Rajshree Polypack Limited (RPPL)
₹18.44 -1.07% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Rajshree Polypack's revenue was ₹103 Cr (+24.7% year on year, +12.3% on the previous quarter), and net profit ₹7.3 Cr (+77.8% year on year); the operating margin was 14.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹103 | +24.7% | +12.3% |
| Operating profit | ₹14.4 | +42.1% | -0.2% |
| Net profit | ₹7.3 | +77.8% | +13.8% |
| EPS (₹) | 0.98 | +78.2% | +14.0% |
| Operating margin | 14.0% | — | — |
RPPL exchange data
NSE end-of-day data for
It closed at a price band (circuit) on 4 sessions in about the last 20.
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
Rajshree Polypack Limited has received fresh credit ratings from CARE Ratings Limited for its bank borrowing facilities. Long-term bank facilities, including Cash Credit and Term Loans, have been assigned a rating of 'CARE BBB+; Stable'. Short-term and non-fund-based facilities (CC/WCDL/OD/LC/BG) have been assigned 'CARE BBB+; Stable / CARE A2'. With total debt currently at Rs 123 Cr against net worth of Rs 188 Cr (D/E of 0.65), an investment-grade rating supports continued access to bank funding for ongoing operations and capex.
- CARE Ratings assigned 'CARE BBB+; Stable' to long-term Cash Credit and Term Loan facilities
- Short-term bank facilities (CC/WCDL/OD/LC/BG) assigned 'CARE BBB+; Stable / CARE A2'
- Rating covers company borrowing facilities, supporting existing debt profile of Rs 123 Cr
Rajshree Polypack Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate, issued by its Registrar and Share Transfer Agent, MUFG Intime India Private Limited, confirms adherence to dematerialisation procedures. Notably, the RTA stated that zero dematerialisation requests were received from shareholders during the quarter ended September 30, 2026. This is a standard quarterly administrative filing with no financial impact.
- Filing submitted pursuant to Regulation 74(5) of SEBI Regulations, 2018 for quarter ended September 30, 2026
- RTA MUFG Intime India Pvt. Ltd confirmed zero demat requests were received during the quarter
- Confirmation certificate issued by RTA on October 09, 2026, and submitted to NSE on October 12, 2026
Rajshree Polypack Limited has submitted the voting results and scrutinizer's report for its 15th Annual General Meeting held on September 15, 2026. The meeting was conducted via Video Conferencing with 5 promoter group members and 53 public shareholders in attendance. Total shareholder count on the cut-off date of September 08, 2026 stood at 13,189. This filing represents routine compliance under Regulation 44(3) of SEBI LODR Regulations.
- 15th Annual General Meeting held virtually on September 15, 2026
- Total number of shareholders on cut-off date (September 08, 2026) was 13,189
- Meeting attended by 5 promoter group members and 53 public shareholders via video conferencing
- Submission made pursuant to Regulation 44(3) of SEBI LODR Regulations
Rajshree Polypack Limited concluded its 15th Annual General Meeting (AGM) on September 15, 2026, conducted via video conferencing. A total of 8 resolutions were placed before shareholders and passed with requisite majority as per the Scrutinizer's report. Key agendas included the adoption of FY26 financial statements, re-appointment of Managing Directors Mr. Ramswaroop Radheshyam Thard and Mr. Naresh Radheshyam Thard for 5-year terms, and revisions to executive remuneration.
- 15th Annual General Meeting concluded on September 15, 2026, at 11:40 A.M. IST
- All 8 resolutions (2 ordinary and 6 special business items) approved with requisite majority
- Approved 5-year re-appointments and remuneration revisions for Chairman & MD and Joint MD
- Final scrutinizer voting report to be submitted to exchanges within 2 working days (by September 17, 2026)
Rajshree Polypack Limited informed the exchange that CRISIL Ratings Limited has reaffirmed its credit ratings for the company's bank facilities. The rating for both Cash Credit and Term Loan facilities has been reaffirmed at 'CRISIL BBB+/Stable'. The company currently carries total debt of Rs 123 Cr against a net worth of Rs 188 Cr (D/E of 0.65x).
- CRISIL reaffirmed 'CRISIL BBB+/Stable' rating for Cash Credit facilities
- CRISIL reaffirmed 'CRISIL BBB+/Stable' rating for Term Loan facilities
- Intimation submitted under Regulation 30 on September 01, 2026
Rajshree Polypack Limited has informed the exchange that company executives will participate in a Non-Deal Roadshow on Friday, September 4, 2026. The meetings will feature both 1-on-1 and group interactions with investors and brokers, organized by Churchgate Partners at Awfis BKC, Mumbai. The company confirmed that only publicly available information will be discussed without any unpublished price-sensitive information (UPSI).
- Non-Deal Roadshow scheduled for Friday, September 4, 2026
- Interaction format includes 1x1 and group meetings in physical mode
- Event organized by Churchgate Partners at Awfis BKC, Mumbai
- No unpublished price-sensitive information (UPSI) will be shared
Rajshree Polypack Limited has issued notice for its 15th Annual General Meeting (AGM) scheduled for September 15, 2026, via video conferencing. Key agenda items include the adoption of FY26 audited standalone and consolidated financial statements, alongside the re-appointment of Chairman & Managing Director Ramswaroop Radheshyam Thard for a 5-year term from October 15, 2026. The company has also proposed revising CMD remuneration to ₹110.39 Lakhs per annum (up from ₹102.39 Lakhs) and Joint MD Naresh Thard's remuneration to ₹90.52 Lakhs per annum (up from ₹82.52 Lakhs). Additionally, shareholders will vote on re-appointing Independent Director Praveen Bhatia and approving ₹1,00,000 per month in professional fees for his services.
- 15th AGM scheduled for Tuesday, September 15, 2026, at 11:00 AM IST via video conference.
- Proposed re-appointment of CMD Ramswaroop Radheshyam Thard for 5 years (Oct 15, 2026 to Oct 14, 2031) with remuneration revised to ₹110.39 Lakhs per annum.
- Proposed remuneration revision for Joint MD Naresh Radheshyam Thard to ₹90.52 Lakhs per annum w.e.f. April 1, 2026.
- Approval sought for payment of ₹1,00,000 per month as professional fees to Independent Director Praveen Bhatia for FY27.
- Cost Auditor M/s. V.J. Talati & Co. proposed remuneration ratified at ₹66,000 plus applicable taxes for FY27.
Rajshree Polypack Limited announced that its 15th Annual General Meeting (AGM) is scheduled for Tuesday, September 15, 2026, at 11:00 AM IST via Video Conferencing. The company has fixed Tuesday, September 8, 2026, as the cut-off date to determine shareholder voting eligibility. This is a routine administrative compliance filing with no operational or financial impact on current business performance.
- 15th Annual General Meeting scheduled for September 15, 2026, at 11:00 A.M. (IST)
- AGM to be conducted via Video Conferencing (VC) / Other Audio Visual Means (OAVM)
- Voting cut-off date fixed as Tuesday, September 8, 2026
Rajshree Polypack Limited (RPPL) reported its highest-ever quarterly revenue of ₹102.91 Cr in Q1 FY27, a 24.7% YoY increase. PAT surged 76.8% to ₹7.25 Cr, driven by improved product mix and operating efficiencies despite a 10% spike in raw material costs. The company expanded its flaring capacity to 1,675 lakh units and is targeting a revenue potential of ₹430 Cr from its existing setup. A 1.9 MW renewable energy project is expected to save ₹1.5-1.75 Cr annually starting October 2026.
- Record quarterly revenue of ₹102.91 Cr, up 24.72% YoY from ₹82.52 Cr
- PAT increased by 76.83% to ₹7.25 Cr with margins improving to 7.04% from 4.97%
- Injection Moulding capacity reached 5,800 MT, representing a 5.8x increase since FY23
- Renewable energy project (1.9 MW) to save ₹1.5-1.75 Cr annually from October 2026
- Management estimates current setup revenue potential at ₹420-430 Cr, vs TTM revenue of ₹332 Cr
Rajshree Polypack Limited (RPPL) has released the audio recording of its earnings conference call held on August 6, 2026, to discuss Q1 FY2026-27 results. The company reported a TTM revenue of Rs 332.18 Cr and a PAT of Rs 17.26 Cr for FY26, showing significant growth over FY25. Investors can access the recording to hear management's commentary on the Olive Ecopak JV, which targets Rs 140-150 Cr in revenue by FY27, and the progress of the new Odisha greenfield plant. The stock currently trades at a P/E of 10.9 with a market capitalization of Rs 188 Cr.
- Earnings conference call held on August 6, 2026, at 4:00 P.M. IST
- Audio recording link provided for public access to Q1 FY2026-27 results discussion
- TTM Revenue stands at Rs 332.18 Cr as of the latest annual filing
- Olive Ecopak JV targets a revenue contribution of Rs 140-150 Cr by FY27
- Company maintains an Operating Profit Margin (OPM) of 13.3% as per TTM data
Rajshree Polypack (RPPL) reported its highest-ever quarterly revenue of ₹102.91 Cr for Q1 FY27, marking a 24.7% YoY growth. Profitability showed significant improvement with PAT surging 76.8% YoY to ₹7.25 Cr, while EBITDA margins expanded to 16.05% from 14.64% in the previous year. The company successfully added 1,000 MT of injection moulding capacity during the quarter, reaching a total of 5,800 MT. Operational efficiency is expected to further improve with a 1.9 MW renewable energy project slated for October 2026 commissioning.
- Achieved record quarterly revenue of ₹102.91 Cr, up 24.71% YoY and 12.32% QoQ.
- PAT increased 76.83% YoY to ₹7.25 Cr, with PAT margins improving by 207 bps to 7.04%.
- Injection Moulding capacity reached 5,800 MT following a 1,000 MT addition in Q1 FY27.
- Sleeving capacity expanded from 1,275 lakh units to 1,675 lakh units per annum.
- Upcoming 1.9 MW wind-solar project expected to save ₹1.75 Cr annually from October 2026.
Rajshree Polypack (RPPL) reported a strong Q1 FY27 with revenue growing 24.7% YoY to Rs 102.91 Cr and PAT surging 76.8% to Rs 7.25 Cr. The growth is driven by a massive 5.8x expansion in injection moulding capacity since FY23 and a 30% increase in exports during FY26. The company is successfully diversifying into sustainable packaging via its Olive Ecopak JV, which contributed Rs 52.67 Cr in FY26. A new 1.9 MW renewable energy project is expected to save Rs 1.75 Cr annually starting October 2026.
- Highest-ever quarterly revenue of Rs 102.91 Cr in Q1 FY27, a 24.71% YoY increase
- Net profit (PAT) grew 76.83% YoY to Rs 7.25 Cr, with margins improving to 7.04% from 4.97%
- Injection moulding capacity scaled 5.8x to 5,800 MT in Q1 FY27 from 1,000 MT in FY23
- Export revenue reached Rs 70.08 Cr in FY26, representing approximately 21% of total revenue
- Planned 1.9 MW renewable energy project to meet 30% of energy needs and save Rs 1.75 Cr p.a. from Oct 2026
Rajshree Polypack Limited (RPPL) has approved the re-appointment of its promoter-founders, Mr. Ramswaroop Thard and Mr. Naresh Thard, for five-year terms starting in late 2026 and early 2027 respectively. This move ensures leadership continuity as the company targets a revenue ramp-up from its Olive Ecopak JV (INR 140-150 Cr target by FY27). Additionally, Ms. Shefali Mehto has been appointed as the new Company Secretary and Compliance Officer effective August 05, 2026. The company currently maintains a TTM revenue of Rs 332 Cr with a market capitalization of Rs 180 Cr.
- Re-appointment of Mr. Ramswaroop Thard as Managing Director for 5 years effective October 15, 2026
- Re-appointment of Mr. Naresh Thard as Joint Managing Director for 5 years effective February 01, 2027
- Appointment of Ms. Shefali Mehto as Company Secretary with over 3 years of professional experience
- Leadership continuity for a company with TTM PAT of Rs 17.26 Cr and OPM of 13.31%
- Management remains focused on the Odisha greenfield plant and US/UK market expansion
Rajshree Polypack Limited (RPPL) reported a robust start to FY27, with consolidated revenue growing 24.7% YoY to ₹102.91 Cr. Net profit surged 77.9% YoY to ₹7.26 Cr, up from ₹4.08 Cr in Q1 FY26, reflecting improved operational efficiency. The EPS for the quarter improved to ₹0.98 from ₹0.55 YoY. Notably, the company did not recognize its ₹86.95 lakh share of loss from the Olive Ecopak JV as the carrying amount of the investment has already been reduced to nil.
- Revenue from operations increased 24.7% YoY to ₹102.91 Cr from ₹82.52 Cr.
- Net profit for the quarter rose 77.9% YoY to ₹7.26 Cr.
- Earnings Per Share (EPS) increased to ₹0.98 from ₹0.55 in the year-ago period.
- Cost of materials consumed stood at ₹62.32 Cr, representing approximately 60.5% of total revenue.
- Share of loss from Jointly Controlled Entity (Olive Ecopak) was ₹86.95 lakhs, though not recognized in the P&L due to accounting standards.
Rajshree Polypack (RPPL) has scheduled its Q1 FY27 earnings conference call for August 06, 2026, at 4:00 PM IST. The call follows the announcement of unaudited financial results for the quarter ended June 30, 2026. Management, including the CMD and CFO, will discuss the company's performance and outlook. This follows a FY26 where the company reported a revenue of 332.19 Cr and a PAT of 17.26 Cr. Investors will likely seek updates on the Olive Ecopak JV and the Odisha greenfield plant progress.
- Earnings call scheduled for August 06, 2026, at 4:00 PM IST
- Discussion will focus on results for the quarter ended June 30, 2026
- Company reported TTM revenue of 332 Cr and PAT of 17 Cr
- Olive Ecopak JV targets a revenue of 140-150 Cr by FY27
Financial Performance
Revenue Growth by Segment
The company operates in a single primary segment: Rigid packaging products. Revenue grew 20.17% YoY to INR 329.74 Cr in FY25 from INR 274.39 Cr in FY24. H1 FY26 revenue showed a modest growth of 1.17% YoY reaching INR 168.94 Cr.
Geographic Revenue Split
Domestic sales contribute approximately 84-85% of total revenue. Export revenues contribute 15-16% of total sales in FY24 and FY25, a significant increase from 5.5% in FY23, with presence in Europe, UK, and planned expansion to the US.
Profitability Margins
Net Profit margin improved to 4.38% in FY25 from 3.35% in FY24. PAT grew 57.2% YoY to INR 14.46 Cr in FY25. Return on Equity (ROE) increased to 8.56% from 5.96% due to better profit margins.
EBITDA Margin
Overall EBITDA margin was 14.78% in H1 FY26. The company targets an EBITDA margin of 15-16% as it scales revenue by an additional INR 30-40 Cr and ramps up its JV operations.
Capital Expenditure
The company is undertaking debt-funded capital expenditure for newly installed facilities and a planned greenfield plant in Odisha. Debt-Equity ratio increased 29.38% to 0.62 in FY25 due to capex borrowings.
Credit Rating & Borrowing
CRISIL Ratings maintains a 'Stable' outlook. Interest coverage ratio is adequate at 4.85 times. Bank limit utilization averaged 69% through March 2025.
Operational Drivers
Raw Materials
Plastic raw materials and granules (resins) represent the primary input cost. Specific polymer types are not listed but are integral to rigid sheet and thermoformed container production.
Capacity Expansion
Current manufacturing units are in Daman and Sarigam. Planned expansion includes a greenfield plant in Odisha and the Olive Ecopak JV which has a full-scale revenue capacity of INR 200-215 Cr.
Raw Material Costs
Raw material price volatility is a key risk. Strategy includes backward integration and centralized procurement to leverage scale and achieve better bargaining power with suppliers.
Manufacturing Efficiency
Return on Capital Employed (ROCE) increased from 11.40% in FY24 to 13.82% in FY25, driven by improved asset utilization and higher operating leverage.
Strategic Growth
Expected Growth Rate
8-10%
Growth Strategy
Growth will be achieved through the ramp-up of the Olive Ecopak JV (targeting INR 140-150 Cr revenue by FY27), entry into the US and UK markets, and the commissioning of a new greenfield plant in Odisha.
Products & Services
Rigid plastic sheets, thermoformed packaging containers, cups, bowls, punnets, lids, trays, and injection-molded (IML) products.
New Products/Services
Sustainable and eco-friendly packaging through the Olive Ecopak JV and value-added injection-molded products with expected higher margins.
Market Expansion
Expanding geographical presence to the US and UK markets to de-risk the business and increase export contribution.
Strategic Alliances
Joint Venture with Olive Ecopak Private Limited for sustainable packaging solutions.
External Factors
Industry Trends
The industry is shifting toward sustainable, bio-based materials and advanced recycling. RPPL is positioning itself through the Olive Ecopak JV to meet increasing regulatory and consumer demand for eco-friendly packaging.
Competitive Landscape
Highly fragmented industry with intense competition from various players, including large firms like Huhtamaki and Amcor Flexibles.
Competitive Moat
Moat is built on 20 years of promoter experience, long-standing relationships with blue-chip clients, and a diversified product profile catering to multiple end-user industries.
Macro Economic Sensitivity
Sensitive to global economic slowdowns and trade disputes which can reduce demand in packaging-intensive industries like FMCG and Food & Beverages.
Consumer Behavior
Increasing consumer preference for health-conscious and eco-friendly products is driving the shift away from traditional plastic usage.
Geopolitical Risks
Geopolitical conflicts are cited as risks that can disrupt raw material supply chains and affect production schedules.
Regulatory & Governance
Industry Regulations
Exposed to regulatory risks including potential imposition of discriminatory taxes on plastic and frequent changes in environmental compliance standards.
Environmental Compliance
The company proactively engages with stakeholders to develop sustainable packaging to comply with stringent environmental standards and plastic waste recovery requirements.
Legal Contingencies
No reportable material weaknesses in design or operations of internal controls were observed during testing for FY25.
Risk Analysis
Key Uncertainties
Volatility in raw material prices and rapid technological shifts in bio-based materials could impact profitability by up to 10% if revenue declines steeply.
Geographic Concentration Risk
Approximately 84-85% of revenue is concentrated in the Indian market.
Third Party Dependencies
High dependency on strategic relationships with key clients; termination of agreements could adversely affect profitability.
Technology Obsolescence Risk
Failure to integrate breakthroughs in automation or bio-based materials risks losing market share to more agile competitors.
Credit & Counterparty Risk
Receivables quality is supported by a reputable and established customer base, though specific credit exposure figures are not disclosed.
