Platinum Industries Limited (NSE: PLATIND, BSE: 544134) reported strong year-on-year growth in revenue and profit for the December quarter, supported by higher volumes across PVC and CPVC additives and improved operating leverage, according to the company’s investor presentation for Q3 and nine months ended Dec. 31, 2025.
Q3 FY26 performance
On a standalone basis, revenue from operations rose 30.8% year on year to ₹1,026.2 million in Q3 FY26. EBITDA increased 22.0% to ₹162.5 million, while profit after tax grew 18.4% to ₹129.3 million. EBITDA margin stood at 15.8%, compared with 17.0% a year earlier, reflecting a higher raw material cost environment alongside volume growth.
On a consolidated basis, revenue rose 12.0% year on year to ₹1,046.7 million. EBITDA increased 12.7% to ₹157.9 million, and profit after tax rose 7.0% to ₹123.3 million. The consolidated EBITDA margin was 15.1% in the quarter.
Sequentially, revenue and EBITDA improved versus Q2 FY26, supported by better capacity utilization at the Palghar facility and stable demand from pipes, fittings and profiles manufacturers.
Nine-month FY26 snapshot
For the nine months ended Dec. 31, 2025 (standalone), revenue from operations increased 24.6% year on year to ₹3,023.8 million. EBITDA stood at ₹441.1 million, while profit after tax was ₹375.8 million, reflecting continued growth momentum across core product lines.
On a consolidated basis, 9M FY26 revenue rose 7.7% year on year to ₹3,184.3 million. EBITDA was ₹445.3 million, while profit after tax declined to ₹363.9 million from the year-ago period, reflecting higher depreciation and interest costs following capacity expansion.
Product mix and market positioning
Platinum Industries manufactures PVC and CPVC additives, metal soaps and specialty lubricants, serving end markets such as pipes and fittings, profiles, electrical wires, SPC flooring, roofing and packaging. The company said it holds around 13% share of India’s PVC additives market, positioning it among the leading domestic players.
The company highlighted growing traction for lead-free and calcium-organic stabilizers, aligned with regulatory shifts toward eco-friendly solutions in India, Europe and North America. CPVC additives, which carry higher stabilizer dosage requirements than PVC, remain a structural growth driver due to rising demand for hot and cold water plumbing in residential and commercial construction.
Capacity expansion and global footprint
Platinum Industries is executing a greenfield manufacturing facility in Egypt, with 60,000 MTPA capacity targeted to become operational in Q3 FY27. Management estimates the project could generate ~₹300 crore of revenue over three years post-commissioning, supported by proximity to the Middle East, North Africa and European markets, lower logistics costs and government incentives.
The company is also ramping up utilization at its new Palghar Unit 2 facility in Maharashtra, with full operationalization targeted by Q1 FY27. Export contribution currently stands at around 15% of revenue, with management guiding for acceleration as international capacity comes onstream.
Strategy and outlook
Management outlined a multi-year growth plan targeting over 40% revenue growth in FY27 and a 35% CAGR from FY26 to FY29, driven by new capacity, geographic diversification, deeper penetration in existing markets and new product launches. The company is exploring inorganic expansion in Europe, the U.S. and MENA to accelerate market entry and technology access.
Investments continue in R&D (about 1% of revenue) to expand lead-free and organic stabilizer offerings. The company holds patents for stabilizer compositions used in thermostable chlorinated vinyl chloride resin applications.
Summary
Platinum Industries delivered double-digit growth in Q3 FY26 revenue and profit, supported by strong demand for PVC and CPVC additives. While margins moderated slightly due to input costs, operating momentum remained intact. The Egypt greenfield project and Palghar capacity ramp-up provide visibility for medium-term growth, alongside a strategic push into eco-friendly stabilizers and global markets.