Plumbing contributed 71% of FY26 revenue and 83% of Ebitda. In contrast, the chemicals business was weighed down by loss-making paints and weak overseas operations. Paints posted ₹240 crore in revenue with an Ebitda loss of ₹14 crore, while the UK chemicals business earned just ₹15 crore of Ebitda on ₹385 crore revenue. Overall, chemicals revenue stood at ₹1,900 crore with Ebitda margin less than 10% versus 20% for plumbing.
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