• FY 26 Consolidated Revenue from Operations Stood at 136.07 Crore
  • FY 26 Consolidated PAT was at 7.25 Crore, PAT Margin stood at 5.32%

Mumbai, Maharashtra: Ducol Organics & Colours Ltd (NSE: DUCOL), Involved in development, manufacturing, marketing and distribution of wide range of dispersions & master batches primarily to industries such as paints, ink, textile, rubber, plastic, paper and FMCG. The Company has announced its audited financial results for the second half and full year ended on 31st March 2026 in the Board meeting held on 19th May, 2026.

Key Financial Highlight: –

 ConsolidatedStandaloneConsolidatedStandalone
Particulars ( Rs. Crore)H2 FY26H2 FY26H2 FY25FY26FY26FY25
Revenue from Operations71.5542.7838.77136.0783.9677.35
EBITDA*8.796.082.8714.599.847.28
EBITDA Margin12.29%14.22%7.41%10.72%11.73%9.42%
PBT5.873.063.008.954.496.20
Adj. PBT7.054.233.0011.356.696.20
PAT**4.432.362.117.254.064.62
PAT Margin6.19%5.51%5.44%5.32%4.83%5.98%

*excluding other income; **impact on PAT due to additional finance cost for acquisition financing and one-time due diligence cost

Key Highlights :

  • FY26 marked a transformational year for the Company, with consolidated performance benefiting from the strategic acquisition of Bitumag Industries, a subsidiary of Ducol. The acquisition, completed during FY26, significantly contributed to scale and profitability, particularly in H2 FY26. Standalone operations also showed stable organic performance.

Consolidated Performance Highlights: – For the half year ended March 31st, 2026:

  • Revenue from Operations stood at Rs. 71.55 crore in H2 FY26. Standalone Revenue stood at Rs. 42.78 crore in H2 FY26 as against Rs. 38.77 crore in H2 FY25, Y-o-Y increase of 10.34% on standalone basis and 84.55% on consolidated basis. The consolidated revenue includes revenue from Bitumag operations
  • EBITDA (excluding other income) for H2 FY26 was Rs. 8.79 crore. Y-o-Y increase of EBITDA on consolidated basis was 206.21% and standalone basis was 111.86%. This is mainly due to operational efficiencies and economies of scale
  • EBITDA Margin for H2 FY26 was 12.29%
  • H2 FY26 PAT stood at Rs. 4.43 crore, including contribution from Bitumag operations
  • H2 FY26 PAT Margin was 6.19%
  • Incurred additional finance costs of Rs. 1.17 crore in the second half of FY26 on account of acquisition of Bitumag Industries Pvt Ltd related borrowings; margins are expected to improve as the debt is repaid.

For the full year ended March 31st, 2026:

  • Revenue from Operations stood at Rs. 136.07 crore in FY26. Standalone Revenue stood at Rs.83.96 crore in FY26 as against Rs. 77.35 crore in FY25, Y-o-Y increase of 8.54% on standalone basis and 75.91% on consolidated basis. Consolidated revenue includes revenue from Bitumag operations as well.
  • EBITDA (excluding other income) for the full year FY26 was Rs. 14.59 crore
  • EBITDA Margin for FY26 was 10.72%
  • FY26 PAT stood at Rs. 7.25 crore. Standalone PAT stood at Rs. 4.06 crore in FY26 as against Rs. 4.62 crore in FY25. While standalone PAT declined by 12.28% YoY, consolidated PAT increased by 56.68% YoY. The decline in standalone PAT was primarily on account of additional finance costs of ₹2.20 crore arising from acquisition-led borrowings and one-time due diligence expenses of ₹0.38 crore
  • FY26 PAT Margin was 5.32%

Management Comment:

Commenting on the result, Mr. Aamer Ahmed Farid, Managing Director, Ducol Organics & Colours Ltd. said, “We are pleased to report a strong performance in H2 FY26, with healthy growth witnessed across both our standalone as well as consolidated businesses. The momentum during the period was driven by robust volume growth across segments, improving demand conditions, deeper customer engagement, and the benefits arising from our expanded product portfolio following the integration of Bitumag Industries.

Our consolidated as well as standalone revenues and volumes have shown encouraging growth, reflecting the strength of our core business and the successful integration of the acquired operations. We are particularly encouraged by the manner in which the Bitumag integration is progressing, with the positive impact now becoming increasingly visible across both our financial and operational performance.

During the period, EBITDA margins remained healthy and well within our targeted range, supported by operational efficiencies, improved capacity utilization, and disciplined cost management. Profitability at the PAT level, however, was impacted by certain one-time acquisition-related expenses as well as finance costs associated with the acquisition funding. These costs are transitional in nature and aligned with our long-term growth and diversification strategy.

The successful integration of Bitumag validates our strategic direction of expanding beyond pigment dispersions and building a diversified specialty and construction chemicals platform. Our continued focus remains on strengthening our presence across waterproofing, allied construction chemicals, and adjacent specialty chemical segments, while leveraging synergies across our existing customer base to enhance wallet share and deepen customer relationships.

We are also pleased to share that the acquisition of Xchem Polymer India Pvt. Ltd. is nearing completion, and we are excited about integrating the business into the Ducol platform going forward. We believe Xchem will further strengthen our product portfolio, enhance our market reach, and create additional cross-selling opportunities across existing and new customer segments.

Going forward, while inorganic expansion will continue to remain an important strategic lever, we also see strong opportunities through partnerships, distribution alliances, and collaborative market expansion initiatives. We believe such partnerships will help accelerate market access, strengthen international presence, broaden product offerings, and create scalable growth opportunities with lower execution risk. As we move ahead, our focus will remain on driving scale, improving operational efficiencies, increasing capacity utilization, expanding our international footprint, and enhancing profitability across businesses. We remain confident that our diversified product portfolio, strong customer relationships, strategic partnerships, and growth initiatives will enable us to create sustainable long-term value for all stakeholders.”