FIBC capacity utilization
83%
flat YoY
Utilization at unit 2 is 83% (15,000 tons produced vs 18,000 tons capacity).
KANPURPLASTIPACK
Other
2026-04-??
Kanpur Plastipack Ltd — Q4 FY26
Kanpur Plastipack reported Q4 FY26 standalone revenue of ₹183.1 crore (+6.16% YoY) and EBITDA margin of 13.69%, with PAT of ₹14.53 crore (+14% YoY).
✓ Verified against BSE filing
2-Min Summary
✦ AI-Generated from Full Transcript
Kanpur Plastipack reported Q4 FY26 standalone revenue of ₹183.1 crore (+6.16% YoY) and EBITDA margin of 13.69%, with PAT of ₹14.53 crore (+14% YoY). Full-year revenue grew 26.26% to ₹726.67 crore, driven by improved realizations and value-added product mix. The company is executing a strategic shift from volume-driven to value-added segments, including FIBC capacity expansion (6,000 tons over 4 years) and entry into non-woven technical textiles (commercial production from September). Management guided for 10-15% revenue growth in FY27 with sustained margins, though near-term order book faces headwinds from inventory correction and raw material volatility. Key risk: sustained high polypropylene prices (new normal $1,200-1,350/ton) could pressure margins if pass-through lags.
Key Numbers
Export geographic mix - Europe
56.5%
stable YoY
Europe remains the largest export region, followed by South America (21.8%) and North America (16.9%).
FIBC expansion run-rate target FY27
2,400 tons
+100% YoY
New unit 3 FIBC capacity to reach 2,400 tons run-rate by end of FY27, up from 1,200 tons in FY26.
Non-woven revenue guidance FY28
₹100-120 crore
+300-380% YoY
Non-woven technical textiles expected to generate ₹100-120 crore revenue in FY28 at 15-16% EBITDA margin.
Management Guidance
Revenue growth 10-15% in FY27
Management expects top-line growth of 10-15% in FY27, driven by FIBC expansion and non-woven contribution.
Management guidance revenueEBITDA margins to sustain at ~11%
Management indicated that EBITDA margins will remain similar to current levels (~11% for manufacturing segment) in FY27.
Management guidance marginsNon-woven commercial production from September 2026
First non-woven machine to start commercial production by September 2026, second by December 2026, targeting ₹20-25 crore revenue in FY27.
Management guidance expansionFIBC capacity expansion to 1,800 tons in FY27
New FIBC unit 3 to produce 1,800 tons in FY27, ramping to 6,000 tons over four years.
Management guidance growthKey Risks
Raw material price volatility
Polypropylene prices surged from $1,000 to $1,700/ton due to Iran conflict; new normal expected at $1,200-1,350/ton, which could compress margins if not fully passed through.
high · management_commentaryOrder book moderation from inventory correction
Lead times reduced from 6-8 weeks to 3-4 weeks as customers order smaller quantities more frequently, indicating near-term demand softness.
medium · management_commentaryDFIA income reversal risk
Government suspension of import duty on petrochemicals led to a ₹3.65 crore reversal of DFIA income in Q4; further reversals possible if suspension extends.
medium · analyst_questionExecution risk in non-woven segment
Entry into technical textiles is new; achieving targeted margins of 15-16% depends on capacity utilization and market acceptance, with no prior track record.
medium · data_observationNotable Quotes
The transition towards a more diversified and value added portfolio during the next year will continue but the direction remains clear.
We should look at about 10 to 15% growth.
The new normal could be anywhere between $1,200 and $1,350 for us as our raw material.
Frequently Asked Questions
What was Kanpur Plastipack's revenue in Q4 FY26?
Kanpur Plastipack reported revenue of ₹180 Cr in Q4 FY26, representing a +6.16% change compared to the same quarter last year.
What guidance did Kanpur Plastipack management give for FY27?
Revenue growth 10-15% in FY27: Management expects top-line growth of 10-15% in FY27, driven by FIBC expansion and non-woven contribution. EBITDA margins to sustain at ~11%: Management indicated that EBITDA margins will remain similar to current levels (~11% for manufacturing segment) in FY27. Non-woven commercial production from September 2026: First non-woven machine to start commercial production by September 2026, second by December 2026, targeting ₹20-25 crore revenue in FY27. FIBC capacity expansion to 1,800 tons in FY27: New FIBC unit 3 to produce 1,800 tons in FY27, ramping to 6,000 tons over four years.
What are the key risks for Kanpur Plastipack in FY27?
Key risks include Raw material price volatility — Polypropylene prices surged from $1,000 to $1,700/ton due to Iran conflict; new normal expected at $1,200-1,350/ton, which could compress margins if not fully passed through.; Order book moderation from inventory correction — Lead times reduced from 6-8 weeks to 3-4 weeks as customers order smaller quantities more frequently, indicating near-term demand softness.; DFIA income reversal risk — Government suspension of import duty on petrochemicals led to a ₹3.65 crore reversal of DFIA income in Q4; further reversals possible if suspension extends.; Execution risk in non-woven segment — Entry into technical textiles is new; achieving targeted margins of 15-16% depends on capacity utilization and market acceptance, with no prior track record..
Did Kanpur Plastipack meet its previous quarter's guidance?
Of 1 tracked promise, management 0 met, 0 close, 1 missed.
Where can I read the full Kanpur Plastipack Q4 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.