Transcript for H1 FY26 Post Earning Conference Call held on November 13, 2025
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Kaka Industries reported strong H1 FY26 results with revenue up 30% year-on-year to ₹1,248.9 million, driven by volume growth across WPC profiles, uPVC sheets, and profiles. EBITDA rose 31% YoY to ₹167.5 million (margin of 13.4%), and net profit jumped 35.9% to ₹88.5 million. The customer network grew from 300 to over 450, while PEB and HVLS fans grew ~132% YoY. Management reiterated confidence in sustaining 30% YoY growth in H2 and guided for 25-30% organic growth in FY27. A 7.5 MW captive solar plant is being set up at Kheda, expected to cut power costs by ₹40-50 lakhs per month once commissioned in late Q4 FY26. The company plans to migrate to the main board for parallel NSE/BSE listing by November 26.
Positive for shareholders: strong H1 earnings beat, capacity utilisation rising to ~80% in Aug-Sept, expanding dealer network, and cost-saving solar project signal continued growth momentum. However, gross margins dipped to 32.6% from 35.8% due to discounts in new geographies, and the company has no specific order book, relying on month-on-month orders, which may keep near-term visibility limited.