1. Synthetic ester plant Phase 2 - Phase 2 of the Mahad synthetic ester plant was successfully commissioned, as announced on 28 February 2026, adding capacity to manufacture esters for both transformer fluids and high-performance automotive and industrial lubricants. The in-house-developed biodegradable molecule removes the main supply bottleneck for the company's fastest-growing premium product lines, including SAVSOL Ester5 and ester-based transformer oils.
2. SAVSOL Ester5 premium lubricants - SAVSOL Ester5, the ester-based automotive lubricant range, grew sales at 5x the industry growth rate in FY26. With Phase 2 ester capacity now online and a brand ambassador driving retail visibility, this high-margin range can shift the lubricant portfolio mix toward premium synthetics.
3. Transformer oil ester exports - The newly launched ester-based transformer fluid TRANSOL Synth has received key global approvals, paving the way for exports in the coming years, while the company also expects a long-drawn US approval process to conclude by mid-next-year. Ester-based fluids carry higher realisations than mineral oils and open an addressable market in data centres, renewables, and defence where safety requirements mandate synthetic fluids.
4. Export footprint expansion - Exports posted double-digit volume growth in FY26 and contributed 17% of revenue, with salespersons now stationed in Vietnam and Latin America and new distribution expansions underway. A wider geographic base reduces dependence on domestic demand cycles and improves capacity utilisation across the product portfolio.
5. Next-generation fluids for EVs and data centres - The company has successfully tested and is ready to launch advanced fluids for energy storage systems and refrigeration compressors, while its ester molecule is being piloted in EV cooling for 2- and 3-wheelers. These applications target a combined immersion-cooling market expected to grow from $400M to $2B by 2031, creating an entirely new revenue stream from the same ester platform.
6. Transformer oil domestic demand - Transformer oil volumes achieved double-digit growth in FY26, driven by rising investments in transmission and grid modernisation as India's power generation capacity reached 476 GW. Sustained capex from utilities and OEMs such as BHEL, NTPC, and Powergrid supports continued volume growth in the company's largest segment.
7. Savita GreenTec amalgamation - The board approved a scheme to amalgamate wholly owned subsidiary Savita GreenTec Limited with the parent, with an appointed date of 1 April 2026. Consolidation simplifies the corporate structure and brings any future product diversification under one entity with no equity dilution, given the subsidiary has nil turnover and the parent holds all shares.
8. Debt-free balance sheet with ₹508 cr cash - The company holds cash and investments of approximately ₹508 crore with nil borrowings as of 31 March 2026. This funds growth capex and the dividend (₹5 per share recommended) without external financing, preserving full earnings upside for equity holders as new capacity comes online.