PYRAMID

Pyramid Technoplast financials

Market cap
₹602 Cr
Sector
Capital Goods
Calls analysed
6
Latest concall · Q1 FY27 · call held 12 Aug 2026

Pyramid Technoplast Limited Q1 FY27

Revenue ₹222 cr +36%EBITDA — +50%EBITDA Margin 10% PAT ₹10.5 cr +32%

What went well

  • Revenue grew 36% year-on-year to ₹222 crores, driven by price increases.
  • EBITDA grew 50% year-on-year with margins at 10%, reflecting operating leverage.
  • PAT grew 32% year-on-year to ₹10.5 crores despite higher financial costs and depreciation.

What to watch

  • Volumes stood at 1,292 metric tons, with capacity utilization at 62%, impacted by a slowdown in exports due to war and high freight costs.
  • Gross margin compressed to 23% as raw material costs rose in step with price increases.
Read the full call →

Guidance record · Q1 FY27

what the last two calls moved 19 tracked 3 delivered 3 missed 13 open
  • Solar Plant Operations delivered, diluted said Q4 FY25 Promised: Commissioning scheduled in phases starting July 2025 Q1 FY27: Full 14.25 MW plant now commissioned, completing the project a year after the original target.
  • Recycling Plant License went quiet said Q4 FY26 Promised: We are currently awaiting the final license approval from the Pollution Control Board government agency, which is expected by June, July 2026. Q1 FY27: No confirmation of license receipt by the June/July 2026 deadline. Management only mentioned delays due to EPR portal closure.
  • Annual Power Cost Savings revised up said Q4 FY25 Promised: Reduce annual power costs by around 10% Q1 FY27: FY27 annual savings target revised back up to ₹15 Cr from ₹10 Cr. Q1 savings were ₹2 Cr.

All 19 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 35.4%, net profit up 25.0% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue133 153 171 164 161 +21%161 +5%195 +14%222 +35%
EBITDA9 11 11 13 12 +33%11 +0%20 +82%20 +54%
Net profit6 7 7 8 6 +0%5 −29%10 +43%10 +25%
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 −9.7% 1Y

₹140₹160₹180₹200Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 11 Nov 2025Q3 FY26 — 10 Feb 2026Q4 FY26 — 13 May 2026Q1 FY27 — 12 Aug 2026

1Y: ₹174.76 on 10 Sept 2025 → ₹157.74. High ₹195.96 (27 Jul 2026), low ₹134.46 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−4.9%
12 Aug
Q4 FY26
−1.2%
13 May
Q3 FY26
−4.7%
10 Feb
Q2 FY26
−1.5%
11 Nov

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 grew 12.4% a year over 3 years, FY23 to FY26. Operating margin narrowed to 8.2%.

Year endingFY23FY24FY25FY26
Revenue₹480 Cr₹533 Cr₹591 Cr₹681 Cr
Operating profit₹49 Cr₹44 Cr₹42 Cr₹56 Cr
Operating margin10.3%8.3%7.1%8.2%
Interest₹4 Cr₹2 Cr₹4 Cr₹7 Cr
Depreciation₹5 Cr₹6 Cr₹8 Cr₹12 Cr
Net profit₹32 Cr₹29 Cr₹28 Cr₹29 Cr
Net margin6.6%5.4%4.7%4.3%
Cash from operations₹39 Cr₹-4 Cr₹35 Cr₹-41 Cr
Free cash flow₹17 Cr₹-47 Cr₹-34 Cr₹-118 Cr
ROCE31.0%21.0%14.0%12.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹4 Cr₹4 Cr₹31 Cr₹37 Cr₹37 Cr₹37 Cr
Reserves₹45 Cr₹71 Cr₹76 Cr₹185 Cr₹225 Cr₹240 Cr
Borrowings₹52 Cr₹66 Cr₹56 Cr₹20 Cr₹140 Cr₹184 Cr
Other liabilities₹52 Cr₹43 Cr₹63 Cr₹61 Cr₹86 Cr₹67 Cr
Total liabilities₹153 Cr₹184 Cr₹226 Cr₹303 Cr₹488 Cr₹527 Cr
Fixed assets₹52 Cr₹50 Cr₹65 Cr₹96 Cr₹171 Cr₹234 Cr
Capital work in progress₹0 Cr₹2 Cr₹7 Cr₹14 Cr₹60 Cr₹3 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹9 Cr₹0 Cr₹0 Cr
Other assets₹101 Cr₹131 Cr₹154 Cr₹184 Cr₹256 Cr₹289 Cr
Total assets₹153 Cr₹184 Cr₹226 Cr₹303 Cr₹488 Cr₹527 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, the public trimmed −0.21 pp while DIIs added +0.19 pp. The shareholder count shrank 16% to 25,684.

Promoters
74.9%
FIIs
1.0%
DIIs
3.1%
Public
20.9%

Since Jun 2025

  • Public −0.21 pp
  • DIIs +0.19 pp
  • FIIs +0.01 pp

How it drifted, 12 quarters

Over this window the public went from 19.1% to 20.9% — +1.9 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 74.9%, FIIs 2.4%, DIIs 3.6%, Public 19.1%.Dec '23: Promoters 74.9%, FIIs 1.4%, DIIs 3.2%, Public 20.5%.Mar '24: Promoters 74.9%, FIIs 0.9%, DIIs 2.8%, Public 21.4%.Jun '24: Promoters 74.9%, FIIs 0.5%, DIIs 2.8%, Public 21.8%.Sep '24: Promoters 74.9%, FIIs 0.6%, DIIs 2.8%, Public 21.7%.Dec '24: Promoters 74.9%, FIIs 0.9%, DIIs 2.8%, Public 21.3%.Mar '25: Promoters 74.9%, FIIs 1.0%, DIIs 2.8%, Public 21.3%.Jun '25: Promoters 74.9%, FIIs 1.0%, DIIs 3.0%, Public 21.2%.Sep '25: Promoters 74.9%, FIIs 1.0%, DIIs 3.2%, Public 20.9%.Dec '25: Promoters 74.9%, FIIs 1.0%, DIIs 3.3%, Public 20.8%.Mar '26: Promoters 74.9%, FIIs 1.0%, DIIs 3.3%, Public 20.8%.Jun '26: Promoters 74.9%, FIIs 1.0%, DIIs 3.1%, Public 20.9%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Pyramid Technoplast Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Yash Synthetics Llp 27.57%unchanged
Pushpa Devi Bijaykumar Agarwal 11.51%unchanged
Credence Financial Consultancy Llp 9.50%unchanged
Madhu Agarwal 8.91%unchanged
Jaiprakash Bijaykumar Agarwal 7.05%unchanged
Bijay Kumar Agarwal 6.91%unchanged
Anmol Monower Plastic Private Limited 3.48%unchanged
Carnelian Structural Shift Fund AIF2.68%unchanged
Meghdoot Thakkar 1.21%unchanged
Nutan Chowdhary 0.00%unchanged
Atmaram Saraogi 0.00%unchanged

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.

What the price assumes

Expensive

To justify its price of ₹158, this stock must grow earnings at 12% every year for 7 years. Our analysis caps realistic growth at ~-3%. At that growth it is worth ₹70 — downside of 55%.

Growth the price implies
12.1% a year
for 7 years, fading to 4%
It has actually compounded at
-2.7% a year
net profit, FY23–FY26
The gap
0.1 pp
-55% downside if it only repeats history
Price today ₹157.74 Value at the reference growth ₹70.44

Change the assumptions yourself →

All earnings calls (6)

Read the Q1 FY27 call →

Learn to analyse Pyramid Technoplast Limited

Guides on how to read this kind of business and the numbers that matter.