Investor presentation on H1FY26 Performance
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Malpani Pipes reported H1FY26 revenue of ₹69.56 crore, up 20.49% year-on-year, with EBITDA rising 23.97% to ₹6.93 crore and EBITDA margin expanding to 9.96% (from 9.68%). Profit after tax grew 22.78% to ₹3.88 crore. The company, which recently listed on BSE SME with an IPO oversubscribed 125 times, highlighted an installed capacity of 16,800+ MTPA and a strong order book of over ₹60 crore. Management projects utilization rising to 90-95% by Q1 FY27, with PVC utilization climbing from 20% to 60%, driving operational leverage and stronger margins. The company also announced an exclusive India distribution tie-up with Chinese firm Yongkang Gaocheng for power tools and agri-equipment, valid until August 2030, marking a diversification beyond its core pipe business.
Positive for shareholders — margin expansion backed by rising capacity utilization and strong order pipeline. The diversification into power tools and telecom ducts reduces dependence on core pipe business and opens new growth avenues, though EPS diluted due to post-IPO equity expansion.