HCP Plastene Bulkpack reported a significant surge in profitability for the first quarter of FY27, with consolidated net profit jumping 159% year-on-year to ₹183.5 crore. This compares to a net profit of ₹71.2 crore in Q1FY26. The financial performance was underpinned by robust top-line growth, as revenue from operations expanded 38% to ₹1,741.9 crore from ₹1,257.5 crore in the previous year’s same quarter.

The company’s standalone results also reflected this upward trajectory. Standalone net profit rose sharply to ₹90.0 crore in Q1FY27, compared to just ₹7.0 crore in Q1FY26. Standalone revenue grew 87% to ₹1,152.6 crore, driven primarily by its core Woven Sacks Division.

Financial Performance

The consolidated segment data reveals that the Woven Sacks Division remains the primary growth engine, contributing ₹1,736.6 crore in revenue for the quarter, up from ₹1,251.8 crore in Q1FY26. The division’s EBIT stood at ₹315.2 crore, significantly higher than the ₹136.6 crore recorded in the prior year period. The Label Division contributed marginally with ₹53.6 crore in revenue.

Note: EBITDA is derived from Profit before exceptional items and tax plus depreciation/amortization expenses as per standard accounting adjustments not explicitly line-itemed as EBITDA in the source, but represented by PBIT before interest/tax adjustments where applicable. Here, PBIT before tax is used as the primary operating proxy provided.

Standalone other income declined to ₹66.7 crore from ₹81.9 crore in Q1FY26, while consolidated other income fell more sharply to ₹73.1 crore from ₹648.7 crore. The drop in consolidated other income suggests that last year’s figures may have included non-recurring gains, making the current quarter’s operational profit growth even more pronounced.

Corporate Developments

During the board meeting held on August 12, 2026, the company announced several key administrative changes:

• CFO Resignation: Mr. Dhrumil Shah resigned as Chief Financial Officer effective August 12, 2026, citing further career opportunities.
• Board Re-appointments: Mr. Prakash Parekh was re-appointed as Managing Director for three years, subject to shareholder approval at the upcoming AGM. Mr. Sandeep Shah was re-appointed as Non-Executive Independent Director for five years.
• ESOP Allotment: The board approved the allotment of 16,780 equity shares to employees upon exercise of options under the ESOP Scheme 2022. This increased the paid-up equity capital from ₹106.7 crore to ₹106.9 crore.
• AGM Details: The 42nd Annual General Meeting is scheduled for September 25, 2026, via video conferencing. The record date is set for September 18, 2026.

What the Numbers Show

The divergence between standalone and consolidated revenue growth highlights the scale of operations within the group structure. While standalone revenue grew 87%, consolidated revenue grew 38%. This indicates that the subsidiary, K P Woven Private Limited, which holds significant assets (₹3,724.6 crore as per auditor notes), contributes substantially to the total turnover but likely operates at different margin profiles or has different cost structures compared to the parent entity. The sharp decline in consolidated other income year-on-year (from ₹648.7 crore to ₹73.1 crore) further underscores that the current profit growth is driven by core operational efficiency rather than one-off gains.

The company’s deferred tax expense increased to ₹443.8 crore in the consolidated statement, reflecting the higher taxable income base. With no dividend declared in this filing, the focus remains on operational expansion and capital allocation through internal accruals.

HCP Plastene Bulkpack Limited announced on July 17, 2026, that M/s S.A. Gadhia & Company has declined the appointment as Internal Auditor for the financial year 2026-27 due to professional commitments. The firm communicated its unwillingness to accept the role, citing pre-existing professional commitments and other unavoidable circumstances. Consequently, the initial appointment made by the Board has not become effective.

The Board of Directors had appointed M/s S.A. Gadhia & Company as the Internal Auditor during its meeting held on May 28, 2026. The company had subsequently intimated the stock exchange regarding this appointment. Following the receipt of the communication refusing the offer, the company stated that the appointment is not effective.

HCP Plastene Bulkpack Limited is currently in the process of identifying and appointing another eligible Internal Auditor. The company stated that the new appointment will be placed before the Board of Directors. The stock exchange will be informed promptly in accordance with the applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Key Details