Anurag Choudhary and his Persons Acting in Concert (PACs) sold a 2.12% stake in Filatex India , disposing of 94,24,657 equity shares through the open market.

The transaction, executed between December 9, 2024, and August 27, 2026, reduced the group’s total holding to 6.30% (2,79,66,990 shares). The disclosure was filed with BSE and NSE on August 28, 2026, under Regulation 29(2) of the SEBI (SAST) Regulations, 2011.

Transaction Details

The seller group comprises Anurag Choudhary along with nine other entities and individuals, including Shyam Sundar Choudhary, Amit Choudhary, and various HUFs and LLPs associated with them. The group is not classified as part of the promoter or promoter group.

What the Numbers Show

The data reveals a significant discrepancy in the reported share counts. While the table lists pre-sale holdings as 37,391,647 shares (8.42%) and post-sale holdings as 2,79,66,990 shares (6.30%), the arithmetic does not align: subtracting the sold quantity (94,24,657) from the stated pre-sale figure results in approximately 27.97 million shares, not the reported 279.67 million. This suggests a potential typo in the source filing’s pre-sale share count, which appears to be missing a digit or misplaced comma, as the percentage drop (8.42% to 6.30%) is consistent with a much larger initial base than 37 million shares against a total capital of ~444 million.

Filatex India Limited reported a 22.06% quarter-on-quarter (QoQ) rise in standalone net profit after tax (PAT) to ₹49.14 crore for Q1FY27, driven by improved realizations from higher raw material prices. Revenue from operations grew 16.22% QoQ to ₹1,145.30 crore, while sales volumes remained stable at 89,972 MT. During the earnings conference call held on July 31, 2026, Chairman & Managing Director Madhu Sudhan Bhageria stated that margins have stabilized following the initial shock of geopolitical tensions in West Asia, with June and July performance significantly better than April.

The Board of Directors approved the unaudited financial results on July 30, 2026, reviewed by statutory auditors Arun K Gupta & Associates under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company highlighted that while raw material costs for PTA and MEG increased by over 20% due to the crisis, these hikes were successfully passed on to customers, preserving profitability. Profit before tax rose to ₹65.87 crore from ₹53.47 crore in Q4FY26.

Financial Performance

Standalone revenue stood at ₹1,145.30 crore, up from ₹985.49 crore in Q4FY26. Total income reached ₹1,155.31 crore, aided by other income rising 103.04% QoQ to ₹10.01 crore. Tax expense was ₹16.73 crore. Consolidated net profit after tax was ₹48.52 crore.

Management noted an inventory gain of approximately ₹15–17 crore in the quarter due to favorable price movements after the initial volatility. Forex impact was minimal, with a potential loss of ₹10–15 crore expected for the year due to euro depreciation.

Operational Updates and Strategic Capex

Production volumes declined 13.39% QoQ to 84,076 MT as the company reduced operating rates in April to avoid holding high-cost inventory during peak crude prices. Sales remained stable as existing stock was cleared in May and June. The company is executing a ₹690 crore growth plan:

Bhageria confirmed that the Ecosis recycling plant, a key circular economy initiative, is undergoing installation and commissioning. He projected a stabilization period of 3–5 months post-commissioning, aiming for above 80% utilization in FY28. The company has signed MoUs with Decathlon and American & Efird Global LLC, with trial approvals from several brands. Bhageria emphasized that Filatex’s capex per ton for recycling is 3–5 times lower than international competitors, providing a first-mover advantage.

What the Numbers Show

The divergence between declining production volumes and stable sales indicates effective inventory management during periods of high input cost volatility. The YoY improvement in EBITDA margin to 6.80% demonstrates pricing power, allowing the company to pass through raw material inflation without significant margin erosion. The strategic pivot towards high-margin recycled polyester via Ecosis, combined with domestic PTA capacity additions by GAIL and Indian Oil Corporation, positions Filatex to benefit from reduced import dependence and premium product demand. Management’s guidance of ₹150–200 crore peak net debt by end-FY27 suggests disciplined leverage management amidst aggressive capital expenditure.