Investor Presentation for Q2 - FY 2025-26
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Candour Techtex shared its Q2/H1 FY26 investor presentation highlighting a sharp deterioration in financial performance alongside ambitious growth plans. Revenue fell 74% YoY in Q2FY26 to Rs. 102.91 crore and 50% in H1FY26 to Rs. 439.63 crore, with the company swinging to a loss of Rs. 20.05 crore in H1 (PAT margin of -4.47%) versus a profit of Rs. 11.34 crore last year. EBITDA collapsed 93% YoY in Q2 to Rs. 1.43 crore. Despite weak near-term numbers, management outlined major capacity expansion — coating capacity growing from 3.8 mn meters (FY24) to 9.5 mn meters by FY28, and lamination capacity from 6 mn to 15 mn meters. The company raised ~Rs. 198 crore via warrants and preferential allotment, with promoters subscribing to Rs. 75 crore worth of warrants. Key order wins include a Rs. 20 crore LOI from Faze Three and a Rs. 29 crore order from ASK Apparels, both to be executed by next year.
Near-term results are deeply negative with revenue and profitability collapsing, which may pressure the stock despite the long-term growth narrative and capacity expansion plan. Shareholders face near-term pain from the steep earnings decline, though the recent fundraise and capacity buildout set the stage for a potential recovery if order inflows and execution improve.