for the global customers in August and September, I think the next two quarters should see Mahad getting into some level of.
Some level of independence. Point number one. And this is not something which is new for us because between 2018 and 2026 we have had multiple plants in very large sites, all of them Brown Seas though where we have commissioned the plants and then within a period of 1000 days have moved to the expected sales level. Now in this case there was a slight aberration because of one year lost in the whole geopolitical confusion that’s happened globally.
Kaustav Bubna
Yeah, exactly, exactly. So that’s. Yeah. Thanks. And just one clarification on camphor. Is camphor purely domestic? Our sales or we have some exposure to Western markets?
Unidentified Speaker
We are the world’s. To the best of my knowledge, we are the world’s. And I stand corrected. We are the world’s only US FDA approved camphor manufacturer. Point number one. We also have WHO and GMP certified camphor. So I don’t have the exact, exact number of exports, but we play a very large role globally in the pain management space when it comes to the medical side of the camper.
Kaustav Bubna
Your camphor business could also be impacted by the US tariff situation and what’s happening in Europe because of.
Unidentified Speaker
So I think what we will have to do is we will have to probably lay to rest the whole U.S. tariff situation because I think that. Gone. So no rear view mirror. Yes, it was impacted to an extent, like I said, because for a brief period of six to eight months, India and China were probably for a US customer placed at the same level of tariffs. You know, India always had that advantage of between, like dharmal said, between 25 to 28%. And then suddenly we found that we, we found that we were at the same level as China.
Whereas now when we are scaled back to 18%, we will now retain that 20% which is needed, especially in the American market because of the certain advantages that a Chinese manufacturer has. So I think just to answer your question in a very short way, I feel that we have to put the tariffs to rest. We have to now look forward and we have to take the advantage of this situation and grow the.
Kaustav Bubna
Thank you so much for the detailed answers. Thank you.
Unidentified Speaker
Thank you. Thank you.
operator
Thank you very much, sir. Participants who wish to ask a question may press star and one on the Touchstone telephone. As there are no further questions, I now hand the conference over to Mr. Dharmel Boudani from Oriental Automatics Ltd. For the closing comments.
Mr. Dharmil A. Bodani
Thank you all for participating in this earnings conference call. I hope we have been able to answer your questions satisfactorily. If you have any further questions or would like to know more about the company, please reach out to our IR managers at Valorum Advising. Thank you.
operator
Thank you. On behalf of Alurum, on behalf of Oriental Aromatics Ltd. That concludes this conference. Thank you for joining us. You may now disconnect your lines.