Financial Performance - Q2 FY27

  • Revenue from operations: ₹633.2 crore, up 7.8% YoY (Q2 FY26: ₹587.4 crore) and 20.2% QoQ
  • Cost of Goods Sold: ₹315.1 crore (Q2 FY26: ₹296.4 crore)
  • Gross Profit: ₹318.1 crore, up 9% YoY (Q2 FY26: ₹291.1 crore)
  • Gross Profit Margin: 50.2% (Q2 FY26: 49.5%), improvement of approximately 70 bps YoY
  • Employee Cost: ₹70.9 crore (Q2 FY26: ₹61.7 crore)
  • Other Expenses: ₹125.4 crore (Q2 FY26: ₹101.7 crore)
  • Other Income: ₹13.2 crore (Q2 FY26: ₹13.6 crore)
  • EBITDA: ₹135.0 crore, down 4% YoY (Q2 FY26: ₹141.3 crore)
  • EBITDA Margin: 21.3% (Q2 FY26: 24.0%)
  • Depreciation: ₹24.1 crore (Q2 FY26: ₹19.5 crore)
  • EBIT: ₹110.9 crore, down 9% YoY (Q2 FY26: ₹121.8 crore)
  • EBIT Margin: 17.5% (Q2 FY26: 20.7%)
  • Finance Cost: ₹0.5 crore (Q2 FY26: ₹0.5 crore)
  • Profit Before Tax: ₹110.4 crore, down 9% YoY (Q2 FY26: ₹121.3 crore)
  • Tax: ₹28.5 crore (Q2 FY26: ₹29.9 crore)
  • Profit After Tax: ₹81.9 crore, down 10% YoY (Q2 FY26: ₹91.3 crore)
  • PAT Margin: 12.9% (Q2 FY26: 15.5%)
  • EPS: ₹3.63 (Q2 FY26: ₹4.05)

Financial Performance - H1 FY27

  • Revenue from operations: ₹1,159.9 crore, up 4% YoY (H1 FY26: ₹1,116.5 crore)
  • Gross Profit: ₹594.2 crore, up 3% YoY (H1 FY26: ₹576.6 crore)
  • Gross Profit Margin: 51.2% (H1 FY26: 51.6%)
  • EBITDA: ₹252.2 crore, down 6% YoY (H1 FY26: ₹267.6 crore)
  • EBITDA Margin: 21.7% (H1 FY26: 24.0%)
  • PAT: ₹155.3 crore, down 10% YoY (H1 FY26: ₹172.0 crore)
  • PAT Margin: 13.4% (H1 FY26: 15.4%)
  • EPS: ₹6.88 (H1 FY26: ₹7.63)

Management Commentary

Mr. Pradeep Rathod, Chairman & Managing Director, commented:

  • Festive season falls later this year, shifting seasonal and institutional gifting demand from Q2 to Q3 FY27
  • Input costs remained elevated due to West Asia conflict driving up prices of polymers, fuel, gas and packaging materials
  • Operating environment remained competitive with low-priced imports exerting pressure across certain product categories
  • Writing Instruments delivered strong growth led by the Cello brand
  • In-house steel bottle manufacturing facility in Rajasthan progressing towards ramp-up phase, with production expected to scale up steadily through H2 FY27
  • Key priorities: enhancing operational efficiencies, rationalizing product portfolio, improving capacity utilization, deepening market penetration, maintaining disciplined working capital management
  • H2 is seasonally stronger half, with business performance expected to improve over coming quarters

Balance Sheet Position (as of September 2026)

  • Total Equity: ₹2,823.0 crore (March 2026: ₹2,700.9 crore)
  • Equity Share Capital: ₹112.8 crore (March 2026: ₹110.4 crore)
  • Other Equity: ₹2,710.2 crore (March 2026: ₹2,181.2 crore)
  • Total Assets: ₹3,164.4 crore (March 2026: ₹3,003.2 crore)
  • Non-current Assets: ₹1,096.9 crore (March 2026: ₹833.0 crore)
  • Property, Plant and Equipment: ₹743.8 crore (March 2026: ₹698.7 crore)
  • Capital Work in Progress: ₹59.9 crore (March 2026: ₹65.5 crore)
  • Other Investments: ₹236.4 crore (March 2026: ₹21.6 crore)
  • Current Assets: ₹2,067.5 crore (March 2026: ₹2,170.2 crore)
  • Inventories: ₹614.1 crore (March 2026: ₹534.7 crore)
  • Trade Receivables: ₹723.5 crore (March 2026: ₹749.6 crore)
  • Cash and Cash Equivalents: ₹24.3 crore (March 2026: ₹126.4 crore)
  • Bank Balances (other than cash): ₹5.5 crore (March 2026: ₹1.4 crore)
  • Total Liabilities: ₹341.4 crore (March 2026: ₹302.3 crore)
  • Borrowings: ₹21.7 crore current, ₹0.0 crore non-current (March 2026: ₹34.6 crore current, ₹0.0 crore non-current)

Cash Flow Statement - H1 FY27

  • Net Cash from Operating Activities: ₹173.4 crore (H1 FY26: ₹130.8 crore)
  • Net Cash from Investing Activities: -₹227.3 crore (H1 FY26: -₹116.5 crore)
  • Net Cash from Financing Activities: -₹48.2 crore (H1 FY26: -₹38.6 crore)
  • Net Decrease in Cash and Cash Equivalents: -₹102.0 crore (H1 FY26: -₹24.3 crore)

Corporate Structure Update

The Composite Scheme of Arrangement amongst Wim Plast Limited, Cello Consumer Products Private Limited, and the Company became effective from May 27, 2026 with an Appointed Date of April 1, 2025. Comparatives have been restated to give effect to the scheme from the beginning of the previous year.

Manufacturing Footprint

The company operates multiple manufacturing units across India:

  • Daman Units (I-VIII): Plastic moulded furniture, extrusion sheets, household ware, insulated ware, opalware, glassware, stationery
  • Haridwar Units (I-II): Plastic moulded furniture, houseware, insulatedware, melamine
  • Baddi Unit: Plastic Extrusion Sheet
  • Chennai Unit: Plastic moulded furniture, tooling unit
  • Kolkata Unit: Plastic moulded furniture
  • Rajasthan Unit: Glassware & Steel Facility

Historical Financial Performance (FY22-FY26)

  • Revenue: ₹1,359 crore (FY22) → ₹1,797 crore (FY23) → ₹2,000 crore (FY24) → ₹2,136 crore (FY25) → ₹2,324 crore (FY26)
  • Gross Profit: ₹681 crore (FY22) → ₹901 crore (FY23) → ₹1,052 crore (FY24) → ₹1,105 crore (FY25) → ₹1,156 crore (FY26)
  • EBITDA: ₹350 crore (FY22) → ₹437 crore (FY23) → ₹534 crore (FY24) → ₹555 crore (FY25) → ₹526 crore (FY26)
  • PAT: ₹220 crore (FY22) → ₹285 crore (FY23) → ₹356 crore (FY24) → ₹365 crore (FY25) → ₹332 crore (FY26)
  • Return on Equity: 45.9% (FY22) → 40.0% (FY23) → 22.4% (FY24) → 15.14% (FY25) → 12.3% (FY26)
  • Debt to Equity: 1.7 (FY22) → 0.6 (FY23) → 0.3 (FY24) → 0.0 (FY25) → 0.0 (FY26)

Key Management Personnel

  • Atul Parolia - Chief Financial Officer (30+ years experience)
  • Hemangi Trivedi - Company Secretary & Compliance Officer (14+ years experience)
  • Rajesh Bang - CFO - Cello Household Products Private Limited
  • Sreyas Jain - CFO - Unomax Stationery Private Limited
  • Multiple other finance and general management professionals