1. Renewable energy switch - hybrid solar & wind - A group-captive PPA and a 26% equity stake in an SPV will supply 6.6 MVA of wind and 3.30 MWp of solar energy to the Kalyan plant, with solar operational from start of Quarter 3 2025 and wind from Quarter 1 2026. Power is 20% of variable cost and gas is 50%, so replacing grid electricity with captive renewables directly lifts margins on 150,000 MTPA of capacity.
2. Volume push to 96% utilisation - Management targets production and sales of 120,000 MT in FY26, a 7% jump over FY25 output and 96% of nameplate capacity. Running the plant near full utilisation spreads fixed costs across more tonnes, which matters when industry realisations have halved from ₹35/kg to ₹25/kg over three years.
3. Export footprint beyond 30 countries - NPL already exports hydrogen peroxide to over 30 countries and is actively expanding its export market reach. Export diversification reduces dependence on the domestic price cycle and can lift net realisations if international markets offer better pricing.
4. Downstream derivatives - new revenue by FY26 - Management intends to diversify into downstream derivatives and value-added products, aiming for revenue from other products by FY26. Adding even a small derivative stream on top of the core peroxide business creates a second revenue leg from the same integrated site.
5. Cost-efficiency programme - The company is running cost-efficiency projects, streamlining manpower, and holding domestic net sales realisations steady rather than cutting prices. In a low-realisation environment, every rupee of cost saved flows through to the bottom line on roughly ₹320 crore of revenue.