STYRENIX

Styrenix Performance Materials share price & financials

Price
₹2,312.9
Market cap
₹3.9k Cr
Sector
Chemicals
Calls analysed
7
Latest concall · Q1 FY27 · call held 05 Aug 2026

Styrenix Performance Materials Limited Q1 FY27

Consolidated EBITDA ₹223.6 cr Consolidated EBITDA Margin 22% Consolidated PAT ₹138.3 cr Consolidated PAT Margin 13.6%

What went well

  • Stand-alone total income grew 6.6% YoY to INR 770.5 crores.
  • Stand-alone EBITDA grew 133.9% YoY to INR 201.4 crores.
  • Stand-alone EBITDA margins expanded by 1,420 basis points to 26.1%.

What to watch

  • Stand-alone sales volume dipped 26% YoY to 38.9 KT.
  • Consolidated sales volume (India and Thailand) was 50.8 KT.
Read the full call →

What Styrenix Performance Materials Limited does

Styrenix Performance Materials manufactures engineering polymer resins, principally ABS (Acrylonitrile Butadiene Styrene) and SAN (Styrene Acrylonitrile), alongside polystyrene (GPPS/HIPS) and specialty blends (ASA, and ABS/HIPS blended with PC, PMMA and Nylon). It sells these resins as raw material inputs to manufacturers across automotive, electronics, household appliances, healthcare, packaging, cosmetics and stationery/toys industries. The company is backward integrated, producing its own HRG rubber, a key feedstock for ABS, and runs an in-house R&D and colour-development centre to create customised grades for customers. Following the 2025 acquisition of INEOS Styrolution's Thailand operations, it now manufactures both in India and at Map Ta Phut, Thailand.

Segments

  • ABS
  • SAN
  • Polystyrene
  • Blends & specialty polymers
  • Rubber (HRG)
Manufacturing facilities
5 (4 in India, 1 in Thailand)
ABS installed capacity
1,00,000 TPA at Moxi (India) plus 85,000 TPA at Map Ta Phut (Thailand)
SAN installed capacity
1,00,000 TPA at Katol (India) plus 1,00,000 TPA at Map Ta Phut (Thailand)
Polystyrene installed capacity
1,00,000 TPA at Dahej, India
HRG rubber installed capacity
27,000 TPA at Nandesari (India) plus 31,000 TPA at Thailand
Sales offices
10+ across geographies including India, Japan, South Korea, Vietnam, China and Thailand
Founded 1973Headquarters Vadodara, Gujarat Company website

Guidance record · Q1 FY27

what the last two calls moved 13 tracked 0 delivered 5 missed 8 open
  • India Business Volume Growth missed said Q3 FY25 Promised: 15-20% Q1 FY27: Promise for FY26 was missed. Q1 FY27 standalone volume saw a 26% YoY decline, continuing the negative trend.
  • Thailand Revenue Potential at risk said Q1 FY26 Promised: increase revenue by close to 70% to 80% additionally at peak utilization Q1 FY27: Management states it will take time for volumes to pick up and it's 'virtually impossible' to give demand scenarios.
  • ABS Phase 1 Capacity Expansion on track said Q3 FY25 Promised: 50 KT ABS capacity by middle of 2026 Q1 FY27: Will happen in this financial year (FY27), but commissioning is tricky; no specific month given.

All 13 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 6.5%, net profit up 149.1% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue653 691 702 721 615 −6%648 −6%656 −7%768 +7%
EBITDA99 74 82 84 79 −20%75 +1%124 +51%199 +137%
Net profit70 48 53 55 51 −27%44 −8%84 +58%137 +149%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −20.2% 1Y

₹1.8k₹2.0k₹2.2k₹2.4k₹2.6kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 12 Nov 2025Q3 FY26 — 2 Feb 2026Q4 FY26 — 15 May 2026Q1 FY27 — 5 Aug 2026

1Y: ₹2,647.8 on 10 Sept 2025 → ₹2,113.1. High ₹2,647.8 (10 Sept 2025), low ₹1,798 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−0.4%
5 Aug
Q4 FY26
−2.6%
16 May
Q3 FY26
−1.3%
2 Feb
Q2 FY26
+2.0%
12 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 9.0% a year over 2 years, FY24 to FY26. Operating margin widened to 13.7%.

Year endingFY24FY25FY26
Revenue₹2.2k Cr₹2.7k Cr₹2.6k Cr
Operating profit₹264 Cr₹345 Cr₹362 Cr
Operating margin11.9%12.6%13.7%
Interest₹4 Cr₹4 Cr₹5 Cr
Depreciation₹36 Cr₹39 Cr₹48 Cr
Net profit₹172 Cr₹232 Cr₹234 Cr
Net margin7.7%8.5%8.9%
Cash from operations₹216 Cr₹147 Cr₹268 Cr
Free cash flow₹178 Cr₹89 Cr₹174 Cr
ROCE31.0%39.0%33.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹18 Cr₹18 Cr₹18 Cr₹18 Cr₹18 Cr₹18 Cr
Reserves₹871 Cr₹839 Cr₹697 Cr₹705 Cr₹1.2k Cr₹973 Cr
Borrowings₹98 Cr₹52 Cr₹35 Cr₹27 Cr₹328 Cr₹63 Cr
Other liabilities₹326 Cr₹323 Cr₹513 Cr₹288 Cr₹722 Cr₹420 Cr
Total liabilities₹1.3k Cr₹1.2k Cr₹1.3k Cr₹1.0k Cr₹2.3k Cr₹1.5k Cr
Fixed assets₹369 Cr₹343 Cr₹309 Cr₹295 Cr₹898 Cr₹350 Cr
Capital work in progress₹30 Cr₹7 Cr₹12 Cr₹28 Cr₹58 Cr₹102 Cr
Investments₹1 Cr₹1 Cr₹1 Cr₹58 Cr₹10 Cr₹114 Cr
Other assets₹914 Cr₹881 Cr₹940 Cr₹657 Cr₹1.3k Cr₹908 Cr
Total assets₹1.3k Cr₹1.2k Cr₹1.3k Cr₹1.0k Cr₹2.3k Cr₹1.5k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +5.37 pp while the public trimmed −3.51 pp. The shareholder count shrank 4% to 44,820.

Promoters
46.2%
FIIs
0.9%
DIIs
17.4%
Public
35.5%

Since Jun 2025

  • DIIs +5.37 pp
  • Public −3.51 pp
  • FIIs −1.86 pp

How it drifted, 12 quarters

Over this window promoters fell from 62.7% to 46.2% — −16.5 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 62.7%, FIIs 2.3%, DIIs 4.8%, Public 30.2%.Dec '23: Promoters 62.7%, FIIs 2.5%, DIIs 5.0%, Public 29.7%.Mar '24: Promoters 62.7%, FIIs 2.1%, DIIs 5.0%, Public 30.2%.Jun '24: Promoters 46.2%, FIIs 5.0%, DIIs 10.6%, Public 38.2%.Sep '24: Promoters 46.2%, FIIs 3.0%, DIIs 10.3%, Public 40.5%.Dec '24: Promoters 46.2%, FIIs 3.4%, DIIs 11.3%, Public 39.1%.Mar '25: Promoters 46.2%, FIIs 2.5%, DIIs 12.5%, Public 38.8%.Jun '25: Promoters 46.2%, FIIs 2.7%, DIIs 12.1%, Public 39.0%.Sep '25: Promoters 46.2%, FIIs 2.2%, DIIs 12.8%, Public 38.8%.Dec '25: Promoters 46.2%, FIIs 1.2%, DIIs 15.8%, Public 36.8%.Mar '26: Promoters 46.2%, FIIs 0.9%, DIIs 17.3%, Public 35.5%.Jun '26: Promoters 46.2%, FIIs 0.9%, DIIs 17.4%, Public 35.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Styrenix Performance Materials Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Shiva Performance Materials Private Limited 46.24%unchanged
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund6.31%unchanged
Bandhan Small Cap Fund Mutual fund4.38%+0.19 pp
Ikigai Emerging Equity Fund AIF2.43%unchanged
SBI Multicap Fund Mutual fund2.33%unchanged
Enam Investments Private Limited 1.14%unchanged
Vallabh Bhanshali 1.13%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in STYRENIX

Filings to Aug 2026

0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).

Held by funds
₹244 Cr
2 schemes
Biggest holder
Nippon India Small Cap Fund
₹222 Cr · 0.3% of that fund
SchemeHoldingLast month
Nippon India Small Cap Fund Nippon India Mutual Fund₹222 Crheld
SBI Conservative Hybrid Fund SBI Mutual Fund₹22 Crheld

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

0 added, 0 trimmed — net 0 shares (+0.0%)

Funds are sitting on
+78%
vs est. average cost
Held by funds
₹244 Cr
2 schemes · ≈ 7.2% of the company
Biggest holder
Nippon India Small Cap Fund
₹222 Cr · 0.3% of that fund

Shares held by these funds +73%

Aug '23 12.20 L shares Jul '26

What the price assumes

Attractive

To justify its price of ₹2113, this stock must grow earnings at 3% every year for 7 years. Our analysis caps realistic growth at ~16%. At that growth it is worth ₹4378 — upside of 107%.

Growth the price implies
2.7% a year
for 7 years, fading to 4%
It has actually compounded at
16.6% a year
net profit, FY24–FY26 · EPS 16.3%
The gap
-0.1 pp
107% downside if it only repeats history
Price today ₹2,113.1 Value at the reference growth ₹4,378.11

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Styrenix Performance Materials Limited

Guides on how to read this kind of business and the numbers that matter.