Boss Packaging Solutions Limited (BOSS)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Boss Packaging's revenue was ₹10.0 Cr (+1.6% year on year, +0.5% on the previous half-year), and net profit ₹0.8 Cr (-12.9% year on year); the operating margin was 12.7%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹10.0 | +1.6% | +0.5% |
| Operating profit | ₹1.3 | -1.5% | -12.9% |
| Net profit | ₹0.8 | -12.9% | -4.7% |
| EPS (₹) | 1.82 | -12.9% | -4.7% |
| Operating margin | 12.7% | — | — |
BOSS delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 100.0% of the BOSS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 92.29%. That is close to its usual level. Turnover was only ₹1 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal. It closed at a price band (circuit) on 2 sessions in about the last 20.
Delivery in the last 5 sessions: 100.0% · 100.0% · 100.0% · 100.0% · 100.0%
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
Boss Packaging Solutions Limited announced the appointment of Ms. Drashtiben Ravikumar Aghera as Company Secretary and Compliance Officer, effective September 26, 2026. The decision was approved during a 45-minute Board of Directors meeting held between 12:00 PM and 12:45 PM on the same date. Ms. Aghera is an Associate Company Secretary (Membership No. A77539) holding an M.Com degree received in 2022, with background experience in merchant banking and secretarial functions. The filing is purely administrative and carries no financial or operating impact on the company's ₹35 crore TTM revenue base.
- Appointment of Ms. Drashtiben Ravikumar Aghera effective September 26, 2026
- Appointee holds ICSI Membership No: A77539 and completed M.Com in the year 2022
- Board meeting commenced at 12:00 P.M. and concluded at 12:45 P.M. on September 26, 2026
- Appointee previously served as an Assistant Manager in a Merchant Banking Company specializing in IPO and listing compliances
Boss Packaging Solutions Limited announced the appointment of Ms. Drashtiben Ravikumar Aghera as Company Secretary and Compliance Officer, effective September 26, 2026. The decision was approved during a 45-minute Board of Directors meeting held between 12:00 PM and 12:45 PM on the same date. Ms. Aghera is an Associate Company Secretary (Membership No. A77539) holding an M.Com degree received in 2022, with background experience in merchant banking and secretarial functions. The filing is purely administrative and carries no financial or operating impact on the company's ₹35 crore TTM revenue base.
- Appointment of Ms. Drashtiben Ravikumar Aghera effective September 26, 2026
- Appointee holds ICSI Membership No: A77539 and completed M.Com in the year 2022
- Board meeting commenced at 12:00 P.M. and concluded at 12:45 P.M. on September 26, 2026
- Appointee previously served as an Assistant Manager in a Merchant Banking Company specializing in IPO and listing compliances
Boss Packaging Solutions Limited announced the appointment of Ms. Drashtiben Ravikumar Aghera as Company Secretary and Compliance Officer, effective September 26, 2026. The decision was approved during a 45-minute Board of Directors meeting held between 12:00 PM and 12:45 PM on the same date. Ms. Aghera is an Associate Company Secretary (Membership No. A77539) holding an M.Com degree received in 2022, with background experience in merchant banking and secretarial functions. The filing is purely administrative and carries no financial or operating impact on the company's ₹35 crore TTM revenue base.
- Appointment of Ms. Drashtiben Ravikumar Aghera effective September 26, 2026
- Appointee holds ICSI Membership No: A77539 and completed M.Com in the year 2022
- Board meeting commenced at 12:00 P.M. and concluded at 12:45 P.M. on September 26, 2026
- Appointee previously served as an Assistant Manager in a Merchant Banking Company specializing in IPO and listing compliances
Boss Packaging Solutions Limited has approved the allotment of 6,42,740 convertible warrants to promoters and promoter group entities on a preferential basis. The issue price is fixed at ₹38 per warrant (face value ₹10 plus ₹28 premium), aggregating to approximately ₹2.44 crore upon full conversion. The company received 25% upfront application consideration totaling ₹61.06 lakh (₹9.50 per warrant). The remaining 75% balance consideration must be paid within 18 months upon exercising the conversion option into equity shares.
- Allotment of 6,42,740 convertible warrants to Promoter and Promoter Group on a preferential basis
- Issue price set at ₹38 per warrant, comprising ₹10 face value and ₹28 premium
- 25% upfront consideration collected upfront amounting to ₹61,06,030
- Conversion window open for up to 18 months from allotment date upon paying 75% balance consideration
Boss Packaging Solutions Limited announced the resignation of Mrs. Sweta Prajapati from the role of Company Secretary, Compliance Officer, and Key Managerial Personnel (KMP) effective August 31, 2026. The resignation was tendered via letter dated August 18, 2026, citing other professional commitments with no other material reasons mentioned. The company will need to appoint a successor to comply with statutory listing norms. With a TTM revenue base of Rs 35 Cr, this administrative change does not impact day-to-day manufacturing or commercial operations.
- Mrs. Sweta Prajapati (ACS: 66245) ceased to be CS & Compliance Officer effective August 31, 2026
- Resignation letter submitted on August 18, 2026 citing other professional commitments
- No other material reasons cited for the cessation as per regulatory disclosures
- Company to initiate appointment of a new KMP and Compliance Officer per SEBI regulations
Boss Packaging Solutions Limited has informed the stock exchange of the cessation of Mrs. Sweta Prajapati from the role of Company Secretary, Compliance Officer, and Key Managerial Personnel. The resignation is effective from the close of business hours on August 31, 2026, following her resignation letter dated August 18, 2026. The departure is attributed to other professional commitments with no other material reasons cited. The company will need to appoint a successor to comply with statutory secretarial and listing requirements.
- Resignation effective from close of business hours on August 31, 2026
- Resignation letter tendered on August 18, 2026
- Reason stated is other professional commitments with no other material reasons
- Mrs. Sweta Prajapati ceases as Company Secretary, Compliance Officer, and KMP (ACS: 66245)
Boss Packaging Solutions Limited announced the voting results of its 14th Annual General Meeting held on August 26, 2026, where all 5 resolutions were approved with 100% votes in favor. Key passed items include the re-appointment of Managing Director Manishbhai Natvarbhai Brahmbhatt for three years, an increase in authorized share capital, and the issuance of convertible equity warrants to promoters on a preferential basis. A total of 31,72,260 promoter shares (representing 71.35% of total equity) participated in the vote, with zero participation recorded from public shareholders.
- All 5 resolutions passed with 100% favorable votes, representing 31,72,260 promoter shares (71.35% total voting capital)
- Approved special resolution for issuance of convertible warrants to the promoter group on a preferential basis
- Approved re-appointment of Managing Director Manishbhai Natvarbhai Brahmbhatt for a further 3-year term
- Shareholder count stood at 313 on the record date of August 19, 2026 with no public institutional or non-institutional votes polled
Boss Packaging Solutions Limited has received in-principle approval from the National Stock Exchange of India (NSE) for the issuance of 6,45,700 convertible warrants of face value Rs. 10 each on a preferential basis. The approval letter (Ref: NSE/LIST/56695) was dated August 26, 2026. This approval clears a key regulatory hurdle for the company's proposed preferential allotment. Final allotment and listing remain subject to compliance with SEBI ICDR and LODR regulations.
- NSE granted in-principle approval for the issuance of 6,45,700 Convertible Warrants via preferential allotment.
- The convertible warrants have a face value of Rs. 10/- each.
- Exchange letter Ref. No. NSE/LIST/56695 is dated August 26, 2026.
- Approval is conditional on statutory compliances, including monitoring trading by proposed allottees under SEBI ICDR regulations.
Boss Packaging Solutions Limited conducted its 14th Annual General Meeting on August 26, 2026, with 7 shareholders representing 71.39% equity (31,74,160 shares) attending. Key resolutions placed before members included the re-appointment of Managing Director Manishbhai Brahmbhatt for 3 years, an increase in authorized share capital, and the issuance of convertible warrants to the promoter group on a preferential basis. Detailed e-voting results and scrutiny reports are scheduled to be submitted within two working days.
- 14th AGM held virtually on August 26, 2026, concluding in 12 minutes (11:30 AM to 11:42 AM)
- Total of 7 shareholders attended representing 31,74,160 equity shares or 71.39% of total equity
- Special resolutions included preferential issue of convertible warrants to promoters and an increase in authorized share capital
- Managing Director Manishbhai Brahmbhatt proposed for re-appointment for a 3-year term
Boss Packaging Solutions Limited has responded to an NSE surveillance inquiry dated August 19, 2026 regarding significant movement in its share price. The company confirmed compliance with Regulation 30 of SEBI (LODR) Regulations, 2015, stating no undisclosed price-sensitive information or events exist. Management affirmed that the price volatility is purely market-driven, and no operational changes have been withheld.
- Responded to NSE surveillance email ref. no. NSE/CM/Surveillance/17372 dated August 19, 2026
- Confirmed full compliance with SEBI LODR disclosure regulations on August 20, 2026
- Clarified that all material price-sensitive information is already disclosed and price movement is purely market-driven
Boss Packaging Solutions Limited announced that its Company Secretary and Compliance Officer (KMP), Mrs. Sweta Prajapati (ACS: 66245), has tendered her resignation effective close of business hours on August 31, 2026. The resignation is cited to be due to other professional commitments, with no other material reasons stated. The formal acceptance will be placed before the Board of Directors at the next meeting. This is a routine secretarial turnover for the packaging machinery manufacturer.
- Company Secretary & Compliance Officer Sweta Prajapati tendered resignation on August 18, 2026
- Cessation takes effect from close of business hours on August 31, 2026
- Reason provided is other professional commitments with no material underlying reasons
Boss Packaging Solutions Limited has informed the exchange that Mrs. Sweta Prajapati (ACS: 66245) has tendered her resignation as Company Secretary and Compliance Officer (KMP). The resignation is effective from the close of business hours on August 31, 2026, due to other professional commitments. The filing will be placed before the Board of Directors at its next meeting for formal acceptance. This is a routine administrative change with no impact on the company's manufacturing operations or revenue base (TTM revenue: ₹35 Cr).
- Mrs. Sweta Prajapati resigned as Company Secretary and Compliance Officer (KMP)
- Effective date of cessation is the close of business hours on August 31, 2026
- Reason stated is other professional commitments, with no other material reasons cited
- Resignation letter dated August 18, 2026 to be formally accepted at the next Board meeting
Boss Packaging Solutions has issued a notice for its 14th Annual General Meeting (AGM) on August 26, 2026. Key resolutions include increasing the authorized share capital by 20% from ₹5 crore to ₹6 crore and the re-appointment of Managing Director Manishbhai Brahmbhatt for a three-year term. The company also intends to seek approval for issuing convertible warrants on a preferential basis, signaling potential future capital infusion. This follows the company's ongoing utilization of IPO proceeds for capacity expansion in the packaging machinery sector.
- Proposed increase in Authorized Equity Share Capital from ₹5,00,00,000 to ₹6,00,00,000
- Re-appointment of Managing Director Manishbhai Brahmbhatt for a 3-year term starting September 25, 2026
- Cut-off date for e-voting eligibility set for August 19, 2026
- Remote e-voting period scheduled from August 23 to August 25, 2026
- Proposal for issuance and allotment of convertible warrants on a preferential basis
Boss Packaging Solutions has approved a preferential issue of 6,45,700 convertible warrants to its promoter group at ₹38 per warrant, totaling approximately ₹2.45 Cr. This infusion represents about 15.3% of the company's current net worth of ₹16 Cr. The board also approved the re-appointment of Manishbhai Brahmbhatt as Managing Director for a three-year term starting September 2026. These proposals are subject to shareholder approval at the upcoming AGM on August 26, 2026.
- Preferential allotment of 6,45,700 warrants to promoters at ₹38.00 per unit
- Total fundraise of ₹2,45,36,600, representing ~15.3% of current net worth
- Increase in authorized share capital from ₹5 Cr to ₹6 Cr
- Re-appointment of Managing Director for a 3-year term effective September 25, 2026
- Warrants convertible into equity shares within a maximum period of 18 months
Boss Packaging Solutions has approved a fundraise of Rs 2.45 Cr through the issuance of 6,45,700 convertible warrants to the promoter group at Rs 38 per share. This capital infusion represents approximately 15.3% of the company's current net worth of Rs 16 Cr. The board also approved the re-appointment of Managing Director Manishbhai Brahmbhatt for a three-year term starting September 2026. To facilitate this, the authorized share capital is being increased from Rs 5 Cr to Rs 6 Cr.
- Fundraise of Rs 2.45 Cr through 6,45,700 convertible warrants to promoters
- Issue price fixed at Rs 38 per warrant, including a premium of Rs 28
- Authorized share capital increased by 20% from Rs 5 Cr to Rs 6 Cr
- MD Manishbhai Brahmbhatt re-appointed for a 3-year term effective Sept 25, 2026
- 14th Annual General Meeting (AGM) scheduled for August 26, 2026
Financial Performance
Revenue Growth by Segment
The company operates in a single business segment of manufacturing packaging machinery. Revenue from operations grew by 84.94% YoY, increasing from INR 539.96 lakhs in H1 FY25 to INR 998.60 lakhs in H1 FY26. This growth is driven by increased demand for automated packaging solutions across the food, beverage, and pharmaceutical sectors.
Geographic Revenue Split
Not disclosed in available documents; however, the company is headquartered in Ahmedabad, Gujarat, and serves industries including beverages, cosmetics, and pharmaceuticals which are geographically dispersed across India.
Profitability Margins
Net Profit Margin for H1 FY26 stood at 8.47%, a decline from 11.31% in H1 FY25. While absolute Net Profit grew 39.30% YoY to INR 85.17 lakhs, margins were compressed due to a significant rise in the cost of materials consumed, which reached INR 669.36 lakhs (66.55% of total revenue).
EBITDA Margin
EBITDA margin for H1 FY26 is approximately 15.32% (calculated as PBT of INR 127.13 lakhs + Depreciation of INR 25.23 lakhs + Finance Costs of INR 1.73 lakhs - Other Income of INR 0.00 lakhs relative to Revenue from Operations). This reflects healthy core operational profitability despite rising input costs.
Capital Expenditure
The company has planned a capital expenditure of INR 333.70 lakhs for the purchase of machineries as part of its IPO objects. As of September 30, 2025, INR 158.93 lakhs has been utilized for machinery, with INR 174.77 lakhs remaining for further expansion. Additionally, INR 4.00 lakhs was spent on property, plant, and equipment in H1 FY26.
Credit Rating & Borrowing
Credit rating is not disclosed. However, the company has significantly reduced its debt profile; finance costs decreased by 76.87% YoY to INR 1.73 lakhs in H1 FY26. Long-term borrowings were reduced to zero from INR 2.52 lakhs in March 2025, and short-term borrowings decreased from INR 28.46 lakhs to INR 17.04 lakhs.
Operational Drivers
Raw Materials
Specific raw material names are not listed, but 'Cost of Materials Consumed' represents the largest expense at INR 669.36 lakhs, accounting for 66.55% of total revenue in H1 FY26.
Capacity Expansion
The company is currently expanding its manufacturing capabilities using IPO proceeds. It has utilized INR 158.93 lakhs of a planned INR 333.70 lakhs for new machinery to increase production of packaging lines for the beverage and pharmaceutical industries.
Raw Material Costs
Raw material costs stood at INR 669.36 lakhs in H1 FY26, representing 66.55% of revenue. This is a substantial increase from INR 293.99 lakhs in H1 FY25, indicating that material procurement is the primary driver of operational cost volatility.
Manufacturing Efficiency
Depreciation and amortization increased to INR 25.23 lakhs in H1 FY26 from INR 2.03 lakhs in H1 FY25, reflecting the commissioning of new machinery and higher asset utilization.
Strategic Growth
Growth Strategy
Growth is being pursued through capacity expansion funded by IPO proceeds (INR 840.84 lakhs total raised). The strategy involves investing INR 333.70 lakhs in new machinery to serve high-growth sectors like pharmaceuticals and food processing, and utilizing INR 300.00 lakhs for working capital to support larger order volumes.
Products & Services
Manufacturing and exporting of packaging machinery specifically designed for Beverages, Cosmetics, Dairy, Distillers, Food, Pesticides, and Pharmaceuticals.
Brand Portfolio
BOSS Packaging Solutions.
Market Expansion
The company is utilizing general corporate purpose funds (INR 142.14 lakhs) from the IPO to strengthen its market presence and potentially expand its distribution network.
External Factors
Industry Trends
The packaging machinery industry is shifting toward high-speed automation and integration with IoT for smart manufacturing. BOSS is positioning itself by upgrading its machinery fleet through IPO-funded CAPEX.
Competitive Landscape
The company competes with both domestic and international packaging machinery manufacturers in a fragmented market.
Competitive Moat
The company's moat is built on specialized engineering expertise for diverse industries (Pharma, Dairy, etc.). This is sustainable due to the high switching costs and technical specifications required by regulated industries like pharmaceuticals.
Macro Economic Sensitivity
The company is sensitive to industrial CAPEX cycles in India. A slowdown in GDP growth would reduce the expansion plans of its client base in the food and beverage sectors, lowering demand for packaging machinery.
Consumer Behavior
Increased consumer demand for packaged and processed foods is driving the need for more sophisticated and hygienic packaging lines from BOSS's clients.
Geopolitical Risks
As an exporter of packaging machinery, the company is subject to international trade regulations and potential tariffs in target export markets.
Regulatory & Governance
Industry Regulations
Operations are subject to manufacturing standards and safety norms for industrial machinery. Pharmaceutical packaging lines must also comply with stringent health and safety regulations.
Taxation Policy Impact
The effective tax rate for H1 FY26 was approximately 33.01%, with a current tax provision of INR 44.61 lakhs on a PBT of INR 127.13 lakhs.
Legal Contingencies
The Limited Review Report by the auditors did not disclose any material pending litigations or legal contingencies that would impact the financial results.
Risk Analysis
Key Uncertainties
The primary uncertainty is the utilization of the remaining INR 179.85 lakhs of IPO proceeds. Delays in deploying these funds for machinery could slow down expected capacity-led growth.
Geographic Concentration Risk
The company is heavily concentrated in Ahmedabad, Gujarat, for its manufacturing operations, making it susceptible to regional industrial policies or disruptions.
Third Party Dependencies
High dependency on raw material suppliers, as evidenced by the 66.55% cost contribution, makes the company vulnerable to supplier price hikes.
Technology Obsolescence Risk
The packaging industry is rapidly evolving; failure to invest in R&D for automated and eco-friendly packaging could lead to technology obsolescence.
Credit & Counterparty Risk
Trade receivables increased by 47.80% to INR 238.91 lakhs in H1 FY26, indicating a potential increase in credit risk or longer collection cycles from customers.
