🔍

Xpro India Limited (XPROINDIA)

₹977.50 -0.49% last close, 16 Oct

📊 NSE: XPROINDIA 🏢 Packaging 📢 Latest filing: 06 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Xpro India's revenue was ₹174 Cr (+20.4% year on year, +30.2% on the previous quarter), and net profit ₹7.6 Cr (against a loss a year earlier); the operating margin was 9.1%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹174	+20.4%	+30.2%
Operating profit	₹15.8	from loss	-1.0%
Net profit	₹7.6	from loss	-41.3%
EPS (₹)	3.38	from loss	-38.9%
Operating margin	9.1%	—	—

Full quarterly financials → Results calendar →

XPROINDIA delivery percentage

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

On Fri, 16 Oct 2026, 61.45% of the XPROINDIA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 57.03%. That is close to its usual level.

61.45%Delivery, 16 Oct

57.03%Own 20-session average

1.3×Volume vs its average

₹977.50NSE close · -0.49%

Delivery in the last 5 sessions: 62.0% · 69.2% · 66.0% · 68.2% · 61.5%

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

Xpro India Submits Reg 74(5) Demat Compliance Certificate for Q2 Ended September 30, 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Oct 2026, 11:26 AM

Xpro India 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 Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 5, 2026, confirms that securities received for dematerialisation were processed and confirmed within prescribed timelines. Furthermore, all physical certificates were verified, cancelled, and listed on the respective stock exchanges. This is a standard quarterly administrative filing with no financial or operational impact.

Compliance certificate submitted under Regulation 74(5) for the quarter ended September 30, 2026
Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited on October 5, 2026
Filing made with the exchanges on October 6, 2026

💡 Track upcoming announcements regarding the company's Q2 FY27 financial results and board meeting schedule.

Xpro India Clarifies on Volume Spurt; Confirms No Undisclosed Material Information

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 02 Sep 2026, 09:26 PM

Xpro India Limited submitted a clarification to the National Stock Exchange of India on September 2, 2026, in response to a query regarding significant increase in trading volumes across exchanges. The company confirmed that all material and price-sensitive information has been disclosed in compliance with Regulation 30 of SEBI Listing Regulations. Management further affirmed that it is unaware of any impending announcement or undisclosed event that would impact the trading volume or price behavior of the scrip.

Clarification submitted to NSE and BSE on September 2, 2026 regarding trading volume spurt.
Company confirmed timely disclosure of all material events under Regulation 30 of SEBI LODR Regulations.
Management stated it is not aware of any impending or undisclosed price-sensitive information.

💡 Track standard quarterly earnings and formal corporate filings; volume spurts unaccompanied by fundamental disclosures typically indicate market-driven trading activity.

Xpro India Schedules Institutional Investor Meeting on September 4, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Aug 2026, 06:09 PM

Xpro India Limited has informed the exchanges that its management will participate in a group meeting with investors and fund houses on Friday, September 4, 2026. The company affirmed that discussions will be limited to publicly available documents without sharing unpublished price-sensitive information. The schedule remains subject to changes due to exigencies from either party.

Group investor/fund house meeting scheduled for September 4, 2026
Filing submitted under Regulation 30 on August 29, 2026
Interaction strictly restricted to publicly available information

💡 Track subsequent exchange filings for any institutional presentation uploads or meeting transcripts if made available.

Xpro India Submits Minutes of 29th Annual General Meeting Held on July 20, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 11 Aug 2026, 01:35 PM

Xpro India Limited has submitted the formal minutes of its 29th Annual General Meeting (AGM) held on July 20, 2026, to the stock exchanges. This is a routine regulatory filing under SEBI (LODR) Regulations. The company, which operates in the packaging industry with a TTM revenue of ₹505 Cr, is currently focused on capacity expansions at its Barjora unit and a new project in Ras Al Khaimah, UAE. Despite a high P/E ratio of 139.2, the company maintains a low debt-to-equity ratio of 0.17.

29th Annual General Meeting was successfully conducted on July 20, 2026
Regulatory filing submitted to NSE and BSE on August 11, 2026
Company maintains a market capitalization of ₹2,713 Cr as of the reporting period
TTM Revenue stands at ₹505 Cr with an Operating Profit Margin of 6.3%

💡 Investors should focus on upcoming quarterly results to track the execution of the Barjora unit expansion and the progress of the UAE subsidiary, which are the primary growth drivers.

127.9% PAT Growth in Q1 FY27; Revenue up 20.4% to ₹174.4 Cr on Capacity Ramp-up

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 01 Aug 2026, 03:40 PM

Xpro India reported a strong Q1 FY27 with revenue growing 20.4% YoY to ₹174.4 Cr, significantly outpacing its TTM average. Net profit surged 127.9% YoY to ₹9.8 Cr, benefiting from a low base and market share gains in the refrigerator segment where it achieved 9% volume growth versus the 4% industry average. While EBITDA margins dipped to 8.8% from 9.9% due to higher input costs and expansion-related expenses, the doubling of dielectric film capacity to 8,000 MT at Barjora provides a clear growth runway.

Revenue grew 20.4% YoY to ₹174.4 Cr, representing approximately 34.5% of total FY26 revenue in a single quarter.
Net Profit (PAT) increased 127.9% YoY to ₹9.8 Cr compared to ₹4.3 Cr in the same quarter last year.
Dielectric film capacity doubled from 4,000 MT to 8,000 MT following the Barjora line commissioning on March 27, 2026.
Achieved 9% volume growth in refrigerator sheets, more than double the industry growth rate of 4%.
EBITDA margins compressed to 8.8% from 9.9% YoY, impacted by higher polymer prices and pre-operating costs.

💡 Watch for the stabilization of EBITDA margins as the new Barjora capacity ramps up and monitor the resolution of shipping delays for the UAE project caused by regional conflict.

Xpro India Q1 FY27 Net Profit Jumps 127% YoY to ₹9.79 Cr on 20% Revenue Growth

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 31 Jul 2026, 03:43 PM

Xpro India reported a strong start to FY27 with standalone revenue growing 20.4% YoY to ₹174.42 Cr. Standalone Net Profit surged 127.7% YoY to ₹9.79 Cr, a significant recovery from ₹4.30 Cr in the year-ago period. The consolidated performance turned positive at the PBT level, reaching ₹11.56 Cr compared to a loss of ₹3.75 Cr in Q1 FY26. The company continues to hold ₹73.26 Cr in unutilized warrant proceeds, earmarked for its ongoing expansion projects.

Standalone Revenue from operations increased 20.4% YoY to ₹174.42 Cr from ₹144.90 Cr.
Standalone Net Profit grew 127.7% YoY to ₹9.79 Cr, with EPS rising to ₹4.17 from ₹1.93.
Consolidated PBT turned around to a profit of ₹11.56 Cr vs a loss of ₹3.75 Cr in Q1 FY26.
Outside India segment losses narrowed significantly to ₹0.38 Cr from ₹9.39 Cr in the previous year's quarter.
Unutilized cash of ₹73.26 Cr from warrant conversion remains in bank deposits for future deployment.

💡 Investors should monitor the timeline for the utilization of the ₹73.26 Cr cash reserve for the Barjora and UAE expansion projects, as these are critical for long-term margin expansion.

Xpro India Submits Voting Results for 7 Resolutions Following 29th AGM

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 20 Jul 2026, 06:27 PM

Xpro India Limited has disclosed the voting results and Scrutinizer's report for its 29th Annual General Meeting (AGM) held on July 20, 2026. Shareholders voted on a total of 7 resolutions through remote e-voting and e-voting at the meeting. The remote e-voting period was conducted between July 17 and July 19, 2026. This filing is a standard regulatory requirement under SEBI (LODR) Regulations to confirm shareholder approval of annual corporate actions.

29th Annual General Meeting successfully conducted on July 20, 2026
Shareholders voted on 7 distinct resolutions as per the May 20, 2026 notice
Remote e-voting facility was provided for 3 days from July 17 to July 19, 2026
Compliance filing submitted under Regulation 44(3) of SEBI LODR Regulations

💡 Investors should monitor the detailed Scrutinizer's report for any significant minority shareholder dissent on specific resolutions, though such filings are typically routine for the company.

Xpro India Concludes 29th AGM; Shareholders Vote on 7 Resolutions

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 20 Jul 2026, 06:20 PM

Xpro India Limited held its 29th Annual General Meeting (AGM) on July 20, 2026. Shareholders voted on seven resolutions through remote e-voting (July 17-19) and e-voting during the meeting. This is a routine administrative filing confirming the completion of the annual shareholder meeting process. The company continues to focus on its capacity expansions at Barjora and the Ras Al Khaimah project in the UAE to drive growth beyond its current TTM revenue of Rs 505 Cr.

29th Annual General Meeting successfully conducted on July 20, 2026
Remote e-voting was available to shareholders from July 17 to July 19, 2026
A total of 7 resolutions were presented for shareholder approval as per the May 20 notice
Company maintains a TTM revenue of Rs 505 Cr with a high P/E ratio of 171.2

💡 Review the detailed Scrutinizer's Report (when available) to check for any significant shareholder dissent on specific resolutions, particularly those related to director appointments or special business.

Xpro India Submits Quarterly Compliance Certificate for Dematerialization (June 30, 2026)

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jul 2026, 04:15 PM

Xpro India Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MUFG Intime India Private Limited, confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed within prescribed timelines. It further verifies that the certificates were mutilated and cancelled after due verification. This is a standard procedural filing required by all listed companies in India.

Quarterly compliance period ended on June 30, 2026
Confirmation provided by Registrar and Share Transfer Agent, MUFG Intime India Private Limited
Verification that dematerialized securities are listed on the stock exchanges
Confirmation that security certificates were mutilated and cancelled within prescribed timelines

💡 No action is required as this is a routine administrative filing. Investors should monitor the company's upcoming quarterly financial results for operational updates.

Xpro India Promoters Confirm Zero Share Encumbrance for FY Ended March 31, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 03 Jul 2026, 04:42 PM

Intellipro Finance Private Limited, representing the promoter group of Xpro India Limited, has filed an annual declaration under SEBI Takeover Regulations. The filing confirms that the promoters and Persons Acting in Concert (PAC) did not encumber or pledge any equity shares during the financial year ended March 31, 2026. This disclosure covers 14 entities and individuals within the promoter group, including members of the Birla family and associated investment companies. Such filings are standard annual requirements to ensure transparency regarding promoter share pledging.

Confirmation of zero (0) encumbrances on promoter shares for the full financial year ended March 31, 2026
Disclosure submitted by Intellipro Finance Private Limited on behalf of 14 promoter group entities and individuals
Compliance maintained under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011
The declaration covers the entire holding of the promoter group as of the financial year-end

💡 No action is required as this is a routine compliance filing. Investors should continue to monitor quarterly shareholding patterns for any changes in promoter stake or future pledge activity.

Xpro India to Close Trading Window from July 1 for Q1 FY27 Financial Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Jun 2026, 04:58 PM

Xpro India Limited has announced the closure of its trading window starting July 1, 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 June 30, 2026. The window will remain closed until 48 hours after the results are officially announced to the exchanges. This is a standard regulatory procedure to prevent insider trading during the period when financial performance is being finalized.

Trading window closure begins on July 1, 2026.
Closure is in relation to the unaudited financial results for the quarter ending June 30, 2026.
The window will reopen 48 hours after the financial results are declared.
Applies to all Designated Persons and their immediate relatives as per SEBI regulations.

💡 No immediate action is required as this is a routine regulatory filing. Investors should monitor the company's future announcements for the specific date of the board meeting where Q1 results will be approved.

Xpro India to Hold 29th AGM on July 20, 2026; Releases FY26 Annual Report Link

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 23 Jun 2026, 03:45 PM

Xpro India Limited has scheduled its 29th Annual General Meeting (AGM) for July 20, 2026, to be conducted via video conferencing. In compliance with SEBI regulations, the company has issued notices to shareholders whose email addresses are not registered, providing them with the web link to access the Annual Report for the Financial Year 2025-26. The cut-off date for identifying these shareholders was June 19, 2026. The company also emphasized the mandatory requirement for physical shareholders to update KYC details, including PAN and bank accounts, to remain eligible for dividend payments.

29th Annual General Meeting (AGM) scheduled for July 20, 2026, at 10:30 AM IST.
Annual Report for FY 2025-26 is now accessible via the company's official website and a dedicated link.
Cut-off date for identifying shareholders without registered email addresses was June 19, 2026.
Mandatory KYC update reminder issued for physical security holders to ensure receipt of dividends and electronic payments.
Shareholders encouraged to dematerialize physical securities and register email IDs for the Green Initiative.

💡 Shareholders should download and review the FY 2025-26 Annual Report to assess the company's performance and ensure their KYC and email details are updated with the RTA to avoid payment disruptions.

Xpro India Proposes INR 2 Dividend and Appoints Girish Behal as MD Effective January 2027

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 23 Jun 2026, 02:53 PM

Xpro India Limited has scheduled its 29th Annual General Meeting for July 20, 2026, where it will seek shareholder approval for a dividend of INR 2.00 per share. A significant leadership transition is planned, with Sri Girish Behal appointed as Managing Director for a three-year term starting January 1, 2027, at a remuneration of up to INR 330 lacs per annum. The company also proposes re-appointing Ms. Suhana Murshed as an Independent Director for a second five-year term and setting a cap of INR 1.25 crore on total commissions for non-executive directors.

Proposed dividend of INR 2.00 per equity share (20% on face value of INR 10) for FY 2025-26.
Appointment of Sri Girish Behal as Managing Director for 3 years starting January 1, 2027.
MD remuneration capped at 5% of net profits or INR 330 lacs per annum, with a minimum of INR 27.50 lakhs per month in case of inadequate profits.
Re-appointment of Ms. Suhana Murshed as Independent Director for a second term until July 2031.
Proposed commission for non-executive directors capped at 1% of net profits or an aggregate of INR 1.25 crore annually.

💡 Investors should monitor the upcoming AGM for confirmation of the dividend and the leadership transition. The clear succession plan for the Managing Director role provides long-term management stability.

Xpro India Announces INR 2 Per Share Dividend and Tax Deduction Guidelines for FY26

🟡 NEUTRAL ⭐ 4/10

DIVIDEND 📅 17 Jun 2026, 10:25 PM

Xpro India Limited has recommended a dividend of 20%, amounting to INR 2 per equity share of INR 10 each, for the financial year ended March 31, 2026. The company has issued detailed instructions regarding Tax Deducted at Source (TDS) for various shareholder categories. Resident individuals with a valid PAN will be subject to 10% TDS, while those without a valid PAN will face a 20% deduction. Notably, no TDS will be deducted for resident individuals if the total dividend received during the tax year does not exceed INR 10,000.

Recommended dividend of INR 2 per equity share (20% of face value) for the financial year 2025-26.
Standard TDS rate of 10% for resident shareholders with a registered PAN and 20% for those without.
Exemption from TDS for resident individuals if the total dividend for the year is INR 10,000 or less.
Non-resident shareholders may avail of lower Tax Treaty rates by submitting a Tax Residency Certificate (TRC) and other required documents.
The deadline for submitting tax-related documents to the RTA (MUFG Intime India) is July 13, 2026.

💡 Shareholders should verify that their PAN and bank account details are correctly updated with their Depository Participant or the RTA to ensure accurate tax deduction and timely credit. Eligible individuals should submit Form 15G/15H by July 13, 2026, to claim TDS exemptions.

Xpro India Clarifies No Undisclosed Information Behind Recent Trading Volume Spurt

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 16 Jun 2026, 09:45 PM

Xpro India Limited responded to a clarification request from the National Stock Exchange on June 16, 2026, regarding a significant increase in trading volume. The company stated that all material information under SEBI Regulation 30 has been disclosed in a timely and accurate manner. Management confirmed they are unaware of any impending announcements or undisclosed price-sensitive information that could impact the stock's behavior. This suggests the recent volume surge is likely driven by market sentiment rather than specific internal corporate developments.

NSE sought clarification from Xpro India on June 16, 2026, regarding high trading volumes across exchanges.
Company confirms full compliance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Management states no price-sensitive information remains undisclosed to the market as of the reporting date.
The response indicates that the volume spurt is not linked to any known internal corporate action or impending announcement.

💡 Investors should treat the recent volume spurt as market-driven and focus on the company's fundamental performance rather than speculative movements. No immediate action is required as the company has denied any undisclosed material developments.

View All XPROINDIA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The Coex division grew 32% YoY to INR 118.9 Cr in Q4 FY25, while the Biax division remained flat at INR 39.33 Cr. For the full year FY25, standalone revenue reached INR 535.5 Cr, a 15% increase YoY.

Geographic Revenue Split

Domestic sales dominate the mix, while total exports amounted to INR 14.20 Cr in FY25, representing approximately 2.6% of total standalone revenue.

Profitability Margins

Standalone Gross Profit margin for FY25 was 28.5% compared to 32.2% in FY24. Standalone Net Profit (PAT) margin for FY25 was 8.1%, down from 9.4% in FY24, impacted by product mix shifts and higher pre-operational expenses.

EBITDA Margin

Standalone EBITDA margin for FY25 was 9.9%, down from 10.6% in FY24. The Q4 FY25 EBITDA margin was 8.5%, a decline from 12.7% in Q4 FY24, primarily due to the higher growth of the lower-margin Coex business.

Capital Expenditure

The company holds fixed deposits of approximately INR 180 Cr to fund capital projects. Additionally, the UAE subsidiary (XDF) is raising AED 33.08 million (approx. INR 75 Cr) from OASIS II Investment Holding Limited to support growth.

Credit Rating & Borrowing

The company utilized a supplier credit in the nature of an ECB for the new Barjora line, increasing long-term debt by INR 110 Cr to achieve interest savings. Net debt to equity stood at 0.19x in FY25.

⚙️ Operational Drivers

Raw Materials

Polymers and resins (implied by Coex and Biax film production) are the primary raw materials, with costs for materials consumed reaching INR 386.5 Cr in FY25, representing 72% of revenue.

Capacity Expansion

Current sales volume is 33,002 MT (up 19.3% YoY). Expansion includes a new unit at Barjora currently undergoing sequential testing and a steady project progression in Ras Al Khaimah, UAE.

Raw Material Costs

Raw material costs increased to INR 386.5 Cr in FY25 from INR 317.2 Cr in FY24, a 21.8% increase. Procurement is managed through inventory tracking and vendor development to mitigate price fluctuations.

Manufacturing Efficiency

The company delivered a Return on Capital Employed (RoCE) of 8.33% and a Return on Equity (RoE) of 7.44% on expanded capital in FY25.

📈 Strategic Growth

Expected Growth Rate

15%

Growth Strategy

Growth is driven by capacity expansion at the Barjora unit and the Ras Al Khaimah project. The company is also integrating acquired production lines from other operators to optimize capacity balancing.

Products & Services

Coex sheets and liners for refrigerators, Biax films, and Dielectric films for capacitors.

Brand Portfolio

Xpro India.

New Products/Services

Expansion into high-end Dielectric films via the UAE subsidiary and the new Barjora line is expected to contribute significantly to future high-margin revenue.

Market Expansion

Expansion into the Middle East via the Xpro Dielectric Films FZ-LLC subsidiary in Ras Al Khaimah, UAE, which is categorized as a material subsidiary.

Strategic Alliances

Tripartite agreement with OASIS II Investment Holding Limited for an equity issue in the UAE subsidiary to raise AED 33.08 million.

🌍 External Factors

Industry Trends

The industry is seeing steady domestic recovery driven by consumption. Xpro is positioning itself for future growth through capacity build-up in specialized dielectric films for the electronics and power sectors.

Competitive Landscape

The business is described as 'highly competitive,' particularly in the Coex segment, requiring strategic pricing to maintain volume growth.

Competitive Moat

Moat is based on 'premium' quality and service ratings from customers and a strong market position in the Coex business, which saw 32% revenue growth.

Macro Economic Sensitivity

The company is sensitive to India's GDP growth, which was over 6% in FY25, and consumption trends that drive demand for appliances like refrigerators.

Consumer Behavior

Resilient domestic consumption is driving consistent demand for Coex products used in consumer durables.

Geopolitical Risks

Geopolitical tensions are cited as a factor impacting supply chain stability and input cost volatility.

⚖️ Regulatory & Governance

Industry Regulations

The company complies with SEBI Listing Obligations and Disclosure Requirements (LODR) and has established a Whistle Blower mechanism and risk management framework.