Transcript of the Earning Call held on May 22, 2026.

Flair Writing Industries delivered strong FY26 results with revenue of INR1,250.1 crores, up 15.8% YoY, meeting its 15% growth guidance. EBITDA grew 21.5% to INR224.5 crores with margin expanding 85 bps to 18%. The company declared a final dividend of INR0.50 per share (10% of face value). Key growth drivers were the Creative segment (74% growth to INR298 crores) and Steel Bottles and Houseware (95% growth to INR85 crores), which together now contribute 31% of total revenue. Own brand sales increased to 91% of revenue, up from 87% in FY25. The company guided for continued 15% revenue growth in FY27, expecting Pens to grow 5%, Creative 50%, and Steel Bottles 40%. Management flagged that crude oil prices have risen 10-50% for raw materials (35% of cost base), which will impact Q1 FY27 margins by approximately 4%, but expects full-year margins to remain around 17-19% as the Valsad facility comes online and pricing actions take effect. The new Valsad manufacturing facility is expected to commence operations from Q1 FY27 with INR70 crores additional capex planned for the year, enabling peak revenue capacity of INR1,750 crores.