Styrenix Performance Materials Ltd
NSE:STYRENIX
Styrenix Performance Materials Ltd
Styrenix Performance Materials Ltd. is engages in the manufacture and sale of engineering thermoplastics. The company is headquartered in Vadodara, Gujarat and currently employs 392 full-time employees. The firm is a producer of Absolac (ABS). ABS is a plastic resin produced from Acrylonitrile, Butadiene & Styrene, used for manufacturing of home appliances, automobiles, consumer durables and business machines. The firm is also a manufacturer of Polystyrene (PS) and ABSOLAN (SAN), which is a polymerized plastic resin produced from Styrene and Acrylonitrile, and mainly used for products, such as lightings, stationeries, novelties, refrigerators, and cosmetic packing. The company is engaged in providing styrenic applications for various everyday products across a range of industries, including automotive, electronics, household, construction, healthcare, packaging, and toys/sports/leisure. Its products include Absolac ABS, Absolac High Heat ABS, Absolan SAN, GPPS, and HIPS. The firm operates its manufacturing facilities at Nandesari, Moxi, Katol and Dahej and research and development center at Moxi in Gujarat.
Styrenix Performance Materials Ltd. is engages in the manufacture and sale of engineering thermoplastics. The company is headquartered in Vadodara, Gujarat and currently employs 392 full-time employees. The firm is a producer of Absolac (ABS). ABS is a plastic resin produced from Acrylonitrile, Butadiene & Styrene, used for manufacturing of home appliances, automobiles, consumer durables and business machines. The firm is also a manufacturer of Polystyrene (PS) and ABSOLAN (SAN), which is a polymerized plastic resin produced from Styrene and Acrylonitrile, and mainly used for products, such as lightings, stationeries, novelties, refrigerators, and cosmetic packing. The company is engaged in providing styrenic applications for various everyday products across a range of industries, including automotive, electronics, household, construction, healthcare, packaging, and toys/sports/leisure. Its products include Absolac ABS, Absolac High Heat ABS, Absolan SAN, GPPS, and HIPS. The firm operates its manufacturing facilities at Nandesari, Moxi, Katol and Dahej and research and development center at Moxi in Gujarat.
Revenue Dip: Stand-alone revenue for Q3 FY '26 declined by 6.2% year-on-year to INR 648.8 crores, mainly on lower finished product and raw material prices.
EBITDA Margins Up: Stand-alone EBITDA margin expanded to 11.7% from 10.9% last year, even as EBITDA itself was nearly flat.
Inventory Losses in Thailand: Significant inventory losses were recorded in the Thailand operations due to a sharp fall in finished goods and raw material prices, impacting consolidated results.
Volume Growth: Stand-alone sales volumes grew 7.6% year-on-year in Q3, helped by both ABS and polystyrene recovery, with consolidated volumes up due to Thailand inclusion.
Thailand Integration: Brand transition from INEOS to Styrenix’s own brands in Thailand required customer revalidation, causing some inventory buildup and temporary margin drag.
Expansion On Track: ABS Phase 1 capacity expansion in India is on schedule for the second half of FY '27, with CapEx of approximately INR 350 crores funded by internal accruals.
Growth Guidance Trimmed: Management signaled that the earlier 12.5% volume growth target for the year will not be achieved, mainly due to sluggish polystyrene demand.
