Company Overview
Machino Plastics Limited, an auto components manufacturer, reported mixed FY26 results with strong revenue growth but significant profit decline. Revenue increased 27% to ₹4,921.56 lakh from operations primarily in plastic injection molding parts (₹4,347.05 lakh) and molds & dies (₹574.52 lakh). However, net profit declined 85% to ₹132.26 lakh due to expansion costs associated with new plants in Kharkhoda and Pithampur.
Financial Performance & Capital Structure
The company maintained unchanged equity share capital of ₹613.68 lakh with 75% promoter holding. Borrowings increased significantly to ₹24,411 lakh to fund expansion, with term loans from multiple banks including Yes Bank, Bank of India, and ICICI Bank at interest rates ranging from 8.45% to 10.50%. The company recognized a ₹716.55 lakh revaluation surplus on freehold land, contributing to total reserves of ₹480.10 lakh.
AGM & Corporate Governance
The 41st Annual General Meeting was convened on September 29, 2026, via video conference to adopt FY26 financial statements and approve material related party transactions. Shareholders approved RPTs with Maruti Suzuki India Limited (₹80,000 lakh) and other related parties (₹31,670 lakh) for FY27. The board includes Chairman cum Managing Director Aditya Jindal, Whole Time Director Sanjiivv Jindall, and Suzuki Motor Corporation representative Kazunari Yamaguchi.
Operational & Segment Performance
The company operates 63 injection molding machines across plants in Gurugram, Manesar, Kharkhoda, and Pithampur with 1,350 kW solar power capacity. Segment reporting shows plastic molding parts contributed ₹4,347.05 lakh revenue with ₹306.87 lakh profit, while molds & dies contributed ₹574.52 lakh revenue with ₹32.60 lakh profit. Employee benefits expense increased to ₹714.55 lakh and finance costs rose to ₹1,851.46 lakh net of capitalization.
Corporate Social Responsibility & Compliance
CSR expenditure significantly exceeded requirements at ₹99.89 lakh focused on education and vocational skills. The company maintained all statutory compliances with no complaints under Vigil Mechanism or Sexual Harassment Act. Auditors KMGS & Associates issued unmodified opinion on financial statements while secretarial auditor reported no qualifications.
Related Party Transactions & Risk Management
Significant transactions occurred with Maruti Suzuki India Limited (₹4,343.98 lakh sales) and Suzuki Motor Corporation (₹813.91 lakh sales). The company has detailed risk management policies covering foreign currency exposure (USD, Euro, JPY), interest rate sensitivity (₹122.06 lakh impact from 50bps change), and credit risk management through creditworthy counterparties.