Detailed Summary
Financial Results - Consolidated (Quarter Ended June 30, 2026)
Income Statement (₹ in Lakhs):
- Revenue from Operations: ₹1,69,271 (compared to ₹1,35,265 in Q2 FY25, +25.1% YoY)
- Other Income: ₹109 (compared to ₹93 in Q2 FY25)
- Total Income: ₹1,69,380
- Cost of Materials Consumed: ₹1,24,878
- Employee Benefits Expenses: ₹7,754
- Finance Costs: ₹1,688
- Depreciation and amortization: ₹5,099
- Other Expenses: ₹13,792
- Total Expenditure: ₹1,53,623
- Profit Before Tax: ₹15,757 (compared to ₹12,934 in Q2 FY25)
- Tax Expenses: ₹3,971
- Net Profit After Tax: ₹11,786 (compared to ₹9,655 in Q2 FY25, +22.1% YoY but down from ₹13,431 in Q1 FY26)
- Earnings Per Share (Basic): ₹2.35 (compared to ₹2.10 in Q2 FY25)
Segment Performance (Consolidated):
- Polymer Products Revenue: ₹1,07,274
- Composite Products Revenue: ₹61,997
- Polymer Products Profit before tax and interest: ₹10,205
- Composite Products Profit before tax and interest: ₹7,131
Key Ratios (Consolidated):
- EBITDA Margin: 13.31%
- Net Profit Margin: 6.96%
- Current Ratio: 3.82
- Debt to Equity: 7.18
- Interest Service Coverage Ratio: 13.36
Financial Results - Standalone (Quarter Ended June 30, 2026)
- Revenue from Operations: ₹86,683
- Profit After Tax: ₹5,617
- Earnings Per Share (Basic): ₹1.14
Board Appointments
The Board approved the appointment of two additional Non-Executive Independent Directors:
Mr. Devendra Jitendra Shah (DIN: 03095028)
- Age: 71 years, Fellow Member of Institute of Company Secretaries of India
- 51 years experience in Company Law, Secretarial Practice, Corporate Legal Matters
- Formerly with RBI and Mafatlal Group, served as Company Secretary/Vice-President (Legal) at Kesar Enterprises Ltd.
- Term: Five consecutive years from August 05, 2026 to August 04, 2031
Mrs. Hema Rajendra Gaitonde (DIN: 11835462)
- Age: 56 years, Commerce and Law Graduate, Fellow Member of ICSI and ICAI
- 35 years experience in corporate law, finance, and regulatory compliance
- Currently engaged in independent practice providing advisory services
- Term: Five consecutive years from August 05, 2026 to August 04, 2031
Both appointments are subject to shareholder approval at the ensuing AGM.
Annual General Meeting
- 36th AGM to be held on Tuesday, September 22, 2026 at 04:00 PM IST
- Meeting will be conducted through Video Conferencing/Audio-Visual means
- Record Date for final dividend: Tuesday, September 15, 2026
Committee Reconstitution
Effective August 05, 2026, the following committees were reconstituted:
Audit Committee:
- Mr. Deepak Bakhshi (Chairperson)
- Mr. Devendra Jitendra Shah (Member)
- Mr. Bharat Kumar Vageria (Member)
Nomination and Remuneration Committee:
- Mr. Deepak Bakhshi (Chairperson)
- Mr. Devendra Jitendra Shah (Member)
- Mr. M. K. Wadhwa (Member)
Compensation Committee:
- Mr. Deepak Bakhshi (Chairperson)
- Mr. Devendra Jitendra Shah (Member)
- Mr. Vishal Jain (Member)
QIP Proceeds Utilization
The company raised ₹800 crore through Qualified Institutional Placement (QIP) in November 2025:
- Net proceeds received: ₹781.13 crore (after ₹18.87 crore issue expenses)
- Utilization as of June 30, 2026:
- Repayment of borrowings: ₹400.00 crore (fully utilized)
- Capex for automation and re-engineering: ₹15.07 crore utilized (₹74.30 crore unutilized)
- Equipment for recycling plants: ₹18.99 crore utilized (₹35.91 crore unutilized)
- De-odorizing equipment: ₹2.57 crore utilized (₹12.23 crore unutilized)
- Inorganic growth/acquisitions: ₹1.52 crore utilized (₹220.54 crore unutilized)
- Unutilized funds temporarily invested in fixed deposits and monitoring accounts
Auditor Information
The financial results were reviewed by joint statutory auditors:
- M/s. K P M R & Co. (Firm Registration No: 104497W)
- M/s. Raman S. Shah & Co. (Firm Registration Number: 111918)
The review report covers consolidated results including 10 subsidiaries and 1 joint venture.