East India Drums and Barrels Manufacturing Ltd (523874)
📈 Share price & events
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, East India's revenue was ₹63.4 Cr (-3.6% year on year, +6.0% on the previous quarter), and net profit ₹1.4 Cr (+6.5% year on year); the operating margin was 7.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹63.4 | -3.6% | +6.0% |
| Operating profit | ₹4.5 | -8.2% | +7.2% |
| Net profit | ₹1.4 | +6.5% | +82.8% |
| EPS (₹) | 0.92 | +7.0% | +84.0% |
| Operating margin | 7.0% | — | — |
📢 Recent Corporate Announcements
East India Drums and Barrels Manufacturing Ltd has received a Letter of Acceptance (LOA) for a domestic work order worth ₹12.69 Cr from Indian Oil Corporation Limited. The order entails the supply of MS Plain & Epi coated barrels to be executed over a period of 12 months. This contract represents approximately 5.2% of the company's TTM revenue of ₹246 Cr. The transaction is conducted in the ordinary course of business and is not a related-party transaction.
- Received contract valued at ₹12,68,76,000.00 (₹12.69 Cr) from Indian Oil Corporation Limited
- Scope involves the supply of MS Plain & Epi coated barrels
- Execution timeline is stipulated as 12 months
- Order size represents ~5.2% of TTM revenue of ₹246 Cr
Promoter Madhav Jayesh Valia disclosed the open-market sale of 85,672 equity shares (0.58% stake) of East India Drums and Barrels Manufacturing Ltd on September 29, 2026. The transaction value stood at Rs 81,30,701 (approx. Rs 94.9 per share). Following the sale, his individual shareholding decreased from 31.82% (47,01,272 shares) to 31.24% (46,15,600 shares). The total promoter group holding remains substantial at over 94%.
- Promoter sold 85,672 shares representing 0.58% of the company's total voting capital
- Total transaction value was Rs 81,30,701 executed via open market on September 29, 2026
- Individual holding declined from 47,01,272 shares (31.82%) to 46,15,600 shares (31.24%)
- Total voting equity capital remained constant at 1,47,74,221 shares
East India Drums and Barrels Manufacturing Ltd has incorporated an overseas subsidiary, EIDB Ceylon Private Limited, in Sri Lanka on September 28, 2026. The company holds an 80% stake (80 shares) acquired for a nominal cash consideration of Rs 800. The subsidiary is intended to engage in manufacturing drums and barrels to expand international presence. Given the nominal initial investment relative to East India Drums' TTM revenue of Rs 246 Cr, the immediate financial impact is negligible.
- Incorporated 80% subsidiary EIDB Ceylon Private Limited in Sri Lanka on September 28, 2026
- Subscribed to 80 shares for a cash consideration of Rs 800
- Target entity is newly formed with Nil historical turnover
- Focus is on manufacturing drums and barrels to expand presence in overseas markets
Promoter Madhav Jayesh Valia disposed of 1,30,000 equity shares (0.88% of total share capital) of East India Drums and Barrels Manufacturing Ltd via open market sale on September 28, 2026. The transaction was executed for a total traded value of ₹1,23,37,650 (approx. ₹1.23 Cr), representing roughly 0.88% of the company's current ₹140 Cr market capitalization. Following the transaction, the promoter's individual shareholding reduced from 32.70% (48,31,272 shares) to 31.82% (47,01,272 shares). Aggregate promoter group holding remains extremely high at over 93%.
- Promoter Madhav Jayesh Valia sold 1,30,000 equity shares (0.88% stake) via open market
- Transaction value stood at ₹1,23,37,650 on September 28, 2026
- Individual promoter holding decreased from 32.70% (48,31,272 shares) to 31.82% (47,01,272 shares)
- Total diluted equity capital base remains unchanged at 1,47,74,221 shares
Promoter Madhav Jayesh Valia offloaded 22,55,833 equity shares (15.27% stake) of East India Drums and Barrels Manufacturing Ltd on August 25, 2026, via an open market Offer for Sale (OFS). The aggregate transaction value stood at Rs 21.46 cr. Following the transaction, the promoter's direct holding decreased from 50.92% (75,22,800 shares) to 35.65% (52,66,967 shares).
- Promoter Madhav Jayesh Valia sold 22,55,833 shares (15.27% equity) on August 25, 2026.
- Total traded value of the transaction was Rs 21,45,74,835 (excluding taxes and levies).
- Promoter's personal holding reduced from 50.92% to 35.65% post-sale.
- Total voting equity base remains unchanged at 1,47,74,221 shares.
Promoter Madhav Jayesh Valia disposed of 4,35,695 equity shares representing a 2.95% stake in East India Drums and Barrels Manufacturing Ltd on August 26, 2026. The open market transaction had a total traded value of ₹4.14 crore (excluding taxes and levies). Following the sale, Valia's direct shareholding decreased from 35.65% (52,66,967 shares) to 32.70% (48,31,272 shares). The company submitted this revised intimation under SEBI SAST and PIT regulations to rectify typographical errors in an earlier filing.
- Promoter Madhav Jayesh Valia sold 4,35,695 equity shares (2.95% stake) on August 26, 2026
- Total transaction value stood at ₹4,14,23,228 via open market disposal
- Seller's individual holding reduced from 52,66,967 shares (35.65%) to 48,31,272 shares (32.70%)
- Total paid-up voting equity base of the company remains unchanged at 1,47,74,221 shares
East India Drums and Barrels Manufacturing reported a 6.70% YoY increase in Q1 FY27 net profit to ₹135.30 lakhs (₹1.35 crore), compared to ₹126.81 lakhs in Q1 FY26, with EPS rising to ₹0.92 from ₹0.86. Total income fell 3.45% YoY to ₹63.72 crore from ₹66.00 crore, while EBITDA declined 5.94% to ₹4.74 crore. The company highlighted strong revenue visibility backed by a Letter of Acceptance from HPCL for ~₹83.71 crore, followed by an additional HPCL order of ~₹8.97 crore (total ~₹92.68 crore, representing ~37.7% of TTM revenue of ₹246 crore).
- Q1 FY27 Net Profit rose 6.70% YoY to ₹135.30 lakhs vs ₹126.81 lakhs in Q1 FY26
- Total income for Q1 FY27 stood at ₹6,372.36 lakhs (down 3.45% YoY vs ₹6,599.86 lakhs)
- Secured major HPCL Letter of Acceptance for ~₹83.71 crore plus an additional order of ~₹8.97 crore
- FY26 annual net profit had grown 29.79% YoY to ₹467.41 lakhs on EBITDA of ₹1,882.05 lakhs
- Production volume reached 24.08 lakh drums and barrels in FY25 vs 23.52 lakh units in FY24
Promoter Madhav Jayesh Valia offloaded 22,55,833 equity shares, representing a 15.27% stake in East India Drums and Barrels Manufacturing Ltd on August 25, 2026. The transaction was conducted via the open market for a total gross consideration of ₹21.46 Cr. Following this sale, the promoter's individual shareholding decreased from 50.92% (75,22,800 shares) to 35.65% (52,66,967 shares).
- Promoter Madhav Jayesh Valia disposed of 22,55,833 equity shares (15.27% of voting capital)
- Total transaction value stood at ₹21,45,74,835 executed on BSE on August 25, 2026
- Post-transaction holding reduced to 52,66,967 shares (35.65%) from 75,22,800 shares (50.92%)
- Total diluted equity base remains unchanged at 1,47,74,221 shares
East India Drums and Barrels Manufacturing Ltd has secured a contract via the Government e-Marketplace (GeM) from Munitions India Limited, a Central Public Sector Undertaking under the Ministry of Defence. The order entails supplying 1,519 barrels of 200-litre capacity as per IS 1783 standards for packing and transporting NC. While the total order value was not disclosed, the volume represents a modest contract compared to the company's TTM revenue of ₹246 crore. The win strengthens the company's credentials in supplying packaging solutions to defence sector entities.
- Awarded contract GEMC-511687754032147 via GeM from Munitions India Limited (CPSU under Ministry of Defence)
- Order entails supply of 1,519 barrels with 200-litre capacity
- Barrels to be used for packing and transportation of NC as per IS 1783 standards
- Financial value of the order was not disclosed
East India Drums and Barrels Manufacturing Ltd has issued a corrigendum to its August 13, 2026, board meeting outcome, clarifying that no final dividend has been declared for FY 2025-26. The previous mention of a dividend was a typographical error and has been deleted from the record. The company remains focused on its Annual General Meeting (AGM), with the record date set for September 21, 2026. This clarification is consistent with the company's current non-operational status and ongoing resolution process.
- Clarified that 0 (zero) final dividend is recommended or declared for the Financial Year 2025-26
- Fixed September 21, 2026, as the Record Date for the purpose of the ensuing AGM
- Announced Book Closure period from September 22, 2026, to September 28, 2026
- Corrected a typographical error in the previous filing dated August 13, 2026
East India Drums and Barrels Manufacturing Ltd has scheduled its 45th Annual General Meeting (AGM) for September 28, 2026. The Board approved the unaudited standalone financial results for Q1 FY27 but decided against declaring an interim dividend for the 2026-27 fiscal year. A record date of September 21, 2026, has been established to determine shareholder eligibility for the AGM and any potential final dividend for FY 2025-26. The company continues to operate under a high debt-to-equity ratio of 2.18 with operations contingent on a pending Resolution Plan.
- 45th Annual General Meeting (AGM) to be held on September 28, 2026, via video conferencing.
- Record date for determining member entitlement fixed as September 21, 2026.
- Board explicitly did not approve any interim dividend for the Financial Year 2026-27.
- Register of Members and Share Transfer Books will remain closed from September 22 to September 28, 2026.
- Unaudited standalone financial results for the quarter ended June 30, 2026, were approved.
The Board of Directors met on August 13, 2026, and formally disapproved the declaration of an interim dividend for FY 2026-27. This decision aligns with the company's current financial position, characterized by a high Debt-to-Equity ratio of 2.18 and suspended operations. While the company generated a TTM PAT of Rs 5 Cr, capital is likely being preserved for the ongoing Corporate Insolvency Resolution Process (CIRP). Investors should focus on the restructuring progress rather than immediate payouts, especially given the high promoter stake of 94.7%.
- Board meeting held on August 13, 2026, resulted in no dividend declaration.
- Company reported a TTM PAT of Rs 5 Cr against a revenue of Rs 248 Cr.
- Debt-to-Equity ratio remains elevated at 2.18 with total debt of Rs 48 Cr.
- Promoter holding is exceptionally high at 94.7% as of June 2026.
East India Drums and Barrels Manufacturing Ltd has scheduled its 45th Annual General Meeting (AGM) for September 28, 2026. The Board has fixed September 21, 2026, as the record date for the AGM and to determine eligibility for a potential final dividend for FY 2025-26. Notably, the Board decided against declaring any interim dividend for the current financial year 2026-27. The company currently operates in a non-functional state, with its future contingent on the Corporate Insolvency Resolution Process (CIRP) and a proposed amalgamation.
- Record date of September 21, 2026, established for the 45th Annual General Meeting.
- 45th AGM scheduled to be held on September 28, 2026, via Video Conferencing.
- Interim dividend for FY 2026-27 was explicitly not approved by the Board.
- Book closure period set from September 22, 2026, to September 28, 2026.
- Unaudited standalone financial results for the quarter ended June 30, 2026, were approved.
East India Drums and Barrels reported standalone revenue from operations of ₹63.45 Cr for Q1 FY27, showing a 6.0% sequential growth over ₹59.83 Cr in Q4 FY26, but a 3.6% decline year-on-year from ₹65.82 Cr. Net profit after tax rose 6.7% YoY and 82.5% QoQ to ₹1.35 Cr, translating to a quarterly EPS of ₹0.92. The company decided against declaring an interim dividend for FY27. Additionally, the 45th Annual General Meeting is scheduled for September 28, 2026.
- Revenue from operations reached ₹6,344.50 lakhs (₹63.45 Cr), up 6.0% QoQ from ₹5,983.30 lakhs but down 3.6% YoY from ₹6,582.17 lakhs
- Net profit after tax grew to ₹135.30 lakhs (₹1.35 Cr) vs ₹126.81 lakhs in Q1 FY26 and ₹74.16 lakhs in Q4 FY26
- Basic and diluted EPS stood at ₹0.92 for the quarter against ₹0.86 in Q1 FY26 and ₹0.50 in Q4 FY26
- Total expenses were ₹6,176.34 lakhs with cost of materials consumed at ₹4,809.45 lakhs
- The Board did not declare an interim dividend for FY27 and fixed September 21, 2026 as the record date for the AGM
East India Drums and Barrels Manufacturing Ltd has scheduled a board meeting for August 13, 2026, to approve its Q1 FY27 financial results and consider an interim dividend for the current fiscal year. The company reported a PAT of ₹5.0 Cr in FY26 on a revenue of ₹248 Cr, with a current market capitalization of ₹163 Cr. Given the high promoter holding of 94.68%, any dividend declaration will primarily benefit the majority owners but serves as a signal of liquidity. Investors should note the company's high debt-to-equity ratio of 2.18 and its ongoing restructuring context.
- Board meeting scheduled for August 13, 2026, to consider interim dividend for FY 2026-27
- Review of unaudited financial results for the quarter ended June 30, 2026
- Promoter holding remains exceptionally high at 94.68% as of June 2026
- Company reported TTM PAT of ₹5 Cr against a debt of ₹48 Cr
- TTM Operating Profit Margin stands at 6.8% as of the latest filings
Company profilewritten 13 Nov 2025
Financial Performance
Revenue Growth by Segment
Not disclosed in available documents as the company has not been engaged in active business operations for several years.
Profitability Margins
Not disclosed; the company is currently non-functional and undergoing the Corporate Insolvency Resolution Process (CIRP).
Capital Expenditure
Not disclosed; future capital expenditure is dependent on the approval and implementation of the Resolution Plan.
Operational Drivers
Raw Materials
Steel (implied by product name and mention of steel industry volatility). Specific percentage of total cost not disclosed.
Capacity Expansion
Current capacity is non-functional as operations have been suspended for several years; resumption and expansion are contingent on the amalgamation with East India Drums & Barrels Manufacturing Limited post-CIRP approval.
Raw Material Costs
Not disclosed; however, management identifies steel industry volatility as a key threat that could lead to price fluctuations in input costs.
Strategic Growth
Growth Strategy
The growth strategy is entirely dependent on the success of the Corporate Insolvency Resolution Process (CIRP) and the anticipated approval of the Resolution Plan. Post-approval, the company plans to resume operations through amalgamation, expand its product range, and target 'preferred supplier' status among major steel drum buyers in India and neighboring countries.
Products & Services
Steel drums and barrels.
Brand Portfolio
East India Drums & Barrels Manufacturing Limited (formerly Precision Containeurs Ltd.)
New Products/Services
Expansion of product range is planned post-operationalization; specific contribution percentages are not disclosed.
Market Expansion
The company aims to enter new markets where it currently has limited or no presence post-operationalization.
Strategic Alliances
Amalgamation with East India Drums & Barrels Manufacturing Limited (the Resolution Applicant) is the primary strategic move.
External Factors
Industry Trends
The industry is characterized by excess manufacturing capacity and a shift toward alternative packaging solutions. However, government reforms for MSMEs, such as the Credit Guarantee Fund Scheme and MUDRA, provide a supportive regulatory environment for recovery.
Competitive Landscape
Key competition arises from alternative packaging (ISO tankers/flexi-tanks) and other steel drum manufacturers operating in a high-capacity, low-margin environment.
Competitive Moat
The company relies on its legacy and the potential to attain 'preferred supplier' status post-restructuring. Its moat is currently weak due to non-operational status but could be rebuilt through industry consolidation.
Macro Economic Sensitivity
The company is sensitive to Indian GDP growth, which is projected at 6.5% to 7% for FY 2024-25. Inflationary pressures and rising central bank interest rates are noted as factors that could impact commodity prices and operational costs.
Consumer Behavior
A shift toward more efficient or flexible packaging solutions like flexi-tanks is affecting traditional drum demand.
Geopolitical Risks
Geopolitical tensions, specifically the war in Ukraine, are identified as factors contributing to global economic volatility and potential supply chain disruptions.
Regulatory & Governance
Industry Regulations
The company must comply with MSME reforms and RBI liquidity packages. Operations are subject to government policies and market liberalization by the Government of India.
Legal Contingencies
The company is currently under the Corporate Insolvency Resolution Process (CIRP). It has a promoter shareholding of 94.76% (1,39,99,965 shares) and is working toward the approval of a Resolution Plan.
Risk Analysis
Key Uncertainties
The primary uncertainty is the successful completion of the CIRP and the subsequent amalgamation. Failure to operationalize under the Resolution Plan would result in continued business inactivity.
Geographic Concentration Risk
The company is based in Mumbai, Maharashtra, with 100% of its current focus on the Indian market.
Third Party Dependencies
Highly dependent on the Resolution Applicant for the resumption of business operations.
Technology Obsolescence Risk
Risk of traditional steel drums being replaced by more modern, flexible packaging solutions like ISO tankers.
