Kanpur Plastipack Limited (KANPRPLA)

Capital Goods · Industrial Products · NSE · Updated 15 July 2026

₹196.11 ↓ 9.47% (1Y)

🎯 Key Takeaways

Kanpur Plastipack Limited is transitioning from a period of volatility to structured growth, marked by strategic expansion into high-value technical textiles and capacity upgrades. Management is actively repositioning the business around value-added products and export demand, particularly in Europe, signaling a shift from commodity-driven margins to sustainable profitability.
Revenue grew 6.1% QoQ to ₹161 in Q3FY25.
⚠️ Raw material price volatility, particularly in polypropylene, could pressure margins despite stable guidance.

Market Cap

₹480

P/E Ratio

37.9

Div Yield

0.00%

Promoter

0.0%

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📖 The Story

Kanpur Plastipack Limited is transitioning from a period of volatility to structured growth, marked by strategic expansion into high-value technical textiles and capacity upgrades. Management is actively repositioning the business around value-added products and export demand, particularly in Europe, signaling a shift from commodity-driven margins to sustainable profitability. The company is in a reinvestment phase with clear signs of operational and financial stabilization.

📰 What's Happening

In FY26, the company reported revenue of ₹726.67 crores, up from ₹525.86 crores YoY, driven by strong export demand and capacity additions. Net profit reached ₹38.19 crores, reflecting improved margins despite EBITDA margin pressure. Key developments include the commissioning of 6,000 MT FIBC capacity and the start of non-woven technical textiles production in September 2026. Management highlighted progress on a 50:50 joint venture with Italy's Taslan for premium PP yarn and expansion into technical textiles, supported by a ₹108 crore capex plan. The 55th AGM is scheduled for 10 August 2026, with electronic voting via NSDL and record date set for 3 August 2026.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Q4FY23	Q1FY24	Q2FY24	Q3FY24	Q4FY24	Q1FY25	Q2FY25	Q3FY25
Revenue	110	100	120	124	153	132	152	161
Operating Profit	9	9	10	-1	14	7	12	18
OPM %	5.6%	6.8%	6.8%	-2.9%	5.4%	2.1%	6.3%	9.1%
Net Profit	7	2	2	-7	3	-1	2	8
EPS	₹3.38	₹0.96	₹1.04	₹-3.15	₹1.52	₹-0.64	₹0.77	₹3.63

Revenue has shown consistent growth over the past eight quarters, rising from ₹100 crores in Q1FY24 to ₹161 crores in Q3FY25, with profitability turning positive and expanding significantly — net profit surged from a loss of ₹1 crore in Q1FY25 to ₹8 crores in Q3FY25. Operating margins improved from -2.9% in Q3FY24 to 9.1% in Q3FY25, reflecting operational efficiency and scale benefits. Despite margin compression in FY26 (10.29% EBITDA margin), the trend in quarterly performance shows recovery and stabilization, aligning with management's guidance on margin improvement through product mix and efficiency gains.

🔮 Management Outlook & What's Next

Management expects FY27 revenue growth of 10-15%, supported by the ramp-up of non-woven technical textiles production and increased utilization of the new FIBC capacity. They emphasized that margins will remain stable, driven by a shift toward higher-value products and operational efficiencies. The company is focused on executing its capacity expansion plan, with non-woven facilities to be commissioned by September 2026 and full utilization targeted in FY27. No specific margin targets were provided, but stability is contingent on input cost management and sustained export demand.

Extracted from official company announcements. Not StockFin.ai's opinion.

⚖️ Peer Comparison — Industrial Products

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
Cummins India Limited	1.49 L Cr	74.4	—	—	—
Polycab India Limited	1.38 L Cr	74.8	—	—	—
APL Apollo Tubes Limited	52,483	43.6	29.3%	22.7%	0.09
KEI Industries Limited	48,924	72.7	—	—	—
Supreme Industries Limited	44,570	43.6	—	—	—
Astral Limited	41,662	79.2	—	—	—
AIA Engineering Limited	35,987	31.0	20.4%	16.8%	0.07
Welspun Corp Limited	34,530	23.2	—	—	—
Timken India Limited	26,561	61.0	—	—	—
Kirloskar Oil Engines Limited	25,295	49.8	—	—	—

🔗 Peer Stock Analyses

CUMMINSIND POLYCAB APLAPOLLO KEI SUPREMEIND

⚠️ Risk Factors

1. Raw material price volatility, particularly in polypropylene, could pressure margins despite stable guidance. 2. Revenue concentration in export markets, especially Europe, exposes the company to global demand and currency fluctuations. 3. Execution risk around commissioning and scaling of non-woven technical textiles capacity by September 2026. 4. Margin improvement depends on successful product mix shift, which requires sustained demand and pricing power in competitive segments.

📋 Recent Filings

🧠 Analyst's Read

Kanpur Plastipack is executing a clear strategic pivot toward higher-margin technical textiles and value-added packaging, supported by capacity expansion and export growth. Investors should monitor the timely commissioning of non-woven facilities and the pace of margin recovery in FY27, as these will determine the sustainability of the current growth trajectory.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-07-15.

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