Chemcon Speciality Chemicals (CHEMCON) delivered a steady start to FY26 despite weak pharma offtake.

Q2 revenue grew 2% YoY to ₹53.7 Cr, with H1 revenue up 9% YoY to ₹107.2 Cr.

Organic Chemicals, driven by HMDS and CMIC, showed resilience despite pricing pressures.

Inorganic Chemicals were impacted by crude oil volatility and reduced oil drilling.

Q2 PAT stood at ₹5.7 Cr, while H1 PAT increased to ₹12.1 Cr.

A significant development is the ₹36 Cr acquisition of Shivam Petrochem Industries, which strengthens Chemcon's product portfolio, adds technical know-how, and provides market access.

Construction of new organic chemical units (P10 & P11) is progressing, with new products expected in coming quarters.

Management anticipates a gradual improvement for new product adoption and expects sustained growth from diversification.

The company is focused on capacity expansion, exploring new applications, import substitution, and achieving cost efficiencies, aiming for healthy growth in Organic Chemicals and moderate growth in Inorganic Chemicals.