NOCIL reported FY26 revenue of 1,303 Cr, a 6% decline YoY, with net profit at 56 Cr, down 46%, primarily due to domestic pricing pressure.

However, Q4FY26 showed positive momentum: revenue increased 5% QoQ to 330 Cr, and net profit surged 84% QoQ to 17 Cr.

Overall FY26 volume grew 3%, driven by a strong 12% growth in H2. Strategic focus includes the Dahej brownfield expansion (₹250 Cr capex) now in trial production, indicating strong demand visibility.

The company aims to double market share by expanding in Asia, Europe, and the US, leveraging the "China +1" strategy as a reliable non-Chinese supplier.

Management anticipates this positive volume momentum to continue, alongside efforts in Green Chemistry and reduced working capital.