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Plastiblends India Ltd

| Audited Financial Results for Q4 and Year Ended March 31, 2026

Report Source

⬤27th Apr 26

Summary : Plastiblends India reported strong FY26 standalone results with increased revenue, profit, and dividend, despite raw material cost pressures.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Cost of Material Consumed FY26: Rs. 58,527.34 Lakhs.
  2. Employee Benefit Expenses FY26: Rs. 4,378.99 Lakhs.
  3. Other Expenses FY26: Rs. 10,398.86 Lakhs.
  4. Revenue from Operations FY26: Rs. 78,865.80 Lakhs (1.05% Y-o-Y growth).
  5. Revenue from Operations Q4 FY26: Rs. 21,062.11 Lakhs (5.76% Y-o-Y growth).
  6. Net cash flow from operating activities FY26: Rs. 2,133.18 Lakhs (FY25: Rs. 886.09 Lakhs).
  7. Net cash flow from investing activities FY26: (Rs. 3,301.37) Lakhs (FY25: Rs. 625.41 Lakhs).
  8. Net cash flow from financing activities FY26: (Rs. 838.79) Lakhs (FY25: (Rs. 1,190.05) Lakhs).
  9. Net decrease in Cash and cash equivalents FY26: (Rs. 2,006.98) Lakhs.
  10. Total Assets FY26: Rs. 55,775.80 Lakhs (FY25: Rs. 50,688.32 Lakhs).
  11. Total Equity FY26: Rs. 44,904.90 Lakhs (FY25: Rs. 42,755.15 Lakhs).
  12. Current Liabilities FY26: Rs. 8,358.21 Lakhs (FY25: Rs. 5,077.55 Lakhs).
  13. Mr. Varun S. Kabra (CMD) is son of Mr. Satyanarayan G. Kabra (CMD).
  14. Mr. Varun S. Kabra is spouse of Mrs. Jyoti V. Kabra (Director).
  15. Audited Standalone Financial Results.
  16. Consolidated Financial Statements not applicable (no subsidiaries, associates, JVs).

Corporate Overview

  1. Manufacturing facilities in Daman (UT), Roorkee (Uttarakhand), Palsana (Surat - Gujarat)
  2. Significant impact of Iran-USA war on polymer and raw material prices.
  3. Geopolitical tensions and supply chain disruption.
  4. Ongoing price volatility, weakening INR, rise in logistics and insurance costs.
  5. Stretched delivery timelines.
  6. Polymer and raw material prices impacted by geopolitical tensions (Iran-USA war).
  7. Reliance on stable supply chains for raw materials.
  8. Manufacturing of Masterbatches for various plastic processing industries.
  9. Cautiously optimistic about India's plastics industry growth.
  10. Acknowledges elevated input costs and potential margin pressure.
  11. Emphasizes careful and responsible management during challenging times.
  12. Industries such as FMCG, Consumer Durable, Healthcare, Agriculture, Infrastructure.
  13. Flexible Packaging (FMCG, Package and Fast Food)
  14. Consumer Durable (Electronic Appliances, Furniture, Toys, Luggage, House ware)
  15. Health Care, Agriculture, Irrigation, Piping, Textiles, Telecom, Infrastructure
  16. Augmenting capacity, capitalized Rs. 18.14 Cr in FY25-26 for Engineering plastics plant expansion.
  17. Capitalized Rs. 18.14 Cr in FY25-26 for expansion of Engineering plastics plant.

Risk Factors

  1. Geopolitical tensions raise raw material prices.
  2. Currency volatility, higher logistics costs.
  3. Elevated input costs pressure profit margins.
  4. Supply chain disruptions, stretched delivery timelines.

Key Drivers

  1. Strong revenue and profit growth.
  2. Increased dividend payout to shareholders.
  3. Capacity expansion in engineering plastics.
  4. Diversified product portfolio, strong customer base.

Auditor’s Report

  1. Unmodified audit opinion on standalone financial results.
  2. Financial results present a true and fair view, compliant with Ind AS and LODR Regulations.

Board Commentary

  1. Re-appointment of Mr. Varun Satyanarayan Kabra as Director (liable to retire by rotation).
  2. Re-appointment of Mr. Varun Satyanarayan Kabra as Vice-Chairman & Managing Director for five years.
  3. Recommended dividend of Rs. 3/- per equity share (60%) for FY26.
  4. Subject to approval of shareholders at Annual General Meeting.
  5. Geopolitical tensions and supply chain disruption affecting raw material prices.
  6. Price volatility, weakening INR, increased logistics and insurance costs.
  7. Stretched delivery timelines.
  8. No debarment issues for re-appointed director by SEBI or other authority.
  9. Capitalized Rs. 18.14 Cr in FY25-26 for Engineering plastics plant expansion.

Corporate Governance

  1. Auditors comply with Code of Ethics and ethical requirements.
  2. Re-appointed director not debarred by SEBI or other authority.
  3. Audit Committee.
  4. Nomination and Remuneration Committee.

Management Discussion & Analysis

Future Strategy

  1. Implementing cost optimization measures.
  2. Diversifying supply chain strategies to mitigate risks.

Industry Overview

  1. Engineering Plastic segment shows significant growth and strong momentum.
  2. Overall plastics industry expected to remain strong.

Macroeconomic Outlook

  1. India's plastics industry is at the beginning of a long growth arc.
  2. Domestic consumption rising, driven by packaging, agriculture, healthcare, construction.
  3. China+1 trend creating sustained demand for products.
  4. Government policy (PLI schemes, infrastructure) supports domestic manufacturing.

Operational Focus Areas

  1. Cost optimization measures.
  2. Supply chain diversification strategies.

Performance Drivers

  1. Strong customer relationships.
  2. Diversified product portfolio.
  3. Ongoing cost optimisation strategies.

Risk Control Measures

  1. Active implementation of cost optimization measures.
  2. Supply chain diversification strategies.

Critical Risks

  1. Geopolitical tensions impacting polymer and raw material prices.
  2. Price volatility, weakening INR, rising logistics and insurance costs.
  3. Stretched delivery timelines.
  4. Elevated input costs leading to margin pressure.