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ANDHRA PAPER LIMITED (ANDHRAPAP)

₹68.39 +0.01% last close, 16 Oct

📊 NSE: ANDHRAPAP 🏢 Paper 📢 Latest filing: 08 Sep 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, ANDHRA PAPER's revenue was ₹394 Cr (+0.1% year on year, -25.2% on the previous quarter), and net profit ₹30.0 Cr (+40.8% year on year); the operating margin was 12.4%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹394	+0.1%	-25.2%
Operating profit	₹49.0	+45.8%	+95.1%
Net profit	₹30.0	+40.8%	+288.6%
EPS (₹)	1.52	+42.1%	+289.7%
Operating margin	12.4%	—	—

Full quarterly financials → Results calendar →

ANDHRAPAP delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 42.64% of the ANDHRAPAP shares traded on NSE were taken to delivery, against the stock's own 20-session average of 37.05%. That is close to its usual level. Volume was 0.1 times its average, well below normal.

42.64%Delivery, 16 Oct

37.05%Own 20-session average

0.1×Volume vs its average

₹68.39NSE close · +0.01%

Delivery in the last 5 sessions: 13.9% · 22.9% · 28.0% · 42.5% · 42.6%

Delivery across the market →

A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed

📢 Recent Corporate Announcements

APPCB levies ₹21.02 Cr environmental compensation on Andhra Paper

🔴 NEGATIVE ⭐ 7/10

REGULATORY 📅 08 Sep 2026, 01:02 PM

Andhra Paper Limited has received an order dated September 5, 2026, from the Andhra Pradesh Pollution Control Board (APPCB) imposing an Environmental Compensation of ₹21,01,80,000 (₹21.02 Cr). The order alleges breaches of consent conditions and regulatory directions. The levied fine represents nearly 49% of the company's TTM net profit of ₹43 Cr, indicating significant earnings sensitivity if sustained. The company stated it is evaluating the order and plans to pursue remedial and legal measures.

APPCB levied Environmental Compensation of ₹21,01,80,000 on the company
Order is dated September 5, 2026, and was received by email on September 7, 2026
Penalty equals ~48.9% of Andhra Paper's TTM PAT of ₹43 Cr
Penalty levied on allegations of breach of consent conditions and APPCB directions

💡 Track whether Andhra Paper files an appeal or secures an interim stay from the appellate authority/High Court, and watch for potential one-time provisions in upcoming quarterly results.

Andhra Paper Restores Kadiyam Unit to 100% Capacity as 15 MTD Paper Machine Resumes

🟢 POSITIVE ⭐ 5/10

ROUTINE 📅 14 Aug 2026, 06:23 PM

Andhra Paper Limited announced that manufacturing operations at its Kadiyam Unit have been fully restored to 100% of normal capacity, up from 93% reported earlier. The third paper machine, having a production capacity of 15 MT per day, resumed operations effective August 14, 2026. The disruption was caused by demands raised by contract workmen regarding contractual terms, with no physical asset damage or loss incurred. This follows sequential resumption updates communicated earlier on July 15, 2026, and July 23, 2026.

Third paper machine with capacity of 15 MT per day resumed operations on August 14, 2026
Kadiyam Unit operational capacity fully restored to 100% (from 93% previously)
Nil expected quantum of loss/damage to physical assets
Disruption linked to contract workmen terms is fully resolved following updates on July 15 and July 23, 2026

💡 Track upcoming quarterly volume figures to evaluate if the temporary downtime at Kadiyam had any minor margin or volume drag.

12-Day Annual Maintenance Shutdown Scheduled at Rajahmundry Plant

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 13 Aug 2026, 06:29 PM

Andhra Paper Limited has announced a planned 12-day maintenance shutdown at its Rajahmundry manufacturing unit from August 17, 2026, to August 28, 2026. The outage is intended for routine overhauling of critical equipment, including paper machines, boilers, and a 34 MW turbine. The company confirmed that maintenance costs are already budgeted in the FY 2026-27 operating plan and that existing finished goods inventory is sufficient to meet supply commitments. This is a standard operational procedure to ensure long-term equipment reliability and efficiency.

Planned maintenance shutdown for 12 days from August 17 to August 28, 2026.
Maintenance includes overhauling of paper machines, boilers, digesters, and a 34 MW turbine.
Costs are fully provided for in the FY 2026-27 Annual Operating Plan.
Finished goods inventory is sufficient to fulfill supply commitments during the outage period.

💡 Investors should monitor the Q2 FY27 production volumes to ensure the shutdown was completed within the 12-day window without unforeseen technical delays.

Andhra Paper Re-appoints Saurabh Bangur as MD for 5-Year Term Starting October 2026

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 12 Aug 2026, 05:27 PM

Shareholders of Andhra Paper Limited approved the re-appointment of Mr. Saurabh Bangur as Managing Director for a five-year term effective October 1, 2026. Mr. Bangur is currently spearheading a critical ₹520 crore equipment upgrade and the 'Tissue Machine Project' aimed at diversifying the product mix. This leadership continuity is vital as the company seeks to recover from a 69% drop in net profit margins in FY25 and improve its current 6.5% operating margin. The re-appointment ensures stability during a period of strategic shift toward high-margin niche products like cup stock and pharma print.

Re-appointment confirmed for a 5-year term starting October 1, 2026, following the 62nd AGM.
MD is currently overseeing a ₹520 crore capital expenditure program for equipment modernization.
Company is navigating a challenging financial period with TTM PAT at ₹43 crore and ROCE at 2.0%.
Strategic focus remains on the Tissue Machine Project to diversify the portfolio and mitigate industry cyclicality.
Promoter holding remains stable at 72.45% as of June 2026.

💡 Investors should monitor the execution timeline and commissioning of the ₹520 crore upgrade and Tissue Machine Project, as these are the primary drivers for margin recovery.

₹0.50 Dividend Approved: Andhra Paper Shareholders Pass All Resolutions at 62nd AGM

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 12 Aug 2026, 05:14 PM

Andhra Paper Limited held its 62nd Annual General Meeting on August 11, 2026, where shareholders approved all five proposed resolutions. Key outcomes include the declaration of a final dividend of ₹0.50 per equity share (25% of face value) for the financial year ended March 31, 2026. Shareholders also approved the re-appointment of Mr. Saurabh Bangur as Managing Director via a special resolution with 99.95% votes in favor. The voting saw participation from 77.05% of the total shareholding, reflecting strong promoter and institutional alignment.

Final dividend of ₹0.50 per equity share of face value ₹2 approved for FY 2025-26
Special resolution for re-appointment of Mr. Saurabh Bangur as Managing Director passed with 99.95% majority
Total of 15,32,10,537 votes polled for the dividend resolution, representing 77.0482% of total shares
Record date for the meeting was August 4, 2026, with 41,417 shareholders on record
Adoption of Audited Financial Statements for FY26 passed with 99.99% votes in favor

💡 Investors should monitor the dividend credit timeline and focus on the execution of the company's planned ₹520 Cr equipment upgrade to improve productivity.

Andhra Paper AGM: ₹0.50 Dividend Declared and ₹520 Cr Modernization Plan Reaffirmed

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 11 Aug 2026, 06:44 PM

Andhra Paper Limited concluded its 62nd Annual General Meeting on August 11, 2026, where shareholders approved a final dividend of ₹0.50 per equity share. The meeting confirmed the re-appointment of Mr. Saurabh Bangur as Managing Director. Management highlighted the ongoing ₹520 Cr capital expenditure program for modernization, which is significant given it represents approximately 43% of TTM revenue. The company continues to focus on high-margin niche products like cup stock and pharma print to mitigate the impact of cheaper imports and low operating margins (6.5% TTM).

Approved a final dividend of ₹0.50 per equity share of face value ₹2 for FY 2025-26.
Re-appointment of Mr. Saurabh Bangur as Managing Director was passed as a special resolution.
Management reaffirmed the ₹520 Cr investment plan for equipment upgrades and modernization.
The meeting saw participation from 84 members via video conferencing.
Auditors' reports for FY 2025-26 were adopted without any qualifications or adverse remarks.

💡 Investors should monitor the quarterly progress of the ₹520 Cr modernization project and its ability to improve the current low ROCE of 2.0%.

42% YoY Profit Growth to ₹30.32 Cr in Q1 FY27 despite Kadiyam Unit lockout

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 04 Aug 2026, 03:36 PM

Andhra Paper reported a 42.3% YoY increase in Net Profit to ₹30.32 Cr for the quarter ended June 30, 2026, despite revenue remaining flat at ₹393.77 Cr. The quarter was significantly impacted by a labor strike and subsequent lockout at the Kadiyam Unit from May 1 to May 29, 2026, leading to a 25.3% sequential revenue decline from Q4 FY26. Profitability was bolstered by an 11.2% YoY reduction in raw material costs, which fell to ₹244.86 Cr. The Kadiyam Unit resumed operations in mid-July and has already reached 93% capacity utilization.

Net Profit increased 42.3% YoY to ₹30.32 Cr from ₹21.31 Cr in the year-ago period.
Revenue from operations remained stagnant at ₹393.77 Cr compared to ₹393.42 Cr in Q1 FY26.
Raw material costs decreased by ₹30.96 Cr (11.2%) YoY, significantly aiding margin expansion.
Kadiyam Unit reached 93% capacity utilization as of August 4, 2026, following a partial resumption on July 15.
Sequential revenue dropped 25.3% from ₹527.05 Cr in Q4 FY26 due to the 28-day lockout.

💡 Monitor the Kadiyam Unit's progress toward 100% capacity and the execution of the ₹520 Cr equipment upgrade, which represents approximately 42% of the current market cap and is key to long-term margin improvement.

93% Capacity Restored at Kadiam Unit as Second Paper Machine Resumes Operations

🟢 POSITIVE ⭐ 6/10

ROUTINE 📅 23 Jul 2026, 04:36 PM

Andhra Paper has resumed operations of its second paper machine at the Kadiam Unit as of July 23, 2026, adding 55 MT/day of production capacity. This restoration increases the unit's aggregate operational capacity from approximately 70% to 93%. The disruption, which began in late April 2026, was caused by contract workmen demands regarding contractual terms. The company is now working toward full normalization of manufacturing activities at the site.

Second paper machine with 55 MT/day capacity resumed operations on July 23, 2026
Kadiam Unit operational capacity increased from 70% to approximately 93%
Primary paper machine with 150 MT/day capacity was already operational prior to this update
Disruption was linked to contract workmen demands at the East Godavari facility
Company is targeting 100% restoration of normal manufacturing operations at the earliest

💡 Investors should monitor the upcoming quarterly results to assess the margin impact of the three-month production disruption and watch for the final 7% capacity restoration update.

₹0.50 Final Dividend: Andhra Paper Sets Aug 4 Record Date and Aug 11 AGM

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 21 Jul 2026, 05:24 PM

Andhra Paper Limited has scheduled its 62nd Annual General Meeting (AGM) for August 11, 2026, to approve a final dividend of ₹0.50 per share (25% of face value). The record date for determining dividend eligibility is fixed for August 4, 2026. Shareholders must ensure their PAN is linked with Aadhaar to avoid a higher TDS rate of 20% instead of the standard 10%. The total estimated dividend payout is approximately ₹9.9 Cr, which represents roughly 23% of the company's TTM PAT of ₹43 Cr.

Final dividend of ₹0.50 per equity share of ₹2 face value recommended for FY 2025-26.
Record date for dividend entitlement and e-voting eligibility is August 4, 2026.
62nd Annual General Meeting to be held virtually on August 11, 2026, at 11:30 AM IST.
Standard TDS of 10% applies for resident shareholders, increasing to 20% if PAN is not linked to Aadhaar.
Remote e-voting period is scheduled from August 8 (9:00 AM) to August 10, 2026 (5:00 PM).

💡 Investors seeking the dividend must hold shares by the record date of August 4, 2026, and should ensure tax-related documents are submitted to the RTA by the same date to manage withholding tax.

Andhra Paper Reports Rs 1,693 Cr Turnover in FY26 Sustainability Filing

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 20 Jul 2026, 04:59 PM

Andhra Paper Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26, disclosing a total turnover of Rs 1,692.98 Cr. The company remains heavily focused on the domestic market, with exports contributing only 0.59% of total revenue. The report highlights a workforce of 6,366 individuals and a reduction in customer complaints from 57 to 38 year-on-year. Financial health remains stable with a reported net worth of Rs 1,939.35 Cr as of March 2026.

Reported annual turnover of Rs 1,692.98 Cr for the financial year 2025-26
Total workforce comprises 844 employees and 5,522 workers as of year-end
Customer complaints decreased to 38 in FY26 from 57 in the previous year, with a 100% resolution rate
Export contribution remains marginal at 0.59% of total turnover
Paid-up capital stands at Rs 39.77 Cr (reported as Rs 3,977 Lakhs)

💡 Monitor the execution of the planned Rs 520 Cr equipment upgrade mentioned in company strategy, which aims to improve the current low operating margins (6.5% TTM). This filing is procedural and requires no immediate portfolio action.

150 MT/Day Production Resumes at Andhra Paper's Kadiam Unit; 70% Capacity Operational

🟢 POSITIVE ⭐ 6/10

OTHER 📅 15 Jul 2026, 08:04 PM

Andhra Paper has partially resumed operations at its Kadiam unit effective July 15, 2026, following a labor dispute that led to a lockout earlier in the year. One paper machine with a capacity of 150 MT per day, representing approximately 70% of the unit's production, is now operational. While permanent employees have returned to their shifts, contract labor attendance remains low at approximately 35% of normal strength. The company is working toward full normalization subject to increased manpower availability and operational stabilization.

150 MT per day production capacity resumed at the Kadiam unit on July 15, 2026
70% of the Kadiam unit's production capacity is now operational following the partial resumption
35% attendance level currently reported for contract workmen engaged through third-party contractors
Resumed capacity (approx. 54,750 TPA) represents ~21.4% of the company's total 2,55,550 TPA capacity
Operations were previously disrupted since the initial lockout disclosure on April 30, 2026

💡 Investors should monitor the timeline for the resumption of the remaining 30% capacity at the Kadiam unit and the stabilization of contract labor attendance to 100%.

August 04, 2026 set as Record Date for FY 2025-26 Dividend

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 13 Jul 2026, 03:33 PM

Andhra Paper Limited has fixed August 04, 2026, as the record date to determine shareholder eligibility for the FY 2025-26 dividend. The dividend is subject to approval at the company's upcoming 62nd Annual General Meeting (AGM). Once declared, the payment will be processed within 30 days. This follows a period where the company reported a TTM PAT of Rs 43 Cr and an OPM of 6.5%, reflecting margin pressures in the paper industry.

Record date for dividend eligibility is fixed for August 04, 2026
Dividend pertains to the financial year 2025-26
Payment to be completed within 30 days of declaration at the 62nd AGM
Company maintains a high promoter holding of 72.45% as of March 2026
TTM EPS stands at Rs 2.16 against a current market price of Rs 62.0

💡 Investors should monitor the 62nd AGM notice to confirm the specific dividend amount per share to calculate the actual yield.

62nd Annual General Meeting Scheduled for August 11, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Jul 2026, 03:13 PM

Andhra Paper Limited has announced its 62nd Annual General Meeting (AGM) to be held on August 11, 2026, via video conferencing. The record date for the electronic dispatch of the Annual Report for FY 2025-26 is set for July 17, 2026. This meeting follows a fiscal year where the company faced significant margin pressure, with net profit margins dropping 69% due to cheaper imports and operational disruptions. Investors should monitor the AGM for updates on the ongoing ₹520 Cr equipment upgrade project, which represents approximately 42% of the company's current market capitalization.

62nd Annual General Meeting scheduled for August 11, 2026, at 11:30 AM IST
Electronic dispatch of Annual Report to members registered as of July 17, 2026
Company is pursuing a ₹520 Cr equipment upgrade to improve productivity and margins
FY25 operations were impacted by a 28-day strike and 50 total days of outages
Current installed capacity stands at 2,55,550 TPA for paper and 2,00,000 TPA for pulp

💡 Investors should review the upcoming Annual Report for specific timelines on the ₹520 Cr capex execution and management's strategy to counter cheap imports.

Andhra Paper Submits Quarterly SEBI Compliance Certificate for June 30, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Jul 2026, 04:09 PM

Andhra Paper Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document, issued by KFin Technologies Limited (the Registrar and Share Transfer Agent), confirms that share dematerialization and rematerialization requests for the quarter ended June 30, 2026, have been processed. This is a standard administrative filing required by all listed companies to ensure the accuracy of electronic shareholding records. It does not reflect any change in the company's financial position or business operations.

Compliance certificate issued for the quarter ended June 30, 2026
Confirmation provided by Registrar and Share Transfer Agent, KFin Technologies Limited
Filing submitted to BSE and NSE on July 07, 2026
Confirms processing of dematerialization and rematerialization requests as per SEBI norms

💡 No action is required as this is a routine procedural filing. Investors should monitor upcoming quarterly financial results for updates on the company's Rs 520 Cr equipment upgrade plan.

Andhra Paper to Close Trading Window from July 1, 2026, for Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 24 Jun 2026, 11:56 AM

Andhra Paper Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting July 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the company's financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the un-audited financial results are officially declared to the exchanges. This is a standard regulatory procedure followed by listed companies every quarter.

Trading window closure effective from July 1, 2026
Closure relates to the un-audited financial results for the quarter ending June 30, 2026
Restriction applies to all designated persons and their immediate relatives
Window will reopen 48 hours after the official declaration of financial results

💡 No action is required as this is a routine regulatory filing. Investors should await the announcement of the Q1 financial results for performance assessment.

View All ANDHRAPAP Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Revenue from operations for FY 2024-25 was INR 1,541.24 Cr, representing a decline of 14.4% compared to INR 1,801 Cr in FY 2023-24. For the 9-month period ending December 2024 (9MFY25), revenue was INR 1,134 Cr, a 21% decrease from INR 1,436 Cr in 9MFY24, primarily due to softening realizations and a surge in cheaper imports.

Geographic Revenue Split

The domestic market remains the primary revenue driver, while the export share was approximately 4% in FY 2024-25, a significant decline from the 8% export share reported in previous periods.

Profitability Margins

Profitability saw a sharp decline in FY 2024-25; Operating EBITDA margin fell to 8.73% from 23.94% in FY 2023-24 (a 64% decrease), and Net Profit Margin dropped to 5.77% from 18.87% (a 69% decrease). For 9MFY25, the PAT margin was 7% compared to 20% in 9MFY24.

EBITDA Margin

EBITDA margin for FY 2024-25 was 8.73%, down from 23.94% YoY. Core profitability was impacted by a 28-day operational strike, a 22-day annual outage, and rising raw material costs which squeezed margins despite the company's resilience.

Capital Expenditure

The company has declared a planned capital expenditure of approximately INR 520 Cr for upgrading current equipment to enhance operational efficiency, streamline processes, and increase productivity.

Credit Rating & Borrowing

ICRA assigned a long-term rating of [ICRA]AA (Stable) and a short-term rating of [ICRA]A1+ in December 2025. CARE Ratings previously reaffirmed CARE AA (Stable) but the company voluntarily withdrew the CARE rating in November 2025. The interest coverage ratio moderated significantly to 7.74x in FY25 from 118.61x in FY24.

⚙️ Operational Drivers

Raw Materials

Key raw materials include virgin pulp and wood. Cost of materials consumed for 9MFY25 was INR 706 Cr, representing approximately 62.2% of total revenue.

Import Sources

The company sources wood through a farm forestry program covering 0.3 million hectares. It also faces competition from cheaper imports of finished paper from international markets, which impacts domestic pricing.

Key Suppliers

Not specifically named, but the company relies on a network of farmers for its 0.3 million hectare farm forestry coverage and benefits from synergies with its parent company, West Coast Paper Mills Limited.

Capacity Expansion

Current installed capacity is 2,55,550 TPA for paper and 2,00,000 TPA for virgin pulp. A planned INR 520 Cr investment is focused on upgrading existing equipment rather than greenfield capacity expansion.

Raw Material Costs

Raw material costs are a significant driver, with the cost of material consumed reaching INR 706 Cr in 9MFY25. Fluctuating wood and chemical costs, combined with softening paper realizations, led to a 64% decline in operating EBITDA margins.

Manufacturing Efficiency

The company achieved total sales of 2,26,288 metric tonnes in FY 2024-25 despite 50 days of combined strike and maintenance outages, demonstrating a capacity utilization of approximately 88.5%.

Logistics & Distribution

The company distributes products across India through an extensive dealer network, focusing on value-added products with higher Net Sales Realizations (NSR).

📈 Strategic Growth

Expected Growth Rate

8.00%

Growth Strategy

Growth will be achieved through an INR 520 Cr equipment upgrade to improve productivity and a strategic shift toward high-margin, value-added niche products such as cup stock, pharma print, and Hi BF Virgin Kraft. The company aims to leverage the plastic ban which aids the cup stock segment.

Products & Services

Writing paper, Printing paper, Industrial paper, Copier paper, Cup stock, Pharma print, and Hi BF Virgin Kraft.

Brand Portfolio

Andhra Paper Limited (Corporate Brand).

New Products/Services

Focusing on niche segments like cup stock (benefiting from plastic bans) and specialty pharma print, which command higher realizations and face lower threat from generic imports.

Market Expansion

The company is focusing on increasing the proportion of value-added products in its mix to diversify end-user segments and mitigate the impact of industry cyclicality.

Market Share & Ranking

One of the largest integrated paper and pulp manufacturers in India and the only paper mill using virgin pulp in Andhra Pradesh.

Strategic Alliances

Andhra Paper benefits from being part of the West Coast Paper Mills Limited (WCPM) group, which provides operational synergies and centralized treasury functioning.

🌍 External Factors

Industry Trends

The Indian paper industry is forecast to grow at a CAGR of 8.0% through 2033. Trends include a shift toward sustainable packaging (cup stock) due to plastic bans, though digitization remains a long-term threat to traditional paper segments.

Competitive Landscape

The landscape is characterized by intense competition from cheaper imports and domestic players. APL competes by focusing on virgin pulp-based high-quality niche products.

Competitive Moat

The moat is built on fully integrated operations (pulp to paper), in-house captive power, and a 0.3 million hectare farm forestry program. These provide cost leadership and high entry barriers in a fragmented industry.

Macro Economic Sensitivity

Highly sensitive to the performance of the Indian economy and global paper industry cycles. GDP growth and digitization trends directly impact demand for printing and writing paper.

Consumer Behavior

Shifts toward e-commerce and sustainable packaging are increasing demand for industrial and specialty papers, while digitization is reducing demand for traditional printing paper.

Geopolitical Risks

Global economic conditions and trade policies regarding paper imports (especially from low-cost producers) pose significant risks to domestic realizations.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to environmental standards regarding emissions and water usage. The company proactively manages regulatory compliance to avoid operational restrictions.

Environmental Compliance

The company is ISO 14001:2015 certified and invests in sustainable technologies to align with increasing regulations on emissions and water use.

Taxation Policy Impact

The effective tax rate for 9MFY25 was approximately 27% (INR 30 Cr tax on INR 111 Cr PBT).

Legal Contingencies

The company faced a 28-day labor strike in FY25 which disrupted operations. It maintains policies to comply with labor laws and prevent sexual harassment to mitigate legal risks.

⚠️ Risk Analysis

Key Uncertainties

Key risks include fluctuating raw material costs, foreign exchange volatility, and the threat of cheaper imports which could impact margins by over 60% as seen in the FY25 results.