Company Overview

Mamata Machinery Limited (CIN: L29259GJ1979PLC003363) is India's leading manufacturer of converting machinery and among the top five globally in flexible packaging machinery. The company operates across co-extrusion, converting, and packaging segments with over 5,400 machines installed across 80+ countries.

Financial Performance FY26

Consolidated Results:

  • Revenue from operations: ₹23,300.18 lakhs (FY25: ₹25,457.80 lakhs), decrease of 8.48%
  • Profit Before Tax: ₹1,959.70 lakhs (FY25: ₹5,532.49 lakhs)
  • Profit After Tax: ₹1,505.14 lakhs (FY25: ₹4,075.38 lakhs), decrease of 63.07%
  • EBITDA margin: 8.2% (FY25: 21.5%)
  • Exceptional items: ₹305.81 lakhs (related to new labor code implementation)
  • Basic EPS: ₹6.12 (FY25: ₹16.56)

Standalone Results:

  • Revenue from operations: ₹18,855.26 lakhs (FY25: ₹22,271.30 lakhs), decrease of 15.34%
  • Profit After Tax: ₹1,025.90 lakhs (FY25: ₹3,369.09 lakhs), decrease of 69.55%
  • Exports contribution: ₹10,325.54 lakhs (FY25: ₹14,733.46 lakhs)

Balance Sheet Position (as at 31st March 2026):

  • Total assets: ₹26,761.09 lakhs (FY25: ₹25,914.37 lakhs)
  • Total equity: ₹18,507.00 lakhs (FY25: ₹17,115.78 lakhs)
  • Total borrowings: ₹794.01 lakhs (FY25: ₹376.34 lakhs), primarily for vehicle acquisitions
  • Cash and cash equivalents: ₹1,219.66 lakhs (FY25: ₹5,393.61 lakhs)
  • Net-debt free status with cash reserves of ₹69.3 crore

Operational Highlights

Machine Sales (Consolidated):

  • Extrusion/Co-extrusion: 6 machines valued at ₹3,389.88 lakhs
  • Converting machines: 190 machines valued at ₹10,864.51 lakhs
  • Packaging: 17 machines valued at ₹4,883.61 lakhs

Key Developments:

  • US market revenue declined by approximately 50% due to tariff policy uncertainty
  • Domestic packaging sales grew 55%
  • First ROW (Rest of World) packaging order from South Africa customer, scheduled for Q2 FY27 delivery
  • First orders for 9-layer blown film plants from domestic and export customers
  • Order book: ₹89.6 crore, 34% higher YoY

Technological Innovations

RecTech Launch:

  • Fully recyclable mono-material film technology launched at Plastindia 2026
  • Barrier performance certified by Indian Institute of Packaging, Kolkata
  • Recyclability confirmed by CIPET
  • Supported by complete ecosystem: 7-layer and 9-layer co-extrusion lines, pouch makers, HFFS and VFFS machines

Patent Developments:

  • European patent granted for Cross Sealing Device (January 2026)
  • European patent granted for Multi-Purpose Sealing Module
  • Total patents: 5 granted with 3 more under filing

Corporate Actions

Dividend:

  • Board recommended dividend of ₹0.50 per equity share (5% of face value ₹10)
  • Record date: July 31, 2026
  • Payment date: On or before September 9, 2026
  • Total outflow: approximately ₹1.23 crore

Board Changes:

  • Varun C. Patel appointed as Non-executive Non-independent Director (August 8, 2025)
  • Prachi P. Shah appointed as Independent Director (May 29, 2026), seeking shareholder approval for 5-year term
  • Ruchita T. Patel resigned as Independent Director (June 1, 2026)
  • Chandrakant B. Patel retires by rotation, eligible for re-appointment

Annual General Meeting

47th AGM Details:

  • Date: August 10, 2026
  • Time: 11:00 AM
  • Mode: Video conferencing/Other audio-visual means
  • Deemed venue: Registered Office at Survey No. 423/P, Sarkhej-Bavla Road, Moraiya, Sanand, Ahmedabad - 382213

Subsidiary Performance

Mamata Enterprises Inc., USA:

  • 100% wholly-owned subsidiary
  • Revenue: ₹6,298.72 lakhs
  • Profit After Tax: ₹377.04 lakhs
  • Share capital: ₹1,235.02 lakhs

Audit and Regulatory Compliance

  • Statutory auditors: SHBA & Co. LLP (formerly Bathiya & Associates LLP), FRN: 101046W/W100063
  • Lead audit partner: Jimesh P. Shah (Membership No: 169252)
  • Auditors issued unmodified opinion, highlighting revenue recognition as key audit matter
  • No material fraud reported during the year
  • No defaults in loan repayments
  • CSR expenditure: ₹63.00 lakhs against requirement of ₹63.68 lakhs
  • Full compliance with regulatory requirements including no benami property, no struck-off company transactions

Forward Outlook

  • Expect growth return and profitability normalization in FY27
  • Priority on deepening global presence, expanding product categories, and strengthening customer relationships
  • Packaging segment targeted to grow 30-40% annually
  • Focus on sustainable packaging solutions including RecTech technology