Date: August 17, 2026
Financial Results (Consolidated)
Q1 FY27 Revenue from Operations stood at ₹878 million, representing a 110.2% increase quarter-over-quarter (QoQ) from ₹418 million in Q4 FY26 and a 111.2% increase year-over-year (YoY) from ₹416 million in Q1 FY26.
EBITDA for Q1 FY27 reached ₹359 million with margins of 40.9%, showing 246.5% QoQ growth from ₹104 million (24.8% margin) and 152.1% YoY growth from ₹143 million (34.3% margin).
Profit After Tax (PAT) surged to ₹274 million with PAT margins of 30.5%, representing 268.7% QoQ growth from ₹74 million (16.8% margin) and 151.2% YoY growth from ₹109 million (25.1% margin).
EPS for Q1 FY27 was ₹18.15 compared to ₹4.90 in Q4 FY26 and ₹7.21 in Q1 FY26.
Gross Profit stood at ₹480 million (54.7% margin) compared to ₹232 million (55.5% margin) in Q4 FY26 and ₹237 million (56.9% margin) in Q1 FY26.
Cost breakdown: Cost of Material Consumed ₹361 million, Purchase of stock in trade ₹90 million, Change in Inventories of Finished goods & Work in Progress -₹53 million, Total Raw Material ₹398 million, Employee Expenses ₹47 million, Other Expenses ₹75 million.
Other Income: ₹21 million, Depreciation: ₹16 million, Finance Cost: ₹1 million, Tax: ₹88 million.
Business Segment Performance
Revenue from High Tech segment grew to ₹816 million, showing 135% growth on QoQ basis.
Leadership Team: Board Of Directors
Mr. Shilpan P. Patel - Chairman & Managing Director, holds Master's in Business Administration from Sam Houston State University, Texas. Oversees Business Development and Strategic Management.
Mr. Neil Patel - Joint Managing Director, member of Audit and Stakeholders Relationship committee.
Mr. Prashant Mehta - Independent Director, Company Secretary with over 40 years experience.
Mrs. Jigisha Patel - Woman Director, knowledge in administration and corporate affairs.
Mr. Yogesh Gajjar - Independent Director, Diploma in Electronics, 45 years in electricals and electronics business.
Mrs. Barkharani Nevatia - Independent Director, Chartered Accountant practicing in Pune and Mumbai.
Intellectual Property
Company holds 21 granted patents globally covering territories of India, UK, USA, Europe, Sri Lanka and Malaysia.
More than 10 Indian patent applications and 3 foreign patent applications under process.
41 registered trademarks in India with 26 trademark applications currently under processing.
Patent groups include: Paper and Packing Industry, Packaging Industry, Security Products, Health, Hygiene & Food, Printing and PSA Materials.
Subsidiary Business - Avery Pharmaceuticals
100% wholly-owned subsidiary focused on Mouth Dissolving Strips (MDS) for oral drug administration.
Patented Embedded Water-Soluble Film Technology for drug delivery solutions.
Extensive product portfolio including 40+ FSSAI approved nutraceutical products and 21 RX approved pharmaceutical products.
WHO GMP certified products including Nicotine Polacrilex MDS, Ondansetron MDS, Sildenafil MDS.
Manufacturing and Operations
State of the Art Manufacturing Facilities in Ankleshwar, Gujarat (~350 km from Mumbai).
R&D Centre with modern equipment.
Land on 99 years renewable lease from GIDC.
Presence in Europe, Asia, North & South America and Africa with supply points in India, United Kingdom and South America.
Product Overview
Water Soluble Films (WSF) - flagship brand Watersol, eco-friendly water-soluble packaging solutions.
Applications: Packaging (detergents, agrochemicals, dyes), Healthcare (hospital bags), Agriculture (pesticides, fertilizers), Textiles (embroidery), Consumer Goods (laundry detergents).
Properties: Biodegradability, Transparency, Non-Toxic & Safe, Versatile Barrier Properties, Anti-Static & Odorless.
Market Position
Largest Manufacturer of Water Soluble Films in India.
Caters to niche markets with 21 registered patents and 41 trademarks globally.
WSF market expected to reach $586 million by 2029 at CAGR of 5.8% from $442 million in 2024.
Asia-Pacific region leads the market, North America estimated as largest market.
Market is fragmented with many players.
Investor Relations Contact
Poonam Bansal - Company Secretary & Compliance Officer
MUFG Intime India Private Limited - Investor Relations Advisors
Mr. Chirag Bhatiya: +91 81047 78836, chirag.bhatiya@in.mpms.mufg.com
Mr. Irfan Raeen: +91 97737 78669, irfan.raeen@in.mpms.mufg.com