Key Quantitative Figures

Financial Performance H1FY27:

  • Revenue from Operations: ₹1,968 crore (36% YoY growth)
  • EBITDA: ₹187 crore (22% YoY growth)
  • EBITDA Margin: 10%
  • PAT: ₹116 crore (17% YoY growth)
  • PAT Margin: 6%
  • EPS (Basic): ₹11.19
  • EPS (Diluted): ₹11.19

Q2FY27 Performance:

  • Revenue: ₹989 crore (-1% QoQ)
  • EBITDA: ₹101 crore (-15% QoQ)
  • EBITDA Margin: 10%
  • PAT: ₹64 crore (-19% QoQ)
  • PAT Margin: 6%

Operational Metrics:

  • Total Installed Capacity: 3,16,400 MTPA (as of September 2026)
  • H1FY27 Capacity Utilization: 64%
  • Export Contribution: 29% of revenue (₹572 crore)
  • Employee Count: 426+
  • Geographic Presence: 50+ countries

Capacity Expansion:

  • New XLPE Compound facility in Bhiwadi, Rajasthan commissioned April 2026
  • Annual Installed Capacity: 48,000 MTPA
  • Capex Incurred: ₹79.22 crore
  • Expected Additional Revenue: ~₹500 crore

Historical Financial Performance

Annual Trends (FY22-FY26):

  • Revenue: ₹2,227 crore (FY22) to ₹2,948 crore (FY26)
  • EBITDA: ₹128 crore (FY22) to ₹320 crore (FY26)
  • PAT: ₹55 crore (FY22) to ₹202 crore (FY26)
  • EPS: ₹5.82 (FY22) to ₹19.50 (FY26)

Capacity Evolution:

  • FY25: 2,33,400 MTPA
  • FY26: 2,68,400 MTPA
  • FY27E: ~3,32,400 MTPA

Management Commentary

Chairman and Managing Director Narrindra Suranna stated that FY27 continues to be shaped by global volatility and uncertainty, but demand for polymer compounds remains robust led by wires and cables sector. The company is focused on building a profitable international business that complements domestic leadership. Investments will continue in capacity expansion, automation and operational efficiency to capture long-term opportunities from India's infrastructure development, electrification and manufacturing growth.

Forward-looking Guidance

  • FY27E Revenue: ~₹3,800 crore
  • FY27E Capex: ~₹175 crore
  • FY27E EPS: ~₹22.31
  • Installed Capacity FY27E: ~3,32,400 MTPA

Product Portfolio & Market Position

  • 200+ compounds across 5 categories
  • India's largest listed polymer compound supplier
  • 50% market share in Sioplas
  • 33% market share in XLPE compounds
  • CRISIL A+/Stable & CRISIL A1+ credit ratings

Manufacturing Facilities

Six manufacturing units located in:

  • Dhulagarh, West Bengal (37,000 MTPA)
  • Bhiwadi, Rajasthan (48,000 MTPA)
  • Silvassa, Dadra Plant 1 (68,000 MTPA)
  • Silvassa, Dadra Plant 2 (5,900 MTPA)
  • Daman, Daman & Diu (29,900 MTPA)
  • Surangi, Dadra and Daman (1,27,600 MTPA)