Plastiblends India LimitedQ1 FY27 Results & Financial Update
Plastiblends India Limited: Q1 FY27 standalone results and company financials – revenue ₹221.61 Cr, PAT ₹14.95 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 glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
Find an answer
Ask this result
Chart · Market context
Plastiblends India price & chart
Market price₹164.02
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Plastiblends India Q1 FY27 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
Plastiblends India Limited delivered a strong financial performance for the first quarter of fiscal 2027, underpinned by robust revenue expansion, effective cost optimization, and favorable raw material dynamics.
Revenue from operations grew by 11.01% year-on-year to Rs. 22,161 lakhs (INR 221.61 crore) compared to Rs. 19,963 lakhs in the corresponding quarter of the previous year, supported by sustained export demand and healthy domestic consumption.
Profitability witnessed substantial expansion across all key metrics. Profit before tax (PBT) grew significantly to Rs. 2,022.74 lakhs from Rs. 1,189.22 lakhs in Q1 FY26, while net profit (PAT) for the period rose to Rs. 1,495.06 lakhs compared to Rs. 892.34 lakhs a year ago.
Operating margins strengthened notably during the quarter. The EBITDA margin expanded by 297 basis points year-on-year to 10.98%, PBT margin improved by 317 basis points to 9.13%, and PAT margin increased by 228 basis points to 6.75%.
Management noted that the quarter continued to experience inventory gains driven by the continuous escalation of various raw material prices during Q1, which temporarily supported stronger margins. However, leadership cautioned that these inventory gains are expected to normalize in ensuing quarters as raw material prices begin to reduce.
The macroeconomic backdrop presented a dual environment, marked by resilient domestic Indian GDP growth, favorable monsoon predictions, and robust rural demand, offset by global headwinds, geopolitical tensions, and crude oil price fluctuations.
Overhead costs exhibited an upward trajectory during the period due to rising inflationary pressures, increases in power and wage expenses, a weakening rupee, higher logistics costs, and stretched delivery timelines.
01 · Business model
What does Plastiblends India do?
Plastiblends India Limited operates as India's premier masterbatch manufacturing company, producing a wide range of value-added masterbatches and engineering compounds used extensively across various plastic processing industries.
The company's product portfolio includes white, black, colour, additive, and filler masterbatches. These offerings find end-use applications in flexible packaging, consumer durables, healthcare, agriculture, irrigation, piping, textiles, telecom, and broader infrastructure sectors.
Plastiblends operates world-class manufacturing facilities strategically located at Daman (Union Territory), Roorkee (Uttarakhand), and Palsana (Surat, Gujarat), maintaining market leadership status in the domestic masterbatch segment since inception.
The business model relies on effective pricing strategies, continuous product mix optimization towards higher-margin offerings, and robust distribution channels spanning both domestic and overseas export markets.
02 · Historical context
What shaped the business before this quarter
Plastiblends has maintained its position as the largest player and brand leader in the Indian masterbatch segment since its inception.
The company established its manufacturing network across three key regional hubs located in Daman (UT), Roorkee (Uttarakhand), and Palsana (Gujarat).
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹221.61 Cr |
| Total income | ₹223.98 Cr |
| Profit before tax | ₹20.23 Cr |
| Profit after tax | ₹14.95 Cr |
| EPS | ₹5.75 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 6.7% 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 9.1% 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 ₹2.37 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
The export market continued to demonstrate strong performance, driven by successful customer wins across overseas geographies.
Higher turnover and improved sales mix of colour, additive masterbatches, and engineering compounds contributed to sustained top-line growth.
What drove margins
Continuous price escalation in various raw materials during Q1 generated inventory gains that positively impacted operating margins.
Effective pricing strategies and internal cost optimization initiatives helped preserve profitability against a challenging cost backdrop.
05 · Demand, customers & order book
Where demand is coming from
Products served a broad client base across flexible packaging (FMCG, food packaging), consumer durables, healthcare, agriculture, irrigation, piping, textiles, and telecom.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates entirely within a single primary reporting segment, namely Masterbatches.
Geography and market mix
Domestic operations benefited from strong rural consumption and government-backed infrastructure initiatives, while overseas export markets remained robust through new customer additions.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Production operations remained anchored across world-class manufacturing plants located in Daman, Roorkee, and Palsana.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Management highlighted ongoing alignment with national programs such as Make in India, Atmanirbhar Bharat, Vocal for Local, Smart City Plan, and Har Ghar Jal (Jal Jeevan Mission) to drive long-term demand.
09 · Reported developments
What changed operationally
Net profit for Q1 FY27 grew by 67.54% year-on-year to Rs. 1,495 lakhs from Rs. 892 lakhs in Q1 FY26.
EBITDA margin expanded by 297 basis points year-on-year to 10.98%, driven by pricing execution and raw material inventory gains.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Working capital was managed effectively during the quarter through prudent financial discipline.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Executive Commentary on Macro Environment
Chairman and Managing Director Shri S. N. Kabra noted that while the domestic economy showed resilience with GDP growth around 6.6% to 7% supported by favorable monsoon forecasts and rural consumption, the global economy faced headwinds from geopolitical tensions and crude oil fluctuations.
12 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations increased by 5.22% sequentially from Rs. 21,062 lakhs in Q4 FY26 to Rs. 22,161 lakhs in Q1 FY27, while PAT grew by 7.85% from Rs. 1,386 lakhs to Rs. 1,495 lakhs.
13 · Key Q&A
The quarter, answered directly
What does Plastiblends India do?
Plastiblends India Limited operates as India's premier masterbatch manufacturing company, producing a wide range of value-added masterbatches and engineering compounds used extensively across various plastic processing industries.
What is the clearest takeaway from Q1 FY27?
Plastiblends India Limited delivered a strong financial performance for the first quarter of fiscal 2027, underpinned by robust revenue expansion, effective cost optimization, and favorable raw material dynamics.
What drove revenue or demand?
The export market continued to demonstrate strong performance, driven by successful customer wins across overseas geographies.
What mattered most for margins or profitability?
Continuous price escalation in various raw materials during Q1 generated inventory gains that positively impacted operating margins.
What changed operationally beyond the headline numbers?
Production operations remained anchored across world-class manufacturing plants located in Daman, Roorkee, and Palsana.
What should the next disclosure help confirm?
Monitor upcoming quarterly results to observe the expected normalization of margins as raw material price increases moderate.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Margin Normalization Trend: Monitor upcoming quarterly results to observe the expected normalization of margins as raw material price increases moderate.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.