Flair Writing Q2 FY27: PAT ₹29.1 & Rev ₹319.2 Cr

Investor Takeaways

Revenue grew 10.6% YoY to ₹319.2 crores in Q1 FY27

EBITDA margin expanded to 16.7% with PAT at ₹29.1 crores

Steel Bottles segment grew 54.3% YoY, contributing to margin resilience

FY27 revenue growth target maintained at 15% with EBITDA margin target of 17.5-18%

Gross margin held at 50% despite raw material pressures

Overall Tone: Neutral

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹319.2 Cr	10.6%
Net Profit	₹29.1 Cr	N/A
EBITDA	₹53.3 Cr	N/A
EBITDA Margin	16.7%	Improved from prior quarters
EPS	₹2.79 (Q3FY25)	N/A

What Changed

Flair Writing Industries reported Q1 FY27 revenue of ₹319.2 crores, reflecting a 10.6% year-on-year increase. EBITDA stood at ₹53.3 crores with a margin of 16.7%, up from 17.12% in Q3FY25 and 18.74% in Q2FY25, indicating margin expansion despite macro pressures. Net profit was ₹29.1 crores, supported by strong performance in high-growth segments. The Steel Bottles segment demonstrated 54.3% YoY growth, while Creative segment growth accelerated to 23%. Management reaffirmed FY27 revenue growth guidance of 15% and targeted EBITDA margin of 17.5-18%, citing ongoing capacity expansion and operational efficiency. Gross margin remained stable at 50%, reflecting effective cost management. The company’s current P/E ratio of 27.97 is below that of peers like Hindustan Unilever (36.79) and Nestle India (84.59), suggesting relative valuation comfort.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Flair Writing Industries Limited	27.97	Not available	Not available	3,520.21
Hindustan Unilever Limited	36.79	29.38%	27.39%	5,33,874.13
ITC Limited	11.06	50.02%	38.91%	3,87,724.39
Nestle India Limited	84.59	81.33%	93.64%	2,75,845.36

Flair’s P/E ratio is lower than Hindustan Unilever and Nestle India but higher than ITC, reflecting moderate valuation relative to peers with stronger profitability metrics.

Risks & Concerns

No specific risks identified in the filing; gross margin stability noted despite raw material pressures

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	264.55	29.27	17.12
Q2FY25	270.13	32.77	18.74
Q1FY25	247.14	26.21	17.01
Q4FY24	250.11	34.19	20.2

Revenue growth has shown sequential improvement, with Q1 FY27 revenue of ₹319.2 crores up from ₹264.55 crores in Q3FY25. Net profit declined slightly in Q1 FY25 compared to Q4FY24 but remained stable in the latest quarter. OPM declined from 20.2% in Q4FY24 to 16.7% in Q1 FY27, though still within historical ranges. The trend indicates consistent top-line growth with margin pressure in the latest quarter, likely due to volume-driven expansion and investment in capacity.

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About Flair Writing Industries Limited (FLAIR)

Capital Goods · Printing & Stationery · Listed on NSE

Market Cap: ₹2,599.05 Cr P/E: 18.6 ROE: 12.4% ROCE: 16.3% Div Yield: 0.20%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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