FLAIR WRITING INDUST LTD

Manufactures and sells writing instruments (pens), creative stationery products, and steel bottles and houseware, primarily under its own brands, which made up 91% of FY26 revenue. The legacy Pens segment is targeted for 5% growth in FY27, while the Creative segment grew 74% in FY26 to ₹298 crores and the Steel Bottles and Houseware segment grew 95% to ₹85 crores; together the latter two contributed 31% of FY26 revenue, up from around 11% in FY21. Sales go to domestic retail and large-format stores driven by back-to-school demand, as well as to export OEM and own-brand buyers, with 121 new products launched in FY26 and fresh orders of ₹20 crores secured from large-format stores in Creative and Steel Bottles. A new Valsad manufacturing facility commenced operations in Q1 FY27, with capacity ramp-up by Q3 FY27, taking peak revenue capacity from current and Valsad infrastructure to ₹1,750 crores at optimum utilisation. The biggest input cost is materials at 50.1% of revenue, of which around 35% are crude-linked raw materials whose prices have moved 0–50% on the back of West Asia geopolitics, driving a guided Q1 FY27 EBITDA margin impact of around 4%.