Recycles PET scrap into rPET (recycled PET) chips and downstream polyester products such as recycled polyester staple fibre (RPSF), spun yarn and filament yarn, which it sells to global and national brand owners in the textile and packaging industries. The rPET business sits under subsidiary Ganesha Ecopet at a Warangal plant, where a 22,500-tonne Brownfield line has been commissioned and the rPET line is running at ~85% utilisation. FY26 consolidated revenue was ₹1,481.66 crore with an EBITDA margin of 10.74%; raw materials (PET scrap and others) were the dominant cost at 62.4% of revenue, with PET scrap prices at ₹55-56/kg. The March 2026 MoEF notification reinstated a 40% mandatory recycled plastic usage target, and the rPET industry is currently in undersupply (4.5-5 lakh tonne demand vs 2.5-2.8 lakh tonne supply). Filament yarn has been qualified with a leading global textile brand for ramp-up over the next 3-6 months, while the legacy RPSF/spun yarn business is facing near-term pressure from crude-linked feedstock costs and geopolitical disruptions. FY26 operating cash flow was ₹170 crore and net debt was ₹375 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. rPET (recycled PET chips), Recycled Polyester Staple Fibre (RPSF), Spun yarn, Filament yarn. Recycled polyester manufacturing, demand driven by regulatory mandates on recycled plastic usage
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,021 | 1,180 | 1,123 | 1,466 | 1,482 |
| EBITDA (ex other income) | 114 | 128 | 138 | 211 | 142 |
| margin % | 11.2 | 10.8 | 12.3 | 14.4 | 9.6 |
| Owners' profit | 62 | 69 | 41 | 103 | 38 |
| EPS, as reported (₹) | 28.39 | 31.88 | 18.15 | 40.74 | 14.50 |
| ROE % · ROCE % | 10.8 · 10.9 | 10.9 · 11.3 | 3.9 · 7.1 | 9.0 · 10.9 | 3.0 · 5.6 |
| Debt / equity (x) | 0.62 | 0.79 | 0.38 | 0.48 | 0.39 |
| Cash from operations | 65 | 20 | 43 | 41 | 171 |
| Capex | (277) | (205) | (157) | (208) | (176) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 387 | 398 | 344 | 337 | 363 | 357 | 424 | 424 |
| Profit before tax | 36 | 37 | 32 | 14 | 1 | 8 | 31 | 37 |
| Net profit | 27 | 30 | 24 | 11 | (0) | 5 | 23 | 29 |
| EPS (₹) | 10.71 | 11.74 | 9.38 | 4.23 | (0.28) | 1.77 | 8.68 | 10.86 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KPR MILL LTD. | 37,974 | 41.6 | 6.66 | 27.5 | 15.2 | 19.3 | 13.5 | 21.2 |
| WELSPUN LIVING LIMITED | 19,663 | 71.5 | 3.95 | 25.3 | 4.3 | 4.0 | 5.1 | 12.7 |
| VARDHMAN TEXTILES LIMITED | 16,368 | 19.0 | 1.55 | 12.4 | 7.1 | 7.4 | 10.0 | 20.4 |
| TRIDENT LIMITED | 11,965 | 30.1 | 2.51 | 14.5 | 7.9 | 8.6 | 8.1 | 17.7 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 27 Aug 2026 · 37th AGM notice published; book closure, e-voting and special window for physical share transfers | compliance | minimal | — | — |
| 26 Aug 2026 · Record date set for FY26 dividend; AGM on September 17, 2026 | corporate actions | high | — | — |
| 26 Aug 2026 · Cut-off date set for e-voting at 37th AGM on September 17, 2026 | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Annual Report FY26 filed - Revenue up, PAT and EBITDA margins under pressure | results | high | — | — |
| 26 Aug 2026 · 37th AGM Notice and FY26 Annual Report Filed | board shareholder meetings | low | — | — |
| 26 Aug 2026 · Web-link letter to shareholders for 37th AGM and Annual Report 2025-26 | compliance | minimal | — | — |
| 25 Aug 2026 · Newspaper publication of 37th AGM notice and e-voting info | compliance | minimal | — | — |
| 14 Aug 2026 · Fire at subsidiary Warangal plant; two workmen dead | capex operations | high | — | — |
| 13 Aug 2026 · Fire incident at subsidiary's Polyester Staple Fiber Plant in Warangal | capex operations | high | — | — |
| 13 Aug 2026 · Fire at subsidiary's PSF plant in Warangal, operations partially hit | capex operations | high | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| INDO COUNT INDUSTRIES LTD |
| 8,757 |
| 58.0 |
| 3.72 |
| 21.1 |
| 5.4 |
| 5.4 |
| 10.5 |
| 13.3 |
| GARWARE TECH FIBRES LTD | 7,675 | 37.1 | 5.67 | 24.0 | 14.7 | 18.7 | 8.1 | 20.5 |
| JINDAL WORLDWIDE LTD | 5,314 | 63.1 | 6.17 | 40.6 | 8.1 | 9.0 | 6.1 | 8.7 |
| RAYMOND LIFESTYLE LIMITED | 4,213 | 97.2 | 0.44 | 7.7 | 0.5 | 0.7 | — | 8.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 48.2 | 14.8 | 174 of 205 | 15% |
| P/B | 2.1 | 1.3 | 130 of 183 | 29% |
| ROCE | 3.2 | 4.2 | 126 of 227 | 45% |
| ROE | 3.0 | 4.8 | 127 of 214 | 41% |
| Debt / Equity | 0.4 | 0.3 | 120 of 214 | 44% |
| EBITDA margin | 15.0 | 9.8 | 58 of 198 | 71% |
| Revenue growth | 25.7 | 6.9 | 48 of 192 | 75% |
| Profit growth | 170.0 | 20.0 | 34 of 203 | 84% |
| Market cap | 2717 | 63 | 15 of 221 | 94% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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