Board Meeting Details

The Board of Directors meeting was held on November 02, 2026, commencing at 11:50 AM IST and concluding at 12:50 PM IST. The meeting approved the unaudited financial results for Q2 and H1 FY2027.

Financial Results - Quarter Ended September 30, 2026

Income Statement (₹ lakhs)

  • Revenue from operations: ₹27,422.53 (vs ₹20,975.87 in Q2 FY2026)
  • Other income: ₹71.35 (vs ₹38.88 in Q2 FY2026)
  • Total income: ₹27,493.88 (vs ₹21,014.75 in Q2 FY2026)

Expenses (₹ lakhs)

  • Cost of materials consumed: ₹16,315.22
  • Changes in inventories: (₹321.23)
  • Employee benefits expense: ₹2,074.50
  • Finance costs: ₹551.65
  • Depreciation and amortization: ₹1,758.60
  • Other expenses: ₹4,298.16
  • Total expenses: ₹24,676.92

Profitability (₹ lakhs)

  • Profit before tax: ₹2,816.96 (vs ₹2,080.81 in Q2 FY2026)
  • Tax expense: ₹710.03 (Current tax: ₹642.04, Earlier year tax: ₹22.49, Deferred tax: ₹45.50)
  • Profit for the period: ₹2,106.89 (vs ₹1,548.09 in Q2 FY2026)
  • Other comprehensive income: ₹1,316.32
  • Total comprehensive income: ₹3,423.21

Earnings Per Share (₹)

  • Basic EPS (before bonus): ₹6.34 (vs ₹4.66 in Q2 FY2026)
  • Diluted EPS (before bonus): ₹6.34 (vs ₹4.66 in Q2 FY2026)
  • Basic EPS (after bonus): ₹3.17 (vs ₹2.33 in Q2 FY2026)
  • Diluted EPS (after bonus): ₹3.17 (vs ₹2.33 in Q2 FY2026)

Financial Results - Half Year Ended September 30, 2026

Income Statement (₹ lakhs)

  • Revenue from operations: ₹57,467.73 (vs ₹45,031.71 in H1 FY2026)
  • Other income: ₹129.15 (vs ₹98.23 in H1 FY2026)
  • Total income: ₹57,596.88 (vs ₹45,129.94 in H1 FY2026)

Expenses (₹ lakhs)

  • Total expenses: ₹51,363.13

Profitability (₹ lakhs)

  • Profit before tax: ₹6,233.75 (vs ₹5,081.90 in H1 FY2026)
  • Tax expense: ₹1,569.75
  • Profit for the period: ₹4,664.00 (vs ₹3,788.16 in H1 FY2026)
  • Total comprehensive income: ₹6,582.59

Key Performance Metrics

Q2 FY2027 vs Q2 FY2026 Growth

  • Net Profit: +36.06% (₹21.09 crore vs ₹15.48 crore)
  • Revenue: +30.73% (₹274.23 crore vs ₹209.76 crore)
  • EBITDA: +29.80% (₹51.27 crore vs ₹39.50 crore)
  • Sales Volume: +10.08% (11,028.46 MT vs 10,018 MT)
  • EBITDA per kg: ₹46.49 (up 30% YoY)

H1 FY2027 vs H1 FY2026 Growth

  • Net Profit: +23.18% (₹46.67 crore vs ₹37.88 crore)
  • Revenue: +27.62% (₹574.67 crore vs ₹450.32 crore)
  • EBITDA: +23.97% (₹107.70 crore vs ₹86.81 crore)
  • Sales Volume: +8.04% (23,116.98 MT vs 21,395 MT)

Segment-wise Performance (Q2 FY2027 vs Q2 FY2026)

  • Pharma Packaging: +26.30% volume growth
  • Food & FMCG Packaging (including Q-Pack): +23.70% volume growth
  • Paints Packaging: +8.61% volume growth
  • Lubricants Packaging: -12.32% volume decline

Corporate Actions

Bonus Issue

The Board approved 1:1 bonus share issue (one bonus equity share of ₹5 each for every one fully paid-up equity share) on August 26, 2026. Shareholders approved this at the 29th AGM on September 21, 2026. The company allotted 3,32,28,914 bonus shares on October 12, 2026, to shareholders of record on October 9, 2026.

Dividend

The Board recommended final dividend of ₹3 per equity share (60%) for FY2025-26, in addition to interim dividend of ₹2 per share (40%) declared on April 20, 2026. Total dividend for FY2025-26 is 100% (₹5 per share).

Balance Sheet Position (as at September 30, 2026)

  • Total assets: ₹105,822.17 lakhs
  • Equity share capital: ₹1,661.59 lakhs
  • Other equity: ₹72,257.69 lakhs
  • Total equity: ₹73,919.28 lakhs
  • Non-current liabilities: ₹11,053.72 lakhs
  • Current liabilities: ₹31,748.55 lakhs

Future Prospects and Business Updates

  • Commercial production of IODEX containers expected from Q3 FY2027
  • New packs under development for 3 multinational companies (expected revenue from Q4 FY2027)
  • Eye dropper pack moulds expected by Q4 FY2027, commercial production from Q1 FY2028
  • New innovative dual packs adopted in market, expected launch in Q4 FY2027
  • Company exploring entry into Trays, Dosing Pens and Semi-conductors packaging
  • New customers acquired: Kannan Fiber Industries, Mittal Polymers Private Limited, Avakaaya Foods (food industry), Pharmaforce, Life wise Pharmaceuticals (pharma industry)
  • Printing capabilities optimization ongoing with integration in Sultanpur, Telangana
  • Panipat (Unit-14) contributing to Food & FMCG segment growth in North India

Auditor Review

The unaudited financial results were reviewed by M. Anandam & Co., Chartered Accountants, who issued a limited review report confirming compliance with Ind AS 34 and SEBI LODR Regulations.