Platinum Industries Limited has informed the Exchange about Postponement of commercial production/operations
PLATIND · price
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Platinum Industries informed the exchange about postponement of commercial production at two PVC Stabilizer plants: the Palghar (Maharashtra) facility is now expected to commence by September 30, 2025, and the SC Zone (Suez, Egypt) facility by December 30, 2026. The board also approved FY25 audited results. Standalone revenue rose to Rs. 3,248.93 million (vs Rs. 2,517.92 million in FY24), with net profit at Rs. 488.38 million (vs Rs. 433.29 million). Consolidated FY25 revenue was Rs. 3,922.61 million and net profit Rs. 500.96 million. Both facilities were funded from IPO proceeds (Rs. 2,118.29 million raised in March 2024). As of March 31, 2025, Rs. 670.48 million remains unutilized for the Egypt plant and Rs. 208.51 million for Palghar. Capital Work-in-progress on a standalone basis stood at Rs. 433.91 million. New Secretarial Auditor (M/s Mayank Arora & Co.) and Internal Auditor (M/s Pipalia Singhal & Associates) were also appointed for FY26.
The delay in commissioning both new plants pushes out expected revenue and capacity contributions, which may weigh on near-term growth sentiment despite the strong FY25 earnings print. Investors should watch for revised timelines and updates on IPO fund deployment.