Pyramid Technoplast Reports 27% Volume Growth in Q1FY26, Commissions New Maharashtra Unit
Pyramid Technoplast Limited, an industrial packaging company, reported robust Q1FY26 results with 27% year-on-year volume growth to 12,612 MTPA. Revenue increased to Rs 164.00 crores, and gross margins improved by 110 basis points to 26%. The company's Intermediate Bulk Containers (IBCs) segment saw 55% volume growth and 42% revenue growth. A new unit in Wada, Maharashtra, began operations on June 20, 2025. The company operated at 73.4% capacity utilization and plans strategic initiatives including a solar power facility and a recycling plant. Capital expenditure of Rs 70.00-80.00 crores for FY26 and Rs 10.00-20.00 crores for FY27 is planned for expansion and green energy projects.

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Pyramid Technoplast Limited , a leading industrial packaging company, has reported a strong performance in the first quarter of fiscal year 2026 (Q1FY26), marked by significant volume growth and operational expansion.
Key Highlights
- Overall volume growth of 27% year-on-year, reaching 12,612 MTPA
- Revenue increased to Rs 164.00 crores
- Gross margins improved by 110 basis points to 26%
- New Wada unit in Maharashtra commenced operations on June 20, 2025
Operational Performance
Pyramid Technoplast demonstrated robust growth across all drum categories in Q1FY26. The company's flagship product, Intermediate Bulk Containers (IBCs), recorded an impressive 55% year-on-year volume growth and 42% revenue growth. This segment now contributes 37% to the company's total revenue, highlighting its increasing importance in the product mix.
HDPE drums saw a 13% year-on-year volume growth with a 7% revenue increase, while MS Drums recorded a 19% year-on-year volume growth and 11% revenue growth.
Capacity Expansion and Utilization
The company operated at a capacity utilization of 73.4% in Q1FY26, achieving its best Q1 volume of 12,612 MTPA. The recently commissioned Wada unit in Maharashtra is expected to contribute significantly to production in the coming quarters, with full-swing operations anticipated in Q2FY26.
Financial Performance
Despite the strong volume growth, the company's EBITDA margins faced some pressure due to the operating costs of the new Wada unit. However, management expects these margins to normalize as capacity utilization picks up during the year. Gross margins rebounded to 26%, showing a 110 basis point improvement year-on-year, attributed to an improved product mix and input cost reduction.
Strategic Initiatives
Pyramid Technoplast is actively pursuing several strategic initiatives to enhance its operational efficiency and profitability:
Green Energy Initiative: A 15.45 MW captive solar power facility is set to begin operations in September 2025, with an expected cost reduction of Rs 10.00 crores annually.
Recycling Plant: The company plans to commence operations of a recycling plant (Unit 9) in September 2025. With a capex of Rs 8.00-10.00 crores, this plant will recycle 5,000 metric tons of plastic annually, potentially reducing raw material costs and dependency on imports.
Capacity Expansion: The company has outlined a capital expenditure plan of Rs 70.00-80.00 crores for FY26 and Rs 10.00-20.00 crores for FY27, focusing on capacity expansion and green energy initiatives.
Future Outlook
Jaiprakash Bijaykumar Agarwal, Wholetime Director & CFO of Pyramid Technoplast, commented on the results, stating, "Our strong performance in Q1FY26 reflects the growing demand for our products and the success of our expansion strategies. The commissioning of our Wada unit is a significant milestone that will allow us to better serve our customers in Maharashtra and neighboring regions."
The company remains optimistic about its growth trajectory, banking on its strategic initiatives and the increasing demand for industrial packaging solutions. With its focus on operational efficiency, capacity expansion, and sustainability measures, Pyramid Technoplast is well-positioned to capitalize on market opportunities in the coming quarters.
Note: This article is based on the Q1FY26 investor presentation and does not include any forward-looking statements or predictions.
Historical Stock Returns for Pyramid Technoplast
1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
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+0.89% | -2.82% | -7.23% | -7.65% | -10.53% | -9.47% |