Pasupati Acrylon profit nearly doubles on ethanol push
Annual revenue jumped 63% to ₹1,010 cr, with the new ethanol business contributing ₹324 cr. The board has greenlit a ₹25 cr debottlenecking investment to lift capacity.
— 1 earlier story on Pasupati Acrylon Ltd. →What's new
- FY26 revenue grew 63% year-on-year to ₹1,010 cr; net profit nearly doubled to ₹69.92 cr.
- Ethanol, operational since March 2025, contributed ₹324 cr in revenue and ₹33.71 cr in segment profit in its first full year.
- Board approved ₹25 cr capex to expand ethanol capacity from 180 to 240 KL per day via debottlenecking.
Why this matters
The ethanol business is now the engine of Pasupati's growth, delivering almost a third of group revenue in just its first full year. The board's decision to immediately fund a capacity increase shows conviction that the demand runway extends beyond initial expectations.
What we're watching
- Utilisation rates at the expanded 240 KL/day ethanol plant post-debottlenecking.
- Whether the acrylics business can hold its own as ethanol's share of the revenue mix grows.
- Progress on the ₹25 cr investment timeline, given the board just approved it.
The full read
Pasupati Acrylon's FY26 results read like two stories. The legacy acrylics business is the flat one. The new ethanol business is the growth engine. In its first full year of operation since March 2025, ethanol delivered ₹324 crore in revenue and ₹33.71 crore in segment profit. That's almost a third of the company's total ₹1,010 crore revenue, which grew 63% year-on-year. Net profit nearly doubled to ₹69.92 crore from ₹35.38 crore. The board is betting this is just the start. It approved a ₹25 crore debottlenecking investment to lift ethanol capacity from 180 to 240 KL per day - a 33% increase. The clean audit opinion is a formality. The real signal is where the money is going: away from fibres and toward fermentation.
Questions answered
- How much did the ethanol business contribute in its first full year?
- The ethanol segment, operational since March 2025, generated ₹324 crore in revenue and ₹33.71 crore in segment profit for FY26. This was its first full year of contribution.
- What is the board's new capacity expansion plan?
- The board approved a ₹25 crore investment to increase ethanol manufacturing capacity from 180 KL per day to 240 KL per day through debottlenecking. This is a 33% increase in production capacity.
- How did overall company performance change from last year?
- Annual revenue grew 63% to ₹1,010 crore from ₹621 crore. Net profit nearly doubled, rising to ₹69.92 crore from ₹35.38 crore, with earnings per share of ₹7.84.
- What does the auditor's report say?
- The company's auditors issued an unmodified opinion on the financial statements. This is a clean, standard audit opinion without qualifications.
Story so far
All notes on PASUPTAC →- 25 May 2026 · 4:55 PM IST Pasupati Acrylon profit nearly doubles on ethanol push
- 42d ago Pasupati Acrylon's ethanol hit ₹324 cr. Now it's spending ₹25 cr to make more.