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Raw material cost inflation from Middle East tensions
View Risks →Stylam Industries Ltd — Q4 FY26
Stylam Industries reported a strong Q4 FY26 with record monthly sales in April and gross margins of 49%.
bullish
medium
✓ Verified against BSE filing
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Stylam Industries reported a strong Q4 FY26 with record monthly sales in April and gross margins of 49%. The new greenfield laminate plant in Manaktra is set to commence commercial production by end-June/early July, delayed due to environmental clearance issues. Management guided 300 crore revenue from the new plant in FY27, ramping to 600-700 crore in FY28 at 80% utilization. The company expects 20-25% overall revenue growth in FY27, driven by new capacity and acrylic segment scaling to 50-70 crore. Gross margins are expected to remain stable with minor fluctuations, supported by cost pass-through and operating leverage. Key risk: sustained raw material inflation from Middle East tensions could compress margins if price hikes are not fully absorbed by customers.
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New plant revenue guidance FY27
300 Cr
+100% YoY (vs FY26 new plant contribution)
Management expects 300 crore revenue from the new plant in the first three quarters of FY27.
Acrylic segment revenue target FY27
50-70 Cr
+233% YoY (vs FY26 acrylic revenue of 15 Cr)
Acrylic segment is expected to grow significantly with potential orders from Japanese partner IA.
Export share of revenue
75%
Flat YoY
Export revenue remained at 75% of total revenue in FY26, expected to continue in FY27.
New plant capacity utilization target FY28
80%
+80pp vs FY27 start
Management targets 80% utilization of the new plant by FY28, implying revenue of 600-700 crore.
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Guidance and risk preview
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