Kuantum Papers Limited has informed the Exchange about Transcript
KUANTUM · price
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Kuantum Papers reported Q1 FY26 operational income of Rs. 223 crores, down 20.6% year-on-year, mainly due to a planned 25-day shutdown of its largest machine (PM4) for upgradation, which cut production by ~9,000 tons. EBITDA fell 43.6% YoY to Rs. 40 crores with margins at 18.1%, but management noted that without the shutdown, margins would have been ~22% as in Q4 FY25. Net profit declined 68.3% YoY to Rs. 12 crores. The company has spent ~Rs. 400 crores of its Rs. 735 crore capex plan, with PM1 upgradation in November, PM2 in December, and PM3 in March 2026, taking total capacity significantly higher. Management is also investing in a coating plant to grow the specialty paper share from 20% to 30% of the portfolio. Industry headwinds from cheap imports persist, though the DGTR has begun an anti-dumping investigation on paperboard imports from Indonesia, with potential positive impact expected in 4-12 months.
Short-term results are weak due to the planned shutdown, but management is guiding for a strong recovery in FY27 as all upgraded machines come online, lifting capacity by 30-100% across units. The specialty paper expansion and potential anti-dumping relief are positive structural drivers for margins, though near-term pricing pressure (7-8% decline in July-August) may keep Q2 under check.