Pyramid Technoplast Limited has informed the Exchange about Transcript
PYRAMID · price
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Pyramid Technoplast reported Q1 FY26 revenue of ₹164 crore (up 23% YoY but down 4% QoQ), with EBITDA of ₹14 crore (up 18% QoQ) at an 8.6% margin and net profit of ₹8 crore. The new Wada plant in Maharashtra commenced production on June 28, 2025, contributing initial revenue of ₹50-70 crore expected in FY26. IBC segment led growth with 55% volume and 42% revenue YoY, with management claiming 35-40% market share. Capacity expanded 34% to ~68,800 MT per annum, running at 73.4% utilization. Management guided for FY26 revenue of ~₹700 crore, EBITDA of ~₹70 crore, and double-digit margins. A 15 MW solar plant (saving ~₹10 crore/year) and a 5,000 MT recycling plant are both expected to start in September 2025, though both have faced timeline delays. FY26 capex was revised up to ₹70-80 crore from earlier guidance of ₹50-60 crore, while FY27 capex guidance was cut to ₹10-20 crore.
Positive near-term: Wada ramp-up plus solar and recycling plants coming online in September should improve margins and reduce costs through H2 FY26. Margin pressure in the quarter (8.6%) is likely temporary, with management confident on double-digit margins ahead. However, repeated delays in solar commissioning and modest Q1 revenue dip raise some execution concerns. Debt is expected to stay under ₹100 crore, with term loan repayment being the priority for surplus cash.