Transcript of the discussion on the Audited Financial statement (Consolidated and Standalone) of the company for the half year ended and financial year ended March 31, 2026 at the analyst ....
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Glen Industries, which makes sustainable plastic and paper packaging for food service, QSR, FMCG and retail, reported FY26 total income of INR 205.16 crores, EBITDA of INR 38.50 crores and profit after tax of INR 16.50 crores. Thin-wall food containers made up about 82.72% of revenue, with PLA and paper straws at 17.16%. Management reiterated sustainable EBITDA margins of 18–19% and guided for FY28 revenue of INR 500+ crores and EBITDA of INR 90+ crores once the new project ramps up. The new project will roughly triple plastic food container capacity and add around 750 metric tons of paper-based packaging including paper cups, with commercial production now expected from September 2026 after a three-month delay due to West Bengal government approvals. Project cost has risen from INR 100 crores to INR 130–135 crores (driven by currency moves, scope additions and machinery upgrades like injection moulding machines rising from 20 to 29 units), but the extra INR 30–32 crores will be fully funded from internal accruals with no new debt or equity.
Positive for shareholders: management has laid out a clear doubling-of-revenue path to FY28 without any equity dilution, supported by a waiting pipeline of export customers. Near-term watchpoints are the slim 3-month project delay and low capacity utilisation in the seasonal straws business (~28–34%), but these were flagged as structural rather than worrying.