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Revenue
₹192 Cr
verified against source
Revenue YoY
19%
reported change
EBITDA
₹17.8 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Kanpur Plastipack delivered a steady Q3 FY26 with total income of ₹195.2 crore (+19% YoY) and PAT of ₹9.2 crore (+23% YoY). EBITDA margin held at 9.1%, supported by a favorable product mix shift toward higher-margin FIBC (12.5-13.5% margin) and disciplined cost management. Export volumes were 5,900 tons, with Europe contributing 62%. The company is executing a strategic pivot into premium polypropylene yarns and nonwoven technical textiles via a JV with Italy's Segma, targeting ₹20-25 crore revenue in FY27. A ₹99 crore capex plan includes 6,000-ton FIBC capacity expansion and a needle-punch nonwoven line. Risks include potential US tariff volatility (currently 25% vs. announced 18%) and slower-than-expected ramp-up of new ventures.
Colored figures show movement against the previous available record.
Guidance to track
- Adding 6,000 tons of FIBC capacity at Unit 3 with a capex of ₹20 crore, targeting ~1,200 tons per year.
- The Segma JV for premium polypropylene yarns is expected to generate first revenues in the next financial year.
- Management expects sequential improvement in manufacturing revenue in Q4 FY26.
- Over the next few years, FIBC will grow from 54% to 70-75% of manufacturing turnover, improving blended margins.
Risks flagged
- Although 18% tariff was announced, 25% is currently applied; any reversal could impact export competitiveness.
- Segment results showed a loss of ₹3.53 crore in trading despite ₹47 crore revenue; management could not explain on call.
- Valex Ventures and the Segma JV are expected to take years for meaningful contribution; near-term financial impact is limited.
- Employee costs rose by ₹2.5 crore in Q3, partly due to new wage code provisions; margin impact needs monitoring.
Key quotes
- I do not think it is at rest until it is really at rest.
- It is a value creation product. It is not a cost optimizing product.
- The business is getting more and more complex as the time is proceeding... due to the unavailability of people trained to work.
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