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Pyramid Technoplast Q3 FY26: Revenue Up 5%, PAT Drops 29% Amid Capacity Expansion
Pyramid Technoplast reported a 5% YoY increase in Q3 FY26 revenue to ₹162 crore, while 9M FY26 revenue rose 16% to ₹486 crore. Net profit (PAT) declined significantly by 29% YoY to ₹4.8 crore, impacted by higher interest, depreciation from new facilities, and a ₹1 crore one-time Diwali bonus. The company has successfully increased its total capacity to 75,856 MTPA and expects its new solar and recycling plants to drive margin expansion in the coming quarters. Management targets 75% capacity utilization for the next financial year with a revenue goal of approximately ₹670 crore for FY26.
Key Highlights
Total installed capacity increased to 75,856 MTPA from 62,887 MTPA following the Wada plant ramp-up.
IBC segment delivered strong performance with 37% volume growth and 27% revenue growth YoY.
Newly commissioned 14.25 MW solar project expected to reduce annual power costs by ₹15 crore.
PAT fell to ₹4.8 crore due to ₹1 crore bonus payout and increased finance/depreciation costs of ~₹1.2 crore.
Recycling plant (5,000 MTPA) commissioned to meet 10-12% of raw material needs and reduce costs by 10%.
💼 Action for Investors
Investors should monitor the margin recovery in Q4 FY26 as the cost-saving benefits from solar and recycling plants begin to reflect in the financials. The transition from a high-capex phase to operational scaling makes the next two quarters critical for validating the company's profitability targets.
Pyramid Technoplast Q3 Revenue Up 5% to ₹162 Cr; Volume Surges 22% Amid Capacity Expansion
Pyramid Technoplast reported a 5% YoY revenue growth to ₹162 Cr in Q3FY26, supported by a robust 22% increase in total sales volumes. Despite the volume growth, PAT declined by 29.3% YoY to ₹4.8 Cr as the company absorbed higher fixed costs and employee expenses related to newly commissioned facilities. The company is successfully shifting its product mix toward high-margin Intermediate Bulk Containers (IBCs), which now account for 38% of revenue. Strategic cost-saving measures, including a 14.25 MW solar project and a new recycling plant, are expected to significantly improve operating leverage in coming quarters.
Key Highlights
Total sales volume grew 22% YoY in Q3FY26, led by a 37% surge in IBC volumes and 16% growth in HDPE drums.
Revenue share from value-added IBC products increased to 38% in Q3FY26 compared to 31% in the previous year.
Commissioned a 14.25 MW solar power capacity and a recycling plant, targeting ₹15 Cr in annual power savings.
Q3FY26 PAT fell 29.3% YoY to ₹4.8 Cr due to initial stabilization costs of the Wada plant and a temporary employee bonus impact.
Overall capacity utilization stands at 67.2%, with the new Wada plant expected to reach 80% utilization by FY27.
💼 Action for Investors
Investors should monitor the utilization ramp-up at the Wada facility and the realization of cost benefits from the solar and recycling plants to offset current margin pressure. The long-term outlook remains positive due to the shift toward high-margin IBCs and aggressive cost-reduction initiatives.
Pyramid Technoplast Q3 Net Profit Drops 30% YoY to ₹4.74 Cr; Appoints New Company Secretary
Pyramid Technoplast reported a 5.3% YoY increase in revenue to ₹161.49 crore for Q3 FY26, but net profit declined significantly by 30.2% YoY to ₹4.74 crore. The margin compression is primarily due to rising operational costs, with other expenses jumping to ₹24.69 crore from ₹18.37 crore a year ago. For the nine-month period ending December 2025, net profit stands at ₹18.80 crore compared to ₹20.06 crore in the previous year. Additionally, the company has appointed Pramod Yadav as the new Company Secretary and Compliance Officer effective February 10, 2026.
Key Highlights
Revenue from operations grew 5.3% YoY to ₹161.49 crore in Q3 FY26 compared to ₹153.35 crore in Q3 FY25.
Net profit for the quarter fell 30.2% YoY to ₹4.74 crore from ₹6.79 crore in the same period last year.
Total expenses increased to ₹155.77 crore, driven by a 34% increase in other expenses and higher depreciation costs.
Earnings Per Share (EPS) declined to ₹1.30 for the quarter from ₹1.85 in the year-ago period.
Pramod Yadav, with nearly a decade of experience, appointed as Company Secretary and Compliance Officer.
💼 Action for Investors
Investors should be cautious as rising operational expenses are severely eroding margins despite steady revenue growth. Monitor the company's ability to pass on costs or optimize operations in the coming quarters to restore profitability.
Pyramid Technoplast Q3 PAT Drops 30% YoY to ₹4.74 Cr Despite 5% Revenue Growth
Pyramid Technoplast reported a 5.3% YoY increase in revenue to ₹161.49 crore for the quarter ended December 31, 2025. However, net profit declined significantly by 30.2% YoY to ₹4.74 crore, primarily due to higher finance costs and increased other operating expenses. On a sequential basis, profit fell 23% from ₹6.15 crore in the previous quarter. The company also announced the appointment of Mr. Pramod Yadav as the new Company Secretary and Compliance Officer.
Key Highlights
Revenue from operations grew 5.3% YoY to ₹161.49 crore in Q3 FY26.
Net Profit (PAT) fell 30.2% YoY to ₹4.74 crore from ₹6.79 crore in the year-ago period.
Finance costs surged over 200% to ₹2.40 crore compared to ₹0.74 crore in Q3 FY25.
9-month PAT for FY26 stands at ₹18.80 crore, a 6.3% decline from ₹20.06 crore in 9M FY25.
Earnings Per Share (EPS) for the quarter decreased to ₹1.30 from ₹1.85 YoY.
💼 Action for Investors
Investors should exercise caution as rising finance and operational costs are significantly eroding profitability despite steady revenue growth. It is advisable to monitor the company's debt levels and margin recovery plans in the coming quarters.
Pyramid Technoplast Operationalizes 13.25 MW Solar Capacity Across Gujarat and Maharashtra
Pyramid Technoplast has successfully commissioned 2.25 MW of captive solar power in Maharashtra and 11 MW in Gujarat. The company clarified its total planned capacity in Gujarat is 12 MW, correcting a previous reporting error of 13 MW. Currently, 13.25 MW of total solar capacity is operational across both states, with 1 MW still pending in Gujarat. This initiative is part of a phased implementation aimed at significantly reducing energy costs and improving long-term operational margins.
Key Highlights
Fully commenced operations for 2.25 MW captive solar capacity in Maharashtra
Operationalized 11 MW of solar power in Gujarat, consisting of 6 MW and 5 MW phases
Clarified total planned Gujarat solar capacity as 12 MW, correcting a previous 13 MW estimate
Remaining 1 MW capacity in Gujarat is currently under process for requisite approvals
Project aimed at optimizing energy costs and strengthening commitment to renewable energy
💼 Action for Investors
Investors should view this as a margin-accretive development that will lower power expenses over time. Monitor upcoming quarterly earnings to see the impact of reduced energy costs on EBITDA margins.