Clean Science and Technology Limited — Investor Meet, 11-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Clean Science's Q2 FY26 standalone revenue fell 5% QoQ to INR 206 Cr, down 8% YoY, primarily due to lower sales in established products from intense Chinese competition and demand uncertainty. EBITDA margin remained resilient at 44%. Consolidated revenue was steady at INR 240 Cr. HALS volumes grew 25% QoQ to 260 tons/month with improved material margins to 35%. Performance Chemical 1 (10,000 tons, potential INR 300 Cr revenue) is in chemical trials, targeting commercialization soon and sales in Q4. Management sees challenging market conditions but aims to defend market share and drive growth through new products and HALS exports.