Enclosed is the Addendum giving insights of the Company shared by Chairman and Managing Director.
BEPL · price
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Bhansali Engineering Polymers' Chairman shared key insights at the 41st AGM. The company has revised its capacity expansion plan, now targeting 1,00,000 TPA (up from current 75,000 TPA), instead of the earlier announced 2,00,000 TPA expansion that would have required Rs.1,700 crore in capex. This revised plan will be funded entirely through internal accruals, keeping the company debt-free, and will focus on specialty grades to improve margins rather than low-margin ABS Natural Grade. Management expects approximately 2X year-on-year profit growth once the expansion is complete, with benefits flowing through from FY 2027-28 onwards. The company highlighted it has grown from 6,000 TPA initial capacity to 75,000 TPA today, runs at optimum capacity, sells only in domestic markets, and offers 300+ grades with 1,200+ colors. It has paid Re.1 dividend for 16 consecutive quarters and a special Rs.14 dividend in FY 23-24.
Positive for shareholders — the disciplined, debt-free expansion strategy with focus on higher-margin specialty products suggests management is prioritizing profitability over volume. The 2X profit growth guidance from FY 2027-28 and commitment to remain debt-free should be viewed favorably by long-term investors.