Ecoplast Limited submitted its unaudited standalone financial results for Q2 and H1 FY27 ended September 30, 2026, in accordance with Regulation 30 of SEBI Listing Regulations.

Financial Highlights (Standalone)

Quarterly Performance (₹ crore):

  • Revenue from operations: ₹73.93 crore in Q2 FY27 vs ₹54.24 crore in Q2 FY26 (+36.3% YoY) and ₹63.25 crore in Q1 FY27 (+16.9% QoQ)
  • EBITDA: ₹3.05 crore in Q2 FY27 vs ₹3.83 crore in Q2 FY26 (-20.4% YoY) and ₹6.06 crore in Q1 FY27 (-49.7% QoQ)
  • EBITDA margin: 4.1% in Q2 FY27 vs 7.1% in Q2 FY26 (-290 bps) and 9.6% in Q1 FY27 (-550 bps)
  • Profit before tax: ₹1.37 crore in Q2 FY27 vs ₹3.24 crore in Q2 FY26 (-57.8% YoY) and ₹4.60 crore in Q1 FY27 (-70.3% QoQ)
  • Profit after tax: ₹0.78 crore in Q2 FY27 vs ₹2.36 crore in Q2 FY26 (-66.8% YoY) and ₹3.30 crore in Q1 FY27 (-76.3% QoQ)
  • EPS: ₹1.64 in Q2 FY27 vs ₹4.95 in Q2 FY26 and ₹6.95 in Q1 FY27

Half-Yearly Performance (₹ crore):

  • Revenue from operations: ₹137.18 crore in H1 FY27 vs ₹107.90 crore in H1 FY26 (+27.1% YoY)
  • EBITDA: ₹9.10 crore in H1 FY27 vs ₹8.04 crore in H1 FY26 (+13.2% YoY)
  • EBITDA margin: 6.6% in H1 FY27 vs 7.5% in H1 FY26 (-80 bps)
  • Profit before tax: ₹5.97 crore in H1 FY27 vs ₹7.12 crore in H1 FY26 (-16.2% YoY)
  • Profit after tax: ₹4.08 crore in H1 FY27 vs ₹5.26 crore in H1 FY26 (-22.3% YoY)
  • EPS: ₹8.59 in H1 FY27 vs ₹11.06 in H1 FY26

Q2 FY27 Performance Details

  • Revenue growth was driven by strong underlying demand across all core verticals, representing the highest quarterly revenue reported by the Company.
  • Raw material costs rose to 70.2% of revenue from 63.3% in Q2 FY26, compressing gross margin by approximately 690 basis points.
  • The margin compression was attributed to high crude oil prices (above US$100 per barrel) due to the West Asia conflict, which pushed polymer prices to exceptionally high levels that are still rising.
  • Supply-chain disruptions restricted raw material imports.
  • EBITDA of ₹3.05 crore included one-time amalgamation expenses of ₹0.96 crore. Before these expenses, EBITDA would have been ₹4.01 crore (5.4% margin).
  • Profit after tax was impacted by higher input costs, one-time merger expenses, and higher depreciation and finance costs from ongoing capacity investments.

H1 FY27 Performance Details

  • The 27.1% revenue growth to ₹137.18 crore was accompanied by a 13.2% increase in EBITDA to ₹9.10 crore.
  • Profit after tax declined by 22.3% primarily due to higher raw material costs (67.7% of revenue vs 62.5% in H1 FY26) and one-time merger expenses.

Business Update

  • Demand remains strong across ACP films, surface protection films, and in the hygiene and hospitality sectors.
  • Raw material price increases are being passed on to customers in stages.
  • The new greenfield expansion is fully complete, and the plant has been operational since October 2026.

Management Commentary

Mr. Jaymin B. Desai, Managing Director, commented: \"Ecoplast delivered strong revenue growth in Q2 and H1 FY27, and the business remained resilient despite a volatile geopolitical environment. Underlying demand remains strong across our core verticals. Margins this quarter were hit by higher raw material costs linked to the West Asia conflict, along with one-time costs of the Kunal Plastics amalgamation. We are passing on price increases gradually and, together with operational changes such as growing the share of our higher-margin export business, we expect margins to return to normal levels soon. With our new greenfield plant now running, we remain focused on profitable growth, disciplined capital allocation and capturing the strong demand we see across sectors.\"

Additional Information

  • Figures for earlier periods have been regrouped and restated to reflect the merger of Kunal Plastics Private Limited with the Company.
  • The press release is also available on the company website at www.ecoplastindia.com.
  • The document was signed by Rakesh Kumar Kumawat, Company Secretary & Compliance Officer.