Pasupati Acrylon Limited delivered strong financial performance for FY26, driven by the successful integration of its grain-based ethanol segment alongside its core acrylic fibre and CPP film businesses. The company reported a 97.60% year-on-year increase in net profit after tax (PAT) to ₹6,991.41 lakh, up from ₹3,538.12 lakh in the previous fiscal. Revenue from operations expanded by 62.55% to ₹1,01,015.78 lakh, reflecting robust demand across segments and improved operational efficiency.

The Board of Directors has scheduled the company’s 43rd Annual General Meeting (AGM) for Wednesday, September 9, 2026, at 10:30 am at its registered office in Moradabad, Uttar Pradesh. Shareholders will consider the adoption of audited financial statements, the re-appointment of Director Satya Prakash Gupta, and the ratification of cost auditor remuneration.

Financial Performance

The company’s earnings growth outpaced revenue expansion, indicating improved operating leverage. EBITDA surged 112.13% to ₹11,922.25 lakh from ₹5,620.09 lakh in FY25. This margin expansion was supported by better plant run rates in the CPP division and the full-year contribution from the ethanol plant, which commenced commercial production in March 2025.

Segment Highlights

The ethanol segment emerged as a significant growth engine, contributing ₹32,422.24 lakh in revenue compared to just ₹266.24 lakh in FY25. The segment posted a profit before tax, exceptional items, and interest of ₹3,370.55 lakh. Meanwhile, the traditional acrylic fibre business saw revenue rise to ₹58,703.05 lakh from ₹53,810.27 lakh, with sales volumes increasing 11.89% to 37,878 MT. The CPP film division also turned profitable, reporting a pre-tax profit of ₹763.44 lakh against a loss of ₹30.62 lakh in the prior year.

What the Numbers Show

A notable divergence exists between export performance and overall revenue growth. While total revenue jumped 62.55%, foreign exchange earnings fell significantly. FOB value of exports dropped to ₹3,032.19 lakh from ₹5,341.39 lakh in FY25. Specifically, acrylic fibre exports declined sharply to 741 MT from 2,604 MT. This suggests that the revenue growth was primarily domestic or driven by the new ethanol segment, which is largely sold domestically to Oil Marketing Companies, rather than international expansion in legacy products.

Balance Sheet and Dividends

The company maintained a conservative debt profile with a debt-to-equity ratio of 0.25 times, down from 0.30 times in FY25. Total borrowings stood at ₹10,710.24 lakh (combining non-current and current liabilities). Despite the strong profitability, the Board decided not to recommend any dividend for FY26, likely to preserve capital for ongoing operations and potential capacity expansions.

AGM Details

The AGM notice outlines several key agenda items:

• Adoption of audited financial statements for FY26.
• Re-appointment of Mr. Satya Prakash Gupta as Director, who retires by rotation.
• Ratification of remuneration for Cost Auditor Mr. Satnam Singh Saggu for FY27, fixed at ₹60,000 plus taxes and expenses.

Remote e-voting will be available from September 6 to September 8, 2026. The record date for determining voting eligibility is September 2, 2026.

Pasupati Acrylon Limited reported a 97.6% rise in net profit to ₹69.92 crore for the financial year ended March 31, 2026, compared to ₹35.38 crore in the previous year. Revenue from operations increased 62.6% to ₹1,010.16 crore from ₹621.43 crore in FY25, primarily driven by the performance of its Fibre and Ethanol segments. For the quarter ended March 31, 2026, net profit stood at ₹26.28 crore versus ₹11.27 crore in the same period of the prior year, while revenue from operations came in at ₹246.94 crore compared to ₹172.01 crore year-on-year.

The Board of Directors, in its meeting held on May 25, 2026, approved the audited financial results for the quarter and year ended March 31, 2026. The results were reviewed by the Audit Committee and are based on Indian Accounting Standards (Ind AS). Statutory Auditors M/s B.K. Shroff & Co., Chartered Accountants, issued an audit report with an unmodified opinion. The financials are not fully comparable with the previous year as the company established a 150 KL per day grain-based distillery for ethanol blended petrol as an additional segment on March 25, 2025. The company submitted copies of newspaper clippings of the published results to BSE Limited and National Stock Exchange of India Ltd on May 27, 2026, in compliance with Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The company reported a profit before tax of ₹94.36 crore for FY26, up from ₹47.72 crore in the prior year. Total expenses for the year increased to ₹923.90 crore from ₹585.08 crore. Earnings per share (EPS) for the year improved to ₹7.84 from ₹3.97 in the previous year. The company recorded an exceptional item of ₹0.57 crore during the year related to an increase in past service cost due to amendments in Labour Law.

Q4 Performance Highlights

The company's quarterly performance reflected strong operational momentum, with Q4 EBITDA rising to ₹38.60 crore from ₹13.70 crore in the same quarter of the prior year. The EBITDA margin expanded significantly to 15.77% from 8.17% year-on-year, indicating improved operational efficiency during the quarter.

Segment Performance

Segment-wise revenue for FY26 was led by the Fibre segment at ₹587.04 crore, followed by Ethanol at ₹324.22 crore and CPP Film at ₹98.90 crore. The Ethanol segment, which was newly added in the previous year, contributed significantly to the overall revenue growth. Segment results before tax and interest showed the Fibre segment contributing ₹65.96 crore, while the Ethanol segment contributed ₹33.71 crore.

Corporate Developments

The Board approved an investment of approximately ₹25 crore to enhance the manufacturing capacity of the Ethanol Plant from 180 KL per day to 240 KL per day through debottlenecking. Additionally, the Board fixed September 24, 2026, as the date for the 43rd Annual General Meeting. The Register of Members and Share Transfer Books will remain closed from September 19, 2026, to September 24, 2026. Based on the Audit Committee's recommendation, Mr. Satnam Singh Saggur was appointed as the Cost Auditor for the financial year ended March 31, 2027.