Company Overview

Flair Writing Industries Limited (Scrip Code: 544030, Symbol: FLAIR) submitted an investor presentation dated August 11, 2026, pursuant to Regulation 30 of SEBI Listing Regulations, covering financial results for Q1 FY27 (quarter ended June 30, 2026).

Q1 FY27 Financial Performance

Profit & Loss Statement (₹ in crores)

  • Revenue from Operations: ₹319.2 (Q1 FY26: ₹288.5), showing 10.6% YoY growth
  • Gross Profit: ₹158.6 (Q1 FY26: ₹144.2), with Gross Profit Margin at 49.7% (down 31 bps YoY)
  • EBITDA: ₹53.3 (Q1 FY26: ₹49.5), with EBITDA Margin at 16.7% (down 46 bps YoY)
  • EBIT: ₹40.2 (Q1 FY26: ₹40.1), showing minimal growth of 0.4%
  • Profit Before Tax (PBT): ₹39.0 (Q1 FY26: ₹38.8), growth of 0.4%
  • Profit After Tax (PAT): ₹29.1 (Q1 FY26: ₹29.0), growth of 0.5% with PAT Margin at 9.1% (down 92 bps YoY)
  • Total Tax Expense: ₹9.9 (same as Q1 FY26)

Quarter-over-Quarter Comparison

  • Revenue declined 1.1% from Q4 FY26 (₹322.9 crs)
  • PAT declined 20.4% from Q4 FY26 (₹36.5 crs)

Segment Performance

Steel Bottles & Houseware

  • Recorded 54% YoY growth during Q1 FY27
  • Company expanding with fourth next-generation manufacturing line
  • New line estimated to be commissioned by Q4 FY27
  • Expected to increase manufacturing capacity by approximately 35%

Domestic Sales

  • Increased by 13% YoY
  • Driven by healthy demand across domestic market
  • Supported by existing products and new product launches

Exports

  • Remained broadly flat amid geopolitical uncertainty in West Asia
  • Company focusing on other geographies and adding new export markets
  • Expects to achieve projected growth rate in next 3 quarters as conditions stabilize

Capital Expenditure

  • Total capex of ₹43.42 crs incurred during Q1
  • ₹33.25 crs capitalized towards factory building in Valsad facility
  • ₹0.39 crs incurred towards Surat facility

Business Segments Overview

Pens Business

  • Largest pen brand and pen exporter from India
  • FY26 SKU count: 2,762+ products
  • Only large player with highest in-house tip making facilities
  • Complete control on writing experience
  • Brands across price points: Premium (>₹100), Mid-premium (₹16-₹100), Mass (<₹15)

Creative Segment

  • Entered in 2021 with brand "Flair Creative"
  • Portfolio includes watercolors, crayons, sketch pens, erasers, pencils, geometry boxes, etc.
  • Delivered ~10x revenue growth in five years since inception
  • FY26 growth at 74% YoY
  • 20% distribution coverage of pens network
  • 75%+ in-house manufacturing

Strategic Partnerships

  • Disney licensing agreement since March 2024 for character usage across stationery
  • ~20 Disney-branded SKUs currently manufactured and distributed
  • Partnership with Maped France for product distribution in India

Steel Bottles & Houseware

  • Among initial recipients of BIS-certified steel bottle manufacturer status
  • 27 products under this category
  • 100% in-house manufacturing
  • Products include bottles, mugs, lunchboxes, buckets, containers

Manufacturing Facilities

Current Facilities

  • Total installed capacity: 2.4 Billion pieces per annum
  • Valsad (Gujarat): Pens, Creative Products, Steel Bottles, Houseware
  • Dehradun (Uttarakhand): Pens & Creatives
  • Naigaon (Maharashtra): Calculators and Pierre Cardin metal pens
  • Daman: Tips manufacturing, Pens & Creatives
  • Surat (Flomaxe Stationery): Pencils & allied creative products

In-House Production Capabilities

  • 100% Pens manufactured in-house
  • 80%+ Tips manufactured in-house
  • 75%+ Creatives manufactured in-house
  • 100% Steel Bottles & Houseware manufactured in-house

Sustainability Initiatives

  • Majority workforce consists of women across facilities
  • 1.85 MW rooftop solar project at Valsad & Daman units

Upcoming Manufacturing Facilities

  • New Unit in Valsad for Writing Instruments & Stationery Products
  • Flomaxe Surat Facility current capacity expansion
  • Partial commencement of New Valsad Facility and Surat to increase installed capacity

Board of Directors

  • Mr. Khubilal Jugraj Rathod, Chairman: 50+ years experience, received Lifetime Achievement Award
  • Mr. Vimalchand Jugraj Rathod, Managing Director: ICAI fellow, 42+ years experience, Chairman of Pen & Stationery Association of India
  • Mr. Rajesh Khubilal Rathod, Whole-time Director: Heads international sales and marketing
  • Mr. Mohit Khubilal Rathod, Whole-time Director: Heads product development, domestic sales and marketing
  • Mr. Sumit Vimalchand Rathod, Whole-time Director: Heads new business development, production, steel bottles business

Historical Financial Performance

Profit & Loss Statement (₹ in crores)

| FY | Revenue | Gross Profit | GP % | EBITDA | EBITDA % | PAT | PAT % |

| FY26 | 1,250.1 | 637.8 | 51.0% | 224.5 | 18.0% | 141.3 | 11.3% |

| FY25 | 1,079.9 | 547.7 | 50.7% | 184.7 | 17.1% | 119.1 | 11.0% |

| FY24 | 978.7 | 493.0 | 50.4% | 191.2 | 19.5% | 118.5 | 12.1% |

| FY23 | 942.7 | 433.9 | 46.0% | 183.5 | 19.5% | 117.0 | 12.4% |

| FY22 | 577.5 | 269.3 | 46.6% | 97.9 | 16.9% | 55.9 | 9.7% |

Balance Sheet Highlights (₹ in crores)

  • Total Equity: ₹1,142.5 (Mar-26) vs ₹1,017.8 (Mar-25)
  • Property, plant and equipment: ₹454.3 (Mar-26) vs ₹395.5 (Mar-25)
  • Inventories: ₹354.0 (Mar-26) vs ₹287.1 (Mar-25)
  • Trade Receivable: ₹273.4 (Mar-26) vs ₹258.9 (Mar-25)

Cash Flow Statement (₹ in crores)

  • Cash from Operations: ₹137.2 (FY26) vs ₹55.5 (FY25)
  • Cash from Investing Activities: (₹161.0) (FY26) vs (₹25.5) (FY25)
  • Cash from Financing Activities: (₹21.5) (FY26) vs (₹25.3) (FY25)

Corporate Social Responsibility

  • Focus on education and healthcare initiatives
  • "Empowerment through employment" philosophy
  • Distributed sewing machines promoting self-reliance
  • Supported education through laptop distribution to tribal and minority community students
  • Donated Anesthesia Workstation at Sadri Government Hospital
  • Undertaken tree plantation drive in Pali, Rajasthan