Filatex India Limited (FILATEX) Financial Results — Revenue ₹985.5 Cr

Revenue: ₹985.5 CrNet Profit: ₹40.25

📢 Key Event
Filatex India reported Q4 FY26 revenue of ₹985.5 crores and FY26 revenue of ₹4,160 crores, with EBITDA growth of 13.86% YoY in Q4 and 34.5% YoY in FY26, and PAT up 36.7% YoY, while discussing capacity expansion, import reduction, and hedging strategies.

🔄 What Changed
13.86% YoY EBITDA growth in Q4 FY26 and 34.5% YoY EBITDA growth in FY26

🔮 What's Next
INR 690 crores CAPEX underway for capacity expansion, automation, green energy, and recycling, targeting annual EBITDA impact of ₹218-230 crores; plans to increase hedging to mitigate rupee depreciation risks; expects cyclical slowdown with recovery tied to geopolitical stabilization; targets INR 4,500 crores revenue in FY27 and INR 4,800 crores in FY28

💡 Investor Takeaway
The company is investing in capacity expansion and recycling to reduce import dependency and improve margins, with EBITDA growth and PAT up significantly despite revenue declines, signaling long-term value creation through strategic CAPEX and operational shifts.

Filatex India reported Q4 FY26 revenue of ₹985.5 crores (down from ₹1,080 crores YoY) and FY26 revenue of ₹4,160 crores (down from ₹4,252 crores), but EBITDA surged 13.86% YoY in Q4 and 34.5% YoY in FY26, with PAT up 36.7% YoY. Management attributed volatility to crude oil swings, geopolitical disruptions, and import dependency, particularly for MEG and PTA. Upcoming PTA capacity additions from GAIL Mangalore (July 2026), Indian Oil Paradip (Dec 2026), and Reliance (2027) totaling 2.4 MTPA aim to reduce imports. CAPEX of ₹690 crores is underway for expansion, automation, green energy, and recycling, targeting annual EBITDA impact of ₹218-230 crores. Management expects a cyclical slowdown, not structural, with recovery tied to geopolitical stabilization. Foreign exchange volatility persists, with hedging costs at 3.5-4% per dollar and exposure of INR 500-550 crores, prompting plans to increase hedging to counter rupee depreciation risks.

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