Financial Performance Highlights

  • Consolidated revenue increased by 17% to ₹4,265 crores in FY 2025-26
  • EBITDA grew by 20% to ₹377 crores
  • Profit After Tax increased by 29% to ₹149 crores
  • Earnings per share increased from ₹9.85 in FY25 to ₹12.34 in FY26
  • Net debt-to-equity ratio stood at 0.84x
  • Cash and cash equivalents of ₹90 crores at FY26 end
  • Adjusted ROCE stood at 18.9% after normalizing for recently commissioned and under-utilized assets

Operational Highlights

  • Company operates 42 manufacturing facilities across 12 states
  • Serves Home & Personal Care, Food & Beverages, Ice Cream, Healthcare and Footwear sectors
  • Signed projects worth ₹780 crores in FY 2025-26, with 70% (₹550 crores) already commercialized
  • Balance projects expected to be commercialized during FY 2026-27

Business Vertical Updates

Home & Personal Care:

  • Acquired Aurangabad personal care facility for serving emerging and D2C brands
  • Investments in Silvassa and Lucknow for liquid detergents, household cleaning, and personal care

Food & Beverages:

  • Capacity expansion ahead of summer season enabled highest-ever production levels
  • Entering Greek yoghurt manufacturing
  • Expanding bottled water capacity in Aurangabad and South India
  • Brownfield expansion in South India for Food business
  • Greenfield facility for bottled water and juices

Ice Cream Business:

  • Commissioned greenfield Nashik facility
  • Expanded Lucknow operations
  • Total Capex investment in ice cream division approximately ₹630 crores (includes CWIP, Capital Advances, excluding ROU)
  • Acquired waffle cone and packaging material unit
  • Commissioned dedicated stick manufacturing facility

Healthcare Business:

  • Strengthened manufacturing readiness and quality systems
  • Expanded into wellness-led and Ayurveda-oriented categories
  • New Ayurvedic wellness manufacturing facility at Baddi underway

Footwear Business:

  • Crossed ₹500 crores in annual turnover
  • Continued investment in new brand relationships
  • Capacity expansion across North and South India

Capital Allocation and Financial Position

  • Internal minimum ROCE threshold of 18% maintained for new projects and acquisitions
  • Higher working capital requirements impacted cash flow due to inverted GST duty structure
  • Conscious decision to build inventory amid geopolitical uncertainty

Sustainability Initiatives

  • Progressed green power initiatives through Group Captive Solar projects
  • Commenced installation of bio-briquette boilers
  • Strengthened circular economy initiatives through recycled plastic usage
  • Investment in The Kabadiwala

Forward Guidance

  • Company maintains guidance of ₹200–220 crore in Profit After Tax for FY 2026-27
  • Execution momentum remains strong with robust project pipeline
  • New capacities commissioning and improving operating leverage expected

Corporate Governance

  • 41st Annual General Meeting held on September 22, 2026 at 11:30 a.m. through Video Conference facility
  • Deemed venue: Registered Office at Office no. 3, level-2, Centrium, Phoenix Market City, 15, LBS road, Kurla (West), Mumbai - 400 070