Platinum Industries Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Platinum Industries Ltd filed with BSE on 16 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Platinum Industries reported consolidated Q4 FY26 revenue of Rs 132 crore, up 37% year-on-year, with EBITDA growing 95% to Rs 15.3 crore and PAT rising 164% to Rs 14.8 crore. Full year FY26 consolidated revenue stood at Rs 450 crore, up 15%, while EBITDA and PAT grew 4.2% and 3.7% respectively. Management discussed progress on the new Egypt manufacturing facility, growth in the CPVC business, and the recent entry into oleo chemicals.
2 statements from this call are not shown because their supporting quotes could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue from operations (consolidated): INR 132 crores (Q4 FY26)
p. 3
“On a consolidated basis, revenue from operations stood at INR 132 crores, reflecting a year-onyear growth of 37%.”
Krishna Rana, page 3 of the filed PDF · View the filing
EBITDA (consolidated): INR 15.3 cr. (Q4 FY26)
p. 5
“EBITDA for the quarter stood at INR 15.3 cr. representing a growth of 95% on y-o-y basis.”
Ashok Bothra, page 5 of the filed PDF · View the filing
EBITDA margin (consolidated): 11.6% (Q4 FY26)
p. 5
“EBITDA margins were at 11.6%, up by 350bps on y-o-y basis.”
Ashok Bothra, page 5 of the filed PDF · View the filing
PAT (consolidated): INR 14.8 crore (Q4 FY26)
p. 5
“PAT came at INR 14.8 crore reflecting a year-onyear growth of 164% while PAT margins stood at 11.24%, up by 543 bps on y-o-y basis.”
Ashok Bothra, page 5 of the filed PDF · View the filing
Revenue from operations (consolidated): INR 450 cr. (FY26)
p. 5
“For full year FY26 key highlights on consolidated basis are revenue from operations stood at INR 450 cr., reflecting a growth of 15% on yo-y basis.”
Ashok Bothra, page 5 of the filed PDF · View the filing
EBITDA (consolidated): INR 59.8 cr. (FY26)
p. 5
“EBITDA for the year stood at INR 59.8 cr., representing a yo-y growth of 4.2%.”
Ashok Bothra, page 5 of the filed PDF · View the filing
PAT (consolidated): INR 51.2 cr. (FY26)
p. 5
“PAT came at INR 51.2 cr., reflecting a growth of 3.7%.”
Ashok Bothra, page 5 of the filed PDF · View the filing
Revenue from operations (standalone): INR 132 crore (Q4 FY26)
p. 5
“On standalone basis, Q4 FY26 key highlights are revenue from operations was at INR 132 crore, reflecting a growth of 60% on y-o-y basis.”
Ashok Bothra, page 5 of the filed PDF · View the filing
EBITDA margin (standalone): 12.2% (Q4 FY26)
p. 5
“EBITDA margin was 12.2%, up 198 bps y-o-y basis.”
Ashok Bothra, page 5 of the filed PDF · View the filing
Revenue from operations (standalone): INR 434 crore (FY26)
p. 5
“FY26 on full year key highlights on standalone basis are revenue from operations stood at INR 434 crore, reflecting a growth of 34% on y-o-y basis.”
Ashok Bothra, page 5 of the filed PDF · View the filing
EBITDA (standalone): INR 60 crore (FY26)
p. 5
“EBITDA for the year stood at INR 60 crore, reflecting a growth”
Ashok Bothra, page 5 of the filed PDF · View the filing
PAT (standalone): INR 53.5 crore (FY26)
p. 6
“PAT came at INR 53.5 crore reflecting a growth of 10%.”
Ashok Bothra, page 6 of the filed PDF · View the filing
Exceptional loss from fire incident: 0.52 cr. (FY26)
p. 5
“PAT growth was supported by operational scaling even as we absorbed impact from capacity expansion, raw material volatility and net exceptional loss of 0.52 cr., related to fire incident at our plant of subsidiary.”
Ashok Bothra, page 5 of the filed PDF · View the filing
CPVC revenue: INR 110 crore (FY26)
p. 10
“So, it is around INR 110 crore out of INR 450 crores.”
Ashok Bothra, page 10 of the filed PDF · View the filing
CPVC monthly revenue run rate: INR 10 crores to INR 15 crores
p. 10
“It ranges from INR 10 crores to INR 15 crores on a monthly basis.”
Ashok Bothra, page 10 of the filed PDF · View the filing
Unit 2 installed capacity: around 60,000 tonnes
p. 9
“The unit 2 installed capacity will be around 60,000 tonnes and unit 1 will be around 25,000 tonnes.”
Ashok Bothra, page 9 of the filed PDF · View the filing
Employee count: 170 (April)
p. 12
“So in FY25, we were having an employee around 120. Now it jumped to say 150. And in April, it jumped to say 170.”
Ashok Bothra, page 12 of the filed PDF · View the filing
CPVC utilization at Palghar: 70% to 80% (FY26)
p. 15
“Otherwise, CPVC is running at optimal around 70% to 80%.”
Ashok Bothra, page 15 of the filed PDF · View the filing
CPVC share of revenue: 30% (FY26)
p. 16
“I think 30% of our revenue has come from the CPVC business and 70% is from the PVC business.”
Krishna Rana, page 16 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue growth — more than 40% · FY27
stated firmly by Krishna Rana
p. 4
“We reiterate our growth ambitions targeting more than 40% revenue growth in financial year '27 and a 35% CAGR from financial year '26 to '29.”
Krishna Rana, page 4 of the filed PDF · View the filing
Revenue CAGR — 35% CAGR · FY26 to FY29
stated as an aspiration by Krishna Rana
p. 4
“We reiterate our growth ambitions targeting more than 40% revenue growth in financial year '27 and a 35% CAGR from financial year '26 to '29.”
Krishna Rana, page 4 of the filed PDF · View the filing
Egypt facility commencement — Q3 FY27
stated firmly by Krishna Rana
p. 4
“The facility is expected to start commercial operations in Q3 financial year 2027.”
Krishna Rana, page 4 of the filed PDF · View the filing
Share of revenue from Egypt — 10% · FY27
stated firmly by Ashok Bothra
p. 6
“About 10% of the topline will come from Egypt operation and rest from Indian facility in FY27.”
Ashok Bothra, page 6 of the filed PDF · View the filing
EBITDA margin — 13% to 15% · FY27
stated firmly by Krishna Rana
p. 15
“EBITDA margin is 13% to 15%. Correct.”
Krishna Rana, page 15 of the filed PDF · View the filing
Egypt plant revenue potential — around INR 300 cr. · over three years
stated conditionally by Ashok Bothra
p. 15
“So, we are expecting a potential revenue around INR 300 cr., over a period of three years and at peak level, it may be around more than INR 600 crores.”
Ashok Bothra, page 15 of the filed PDF · View the filing
Oleo chemicals revenue target — INR 55 crores to INR 60 crores · this year
stated as an aspiration by Krishna Rana
p. 11
“Oleo this year, it's this year, we are targeting somewhere around INR 55 crores to INR 60 crores in oleo chemicals.”
Krishna Rana, page 11 of the filed PDF · View the filing
Oleo-based derivatives manufacturing capacity — next one and a half year
stated firmly by Krishna Rana
p. 11
“And I think in next one and a half year, we will be ready with our capacities for oleo-based derivatives.”
Krishna Rana, page 11 of the filed PDF · View the filing
Egypt plant breakeven utilization — 30% to 35%
stated as an aspiration by Ashok Bothra
p. 16
“So around 30% to 35% is decent enough to breakeven.”
Ashok Bothra, page 16 of the filed PDF · View the filing
Overall CAGR including oleo — around 35% · next three years
stated as an aspiration by Ashok Bothra
p. 16
“So, we are targeting a CAGR around 35% over the next three years.”
Ashok Bothra, page 16 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Around 10% of topline will come from Egypt and the rest from India, with decent CPVC growth expected.
Answered by Ashok Bothra
Asked by Bhargav Buddhadev: How is the 40% FY27 revenue growth split between India and Egypt, and what is the expected CPVC contribution?
p. 6
“About 10% of the topline will come from Egypt operation and rest from Indian facility in FY27.”
Ashok Bothra, page 6 of the filed PDF · View the filing
Margins were similar to Q3 but raw material prices rose in March due to geopolitical factors, causing temporary pressure.
Answered by Ashok Bothra
Asked by Bhargav Buddhadev: Was the Q4 gross margin pressure due to rising CPVC share?
p. 6
“But because of this geopolitical scenario, raw material price went up in”
Ashok Bothra, page 6 of the filed PDF · View the filing
Sales have just started this month via a contract manufacturer, with the company planning to build its own plant within 1-1.5 years.
Answered by Krishna Rana
Asked by Arnav Sakhuja: What is the update on the oleo chemicals segment?
p. 8
“So, our first sale has started from this month that is from the month of April.”
Krishna Rana, page 8 of the filed PDF · View the filing
Unit 2 capacity is around 60,000 tonnes, unit 1 around 25,000 tonnes, and Egypt will have similar capacity.
Answered by Ashok Bothra
Asked by Anup Sharma: What is the status, capacity, and utilization of the new plant?
p. 9
“And in Egypt, we are putting up the similar CapEx and with similar facility around 60,000 metric tonnes per annum.”
Ashok Bothra, page 9 of the filed PDF · View the filing
CPVC margins have improved from 6-7% two years ago to 18-20% now, with potential to reach 20-22%.
Answered by Krishna Rana
Asked by Bhargav Buddhadev: What is CPVC's gross margin trajectory?
p. 10
“So, we could able to achieve a target of 18% to 20% in this.”
Krishna Rana, page 10 of the filed PDF · View the filing
Management confirmed an EBITDA margin range of 13% to 15% for FY27.
Answered by Ashok Bothra
Asked by Disha Chordiya: What EBITDA margin base is expected for FY27?
p. 15
“EBITDA margin 13% to 15%.”
Ashok Bothra, page 15 of the filed PDF · View the filing
Management expects around INR 300 crore over three years, rising to over INR 600 crore at peak utilization.
Answered by Ashok Bothra
Asked by Disha Chordiya: What is the peak revenue potential of the Egypt plant?
p. 15
“So, we are expecting a potential revenue around INR 300 cr., over a period of three years and at peak level, it may be around more than INR 600 crores.”
Ashok Bothra, page 15 of the filed PDF · View the filing
Around 30-35% utilization would be sufficient for breakeven.
Answered by Ashok Bothra
Asked by Bhargav Buddhadev: What utilization level would allow Egypt to break even?
p. 16
“So around 30% to 35% is decent enough to breakeven.”
Ashok Bothra, page 16 of the filed PDF · View the filing
Egypt margins are expected to be at least at the same level as India, and likely higher.
Answered by Ashok Bothra
Asked by Bhargav Buddhadev: Will Egypt gross margins be higher than India's?
p. 17
“It is at least at the same level of India, but it will be definitely higher than the Indian markets.”
Ashok Bothra, page 17 of the filed PDF · View the filing
Risks flagged
Raw material price volatility linked to geopolitical situation impacting margins
p. 6
“But because of this geopolitical scenario, raw material price went up in”
Ashok Bothra, page 6 of the filed PDF · View the filing
Time lag in passing on raw material cost increases to customers
p. 7
“But otherwise, there is a time lag in passing on the margins.”
Ashok Bothra, page 7 of the filed PDF · View the filing
Fire incident at subsidiary's Palghar facility causing exceptional loss
p. 4
“We navigated challenges, including the fire incident in our subsidiary at our Palghar facility in July 2025.”
Krishna Rana, page 4 of the filed PDF · View the filing
Crude price volatility since the war began affecting chemical raw material costs
p. 8
“Right. The similar story has not happened to the chemical side, where the raw material cost, which were dependent on the crude oil prices or the volatility in the currency fluctuations, there was a gap of supplies by the vendors.”
Krishna Rana, page 8 of the filed PDF · View the filing
PVC price volatility since last year with a sudden spike and downfall in March and April
p. 8
“So if you talk about our industry, plastic, if you see PVC as a polymer, has been extremely volatile since last year.”
Krishna Rana, page 8 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.