MMP Industries Limited held a Q2 and H1 FY27 Earnings Conference Call on Tuesday, 3rd November, 2026 at 12:00 P.M. IST. The call was moderated by Stellar Investor Relations.

The stated purpose of the event was to discuss the key operating and financial highlights for the second quarter and half year ended September 30, 2026.

Management Participants:

  • Mr. Arun Bhandari – Managing Director
  • Mr. Mayank Bhandari – Director
  • Mr. Sharad Khandelwal – Chief Financial Officer

The company confirmed that the investor presentation had already been uploaded on the stock exchange and that a transcript of the earnings call was attached to the regulatory filing and would be hosted on the company's website (www.mmpil.com).

The call contained forward-looking statements based on the company's beliefs and expectations, with the standard disclaimer that these are not a guarantee of future performance.

Financial Period Discussed: Q2 FY27 and H1 FY27 (Half Year ended September 30, 2026).

Key Business Updates and Forward-Looking Statements:

  • Aluminum Powders: Strong H1 performance with 41% YoY revenue growth to INR315 crores. Exports are expected to further strengthen in H2 FY27.
  • Aluminum Foils: Revenue grew 38% YoY to INR135 crores in H1. Lidding foil initiative progressed with manufacturing line ready and samples under evaluation by major dairy companies (Amul, Mother Dairy, Dinshaw's). Commercial opportunities are expected from January subject to approvals.
  • Conductors and Cables: Revenue declined 32% YoY to INR33 crores in H1 due to monsoon-related slowdown. A recovery is anticipated in H2 FY27 with revenue projected to grow 40-50% compared to H1.
  • Polymer Insulators (MMP Electricals Pvt Ltd): Revenue of ~INR1.1 crores in H1. Factory inspections completed; approval processes with utilities (PGCIL, GETCO, MPT, Karnataka Transmission) are at an advanced stage. Export orders received from Latin America. Expected EBITDA margins of 18-20% once scaled.
  • Expansion Projects:
  • BIS certification received for LT power cables; initial production commenced at Bhandara facility. Commercial sales expected from Q4 FY27.
  • Larger 6,000 MTPA LT cable expansion at Umred targeted for trials in Q4 FY28.
  • 18,000 MTPA aluminum wire rod facility is at an advanced stage; commercial production targeted for early Q4 FY27.
  • Captive Solar Park: ~7 MW project with INR30 crore investment is almost ready but commissioning delayed to Jan-Feb 2027 due to pending regulatory approvals. Expected power cost savings of ~INR3-3.5/unit.
  • Associates: Star Circlips recorded revenue of INR60.5 crores and PAT of INR10 crores in Q2. Toyal MMP recorded revenue of INR23.1 crores and PAT of INR0.4 crores.

Financial Highlights (Consolidated):

  • H1 FY27: Total Income: INR485.7 crores (up 31% YoY). EBITDA: INR40.3 crores (up 52% YoY). EBITDA Margin: 8.3% (up 117 bps YoY). PAT: INR25.8 crores (vs. INR1.6 crores in H1 FY26, which had an exceptional charge).
  • Q2 FY27: Total Income: INR252.9 crores (up 34% YoY). EBITDA: INR19.3 crores (up 44% YoY). EBITDA Margin: 7.65% (up 53 bps YoY). PAT: INR12.1 crores (up 73% YoY).
  • Sequential EBITDA margin moderation from 9.01% in Q1 to 7.65% in Q2 was attributed to inventory valuation losses (~INR2.5 crores), combined EBITDA loss of ~INR1.5 crores from two new subsidiaries, and incremental low-margin sales from the foil business.
  • The company generated positive operating cash flow of ~INR22.8 crores during H1 FY27.

Additional Notes Section

The regulatory filing included an attachment containing the full transcript of the earnings conference call. The document itself is a compliance filing pursuant to Regulation 30 of the SEBI LODR Regulations, 2015. No unpublished price sensitive information (UPSI) was indicated to be shared in the announcement. The document contains extensive financial data and operational updates as presented in the call.