Camlin Fine Sciences (CFS) reported Q1FY27 revenues of ₹519.9 Cr (up 28% YoY) but low 4% margins, primarily due to high raw material costs and a one-quarter lag in price pass-through.

Specialty Ingredients saw 6.35% EBITDA, while Aroma had negative EBITDA from cautious Ethyl Vanillin ramp-up and low capacity utilization.

Performance Chemicals' 2.5% EBITDA was impacted by the diphenol plant shutdown.

Management anticipates Q2 improvements with partial price pass-through, a shift to higher-margin Methyl Vanillin, and normalized Brazil operations.

The FY27 EBITDA outlook is revised to 10-12%, with FY28 targeting 12-14%. Debt stands at ₹640 Cr.

Management is confident Q3 will achieve double-digit company-level EBITDA margins.