KABRAEXTRU - Kabra Extrusion
📢 Recent Corporate Announcements
Kabra Extrusion Technik Limited has announced the resignation of Mr. Daulat Jain from the position of Chief Financial Officer (CFO) and Key Managerial Personnel. The resignation is effective from the close of business hours on April 27, 2026. According to the filing, Mr. Jain is leaving to pursue another career opportunity, and there are no other material reasons for his departure. The company will now need to initiate a search for a successor to manage its financial operations.
- Mr. Daulat Jain resigned as CFO and Key Managerial Personnel effective April 27, 2026.
- The resignation is attributed to the pursuit of another career opportunity.
- The company confirmed there are no other material reasons for the resignation.
- The disclosure was made under Regulation 30 of SEBI (LODR) Regulations, 2015.
The promoter group of Kabra Extrusiontechnik Limited has filed its annual declaration under SEBI (SAST) Regulations for the financial year ended March 31, 2026. Anand Shreevallabh Kabra, representing the promoter and promoter group, confirmed that no shares held by them were pledged or encumbered during the year. This routine disclosure includes various family members and entities such as Plastiblends India Limited and Kolsite Industries. The filing ensures transparency regarding the status of promoter holdings as per regulatory requirements.
- Declaration filed under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- Promoters and Persons Acting in Concert (PAC) confirmed zero shares were pledged or encumbered during FY 2025-26.
- The disclosure covers 13 entities and individuals within the promoter group, including Kolsite Industries and Plastiblends India Limited.
- The filing was submitted to the BSE, NSE, and the company's Audit Committee on April 01, 2026.
Kabra Extrusion Technik Limited has announced the closure of its trading window starting April 1, 2026, in compliance with SEBI insider trading regulations. This closure is ahead of the declaration of the audited financial results for the quarter and financial year ending March 31, 2026. The window will remain closed for all designated persons and their relatives until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be announced later.
- Trading window closure starts from Wednesday, April 01, 2026.
- Closure pertains to audited standalone and consolidated financial results for Q4 and FY26.
- Window to reopen 48 hours after the official declaration of financial results.
- Restriction applies to all designated persons, immediate relatives, and connected persons.
Kabra Extrusiontechnik Limited has secured a significant domestic order valued at approximately Rs 133 crore, excluding GST. The contract is for manufacturing energy storage solutions, marking a notable win in its green energy segment. The project is slated for execution during the 2026-27 financial year. This order provides strong revenue visibility and reinforces the company's transition towards high-growth energy storage markets.
- Order value of approximately Rs 133 crore (excluding GST)
- Contract involves manufacturing for Energy Storage solutions
- Execution timeline is scheduled for the financial year 2026-27
- Awarded by a domestic customer under a contract manufacturing arrangement
Kabra Extrusion Technik Limited has announced the resignation of Mr. Subhabrata Ghosh from the position of Chief Operating Officer (COO). The resignation is effective as of February 16, 2026, with the executive choosing to pursue a career in a different domain. The company has confirmed that there are no other material reasons for his departure beyond personal career progression. This change in senior management requires monitoring to ensure operational stability during the transition period.
- Mr. Subhabrata Ghosh resigned as Chief Operating Officer (COO) effective February 16, 2026.
- The resignation is categorized under Senior Management Personnel changes as per SEBI regulations.
- The stated reason for departure is to pursue a career in another domain.
- The company has officially accepted the resignation and relieved him of his duties immediately.
- No other material reasons for the resignation were disclosed by the company or the executive.
Kabra Extrusion reported a revenue of ₹ 1,103 Mn for Q3 FY26, with the core Extrusion Machinery division contributing ₹ 756 Mn and the Geon (battery) segment adding ₹ 348 Mn. The company's EBITDA for the quarter was notably low at ₹ 15 Mn, reflecting significant margin pressure during a self-described transitional phase. Management attributed the slowdown to global economic conditions and a temporary halt in domestic government spending on infrastructure projects like the Jal Jeevan Mission. Despite the current weakness, the company is optimistic about a revival in government CAPEX and growth in its EV battery and BESS programs.
- Operating Revenues for Q3 FY26 stood at ₹ 1,103 Mn, with 9M FY26 revenue totaling ₹ 3,309 Mn.
- EBITDA for the quarter was ₹ 15 Mn, representing a very thin margin of approximately 1.36%.
- Extrusion Machinery revenue was ₹ 756 Mn for Q3, while the Geon (formerly Battrixx) segment contributed ₹ 348 Mn.
- Management cited a temporary slowdown in the Plastic Extrusion division due to global headwinds and paused Jal Jeevan Mission spending.
- The company is pivoting towards high-voltage battery packs, BESS, and battery swapping infrastructure for future revenue visibility.
Kabra Extrusion reported Q3 FY26 revenue of ₹1,103 Mn, with the machinery division contributing ₹756 Mn and the Geon battery segment ₹348 Mn. The company's EBITDA for the quarter was notably low at ₹15 Mn, attributed to global economic headwinds and a pause in government infrastructure spending like the Jal Jeevan Mission. Management describes this as a transitional phase, with 9M FY26 cumulative revenue at ₹3,309 Mn and EBITDA at ₹75 Mn. Future growth is pinned on a potential revival in government Capex following the Union Budget 2026 and expansion into high-voltage battery packs.
- Operating Revenue for Q3 FY26 stood at ₹1,103 Mn, with 9M FY26 revenue at ₹3,309 Mn.
- EBITDA for the quarter was ₹15 Mn, showing significant pressure compared to the 9M total of ₹75 Mn.
- Extrusion Machinery revenue was ₹756 Mn for Q3, hit by a temporary halt in domestic infrastructure programs.
- Geon (battery) segment revenue was ₹348 Mn for Q3, with ongoing investments in BESS and high-voltage packs.
- Management anticipates demand recovery in the next few quarters contingent on the Union Budget 2026.
Kabra Extrusion Technik reported a significant bottom-line turnaround for Q3 FY26, posting a consolidated net profit of ₹15.70 crore compared to a loss of ₹10.86 crore in the same period last year. While consolidated revenue remained flat at ₹110.50 crore, the company demonstrated improved operational efficiency. The Battery Division (Battrixx) continues to be a major growth driver, contributing nearly 48% of the total revenue. For the nine-month period ended December 2025, the company has successfully reversed its previous losses to post a profit of ₹28.72 crore.
- Consolidated Net Profit of ₹15.70 Cr in Q3 FY26 vs a Net Loss of ₹10.86 Cr in Q3 FY25.
- Battery Division (Battrixx) revenue stood at ₹53.17 Cr, contributing significantly to the total revenue of ₹110.50 Cr.
- Extrusion Machinery Division revenue remained stable at ₹57.34 Cr for the quarter.
- 9-Month (9M FY26) consolidated profit reached ₹28.72 Cr, a sharp recovery from the ₹10.86 Cr loss in 9M FY25.
- Earnings Per Share (EPS) improved to ₹4.44 for the quarter from a negative ₹3.07 YoY.
Kabra Extrusiontechnik Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations for the quarter ended December 31, 2025. The certificate, issued by MUFG Intime India Private Limited, confirms that all share dematerialization requests were processed within the prescribed timelines. It ensures that physical certificates were cancelled and the depositories' names were updated in the company's register. This is a standard administrative filing required by Indian listing regulations.
- Compliance certificate issued for the quarter ended December 31, 2025.
- Confirmation provided by Registrar and Share Transfer Agent, MUFG Intime India Private Limited.
- Verification that dematerialized securities are listed on the relevant stock exchanges.
- Physical security certificates were mutilated and cancelled after due verification per SEBI norms.
CRISIL has reaffirmed the credit ratings for Kabra Extrusiontechnik Limited's bank facilities. The long-term rating is maintained at 'CRISIL A' with a 'Negative' outlook, while the short-term rating remains 'CRISIL A1'. A significant development is the enhancement of total rated bank loan facilities from Rs 154 Crore to Rs 354 Crore, indicating a substantial increase in the company's borrowing capacity or requirements. The 'Negative' outlook suggests that the credit profile remains under pressure despite the reaffirmation.
- Long-term bank facility rating reaffirmed at 'CRISIL A' with a 'Negative' outlook
- Short-term bank facility rating reaffirmed at 'CRISIL A1'
- Total rated bank loan facilities increased from Rs 154 Crore to Rs 354 Crore
- The rating action covers a total facility value of Rs 354 Crore as of January 06, 2026
Kabra Extrusiontechnik Limited has announced the closure of its trading window starting January 01, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is ahead of the declaration of the company's Unaudited Financial Results for the quarter ending December 31, 2025. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the results are made public. The specific date for the board meeting to approve these results will be communicated separately.
- Trading window closure begins on January 01, 2026
- Closure pertains to the financial results for the quarter ending December 31, 2025
- Window to reopen 48 hours after the announcement of Standalone and Consolidated results
- Applies to all designated persons, connected persons, and their immediate relatives
Financial Performance
Revenue Growth by Segment
In Q2 FY26, operating revenues grew 56.6% QoQ to INR 134.6 Cr. The Extrusion Machinery segment grew 48.0% QoQ to INR 88.7 Cr, while the Geon (formerly Battrixx) battery segment surged 56.3% QoQ to INR 47.0 Cr. For FY25, total revenue was INR 477 Cr, with the revenue mix shifting to 74% Extrusion and 26% Battery, compared to 57:43 in FY24.
Geographic Revenue Split
The company caters to the domestic Indian market and exports to Africa, West Asia, and South-East Asia. Specific percentage splits per region are not disclosed, but export demand is currently weighed down by global macroeconomic factors and rising tariffs.
Profitability Margins
Profitability has seen significant volatility. Q2 FY26 PAT stood at INR 0.3 Cr, recovering from a loss of INR 7.6 Cr in Q1 FY26. FY25 PAT margin was 6.8% (INR 32 Cr). 9M FY24 PAT margin was 3.4% (INR 14.8 Cr) compared to 5.1% (INR 25.1 Cr) in 9M FY23, impacted by lower sales and higher R&D costs.
EBITDA Margin
EBITDA margin for FY25 was 10.9% (INR 52 Cr). In Q2 FY26, EBITDA was INR 9.0 Cr, a significant recovery from a loss of INR 3.0 Cr in Q1 FY26. 9M FY24 EBITDA margin was 7.4% (INR 32.7 Cr) versus 10.3% (INR 50.7 Cr) in 9M FY23, a contraction of 290 bps due to a shift in product mix toward lower-margin battery packs.
Capital Expenditure
The company expects an annual maintenance capex outflow of INR 25 Cr to INR 45 Cr. It recently raised INR 101.02 Cr through the issuance and conversion of warrants to fund capital expenditure, R&D, and operating expenses.
Credit Rating & Borrowing
CRISIL reaffirmed the short-term rating at 'CRISIL A1' but revised the long-term rating outlook to 'Negative' from 'Stable' while reaffirming 'CRISIL A+'. The negative outlook reflects lower-than-expected operating performance and margin pressure. Interest coverage is expected to remain healthy above 5.0x.
Operational Drivers
Raw Materials
Specific raw material names like lithium-ion cells or steel are not explicitly listed with cost percentages, but the company notes that the battery business carries lower gross margins than extrusion machinery. Employee costs and R&D expenses are major operational cost drivers, with R&D and employee cost increases impacting margins by 350 bps.
Import Sources
Not specifically disclosed, though the company has technological tie-ups with partners in Germany, Italy, and Finland for its extrusion business.
Capacity Expansion
Current installed capacity is not disclosed in MT/units. However, the company is focused on 'ramping up volumes' in the battery division to meet demand for 2-wheeler electric vehicles.
Raw Material Costs
Raw material costs are a significant portion of the battery business, which has lower gross margins. Margin pressure was specifically noted following the reduction of the FAME subsidy, which affected the entire supply chain.
Manufacturing Efficiency
Manufacturing efficiency is impacted by product mix; the battery business currently has lower margins than the established extrusion business. Capacity utilization percentages are not provided.
Strategic Growth
Expected Growth Rate
15%
Growth Strategy
Growth is driven by the 'ramping up' of the battery division (Battrixx/Geon) to serve the 2-wheeler EV market and the resilience of the extrusion machinery segment (30-40% market share). The company is utilizing INR 101 Cr in raised funds for R&D and capacity expansion to capture the private capex cycle resurgence.
Products & Services
Extrusion machinery (for pipes, films, etc.) and EV battery packs.
Brand Portfolio
Battrixx, Geon, Kolsite.
New Products/Services
The Geon (formerly Battrixx) battery division is the primary new growth engine, though its specific expected revenue contribution percentage for future years is not fixed, it grew 56.3% QoQ recently.
Market Expansion
Targeting growth in the domestic 2-wheeler EV space and maintaining a presence in Africa, West Asia, and South-East Asia.
Market Share & Ranking
The company holds a 30-40% market share in the organized extrusion machinery space in India.
Strategic Alliances
JVs and alliances include Battenfeld-Cincinnati (Germany), Penta Srl (Italy), Unicor GmbH (Germany), and Mecanor Oy (Finland).
External Factors
Industry Trends
The industry is shifting toward electric mobility and increased private capex in infrastructure. The EV battery market is growing rapidly but faces margin pressure from subsidy changes and intense competition.
Competitive Landscape
The extrusion segment is highly fragmented with many small players. The battery segment is emerging with high competition and evolving technology.
Competitive Moat
The moat is built on a 40-year track record, a dominant 30-40% market share in extrusion, and deep technological tie-ups with European partners. This is sustainable as long as the company maintains its lead in technological adoption.
Macro Economic Sensitivity
Highly sensitive to government infrastructure spending and EV subsidy policies. A reduction in FAME subsidies caused immediate margin pressure across the supply chain.
Consumer Behavior
Shift toward 2-wheeler EVs is a primary driver for the Battrixx division.
Geopolitical Risks
Rising global tariffs are increasing the landing costs of exported machinery, weighing on the demand outlook for the extrusion business in international markets.
Regulatory & Governance
Industry Regulations
Operations are subject to government regulations regarding EV subsidies (FAME) and GST rationalization, which influence consumer demand and capital expenditure cycles.
Taxation Policy Impact
The company is subject to standard Indian corporate tax rates. It recently received a notice under Section 130 of the GST Act, 2017.
Legal Contingencies
The company received a notice under the Goods and Service Tax Act, 2017, for tax and penalty amounting to INR 1,65,73,048.
Risk Analysis
Key Uncertainties
Key risks include the sustainability of EV demand without subsidies (potential 10% margin impact), technological obsolescence in machinery, and global trade barriers.
Geographic Concentration Risk
While it exports, a significant portion of revenue is domestic, and export markets are currently facing macroeconomic headwinds.
Third Party Dependencies
High dependency on technological partners for machinery design and potentially on cell suppliers for the battery business.
Technology Obsolescence Risk
The extrusion segment is technology-intensive; the company mitigates this through collaborations with international firms like Battenfeld-Cincinnati.
Credit & Counterparty Risk
Receivables quality is a monitorable factor; debtors turnover slowed by 13.9% in FY25.