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Voith Paper Fabrics India Ltd (522122)

📊 BSE: 522122 🏢 Other Textile Products 📢 Latest filing: 26 Sep 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Voith Paper's revenue was ₹52.0 Cr (-1.5% year on year, -2.3% on the previous quarter), and net profit ₹13.0 Cr (+3.3% year on year); the operating margin was 30.8%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹52.0	-1.5%	-2.3%
Operating profit	₹16.0	+2.1%	+31.6%
Net profit	₹13.0	+3.3%	+42.1%
EPS (₹)	28.78	+0.5%	+38.2%
Operating margin	30.8%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Voith Paper Fabrics Faces Rs 3.82 Cr IT Demand for AY 2023-24

🔴 NEGATIVE ⭐ 5/10

REGULATORY 📅 26 Sep 2026, 06:49 PM

Voith Paper Fabrics India Limited received an assessment order with a tax demand notice of Rs 3.82 crore for Assessment Year 2023-24. The demand arises following transfer pricing adjustments adding Rs 10.87 crore to its taxable income across trading, marketing support, royalty, and intra-group services. The total demand represents approximately 30.2% of its Q1 FY27 net profit of Rs 12.64 crore. The company plans to explore available legal avenues and can appeal before the Income-tax Appellate Tribunal within 60 days.

Tax demand of Rs 3,82,08,430 issued under Section 156 for AY 2023-24
Addition of Rs 10,87,07,276 to taxable income via transfer pricing adjustments
Original taxable income declared was Rs 43,07,14,990
Separate penalty proceedings initiated under Section 270A of the Income Tax Act

💡 Track whether the company files an appeal before the ITAT within the 60-day window and whether any stay on the demand or financial provisioning is made in subsequent quarterly earnings.

Voith Paper Fabrics Updates Authorized KMPs for Reg 30 Materiality Determinations

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Aug 2026, 08:54 PM

Voith Paper Fabrics India Limited has updated its list of Key Managerial Personnel (KMPs) authorized to determine event materiality and make disclosures pursuant to Regulation 30 of SEBI LODR Regulations. At its Board meeting held on August 26, 2026, the company authorized Managing Director Asesh Kumar Mukherjee, Financial Controller Kalyan Dasgupta, and Company Secretary Deepak Behl for determining materiality. Company Secretary Deepak Behl remains authorized for submitting disclosures to the stock exchange. This is a routine administrative compliance update with no financial impact.

Board authorized 3 KMPs on August 26, 2026, for determining materiality under SEBI Regulation 30
Managing Director Asesh Kumar Mukherjee and Finance Controller Kalyan Dasgupta authorized alongside CS Deepak Behl
Company Secretary & Compliance Officer Deepak Behl authorized for making disclosures to the stock exchange
Contact details provided under landline 0129-4292200 and corporate email voithfabrics.faridabad@voith.com

💡 No action required. Investors should continue tracking upcoming quarterly financial disclosures and operational updates.

Voith Paper Fabrics Appoints Asesh Kumar Mukherjee as MD for 5-Year Term

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 26 Aug 2026, 08:46 PM

Voith Paper Fabrics India Limited has appointed Mr. Asesh Kumar Mukherjee as Additional Director and Managing Director (acting as CEO) for a 5-year tenure effective from August 26, 2026 to August 25, 2031. The appointment was approved by the Board based on Nomination and Remuneration Committee recommendations and is subject to shareholder approval via postal ballot. Mr. Mukherjee brings over 3.5 decades of operational leadership and P&L experience across paper, packaging, chemicals, and manufacturing industries. The company recently reported quarterly revenue of ₹52.15 crore and net profit of ₹12.64 crore for June 2026.

Appointed as Managing Director for a 5-year term from 26th August 2026 to 25th August 2031
Appointee brings over 3.5 decades of leadership experience across paper & paperboard and manufacturing industries
Appointment is subject to shareholder approval through a Postal Ballot process
Board meeting commenced at 6:35 p.m. and concluded at 7:00 p.m. on 26th August 2026

💡 Track the outcome of the shareholder postal ballot voting and monitor leadership commentary in subsequent quarterly results regarding operational strategy and growth initiatives.

Voith Paper Fabrics Appoints Asesh Kumar Mukherjee as Managing Director for a 5-Year Term

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 26 Aug 2026, 08:43 PM

Voith Paper Fabrics India Limited has approved the appointment of Mr. Asesh Kumar Mukherjee as Managing Director and CEO for a 5-year tenure effective from August 26, 2026 to August 25, 2031, subject to shareholder approval via postal ballot. Mr. Mukherjee brings over 3.5 decades of leadership experience across Paper & Paperboard, Packaging, Chemicals, and Steel industries. The company generated Q1 FY27 (Jun 2026) revenue of ₹52.15 crore and net profit of ₹12.64 crore. This leadership transition aims to steer the company's operational excellence and domestic market growth.

Appointed Mr. Asesh Kumar Mukherjee as Managing Director (CEO) for a 5-year term from August 26, 2026 to August 25, 2031.
Mr. Mukherjee possesses over 3.5 decades (35+ years) of executive leadership and P&L experience in manufacturing and the paperboard sector.
The appointment is subject to shareholder approval through a Postal Ballot process.
The Board meeting approving the appointment concluded at 7:00 p.m. on August 26, 2026.

💡 Track the outcome of the upcoming postal ballot voting for shareholder approval and look for commentary on long-term strategy in subsequent quarterly disclosures.

Voith Paper Fabrics Appoints Asesh Kumar Mukherjee as MD for 5-Year Term

🟡 NEUTRAL ⭐ 7/10

MANAGEMENT 📅 26 Aug 2026, 08:38 PM

Voith Paper Fabrics India Limited has appointed Mr. Asesh Kumar Mukherjee as Additional Director and Managing Director (CEO) for a 5-year term from August 26, 2026 to August 25, 2031. The appointment is subject to shareholder approval through a postal ballot. Mr. Mukherjee brings over 3.5 decades of operational and P&L experience across paper, packaging, chemicals, and steel industries.

Appointed as Managing Director for a 5-year tenure from 26th August 2026 to 25th August 2031
Over 3.5 decades of leadership experience in manufacturing, specifically Paper & Paperboard
Appointment subject to approval by shareholders through the Postal Ballot process
Board meeting concluded within 25 minutes (6:35 p.m. to 7:00 p.m. on August 26, 2026)

💡 Track the upcoming postal ballot voting results for formal shareholder approval and monitor commentary in the next earnings release regarding strategic priorities.

Voith Paper Fabrics MD Krishna Kumar Ceases Office After AGM Vote Rejection

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 20 Aug 2026, 06:15 PM

Voith Paper Fabrics India Limited announced that shareholders rejected the ordinary resolution for the re-appointment of Managing Director Mr. Krishna Kumar Rajamohannair (liable to retire by rotation) at the 56th AGM held on 19 August 2026. Consequently, Mr. Rajamohannair ceased to hold office as both Director and Managing Director with immediate effect from the conclusion of the AGM on 19 August 2026. This unexpected leadership exit creates a management transition period as the company will need to appoint an interim or new Managing Director.

Ordinary resolution for re-appointment of MD Mr. Krishna Kumar Rajamohannair was rejected by shareholders at the 56th AGM
Cessation as Director and Managing Director took effect on 19 August 2026
Voting outcome confirmed via Scrutiniser's report dated 20 August 2026

💡 Track subsequent board announcements regarding the appointment of a new Managing Director or interim leadership to assess management continuity.

Voith Paper Fabrics: Shareholders Reject MD Reappointment at 56th AGM; MD Steps Down

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 20 Aug 2026, 04:05 PM

Voith Paper Fabrics India Ltd has disclosed that the ordinary resolution for the re-appointment of Managing Director Mr. Krishna Kumar Rajamohannair was not approved by shareholders at its 56th Annual General Meeting held on August 19, 2026. Consequently, Mr. Rajamohannair ceased to hold office as Director and Managing Director effective August 19, 2026. This unexpected leadership exit occurs at a company with 74.04% promoter holding that delivered Q1 revenue of ₹52.15 cr and net profit of ₹12.64 cr (Jun 2026).

Shareholders did not approve the ordinary resolution for the reappointment of Managing Director Mr. Krishna Kumar Rajamohannair (DIN: 05344619) at the 56th AGM.
Mr. Rajamohannair ceased to hold office as Director and Managing Director effective from the conclusion of the AGM on August 19, 2026.
The outcome was confirmed following the Scrutiniser's report submitted on August 20, 2026.
Voith Paper Fabrics holds a zero-debt balance sheet with ₹423 cr net worth and 74.04% promoter holding.

💡 Monitor upcoming board announcements regarding interim executive management and the appointment of a new Managing Director to ensure business continuity.

Shareholders Reject Re-appointment of MD Krishna Kumar Rajamohannair at 56th AGM

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 20 Aug 2026, 12:13 PM

Voith Paper Fabrics India has announced that shareholders rejected the ordinary resolution for the re-appointment of Managing Director Mr. Krishna Kumar Rajamohannair at the 56th Annual General Meeting held on August 19, 2026. Consequently, Mr. Rajamohannair has ceased to hold office as Director and Managing Director effective August 19, 2026. The exit of the top executive creates an immediate leadership transition requirement for the company.

Shareholders voted down the re-appointment of Managing Director Mr. Krishna Kumar Rajamohannair as a director liable to retire by rotation.
Cessation of office as Director and Managing Director took effect on August 19, 2026.
Outcome confirmed via Scrutiniser's voting report received on August 20, 2026.

💡 Monitor upcoming board disclosures regarding interim management arrangements and the appointment process for a new Managing Director.

₹12.64 Cr PAT: Voith Paper Fabrics Reports Flat Q1 Earnings with 1.2% Revenue Dip

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 06 Aug 2026, 08:45 PM

Voith Paper Fabrics India Ltd reported a nearly flat bottom line for Q1 FY27, with Profit After Tax (PAT) at ₹12.64 crore compared to ₹12.58 crore in the previous year's corresponding quarter. Revenue from operations saw a marginal decline of 1.2% YoY to ₹52.15 crore. Despite the slight revenue contraction, Profit Before Tax (PBT) improved by 2.2% YoY to ₹17.19 crore, primarily driven by a 2.7% reduction in total expenses. The company maintains a strong balance sheet with zero debt and a net worth of ₹423 crore.

Revenue from operations decreased by 1.2% YoY to ₹52.15 crore from ₹52.78 crore.
Net Profit (PAT) remained stagnant at ₹12.64 crore compared to ₹12.58 crore in Q1 FY26.
Total expenses were reduced to ₹39.66 crore from ₹40.77 crore in the previous year.
Earnings Per Share (EPS) for the quarter stood at ₹28.78, marginally up from ₹28.66 YoY.
Other income contributed ₹4.71 crore, representing approximately 8.3% of total income.

💡 Investors should monitor the company's ability to sustain margins through its 'Operational Excellence' program as digitalization continues to pressure traditional paper demand.

Voith Paper Fabrics Q1 PAT Flat at 12.64 Cr; Revenue Declines 1.2% YoY

🟡 NEUTRAL ⭐ 5/10

EARNINGS 📅 06 Aug 2026, 08:37 PM

Voith Paper Fabrics India Ltd reported a stagnant performance for Q1 FY27, with net profit at 12.64 crore compared to 12.58 crore in the previous year's corresponding quarter. Revenue from operations saw a marginal decline of 1.2% YoY to 52.15 crore. Profitability was supported by a 2.7% reduction in total expenses, which fell to 39.66 crore. The company remains debt-free with a strong net worth of 423 crore, though revenue growth remains challenged by digitalization trends in the paper industry.

Revenue from operations decreased by 1.2% YoY to 52.15 crore from 52.78 crore.
Net Profit (PAT) remained nearly flat at 12.64 crore, showing a marginal 0.5% YoY growth.
Total expenses were managed down to 39.66 crore from 40.77 crore in the year-ago period.
Earnings Per Share (EPS) for the quarter stood at 28.78, compared to 28.66 in Q1 FY26.
The company continues to operate as a single-segment entity focused on manufacturing and selling felts.

💡 Investors should monitor the company's ability to revive revenue growth amidst the structural shift toward digitalization, while watching for the impact of the 'Operational Excellence Programme' on margins.

Aug 12 Record Date: Voith Paper Fabrics Sets 56th AGM and Dividend Eligibility

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 02 Aug 2026, 09:48 PM

Voith Paper Fabrics India has scheduled its 56th Annual General Meeting (AGM) for August 19, 2026, via video conferencing. The company has fixed August 12, 2026, as the record date to determine shareholder eligibility for the dividend for the financial year 2025-26. This follows a year where the company reported a TTM PAT of ₹41 crore and an EPS of ₹94.34. The register of members will remain closed from August 13 to August 19, 2026.

56th Annual General Meeting scheduled for August 19, 2026, at 3:30 p.m.
Record date for dividend entitlement fixed as August 12, 2026
Book closure period set from August 13, 2026, to August 19, 2026
Remote e-voting window open from August 16 (9:00 a.m.) to August 18 (5:00 p.m.), 2026
Cut-off date for e-voting eligibility is August 12, 2026

💡 Investors seeking the dividend payout must ensure shares are held in their demat accounts by the August 12 record date. Monitor the AGM for updates on the 'Operational Excellence' program and the status of the ₹12.94 crore Capital Work-in-Progress.

Voith Paper Fabrics Sets August 12, 2026, as Record Date for Dividend and 56th AGM

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 02 Aug 2026, 09:44 PM

Voith Paper Fabrics India has scheduled its 56th Annual General Meeting (AGM) for August 19, 2026, via video conferencing. The company has fixed August 12, 2026, as the record date to determine shareholder eligibility for the final dividend of FY 2025-26. This follows a stable financial year where the company reported a TTM PAT of Rs 41 crore and maintained a debt-free balance sheet. Shareholders must hold the stock by the record date to participate in the dividend payout and voting.

Record date for dividend entitlement and AGM voting fixed as August 12, 2026
56th Annual General Meeting scheduled for August 19, 2026, at 3:30 p.m. IST
Book closure period set from August 13, 2026, to August 19, 2026
Remote e-voting facility available from August 16 (9:00 a.m.) to August 18 (5:00 p.m.), 2026
Company reported TTM EPS of Rs 94.34 and maintains a 74.04% promoter holding

💡 Investors interested in the dividend should ensure they hold the shares in their demat account by the record date of August 12, 2026. Monitor the AGM for updates on the 'Operational Excellence Programme' and the progress of the Rs 12.94 Cr Capital Work-in-Progress.

Aug 6 Board Meeting to Consider Q1 FY27 Results for Voith Paper Fabrics India

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 28 Jul 2026, 10:16 PM

Voith Paper Fabrics India Ltd has scheduled its board meeting for August 6, 2026, to review and approve the unaudited financial results for the quarter ended June 30, 2026. The company enters this period with a TTM revenue of Rs 209 Cr and a strong operating margin of 26.9%. Recent quarterly net profits have fluctuated between Rs 8.19 Cr and Rs 12.58 Cr, making the upcoming results critical for trend assessment. The trading window for insiders remains closed until August 8, 2026.

Board meeting scheduled for August 6, 2026, to approve Q1 FY27 results
Trading window closed from July 1, 2026, to August 8, 2026
Company reported TTM revenue of Rs 209 Cr and PAT of Rs 41 Cr for FY26
Promoter holding remains stable at 74.04% as of June 2026
Operating profit margin (OPM) stood at 26.9% for the trailing twelve months

💡 Monitor the August 6 results to see if the 'Operational Excellence Programme' is successfully offsetting the impact of digitalization on traditional paper demand.

Voith Paper Fabrics India Schedules 56th AGM for August 19, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Jul 2026, 11:55 PM

Voith Paper Fabrics India has issued a physical letter to shareholders who have not registered their email addresses, providing access to the 56th Annual Report and AGM notice for FY 2025/26. The Annual General Meeting (AGM) is scheduled for August 19, 2026, via video conferencing. Key administrative dates include a cut-off for e-voting on August 12, 2026, and a book closure period from August 13 to August 19, 2026. The company also emphasized the mandatory requirement for electronic bank details to receive dividend payments.

56th Annual General Meeting scheduled for August 19, 2026, at 3:30 PM IST
Cut-off date for e-voting eligibility is Wednesday, August 12, 2026
Remote e-voting period spans from August 16, 2026 (9:00 AM) to August 18, 2026 (5:00 PM)
Book closure period for the AGM is set from August 13 to August 19, 2026
Mandatory electronic payment of dividends effective from April 1, 2024, requiring updated PAN and bank details

💡 Shareholders should verify that their email addresses and bank details are updated with the Registrar (MCS Share Transfer Agent Limited) or their Depository Participant to ensure receipt of dividends and corporate communications.

9.8% Revenue Growth in FY26; Voith Paper Fabrics Schedules 56th AGM for Aug 19

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 24 Jul 2026, 07:12 PM

Voith Paper Fabrics India reported FY26 revenue of ‹208.95 cr, a 9.84% YoY increase, while Profit Before Tax (PBT) grew 2.81% to ‹55.24 cr. Earnings were impacted by a one-time exceptional charge of ‹5.10 cr (INR 50.97 million) due to the implementation of new labor codes in November 2025. The company is seeking shareholder approval for Related Party Transactions (RPTs) for FY27 to facilitate international business growth through the Voith Group. Capital Work-in-Progress (CWIP) has risen to ‹12.94 cr, indicating ongoing capacity enhancements in its paper machine clothing business.

Total revenue for FY26 reached ‹208.95 cr, marking a growth of 9.84% over the previous year.
Profit Before Tax stood at ‹55.24 cr, reflecting a modest 2.81% growth after absorbing labor code costs.
Exceptional impact of ‹5.10 cr recorded during the year due to structural labor reforms.
Capital Work-in-Progress increased significantly to ‹12.94 cr from ‹3.23 cr in FY24.
Promoter holding remains high and stable at 74.04% as of June 2026.

💡 Monitor the AGM voting results on August 19, 2026, particularly regarding the approval of Related Party Transactions which are vital for the company's export strategy. Watch for the commissioning of the ‹12.94 cr CWIP to see its impact on FY27 production volumes.

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💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment: manufacturing and selling of paper machine clothing. While absolute revenue is not explicitly totaled in the snippets, Profit Before Tax grew 10.1% YoY from INR 48.80 Cr (537.26 Million) to INR 53.73 Cr (487.95 Million).

Profitability Margins

Profit Before Tax margin improved as PBT grew 10.1% YoY. Net Profit for FY24 was INR 36.29 Cr (362.94 Million). FY25 Net Profit is estimated at approximately INR 39.79 Cr based on equity changes and dividend payouts.

EBITDA Margin

Not explicitly disclosed, but Operating Cash Flow before working capital changes increased 12.4% from INR 46.50 Cr to INR 52.26 Cr, indicating strong core profitability growth.

Capital Expenditure

Total Capex for FY25 was INR 37.80 Cr, comprising INR 26.26 Cr for Property, Plant and Equipment/CWIP and INR 11.54 Cr for the construction of investment property.

⚙️ Operational Drivers

Raw Materials

Chemicals and flammable materials used in paper machine clothing production; specific synthetic fiber names not listed.

Capacity Expansion

Current Property, Plant and Equipment stands at INR 113.37 Cr with Capital Work-in-Progress of INR 12.94 Cr, up from INR 3.23 Cr in FY24, indicating ongoing capacity enhancements.

Raw Material Costs

Not explicitly disclosed as a % of revenue, but identified as a key risk due to fluctuating chemical and energy costs impacting the bottom line.

Manufacturing Efficiency

Efficiency is driven by the OPEX Programme; specific capacity utilization % not disclosed.

📈 Strategic Growth

Growth Strategy

Growth is targeted through the 'Operational Excellence (OPEX) Programme' to enhance resource utilization and the bottom line. The company is also positioning itself to benefit from government bans on single-use plastics, which is expected to boost paper manufacturing demand.

Products & Services

Paper machine clothing (consumables used in the paper manufacturing process).

Brand Portfolio

Voith

New Products/Services

Focus on sustainable and recycled paper product clothing; specific revenue contribution % not disclosed.

Market Expansion

Targeting growth in the Indian paper industry which is expected to expand due to infrastructure projects and plastic bans.

Strategic Alliances

Part of the global Voith Group; specific new JVs for FY25 not listed.

🌍 External Factors

Industry Trends

Shift toward sustainability and recycled paper (growing); digitalization of content (disrupting traditional paper); government ban on single-use plastics (regulatory tailwind).

Competitive Landscape

Faces competition from global players; industry lacks scale and efficiency compared to global benchmarks.

Competitive Moat

Moat is built on 'Operational Excellence' and specialized technical nature of paper machine clothing which requires high precision and integration with paper mill machinery.

Macro Economic Sensitivity

Highly sensitive to the growth of the Indian economy and government infrastructure spending which boosts paper demand.

Consumer Behavior

Shift in consumer preference toward digital content is reducing demand in the printing/writing paper segment.

Geopolitical Risks

Not explicitly detailed, though global market competition is noted as a challenge for the domestic paper industry.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with Ind AS 115 for revenue recognition and Section 135 for CSR; subject to environmental and pollution norms for manufacturing.

Environmental Compliance

Company focuses on minimizing water/energy usage and reducing emissions; specific ESG cost in INR not disclosed.

Taxation Policy Impact

Income tax paid (net of refund) was INR 13.60 Cr (135.96 Million) in FY25, up 14.7% from INR 11.85 Cr in FY24.

Legal Contingencies

Pending litigations are disclosed in Note 40 of the financial statements; specific case values were not provided in the document snippets.

⚠️ Risk Analysis

Key Uncertainties

Revenue recognition is a key audit matter due to presumed fraud risk in timing of control transfer. Audit trail (edit log) was not enabled for PPE/Asset masters from April 1, 2023, to March 7, 2024.