💰 Financial Performance

Revenue Growth by Segment

Total income grew 22.57% YoY to INR 57.258 Cr in FY25. H1 FY26 total income reached INR 38.81 Cr, a 14.2% increase over H1 FY25. Growth is driven by the automotive segment, which management describes as the current 'flavor', while industrial and mold segments are expected to contribute higher turnover in FY26.

Geographic Revenue Split

Not explicitly disclosed by region, but operations are concentrated in Maharashtra with facilities in Vasai and Thane (Virar City).

Profitability Margins

Net profit margin improved by 115 basis points to 11.27% in FY25 compared to 10.22% in FY24. Gross margins are influenced by raw material costs which stood at 64.6% of revenue in FY25.

EBITDA Margin

EBITDA margin was 21.67% in FY25 (INR 12.4 Cr), a slight contraction from 21.98% in FY24 (INR 10.27 Cr), despite a 20.81% growth in absolute EBITDA value.

Capital Expenditure

The company allocated INR 16.55 Cr from IPO proceeds for the expansion of existing manufacturing facilities. In H1 FY26, additions to fixed assets totaled INR 3.46 Cr.

Credit Rating & Borrowing

Finance costs were INR 1.54 Cr in FY25, representing 2.7% of total income. Total long-term borrowings stood at INR 2.45 Cr as of September 30, 2025.

⚙️ Operational Drivers

Raw Materials

Plastic resins and granules (implied by plastic component manufacturing) represent the primary input, with total raw material expenses of INR 37.01 Cr in FY25, accounting for 64.6% of total revenue.

Import Sources

Not specifically disclosed in the documents.

Key Suppliers

Not specifically named in the documents.

Capacity Expansion

Current capacity not disclosed in MT; however, the company is utilizing INR 16.55 Cr for facility expansion and upgrades to meet growing demand in EV and solar segments.

Raw Material Costs

Raw material costs increased 21.2% YoY to INR 37.01 Cr in FY25, tracking closely with the 22.57% revenue growth, indicating stable procurement pricing relative to sales.

Manufacturing Efficiency

The company maintains IATF 16949 and ISO 9001/14001 certifications to ensure quality standards and operational discipline.

Logistics & Distribution

Not explicitly disclosed as a percentage of revenue.

📈 Strategic Growth

Expected Growth Rate

22-25%

Growth Strategy

Growth will be achieved through a three-pronged strategy: increasing manufacturing capacity via new plants and facility upgrades, diversifying the product portfolio into high-growth areas like EV components and solar connectors, and expanding the client base beyond traditional commercial vehicle OEMs.

Products & Services

High-precision plastic parts for commercial vehicles, automotive molds, bushings, solar connectors, and EV-related components.

Brand Portfolio

Premium Plast.

New Products/Services

Solar connectors and EV components are the primary new launches, with management expecting significant growth contributions from these segments starting in FY26 and scaling in FY27.

Market Expansion

Expansion is focused on increasing geographic reach through new manufacturing facilities and tapping into new industrial segments beyond automotive.

Market Share & Ranking

Not disclosed.

Strategic Alliances

Not disclosed in the documents.

🌍 External Factors

Industry Trends

The industry is shifting toward electric vehicles and renewable energy components. Premium Plast is positioning itself by developing solar connectors and EV parts to capture this transition.

Competitive Landscape

Operates in a competitive landscape of automotive plastic component manufacturers, differentiating through high-precision and value-added components.

Competitive Moat

Moat is built on Tier-1 OEM relationships, IATF 16949 quality certifications, and specialized expertise in complex mold manufacturing, which creates high switching costs for customers.

Macro Economic Sensitivity

Highly sensitive to the Indian automotive sector's growth and GDP-linked commercial vehicle demand.

Consumer Behavior

Shift toward sustainable practices and EV adoption is driving the company's R&D and product diversification.

Geopolitical Risks

Not explicitly detailed, though raw material price volatility (linked to global oil/petrochemical prices) remains a factor.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with IATF 16949 (Automotive Quality Management System) and standard manufacturing safety and pollution norms.

Environmental Compliance

Maintains ISO 14001 certification for environmental management systems.

Taxation Policy Impact

Effective tax rate for FY25 was approximately 25% (INR 2.17 Cr tax on INR 8.62 Cr PBT).

Legal Contingencies

No pending material court cases or legal disputes were disclosed in the provided financial reports.

⚠️ Risk Analysis

Key Uncertainties

High working capital intensity due to inventory levels (33% of revenue) and potential cyclicality in the commercial vehicle segment.

Geographic Concentration Risk

Manufacturing is concentrated in the Thane/Vasai region of Maharashtra.

Third Party Dependencies

High dependency on a limited number of large automotive OEMs for the majority of revenue.

Technology Obsolescence Risk

Risk of traditional plastic parts being replaced by alternative materials, mitigated by expansion into EV-specific components.

Credit & Counterparty Risk

Trade receivables stood at INR 15.41 Cr as of September 30, 2025, representing approximately 20% of annualized revenue, indicating moderate credit risk.