Indian speciality chemicals manufacturer Vipul Organics Limited has reported robust performance in the third quarter (Q3) of fiscal 2025-26 (FY26) ended December 31, 2025, with a revenue of ₹4,637.57 lakh (~$5.11 million), an increase of 11.65 per cent year-on-year (YoY). On a quarter-on-quarter basis (QoQ), revenue rose sharply by 16.92 per cent.

The profit after tax (PAT) for the quarter came in at ₹185.55 lakh (~$204,700), up 27.89 per cent YoY. On a QoQ basis, PAT grew 2.33 per cent from ₹181.32 lakh reported in the previous quarter.

Vipul Organics has posted revenue of ₹4,637.57 lakh (~$5.11 million) in Q3 FY26, up 11.65 per cent year on year and 16.92 per cent quarter on quarter.
PAT rose 27.89 per cent YoY to ₹185.55 lakh (~$204,700).
For nine months, revenue grew 3.82 per cent while PAT jumped 35.17 per cent.
Management expects capex benefits and stronger order flow ahead.

On a standalone and consolidated basis, Q3 FY26 profit before tax (PBT) stood at ₹252.2 lakh and ₹251.94 lakh respectively, compared to ₹182.94 lakh and ₹182.79 lakh in the corresponding quarter of FY25. Earnings per share (EPS) for the quarter was ₹1.1, Vipul Organics said in a press release.

For the nine months (9M) period, total revenue reached ₹12,372.74 lakh, reflecting a 3.82 per cent rise from ₹11,916.75 lakh recorded in the same period of the previous year. PAT for the nine-month period increased significantly by 35.17 per cent to ₹493.76 lakh, compared to ₹365.28 lakh in the nine months in FY25.

During the 9M period, standalone PBT stood at ₹653.29 lakh against ₹518 lakh a year earlier. Consolidated PAT was ₹492.86 lakh, up from ₹364.33 lakh in the corresponding period last year. EPS for 9M improved to ₹2.92 on a standalone basis, compared to ₹2.26 in the previous year.

Commenting on the results, Vipul Shah, managing director, Vipul Organics Limited, said: “We have seen an improvement in our topline in this quarter. With our Capex almost done, we expect the benefits to kick in from the coming quarters. Our water membrane division has also shown traction, and we are hopeful of order flow in the coming fiscal. With Macroeconomic indicators showing improvement, your company is fully positioned to take advantage of the existing and newer business opportunities. We are also geared towards taking advantage of AI for improved operational performance and predictive analysis of product demand.”

Fibre2Fashion News Desk (SG)

In the Mumbai market, cotton yarn prices remained unchanged as the loom sector slowed production. Although spinning mills are looking to raise their selling rates, they have not found sufficient demand. A Mumbai-based trader told Fibre*Fashion, “Power and auto looms are facing limited fabric buying from the garment industry. Export prospects are still unclear. Domestic demand is also insufficient to support any price rise. Mills are comfortable with falling cotton prices, while buyers remain silent on yarn purchases.”

In Mumbai, ** carded yarn of warp and weft varieties were traded at ****;*,***–*,*** (~$**.**–**.**) and ****;*,***–*,*** per * kg (~$**.**–**.**) (excluding GST), respectively. Other prices include ** combed warp at ****;***–*** (~$*.**–*.**) per kg, ** carded weft at ****;*,***–*,*** (~$**.**–**.** per *.* kg, **/** carded warp at ****;***–*** (~$*.**–*.**) per kg, **/** carded warp at ****;***–*** (~$*.**–*.**) per kg and **/** combed warp at ****;***–*** (~$*.**–*.**) per kg, according to trade sources.

The proposed Bangladesh–US trade understanding, which could allow near zero-tariff access for Bangladeshi garments to the American market subject to specific riders, has triggered debate within India’s textile and apparel industry. The real gains from zero tariffs may be limited due to high freight costs, longer lead times, and insufficient capacity in Bangladesh’s spinning and weaving/knitting sectors.

Bangladesh is already among the top suppliers of apparel to the US, particularly in basic knit and woven categories such as T-shirts, trousers and sweaters. A tariff advantage, even if modest, could sharpen its price competitiveness in high-volume, price-sensitive segments dominated by mass retailers.

The proposed Bangladesh–US trade understanding offering near zero-tariff access for garments has sparked debate in India’s textile sector.
While Bangladesh may gain a price edge in basic apparel, industry leaders believe the effective advantage could be limited to 2–3 per cent due to raw material dependence, capacity constraints and logistics costs.

However, Indian industry leaders argue that the net gain for Bangladesh may be restricted to around 2–3 per cent in effective competitiveness. They point to structural constraints, including Bangladesh’s heavy reliance on imported raw materials. A significant share of its fabric and yarn requirements is sourced from China and India, limiting flexibility in rules-of-origin compliance if strict value-addition conditions are attached to the deal.

Capacity limitations in spinning, weaving and man-made fibre processing are also seen as bottlenecks. While Bangladesh has built scale in garmenting, its upstream integration remains narrower than India’s diversified fibre-to-fashion base. Indian exporters emphasise that integrated supply chains offer advantages in speed, customisation and smaller batch production.

Logistics and lead times may further temper expectations. Distance from major US ports, coupled with infrastructure pressures and global shipping volatility, could offset part of the tariff benefit. In contrast, Indian suppliers have been investing in port connectivity, digital compliance systems and flexible production models to strengthen reliability.

Industry representatives also highlight that US buyers are increasingly factoring in sustainability, traceability and geopolitical risk. India’s growing adoption of renewable energy in textile clusters, compliance with global standards and broader product depth may help it retain strategic sourcing partnerships.

While some diversion of orders in basic categories cannot be ruled out, exporters believe the overall impact will be incremental rather than disruptive. The consensus view is that tariff preference alone is unlikely to override considerations of scale, compliance, diversification and long-term supply-chain resilience.

Fibre2Fashion News Desk (KUL)