Earnings Call Transcript for Q4FY26
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Mitsu Chem Plast reported Q4 FY26 total income of INR86.79 crore with EBITDA of INR14.23 crore (margin 16.45%) and net profit of INR7.72 crore, up 117.90% YoY. Full-year FY26 revenue was INR350.85 crore (up 5.4% YoY), with EBITDA margin expanding 289 bps to 9.90%. Management attributed Q4 margin strength partly to raw material pricing benefits from the geopolitical situation (1-2% impact) and value-added product mix, with HDPE raw material costs up ~40% year-on-year in Q4. The company announced a new IBC (Intermediate Bulk Container) vertical at its Khalapur facility, targeting Q2 launch. Furnastra healthcare furniture currently contributes ~16% of revenue at 15%+ EBITDA margins, vs ~84% from packaging containers. The company guided for 30% revenue growth in FY27, concentrated in the second half, and reaffirmed its INR1,000 crore revenue target by FY28.
Strong bottom-line recovery with 117% net profit growth and margin expansion to double digits signals operational turnaround, though Q4 margins were inflated by one-off raw material tailwinds. The new IBC vertical and Furnastra healthcare furniture expansion represent meaningful future growth drivers, but the company's deliberate focus on profitability over top-line growth means revenue acceleration will be back-loaded to H2 FY27.