Pyramid Technoplast Limited , a leading industrial packaging solutions provider, has reported a strong performance for the second quarter of fiscal year 2026, with significant progress in its expansion and sustainability initiatives.

Revenue Growth and Performance Highlights

The company achieved a 21% year-on-year revenue growth, reaching ₹161.00 crore in Q2 FY26. This growth was primarily driven by robust volume increases across all drum categories. For the first half of FY26, the company's revenue stood at ₹325.00 crore, marking a 22% increase compared to the same period last year.

Capacity Expansion and Utilization

Pyramid Technoplast has significantly expanded its production capacity by 22%, increasing from 62,050 metric tons per annum to 75,754 metric tons per annum. This expansion was largely due to the ramp-up of operations at its new Wada plant in Maharashtra. However, the capacity utilization for Q2 stood at 66%, slightly lower than expected due to the initial operational phase of the new facility.

Sustainability Initiatives

The company has made substantial progress in its sustainability efforts:

1. Solar Power Plant: A 6MW solar facility was commissioned on October 30, 2025, marking the first phase of a 15MW project across Gujarat and Maharashtra. This initiative is expected to significantly reduce power costs, with estimated annual savings of ₹15.00 crore.

2. Plastic Recycling Plant: On October 3, 2025, Pyramid Technoplast commissioned a new recycling unit in Bharuch, Gujarat. With an investment of approximately ₹10.00 crore, this 5,000 metric ton annual capacity plant is expected to meet 10-12% of the company's raw material requirements, potentially reducing costs and import dependency.

Financial Performance

• Gross Profit: Reached ₹43.00 crore for Q2, up 28% year-on-year.
• EBITDA: Increased by 21% year-on-year to ₹12.60 crore.
• PAT (Profit After Tax): Grew by 8% year-on-year to ₹6.20 crore.

Segment-wise Performance

Future Outlook

The management expects the full benefits of the recent expansions and sustainability initiatives to reflect in the coming quarters. With the major CAPEX cycle largely complete, the focus has shifted to improving capacity utilization and operational efficiency.

Jaiprakash Bijaykumar Agarwal, Wholetime Director & CFO, commented, "With the expansion phase nearing completion, coupled with sustainability initiatives and higher utilization in established phases, we see a lot of operational efficiencies in our business going forward. Pyramid is well-positioned to drive consistent growth and enhance profitability and create long-term value for all stakeholders."

The company maintains its guidance of 15% revenue growth for the next fiscal year and expects EBITDA margins to remain in the 11-12% range, with potential upside from the newly commissioned recycling and solar plants.

Pyramid Technoplast continues to focus on marketing efforts to maximize output from its installed capacity and is exploring new product lines within the industrial packaging sector to drive future growth.

Pyramid Technoplast , a leading industrial packaging company, has reported a significant improvement in its financial performance for the second quarter, along with a key management change.

Key Financial Highlights

• EBITDA Growth: Pyramid Technoplast's Q2 EBITDA rose to ₹119.00 million, up from ₹95.00 million in the same period last year, marking a 25% year-over-year increase.
• Margin Improvement: The EBITDA margin expanded to 7.40% from 7.11% year-over-year, indicating enhanced operational efficiency.
• Revenue Surge: The company's revenue from operations for Q2 stood at ₹1,614.88 crore, a 20.80% increase from ₹1,331.40 crore in the same quarter of the previous year.
• Half-Year Performance: For the half-year, the company reported revenue from operations of ₹3,261.50 crore.
• Net Profit: Net profit after tax was reported at ₹61.53 crore for the quarter and ₹140.61 crore for the half-year.

Operational Performance

Pyramid Technoplast's robust performance can be attributed to several factors:

1. Volume Growth: The company experienced strong overall volume growth of 24% year-over-year, with significant increases across its product segments:

   • IBC (Intermediate Bulk Containers): Up 42%
   • HDPE drums: Up 16%
   • MS (Mild Steel) drums: Up 14%

2. Capacity Expansion: The new Wada plant, currently operating at 44% utilization, has contributed to the overall capacity utilization of 66%.

3. Product Mix Improvement: The company has seen an improvement in its product mix, with higher-margin segments like IBCs now contributing 36% to the revenue.

Strategic Initiatives

Pyramid Technoplast has undertaken several strategic initiatives to enhance its operational efficiency and sustainability:

1. Recycling Plant: A new recycling facility with a 5,000-ton annual capacity was commissioned on October 3. This plant is expected to cater to 10-12% of the company's raw material needs.

2. Solar Power Plant: A 6 MW solar power plant became operational on October 30, as part of a planned 15.25 MW capacity. This green energy initiative aims to reduce power costs by over ₹150.00 million annually upon full commissioning.

3. Wada Facility Ramp-up: The Wada plant's utilization is expected to reach 80% by FY27.

Management Change

In a significant development, Ms. Puja Sharma has resigned from her position as Company Secretary and Compliance Officer, effective November 11. The resignation was attributed to personal reasons and other professional commitments. The Board of Directors approved this resignation at their meeting held on November 11.

Management Commentary

Jaiprakash Agarwal, Whole Time Director & CFO, stated, "Our Q2 results demonstrate the success of our strategic initiatives and the growing demand for our products. The improvement in EBITDA and margins reflects our focus on operational efficiency and value-added products. With our new recycling and solar power facilities, we are well-positioned for sustainable growth and improved profitability."

Outlook

As Pyramid Technoplast continues to ramp up its new facilities and optimize its product mix, the company appears poised for further growth. The focus on sustainability through recycling and solar power initiatives may also contribute to long-term cost savings and improved margins.

Investors and analysts will be watching closely to see how the company leverages its expanded capacity and green initiatives to drive future performance in the competitive industrial packaging sector, as well as how it manages the transition following the departure of its Company Secretary and Compliance Officer.