Investor Presentation

**1. Financial Highlights:** VCL's Q1FY26 Operating Revenue hit ₹346.9 Cr (+2.4% YoY). Gross Margin rose to 45.6%, and PAT grew 5.8% YoY to ₹32.2 Cr, with EBITDA Margin stable at 16.1%. Strong margin resilience despite global headwinds. **2. Strategic Initiatives & Growth Drivers:** The company emphasizes margin protection & customer focus.

Strategic capital deployment targets value-added and backward integration, alongside R&D for efficiency.

Management is actively pursuing business development for sustained growth. **3. Business Developments:** Domestic sales propelled a 55:45 sales mix.

Q-o-Q revenue saw a dip due to tariff uncertainties impacting export demand and rising ocean freight costs. **4. Market Position & Competitive Advantage:** As India's largest Chromium & Barium Chemicals manufacturer, VCL holds strong market leadership.

Multi-site manufacturing, global reach (50+ countries), flexible product mix, and process innovations boost its competitive edge and market share expansion. **5. Investor Implications:** Management anticipates market stability and demand recovery post-tariff discussions, suggesting positive growth potential.

While consistent margins and strategic capex are strengths, global trade concerns remain an execution risk to track.