Company Overview

Pyramid Technoplast Limited (Scrip Code: 543969) is an industrial packaging company manufacturing rigid Intermediate Bulk Containers (IBCs), Polymer Drums, and Mild Steel (MS) Drums. The document is the Annual Report for Financial Year 2025-2026 submitted pursuant to Regulation 30 and Regulation 34(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Highlights

  • Total Income: ₹683.8 crore (up from ₹595.14 crore in FY25)
  • Revenue from Operations: ₹681 crore (up 15% from ₹591.34 crore in FY25)
  • EBITDA: ₹58.9 crore (up 26% from ₹46.77 crore in FY25)
  • PAT: ₹28.8 crore (up from ₹26.67 crore in FY25)
  • EPS: ₹7.93 (compared to ₹7.38 in FY25)
  • Dividend Recommended: ₹0.50 per share (5% of face value ₹10)

Operational Highlights

  • Production Capacity: 76,931 MTPA (up 22% YoY from 62,887 MTPA)
  • Volume Growth: 20% YoY (52,830 MTPA in FY26 vs 43,993 MTPA in FY25)
  • Capacity Utilization: 68% overall
  • IBC Revenue: ₹246 crore (36% of total revenue, up from 34% in FY25)
  • Working Capital Cycle: 77 days (79 inventory days, 68 debtor days, 31 creditor days)

Manufacturing Capacity Expansion

  • Wada Plant (Unit 8): Fully operational across HDPE, IBC, and MS Drum lines with utilization at HDPE 72%, IBC 68%, MS 51%
  • Recycling Plant (Unit 9): Commissioned in October 2025 with 5,000 MTPA capacity, awaiting final PCB license for unwashed containers
  • Total Manufacturing Units: 9 units across Gujarat and Maharashtra
  • Solar Power Project: 14.25 MW capacity commissioned, delivered ₹1.5 crore savings in Q4 FY26, expected annual savings of ₹15 crore

Product Segment Performance

  • IBC Segment: Revenue ₹246 crore (24.2% growth), volumes 3,35,652 units (31.4% growth)
  • Polymer Drums: Revenue ₹289 crore (12% growth), volumes 23,057 MTPA (13.1% growth)
  • MS Drums: Revenue ₹70 crore (11.1% growth), volumes 8,515 MTPA (14.6% growth)

Capital Expenditure and Investments

  • FY26 Capex: ~₹90 crore invested in Wada plant, recycling unit, and solar project
  • FY27 Planned Capex: ~₹20 crore (maintenance and demand-led only)
  • Solar Project: 14.25 MW capacity across Gujarat and Maharashtra facilities
  • Recycling Plant: Investment of ₹8-10 crore, expected payback period 2-3 years

Corporate Actions

  • Dividend: Recommended final dividend of ₹0.50 per share, record date September 11, 2026
  • AGM: 28th Annual General Meeting scheduled for September 22, 2026
  • Auditor Change: Proposal to appoint M/s Desai Saksena & Associates as statutory auditors for 5 years
  • Director Re-appointment: Mr. Jaiprakash Bijaykumar Agarwal retires by rotation and seeks re-appointment

Balance Sheet Position

  • Net Worth: ₹276.7 crore
  • Net Debt/Equity: 0.66x
  • Current Ratio: 1.7x
  • Fixed Asset Turnover: 2.9x

Sustainability Initiatives

  • Solar Power: 14.25 MW capacity expected to avoid 15,252 metric tonnes of CO2 emissions annually
  • Recycling: Plant to cover 10-12% of raw material requirements once fully operational
  • CSR Spending: ₹59.60 lakh spent on education, healthcare, and community development

Future Outlook

  • FY27 Revenue Target: Approaching ₹800 crore
  • EBITDA Margin Guidance: 11-12% (vs 8.6% in FY26)
  • Capacity Utilization Target: 80% across facilities
  • Growth Drivers: Continued demand from chemical, pharmaceutical, and agrochemical sectors