Bhansali Engineering Polymers Limited (BEPL) submitted a revised press release containing its unaudited standalone and consolidated financial results for the quarter ended 30th June 2026 (Q1 FY27). This filing supersedes the previous submission with reference number SEPL/SEC/2026/224 dated 18th July 2026.

Financial Performance Highlights (Q1 FY27 vs Q1 FY26)

  • Total Income: ₹481.9 Crores, representing an increase of 50.9% from ₹319.3 Crores in the previous year.
  • EBITDA (including Other Income): ₹92.3 Crores, up 44.5% from ₹63.9 Crores.
  • EBITDA Margin: 19.2%, a decrease of 86 basis points from 20.0%.
  • Profit After Tax (PAT): ₹65.6 Crores, an increase of 42.9% from ₹45.9 Crores.
  • PAT Margin: 13.6%, a decrease of 76 basis points from 14.4%.

The revenue growth was attributed to higher realizations, while profitability expansion was driven by operating leverage and improved cost efficiencies.

Capital Allocation and Balance Sheet

  • The company remains debt-free.
  • A capital expenditure (capex) plan of approximately ₹200 crores for a debottlenecking project is fully funded through internal accruals.
  • The Board declared a first interim dividend for Q1 FY27, resulting in a cash outflow of approximately ₹24.9 crores.

Management Commentary

Mr. Jayesh B. Bhansali, Joint Managing Director & Chief Financial Officer, stated that the performance demonstrates the resilience of the business model and cost leadership. He emphasized that the company maintains a strong cash position even after the dividend payout, providing financial flexibility to fund the capex, support incremental working capital needs from expanded capacity, and maintain a liquidity buffer for macroeconomic uncertainties. The company is committed to a disciplined capital allocation approach to create long-term shareholder value.

Capacity Expansion Update

  • Current Capacity: 75,000 Metric Tonnes Per Annum (MTPA).
  • Target Capacity: 100,000 MTPA.
  • Total Capex Outlay: ~₹200 Crores.
  • Funding: Entirely via internal accruals.
  • Targeted Commissioning: September 2026.
  • Optimal Utilization Expected: FY28.

The expansion aims to strengthen BEPL's position as a low-cost ABS producer in India and capture a larger share of domestic demand, which is currently ~30-40% import-dependent. The project also complements ongoing R&D efforts toward higher-margin specialty and colour grades.

Corporate Overview

BEPL is a leading Indian manufacturer of Acrylonitrile Butadiene Styrene (ABS) and Styrenic Resins, operating since 1984. It has manufacturing facilities in Abu Road (Rajasthan) and Satnoor (Madhya Pradesh), an in-house R&D centre, and a strategic joint venture with Nippon A&L Inc., Japan. Its products serve the automobile, consumer durables, electronics, healthcare, and kitchenware industries. The company has over 404 employees.