GSM Foils LimitedQuarter ended 30 June 2026 Results & Financial Update
GSM Foils Limited: Quarter ended 30 June 2026 standalone results and company financials – revenue ₹96.89 Cr, PAT ₹7.62 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore GSM Foils Quarter ended 30 June 2026 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
GSM Foils reported robust revenue from operations of INR 96.89 crore for the quarter ended 30 June 2026, marking an increase compared to INR 52.00 crore in the corresponding quarter of the previous year and INR 81.69 crore in the preceding quarter.
Total income for Q1 FY27 stood at INR 97.04 crore, supported by other income of INR 0.15 crore, reflecting strong commercial activity across packaging segments.
Profit before tax (PBT) for the quarter rose to INR 10.20 crore compared to INR 5.41 crore in Q1 FY26 and INR 8.45 crore in Q4 FY26.
Profit after tax (PAT) reached INR 7.62 crore for the quarter, compared to INR 3.83 crore a year ago and INR 6.28 crore in the previous quarter.
Basic and diluted earnings per share (EPS) for Q1 FY27 stood at INR 5.41, compared to INR 2.99 in Q1 FY26 and INR 4.46 in Q4 FY26.
Finance costs for the quarter were INR 1.23 crore, reflecting borrowings to support working capital and business expansion, while depreciation and amortisation expenses were recorded at INR 0.23 crore.
01 · Business model
What does GSM Foils do?
GSM Foils Limited specializes in manufacturing blister foils, aluminium pharma foils, and aluminium ROPP caps primarily catering to the pharmaceutical industry.
The company operates manufacturing units in Vasai and Mumbai, Maharashtra, alongside an additional facility located in Ahmedabad, Gujarat, giving it an aggregate annual production capacity exceeding 17,000 metric tonnes.
The product portfolio includes coated, poly laminated, blister, and printed foils across specifications ranging from 20 to 40 microns, designed to offer protection against moisture, oxygen, and light for pharmaceutical packaging.
The company serves a diverse client base exceeding 110 pharmaceutical customers across more than 14 states in India.
02 · Historical context
What shaped the business before this quarter
The company was originally formed as GSM Foils LLP in 2019 to start the aluminium foil business in Vasai.
In 2023, the LLP was converted into a public limited company and shifted to new premises to facilitate business expansion.
The company completed its initial public offering and listed on the NSE Emerge platform during 2024.
During 2025, the company crossed INR 100 crore in annual turnover and operationalised a new manufacturing facility in Ahmedabad to expand its production capacity.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter ended 30 June 2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹96.89 Cr | ₹52.00 Cr | ₹81.69 Cr |
| Total income | ₹97.04 Cr | ₹52.06 Cr | ₹81.81 Cr |
| Profit before tax | ₹10.20 Cr | ₹5.41 Cr | ₹8.45 Cr |
| Profit after tax | ₹7.62 Cr | ₹3.83 Cr | ₹6.28 Cr |
| EPS | ₹5.41 | ₹2.99 | ₹4.46 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 7.9% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 10.5% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹0.15 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Growth was driven by sustained demand for blister foils and strip packaging from the domestic pharmaceutical sector and export markets.
Utilization of expanded manufacturing capacity across production units in Maharashtra and Gujarat contributed to higher volume dispatch.
What drove margins
Cost of materials consumed was INR 76.60 crore for the quarter, reflecting primary raw material inputs for aluminium foil production.
Changes in inventories of finished goods, work-in-progress, and stock-in-trade showed a positive variance of INR 6.16 crore during the quarter.
05 · Demand, customers & order book
Where demand is coming from
The company supplies packaging materials to a diverse portfolio of over 110 pharmaceutical clients.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company is engaged in a single business segment comprising aluminium foil and packaging products; hence, separate segment reporting under AS-17 is not applicable.
Geography and market mix
The company maintains a commercial presence across more than 14 states in India, serving pharmaceutical manufacturers primarily concentrated in western and northern regions.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Total installed production capacity stands at over 17,000 metric tonnes per annum across manufacturing facilities spanning approximately 31,500 square feet.
Projects, capex and execution
The Ahmedabad manufacturing plant, spanning approximately 17,000 square feet, supports operations targeting western and northern markets with a utilization target exceeding 80% by March 2027.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The company entered the aluminium ROPP Caps segment through a strategic MoU with AAPL Solutions Private Limited, establishing its third manufacturing facility with commercial production commencing in June 2026 and a peak revenue potential of approximately INR 50 crore.
09 · Reported developments
What changed operationally
The company achieved significant year-on-year and quarter-on-quarter growth in revenue, PBT, and PAT for Q1 FY27.
Commercial production at the new ROPP caps unit commenced in June 2026, creating a new revenue stream with higher margin potential.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Trade receivables are shown net of expected credit loss provisions, with management evaluating outstanding receivables without noting material impairment risks beyond recognized amounts.
Capital allocation & funding
Finance costs for the quarter were reported at INR 1.23 crore, associated with short-term borrowings and working capital utilization.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Auditor Review
The standalone unaudited financial results for the quarter ended 30 June 2026 were subjected to a limited review by statutory auditors M N C A & Associates.
12 · Previous-quarter changes
What changed since the previous quarter
Revenue increased from INR 81.69 crore in Q4 FY26 to INR 96.89 crore in Q1 FY27, while PAT grew from INR 6.28 crore to INR 7.62 crore.
13 · Key Q&A
The quarter, answered directly
What does GSM Foils do?
GSM Foils Limited specializes in manufacturing blister foils, aluminium pharma foils, and aluminium ROPP caps primarily catering to the pharmaceutical industry.
What is the clearest takeaway from Quarter ended 30 June 2026?
GSM Foils reported robust revenue from operations of INR 96.89 crore for the quarter ended 30 June 2026, marking an increase compared to INR 52.00 crore in the corresponding quarter of the previous year and INR 81.69 crore in the preceding quarter.
What drove revenue or demand?
Growth was driven by sustained demand for blister foils and strip packaging from the domestic pharmaceutical sector and export markets.
What mattered most for margins or profitability?
Cost of materials consumed was INR 76.60 crore for the quarter, reflecting primary raw material inputs for aluminium foil production.
What changed operationally beyond the headline numbers?
Total installed production capacity stands at over 17,000 metric tonnes per annum across manufacturing facilities spanning approximately 31,500 square feet.
What should the next disclosure help confirm?
Monitor the scaling of capacity utilisation at the Ahmedabad manufacturing facility towards the targeted 80%+ by March 2027.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Ahmedabad Unit Utilization: Monitor the scaling of capacity utilisation at the Ahmedabad manufacturing facility towards the targeted 80%+ by March 2027.
- 02
ROPP Caps Ramp-up: Track revenue contribution and commercial scaling from the newly operational aluminium ROPP caps unit following commencement in June 2026.
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