Key Financial Performance - H1 FY27

Revenue Performance:

  • Revenue from Operations: ₹157.46 crore (26.1% YoY growth from ₹124.89 crore in H1 FY26)
  • Total Revenue: ₹157.90 crore (26.3% YoY growth from ₹125.07 crore)
  • Other Income: ₹4.29 lakh

Profitability Metrics:

  • EBITDA: ₹23.58 crore (39.3% YoY growth from ₹16.92 crore)
  • EBITDA Margin: 14.93% (140 basis points improvement from 13.53%)
  • Profit Before Tax: ₹16.05 crore (36.4% YoY growth from ₹11.77 crore)
  • Net Profit (PAT): ₹11.76 crore (32.9% YoY growth from ₹8.85 crore)
  • Net Profit Margin: 7.45% (37 basis points improvement from 7.08%)
  • Diluted EPS: ₹8.61 (32.9% YoY growth from ₹6.48)

Expense Breakdown:

  • Cost of Materials Consumed: ₹99.86 crore
  • Purchases of Stock-in-Trade: ₹14.69 crore
  • Changes in Inventories: -₹9.17 crore
  • Employee Benefit Expense: ₹7.67 crore
  • Other Expenses: ₹21.27 crore
  • Total Expenses: ₹134.32 crore

Taxation:

  • Current Tax: ₹2.57 crore
  • Prior Year Tax: ₹1.65 crore
  • Deferred Tax: ₹0.07 crore

Operational Highlights

Manufacturing Capacity:

  • Available Capacity H1 FY27: 20,401 MT
  • Production: 13,028 MT
  • Capacity Utilization: 64%

Geographical Presence:

  • Pan-India distribution across 20+ states and union territories
  • Key markets include Gujarat, Maharashtra, Uttar Pradesh, Tamil Nadu, and Telangana
  • Depot locations: Ahmedabad, Surat, Ghaziabad, Hyderabad

Product Portfolio:

  • Diversified range across PVC profiles, WPC solid profiles, and uPVC profiles
  • Over 2,000 SKUs catering to multiple industries including construction, furniture, and interior design

Manufacturing Facilities:

  • Lasundra Zak GIDC facility (recently expanded)
  • Gandhinagar facility with ~1,400 MTPA capacity
  • Multiple manufacturing units in Ahmedabad

Historical Financial Performance

FY26 Annual Results:

  • Revenue from Operations: ₹263.23 crore (33.1% growth from FY25)
  • Net Profit: ₹18.77 crore (46.0% growth from FY25)
  • EBITDA Margin: 13.7%
  • Net Profit Margin: 7.1%
  • Diluted EPS: ₹13.74

Balance Sheet Position (FY26):

  • Total Shareholders' Equity: ₹83.12 crore
  • Total Assets: ₹208.50 crore
  • Property, Plant & Equipment: ₹78.27 crore
  • Inventories: ₹47.46 crore
  • Trade Receivables: ₹34.98 crore
  • Cash & Cash Equivalents: ₹8.77 crore
  • Borrowings: ₹103.65 crore (Non-current: ₹46.76 crore, Current: ₹56.90 crore)

Cash Flow (FY26):

  • Net Cash from Operating Activities: ₹15.87 crore
  • Net Cash used in Investing Activities: -₹34.52 crore
  • Net Cash from Financing Activities: ₹25.28 crore

Strategic Initiatives and Investment Rationale

Capacity Expansion:

  • Fully integrated Lasundra facility enhancing production efficiency and cost optimization
  • Continued expansion of manufacturing capabilities

Renewable Energy Initiative:

  • 7.5 MW captive solar plant operational
  • Expected monthly savings: ₹35-40 lakh in electricity costs

Distribution Network:

  • Established pan-India distribution network across 20+ states
  • Supported by 4 strategic depots for market penetration

Industry Tailwinds:

  • Benefiting from India's urban housing demand (78 million units required during 2024-2034)
  • Government affordable housing schemes (PMAY-U with 1.27 crore+ houses sanctioned)
  • Rising demand for modern building materials and wood alternatives

Market Information

Shareholding Pattern (September 2026):

  • Promoters: 70.03%
  • Public: 29.97%

Market Metrics (as of 05th November 2026):

  • Current Market Price: ₹219.80
  • 52 Week High/Low: ₹268.80 / ₹139.00
  • Market Capitalization: ₹292.42 crore
  • Face Value: ₹10
  • BSE Scrip Code: 543939 (BSE SME)

Corporate Details

Company Address:

501 & 601 Sahitya Business Park, Near Sahajanand Business Park, S P Ring Road, Nikol, Ahmedabad- 382350

Contact Information:

Investor Relations Partner:

ORIM CONNECT

220, Corporate Avenue, Goregaon, Mumbai, Maharashtra 400063