Export Volume (Q3)
5,900 tons
-10% QoQ
Lower due to fewer working days and manpower availability during festive season.
KANPURPLASTIPACK
Other
14 Feb 2026
Kanpur Plastipack Ltd — Q3 FY26
Kanpur Plastipack delivered a steady Q3 FY26 with total income of ₹195.2 crore (+19% YoY) and PAT of ₹9.2 crore (+23% YoY).
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
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.
Key Numbers
FIBC Share of Manufacturing
54%
+26pp target
Management targets FIBC to reach 70-75% of manufacturing turnover over next few years.
Europe Export Share
62%
flat
Europe remains the largest market; EU FTA expected to boost competitiveness from next calendar year.
Repeat Customer Share
80-85%
stable
High repeat business provides revenue visibility and reduces volatility.
Management Guidance
FIBC capacity expansion to 24,000 tons over 5 years
Adding 6,000 tons of FIBC capacity at Unit 3 with a capex of ₹20 crore, targeting ~1,200 tons per year.
Management guidance expansionPP yarn JV revenue of ₹20-25 crore in FY27
The Segma JV for premium polypropylene yarns is expected to generate first revenues in the next financial year.
Management guidance revenueQ4 manufacturing turnover to be better than Q3
Management expects sequential improvement in manufacturing revenue in Q4 FY26.
Management guidance revenueFIBC share to increase to 70-75% of manufacturing
Over the next few years, FIBC will grow from 54% to 70-75% of manufacturing turnover, improving blended margins.
Management guidance growthKey Risks
US tariff uncertainty
Although 18% tariff was announced, 25% is currently applied; any reversal could impact export competitiveness.
high · management_commentaryTrading division loss unexplained
Segment results showed a loss of ₹3.53 crore in trading despite ₹47 crore revenue; management could not explain on call.
medium · analyst_questionSlow ramp-up of new ventures
Valex Ventures and the Segma JV are expected to take years for meaningful contribution; near-term financial impact is limited.
medium · management_commentaryEmployee cost increase
Employee costs rose by ₹2.5 crore in Q3, partly due to new wage code provisions; margin impact needs monitoring.
low · data_observationNotable 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.
Frequently Asked Questions
What was Kanpur Plastipack's revenue in Q3 FY26?
Kanpur Plastipack reported revenue of ₹192 Cr in Q3 FY26, representing a +19% change compared to the same quarter last year.
What guidance did Kanpur Plastipack management give for FY27?
FIBC capacity expansion to 24,000 tons over 5 years: Adding 6,000 tons of FIBC capacity at Unit 3 with a capex of ₹20 crore, targeting ~1,200 tons per year. PP yarn JV revenue of ₹20-25 crore in FY27: The Segma JV for premium polypropylene yarns is expected to generate first revenues in the next financial year. Q4 manufacturing turnover to be better than Q3: Management expects sequential improvement in manufacturing revenue in Q4 FY26. FIBC share to increase to 70-75% of manufacturing: Over the next few years, FIBC will grow from 54% to 70-75% of manufacturing turnover, improving blended margins.
What are the key risks for Kanpur Plastipack in FY27?
Key risks include US tariff uncertainty — Although 18% tariff was announced, 25% is currently applied; any reversal could impact export competitiveness.; Trading division loss unexplained — Segment results showed a loss of ₹3.53 crore in trading despite ₹47 crore revenue; management could not explain on call.; Slow ramp-up of new ventures — Valex Ventures and the Segma JV are expected to take years for meaningful contribution; near-term financial impact is limited.; Employee cost increase — Employee costs rose by ₹2.5 crore in Q3, partly due to new wage code provisions; margin impact needs monitoring..
Did Kanpur Plastipack meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Kanpur Plastipack Q3 FY26 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary verified against official BSE/NSE filings.