Key Quantitative Figures

  • Q1FY27 Revenue from Operations: ₹989 crore (29% YoY growth from ₹769 crore in Q1FY26)
  • Q1FY27 EBITDA: ₹101 crore (27% YoY growth from ₹79 crore)
  • Q1FY27 EBITDA Margin: 10% (13 bps decline YoY)
  • Q1FY27 Net Profit: ₹64 crore (22% YoY growth from ₹52 crore)
  • Q1FY27 PAT Margin: 6% (33 bps decline YoY)
  • Q1FY27 EPS (Basic & Diluted): ₹6.16 (22% YoY growth from ₹5.04)
  • FY26 Revenue: ₹2,948 crore (13% YoY growth from ₹2,603 crore in FY25)
  • FY26 Net Profit: ₹202 crore (9% YoY growth from ₹185 crore)
  • Installed Capacity as of June 2026: 3,16,400 MTPA
  • XLPE Capacity Addition Capex: ₹77.21 crore

Dates of Action

  • Board Meeting Date: 10th August 2026
  • Earnings Call Scheduled: Tuesday, 11th August 2026 at 01:00 p.m. IST
  • Previous Intimation Date: 03rd August 2026
  • New XLPE Facility Commissioned: April 2026

Operational Performance

Quarterly Utilization Rates (Q1FY27):

  • Antifab Capacity: 20,500 MTPA at 74% utilization
  • PVC Compounds Capacity: 69,000 MTPA at 52% utilization
  • Sioplas/XLPE/Semicons Capacity: 2,14,500 MTPA at 71% utilization
  • Engineering Products Capacity: 2,400 MTPA at 16% utilization
  • HFFR Capacity: 10,000 MTPA at 48% utilization
  • Total Capacity Utilization: 66%

Capacity Expansion Details:

  • New XLPE Compound facility in Bhiwadi, Rajasthan commissioned in April 2026
  • Annual Installed Capacity: 48,000 MT
  • Expected additional revenue: ₹500 crore

Strategic Initiatives

BESS (Battery Energy Storage Systems) Entry:

  • New strategic move into BESS manufacturing
  • Phase 1: 5 GWh assembly plant expected by Q1 FY28
  • Investment: ₹150–200 crore funded through internal accruals
  • Expected EBITDA margins: 6–8%
  • Revenue recognition from FY28
  • Target customers: EPC players and storage integrators

Product Portfolio:

  • 200+ SKUs across 5 categories
  • Market leadership: ~50% market share in Sioplas and ~33% in XLPE compounds
  • HFFR compounds for solar cables and fire safety applications

Financial Position

  • Net debt-free since 4QFY24
  • Commitment to maintain net debt-free status through FY27 and beyond
  • Strong credit ratings: CRISIL A+/Stable & CRISIL A1+

Forward-looking Statements

  • FY27E Revenue: ~₹3,340 crore
  • FY27E Installed Capacity: ~3,34,400 MTPA
  • FY27E Capex: ~₹175 crore
  • FY27E EPS: ~₹22.31
  • BESS market expected to reach ~208 GWh by 2030 in India (~$32B value)