PAKKA
PAKKA financials
- Market cap
- ₹374 Cr
- Sector
- Forest Materials
- Calls analysed
- 3
PAKKA LIMITED Q1 FY27
What went well
- Highest-ever quarterly revenue reported, indicating strong performance.
- Revenue increased by 42% compared to Q1 FY26 and by 14% compared to the preceding quarter.
- EBITDA increased by 31% year-on-year and 36% quarter-on-quarter.
What to watch
- Wrap & Carry PBT was 16% lower sequentially, primarily due to costs paid to bankers during the quarter.
- The Food Services division recorded a PBT loss of ₹1.62 crore in Q1 FY27.
What PAKKA LIMITED does
Pakka Limited runs an integrated bagasse-based pulp and packaging-paper manufacturing facility in Ayodhya, Uttar Pradesh, alongside compostable moulded-fibre tableware production marketed under its CHUK brand. The business operates as two segments — Wrap & Carry (pulp and packaging paper) and Food Services (compostable tableware and food-delivery packaging) — supplying domestic FMCG/food-service customers and exporting to multiple countries. The company is expanding capacity in Ayodhya through a new paper machine (PM4) plus associated power and chemical-recovery infrastructure (Project Jagriti), while a subsidiary project (Project Kawok) had targeted a separate pulp-and-packaging-paper facility in Guatemala.
Segments
- Wrap & Carry
- Food Services
- Packaging paper capacity
- 39,100 TPA across three paper machines
- Pulp mill capacity
- 130 TPD
- Compostable tableware capacity
- 14.5 TPD across 140 production lines
- Employees
- 511 (as of 31 Mar 2025)
- Manufacturing site
- Integrated pulp, paper, power and tableware facility in Ayodhya, Uttar Pradesh
- Biomass-based power plants
- 2 plants, 2.5 MW combined
Guidance record · Q1 FY27
what the last two calls moved 13 tracked 1 delivered 1 missed 11 open- Jagriti Equity Gap Funding delivered said Q3 FY26 Promised: Fund 60 CR gap by February/March 2026 Q1 FY27: Management confirmed that 'Project Jagriti funding has been completed,' implying the ₹60 crore equity gap targeted for closure by March 2026 has been filled.
- Guatemala First Stage Live missed said Q1 FY26 Promised: June 2026 Q1 FY27: The original target date of June 2026 has passed with the project still on hold, as confirmed in the Q1 FY27 call. The promise is officially missed.
- Total Material Production at risk said Q1 FY26 Promised: 500,000 tons per year by 2030 Q1 FY27: Guatemala project remains on hold to focus on Project Jagriti. PM4 adds only ~30k tons capacity, making the 2030 goal highly dependent on the paused international expansion and thus still at risk.
All 13 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 43.0%, net profit up 485.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 111 | 106 | 92 | 82 | 76 −31% | 97 −9% | 101 +10% | 117 +43% |
| EBITDA | 20 | 15 | 6 | 6 | 2 −92% | 14 −8% | 9 +58% | 15 +158% |
| Net profit | 17 | 9 | 3 | -2 | -2 −112% | 7 −20% | 3 −4% | 6 +485% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −51.4% 1Y
1Y: ₹157.61 on 10 Sept 2025 → ₹76.57. High ₹170.42 (17 Sept 2025), low ₹69.97 (28 Jul 2026).
How the price took the results
close before → close after
- Q1 FY27
- +7.0%
- 18 Aug
- Q3 FY26
- −5.3%
- 2 Feb
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 4.4% a year over 3 years, FY23 to FY26. Operating margin narrowed to 8.6%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹408 Cr | ₹405 Cr | ₹406 Cr | ₹356 Cr |
| Operating profit | ₹79 Cr | ₹82 Cr | ₹60 Cr | ₹31 Cr |
| Operating margin | 19.4% | 20.2% | 14.7% | 8.6% |
| Interest | ₹11 Cr | ₹9 Cr | ₹10 Cr | ₹12 Cr |
| Depreciation | ₹13 Cr | ₹14 Cr | ₹16 Cr | ₹17 Cr |
| Net profit | ₹46 Cr | ₹43 Cr | ₹38 Cr | ₹7 Cr |
| Net margin | 11.3% | 10.7% | 9.2% | 1.8% |
| Cash from operations | ₹51 Cr | ₹47 Cr | ₹11 Cr | — |
| Free cash flow | ₹13 Cr | ₹-12 Cr | ₹-179 Cr | — |
| ROCE | 27.0% | 20.0% | 11.0% | — |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|
| Equity capital | ₹35 Cr | ₹38 Cr | ₹39 Cr | ₹45 Cr |
| Reserves | ₹130 Cr | ₹168 Cr | ₹267 Cr | ₹405 Cr |
| Borrowings | ₹104 Cr | ₹104 Cr | ₹162 Cr | ₹299 Cr |
| Other liabilities | ₹55 Cr | ₹63 Cr | ₹79 Cr | ₹78 Cr |
| Total liabilities | ₹324 Cr | ₹373 Cr | ₹548 Cr | ₹827 Cr |
| Fixed assets | ₹177 Cr | ₹199 Cr | ₹219 Cr | ₹216 Cr |
| Capital work in progress | ₹18 Cr | ₹22 Cr | ₹55 Cr | ₹287 Cr |
| Investments | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹130 Cr | ₹151 Cr | ₹275 Cr | ₹323 Cr |
| Total assets | ₹324 Cr | ₹373 Cr | ₹548 Cr | ₹827 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, DIIs added +3.45 pp while promoters trimmed −2.38 pp. The shareholder count shrank 6% to 37,643.
- Promoters
- 39.3%
- FIIs
- 0.1%
- DIIs
- 12.0%
- Public
- 48.6%
Since Jun 2025
- DIIs +3.45 pp
- Promoters −2.38 pp
- Public −0.93 pp
How it drifted, 12 quarters
Over this window DIIs went from 0.0% to 12.0% — +12.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 47.8%, FIIs 0.5%, Public 51.7%.Dec '23: Promoters 47.8%, FIIs 0.1%, DIIs 0.1%, Public 52.1%.Mar '24: Promoters 47.8%, FIIs 0.1%, Public 52.1%.Jun '24: Promoters 47.5%, FIIs 0.3%, Public 52.2%.Sep '24: Promoters 47.5%, FIIs 0.4%, DIIs 0.4%, Public 51.8%.Dec '24: Promoters 41.6%, FIIs 0.6%, DIIs 8.2%, Public 49.5%.Mar '25: Promoters 41.6%, FIIs 0.5%, DIIs 8.6%, Public 49.3%.Jun '25: Promoters 41.6%, FIIs 0.2%, DIIs 8.6%, Public 49.6%.Sep '25: Promoters 41.6%, FIIs 0.2%, DIIs 8.0%, Public 50.1%.Dec '25: Promoters 41.6%, FIIs 0.1%, DIIs 8.0%, Public 50.2%.Mar '26: Promoters 41.6%, FIIs 0.2%, DIIs 8.0%, Public 50.2%.Jun '26: Promoters 39.3%, FIIs 0.1%, DIIs 12.0%, Public 48.6%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- SBI Children'S Fund-Investment Plan Mutual fund newly disclosed 6.32% held
- Neo Special Credit Opportunities Fund Ii AIF newly disclosed 2.86% held
- Neo Special Credit Opportunities Fund AIF newly disclosed 2.28% held
The same filing shows 6 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of PAKKA LIMITED above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Ved Krishna | 29.04% | −1.76 pp |
| Satori Global Limited | 7.00% | −0.42 pp |
| SBI Children'S Fund-Investment Plan Mutual fund | 6.32% | newly disclosed |
| Neo Special Credit Opportunities Fund Ii AIF | 2.86% | newly disclosed |
| Neo Special Credit Opportunities Fund AIF | 2.28% | newly disclosed |
| Yash Agro Products Limited | 2.03% | −0.13 pp |
| Sangeetha S . | 1.88% | −0.12 pp |
| Manjula Jhunjhunwala | 1.17% | −0.07 pp |
| Vandana Sehgal | 1.15% | −0.07 pp |
| Krishna Kumar Jhunjhunwala | 0.03% | unchanged |
| Kimberly Ann Mcarthur | 0.00% | unchanged |
| SBI Magnum Children'S Benefit Fund-Investment Fund | — | off the list |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in PAKKA
Filings to Aug 2026
0 new, 0 added, 1 trimmed, 0 sold out — net −3.45 L shares (−11.6%).
- Held by funds
- ₹20 Cr
- 1 schemes
- Biggest holder
- SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP)
- ₹20 Cr · 0.3% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP) SBI Mutual Fund | ₹20 Cr | −3.45 L | Oct '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
0 added, 1 trimmed — net −3.45 L shares (−11.6%)
- Held by funds
- ₹20 Cr
- 1 schemes
Shares held by these funds −11%
Oct '24 29.77 L shares Jul '26
All earnings calls (3)
Read the Q1 FY27 call →Learn to analyse PAKKA LIMITED
Guides on how to read this kind of business and the numbers that matter.