BSEBai-Kakaji Polymers LtdMediumNeutral
Announced Sat, 30 May · 17:36 IST

Pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith Investor Presentation on the ....

Mgmt Guided Margin ImprovementCfo Debt Reduction RoadmapInvestor Communications View source PDF

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Price reaction · full curve 14 horizons · vs prior close
-6.7%1-day move
₹179.00
prior close
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-6.7-5.0-7.0-5.0-12.3-2.0+14.5+11.7
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AI summary

Bai-Kakaji Polymers reported FY26 revenue of ₹365 Cr (+12% YoY) and PAT of ₹27 Cr (+49% YoY), with EBITDA margin expanding 300 bps to ~13% vs FY25's 10.4%. Gross margin improved 900 bps to 32% driven by backward integration of raw-material trading completed March 2025. The company operates two growth engines: rigid PET preforms and caps (₹351 Cr, 822+ customers, ~87% utilisation across 4 Maharashtra plants) and flexible packaging via wholly-owned subsidiary Mundada Polymers (₹14 Cr, already at 96.5% utilisation on shrink film). Total group gross block is ₹260 Cr. Balance sheet strengthened with net worth growing from ₹54 Cr to ₹176 Cr and borrowings reduced ~40% to ₹66 Cr after ₹64 Cr debt repaid from IPO proceeds. Five margin expansion levers are cited: capacity ramp, solar power (5 MW operational), debt repayment, backward integration, and product mix.

Likely market impact

The margin improvement trajectory (EBITDA up 300 bps, PAT up 180 bps) and balance sheet deleveraging signal strong execution quality. The two-engine model with flexible segment ramping toward full utilisation and a planned RPET plant in FY27 provide multiple growth vectors, supporting potential re-rating for this BSE SME listed company.