Linc Ltd-$ Q4 FY26 Results

During FY26, we remained focused on strengthening our business fundamentals while advancing strategic initiatives across key markets. Our full year total income stood at ₹55,130 lakhs, broadly stable year on year, while Q4 FY26 total income stood at ₹14,024 lakhs, reflecting a decline of 10.1% compared to the corresponding quarter last year. Q4 income was softer year on year, impacted by two main factors: a moderation in corporate sales against a high prior-year base, and export revenue that was dampened by geopolitical uncertainty across certain international markets. Corporate orders are inherently project-driven and timing-dependent; their variability is a feature of the segment, not a structural shift. Export challenges similarly reflect external, transient pressures rather than any loss of market positioning. EBITDA for FY26 stood at ₹6,778 lakhs, with an EBITDA margin of 12.3%, reflecting a decline of 31 basis points over the previous year. For Q4 FY26, EBITDA stood at ₹2,035 lakhs, with an EBITDA margin of 14.5%, representing an improvement of 89 basis points year on year. Profit after tax for FY26 stood at ₹3,274 lakhs, translating into a PAT margin of 5.9%, while Q4 FY26 PAT stood at ₹1,046 lakhs with a PAT margin of 7.5%. The factors that shaped Q4 continue to be present. Corporate order comparables remain challenging in the near term given the strong prior year, and export demand visibility remains limited in some markets due to continued geo-political concerns. Polymer prices, our principal raw material have also risen due to supply-side disruptions, and given competitive dynamics, immediate full pass-through in pricing is not feasible. We are navigating these conditions through disciplined cost management and expect them to progressively ease over the course of the year. Our international growth initiatives continue to advance steadily. The Mitsubishi Pencil joint venture is gaining encouraging traction, the Turkey joint venture continues to witness healthy demand, our Morris Korea partnership remains on track. Our Kenya subsidiary continues to build momentum, while Linc On is expected to contribute meaningfully from FY27 onwards. Reflecting our commitment to sustainable shareholder returns, the Board has recommended a dividend of ₹1.50 per share, subject to shareholder approval, representing a dividend payout ratio of around 27% on consolidated profit. While the ramp up across certain initiatives has taken longer than initially envisaged, we believe the foundations being built are robust and deliberate. The benefits of an improved product mix, enhanced operational efficiency, and deepening strategic partnerships are expected to become increasingly visible as near term headwinds recede. We remain focused on disciplined execution and on positioning the business for sustainable long term growth.