Investor Presentation for the Quarter and Financial Year ended March 31, 2026
TARSONS · price
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Tarsons Products reported consolidated revenue of ₹422.5 crores for FY26, up 8% YoY, but adjusted PAT declined 48% to ₹15.5 crores. The PAT decline was primarily due to increased depreciation (₹96.5 crs vs ₹62.5 crs) and higher finance costs (₹22.5 crs) from new manufacturing facilities at Panchla and Amta. Cash PAT, however, grew strongly by 21% to ₹112 crores, indicating underlying cash generation remains healthy. EBITDA margin contracted to 27.9% from 30.6% in FY25 due to raw material price increases and facility-related expenses. New facilities have started commercial supplies with full commissioning expected by H1FY27. Domestic business showed 12% YoY growth in Q4FY26, while exports were impacted by Middle East geopolitical disruptions.
The stock may face near-term pressure as reported PAT declined significantly due to the new facility ramp-up costs, but the strong 21% growth in Cash PAT and management's confidence in H1FY27 revenue commencement from new capacities could provide support for long-term investors.