Kanpur Plastipack LimitedQuarter Ended 30.09.2026 Results & Financial Update
Kanpur Plastipack Limited: Quarter Ended 30.09.2026 consolidated results and company financials – revenue ₹223.23 Cr, PAT ₹16.06 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Kanpur Plastipack Quarter Ended 30.09.2026 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
Kanpur Plastipack reported robust year-on-year growth for the second quarter of fiscal 2027, underpinned by healthy volume expansion, improving operating efficiencies, and sustained demand across diversified international markets.
Total consolidated income for Q2 FY27 reached INR 240.22 crore (INR 2,402.2 mn), representing a 44.2% increase compared to INR 166.56 crore (INR 1,665.6 mn) in the corresponding quarter of the previous year.
Consolidated net profit from continuing operations more than doubled, surging 102.1% year-on-year to INR 16.06 crore (INR 160.6 mn) compared to INR 7.94 crore (INR 79.4 mn) in Q2 FY26, reflecting enhanced profitability and margin expansion.
EBITDA for the quarter expanded by 58.5% year-on-year to INR 26.62 crore (INR 266.2 mn), with the EBITDA margin improving by 100 basis points to 11.1% from 10.1% in Q2 FY26, driven by favourable product mix shifts and operating leverage.
Net profit margin from continuing operations strengthened by 191 basis points year-on-year to 6.7% from 4.8%, while basic earnings per share from continuing operations rose to INR 6.54 compared to INR 3.42 in the year-ago period.
On a sequential basis, total income grew from INR 208.93 crore (INR 2,089.3 mn) in Q1 FY27, while PAT advanced from INR 11.68 crore (INR 116.8 mn), demonstrating steady quarter-on-quarter momentum across the core packaging and emerging product segments.
The core FIBC division maintained steady performance with capacity utilisation hovering around ~85% during the first half of FY27, while newer growth initiatives such as the premium Taslan yarn joint venture commenced commercial production and sales.
01 · Business model
What does Kanpur Plastipack do?
Kanpur Plastipack Limited is an established Indian manufacturer of flexible industrial packaging solutions, specialising in custom-engineered Flexible Intermediate Bulk Containers (FIBCs), woven fabrics, multifilament yarn, and UV masterbatches.
The company operates an integrated manufacturing setup across four units in India, supported by an in-house rooftop solar capacity of 16,167 kWp which provides approximately 50% of its energy requirements.
Serving a diversified international customer base across more than 40 countries, the company derives about 70% of its revenue from exports, with Europe representing its largest geographical market at 65% of the mix, followed by North America at 17% and South America at 14%.
Beyond its core industrial packaging business, Kanpur Plastipack is expanding into higher-value performance materials through a 50% joint venture with Italy's Essegomma S.p.A for premium Taslan yarn and a new needle-punch non-woven technical textiles platform targeting automotive, infrastructure, and B2C applications.
02 · Historical context
What shaped the business before this quarter
Established in 1971, Kanpur Plastipack transitioned from a regional manufacturer of HDPE woven sacks into an integrated global exporter, accumulating over 50 years of manufacturing experience and 30 years of export relationships.
During the 2000-2015 period, the company scaled its FIBC manufacturing capabilities, integrated backwards into PP yarn and woven fabric production, adopted UV masterbatches, and introduced rooftop solar power generation.
Between 2015 and 2025, the company expanded its presence across Europe and the Americas, attained food-grade and hazardous-goods safety certifications (including BRCGS A+ and FSSC 22000), and established sustainability infrastructure.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Quarter Ended 30.09.2026 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹223.23 Cr | ₹161.96 Cr | ₹208.93 Cr |
| Total income | ₹240.22 Cr | ₹166.56 Cr | ₹208.93 Cr |
| Profit before tax | ₹20.91 Cr | ₹10.52 Cr | ₹16.00 Cr |
| Profit after tax | ₹16.06 Cr | ₹7.73 Cr | ₹11.68 Cr |
| EPS | ₹6.54 | ₹3.33 | ₹4.67 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
The food industry remained the largest end market, contributing 44% of Q2 FY27 revenue mix, followed by industrial packaging at 23%, construction at 12%, agriculture at 8%, automotive at 7%, and mining and building materials at 6%.
International markets continue to anchor top-line delivery, led by Europe (65%), North America (17%), and South America (14%), cushioned by established global customer relationships and approximately 80-85% repeat business.
Commercial production and sales commenced for premium Taslan yarn from the newly operationalised joint venture, adding an initial revenue stream to the specialty segment.
What drove margins
EBITDA margin improved by 100 basis points year-on-year to 11.1% in Q2 FY27 (from 10.1% in Q2 FY26), driven by higher operating leverage on increased manufacturing volumes and process optimisation.
The company's strategic shift toward custom-engineered, certified, and specialised packaging solutions along with premium technical textiles contributed to a net profit margin expansion of 191 basis points year-on-year to 6.7%.
Utilisation of 16,167 kWp of rooftop solar capacity, supplying approximately 50% of total energy requirements, supported structural cost containment in power expenses.
05 · Demand, customers & order book
Where demand is coming from
The company maintains high customer loyalty, with approximately 80% to 85% of business coming from repeat customers across its global industrial base.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
FIBC products represented 42.7% of Q2 FY27 revenue mix (INR 92.93 crore / INR 929.3 mn) and 30.4% of volume mix (3,475 MT), continuing to serve as the cash-generating backbone of the company.
Trading operations accounted for 35.8% of Q2 FY27 revenue mix (INR 77.91 crore / INR 779.1 mn) and 49.4% of volume mix (5,649 MT), while fabric sales contributed 11.5% of revenue (INR 25.05 crore / INR 250.5 mn) and 11.3% of volume (1,288 MT).
Multifilament yarn (MFY) generated INR 11.86 crore (INR 118.6 mn) in revenue (5.5% mix), UV masterbatches contributed INR 4.35 crore (INR 43.5 mn), small bags contributed INR 2.79 crore (INR 27.9 mn), geo-fabrics contributed INR 2.19 crore (INR 21.9 mn), and premium Taslan yarn recorded initial revenues of INR 0.34 crore (INR 3.4 mn).
Geography and market mix
Europe remained the company's largest geographical market, accounting for 65% of the Q2 FY27 geographical mix, supported by established customer proximity and distribution infrastructure.
North America contributed 17% and South America contributed 14% to the geographical mix, underlining the company's strong export orientation across the Western hemisphere.
Asia accounted for 2%, Australia for 1%, and Africa for 1% of the geographical mix during the quarter.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Existing FIBC manufacturing capacity stands at approximately 18,000 MTPA, operating at an average utilisation rate of ~85% during H1 FY27.
Installed capacity for premium PP Taslan yarn stands at 1,000 MTPA following the successful operationalisation of the joint venture with Essegomma.
Projects, capex and execution
Construction of the new building is expected to be completed by October 30, 2026, with machinery for both Phase 1 and Phase 2 already received to expand manufacturing infrastructure.
Building construction experienced delays due to excessive rainfall in Kanpur; work is progressing under a revised schedule with completion expected by November 15, 2026.
Civil works were impacted by heavy rainfall resulting in installation delays. The first machine received in August 2026 is scheduled for commissioning by November 15, 2026, while the second machine is expected to be commissioned by the end of March 2027.
The company is undertaking a phased 5-year capacity expansion plan to add 6,000 MTPA of additional FIBC capacity (at approximately 1,200 MT per year) to reach ~24,000 MTPA.
08 · Strategy & new businesses
How the company is trying to change its growth mix
The 50% joint venture (Essekan Pvt Ltd, India) with Italy's Essegomma S.p.A combines Indian manufacturing cost advantages with European Taslan technology, enabling the company to move into specialty high-value yarn.
Expansion into needle-punch technical textiles opens up adjacent industrial applications across automotive interiors (carpets, trunk liners, insulation), infrastructure (geotextiles), and consumer segments (artificial leather substrates, shoe insoles).
09 · Reported developments
What changed operationally
Net profit from continuing operations more than doubled (+102.1% YoY) alongside a 58.5% increase in EBITDA and 100 bps expansion in EBITDA margin.
10 · Pressure points & risks
What is not going smoothly
Exceptionally heavy rainfall in Kanpur caused temporary delays in construction and installation activities for the Modern Roll Management System and non-woven machinery.
11 · Management guidance & targets
What management is targeting from here
Management targets revenue from the Taslan yarn initiative to grow from INR 100 mn in FY27 to INR 1,000 mn in FY30, with an anticipated EBITDA margin of 20-25%.
12 · Beyond the numbers
What changed beyond the numbers
Reported update
Global Certifications and Quality Standards
KPL holds a BRCGS A+ high-level quality and safety certification (noted as the first global FIBC company to receive it), FSSC 22000 for food safety, UN-certified hazardous goods packaging capability, and ISO 9001, ISO 14001, and ISO 45001 accreditations.
13 · Previous-quarter changes
What changed since the previous quarter
Total income rose from INR 2,089.3 mn in Q1 FY27 to INR 2,402.2 mn in Q2 FY27, while net profit advanced from INR 116.8 mn to INR 160.6 mn over the same sequential period.
14 · Key Q&A
The quarter, answered directly
What does Kanpur Plastipack do?
Kanpur Plastipack Limited is an established Indian manufacturer of flexible industrial packaging solutions, specialising in custom-engineered Flexible Intermediate Bulk Containers (FIBCs), woven fabrics, multifilament yarn, and UV masterbatches.
What is the clearest takeaway from Quarter Ended 30.09.2026?
Kanpur Plastipack reported robust year-on-year growth for the second quarter of fiscal 2027, underpinned by healthy volume expansion, improving operating efficiencies, and sustained demand across diversified international markets.
What drove revenue or demand?
The food industry remained the largest end market, contributing 44% of Q2 FY27 revenue mix, followed by industrial packaging at 23%, construction at 12%, agriculture at 8%, automotive at 7%, and mining and building materials at 6%.
What mattered most for margins or profitability?
EBITDA margin improved by 100 basis points year-on-year to 11.1% in Q2 FY27 (from 10.1% in Q2 FY26), driven by higher operating leverage on increased manufacturing volumes and process optimisation.
What changed operationally beyond the headline numbers?
Existing FIBC manufacturing capacity stands at approximately 18,000 MTPA, operating at an average utilisation rate of ~85% during H1 FY27.
What is management guiding or targeting from here?
Management targets revenue from the Taslan yarn initiative to grow from INR 100 mn in FY27 to INR 1,000 mn in FY30, with an anticipated EBITDA margin of 20-25%.
15 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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16 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Completion of the FIBC Unit 3 building at Gajner Road scheduled for October 30, 2026.
- 02
Commissioning of the Modern Roll Management System by November 15, 2026.
- 03
Commissioning of the first needle-punch and ironing machine by November 15, 2026, and the second machine by March 31, 2027.
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