Pakka Limited received listing approval from the National Stock Exchange of India Limited for 27.2 lakh equity shares allotted on a preferential basis. The exchange granted the in-principle approval on August 28, 2026, paving the way for the shares to be admitted to dealings.

The company notified stakeholders pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The NSE issued its approval letter bearing reference number NSE/LIST/56016, confirming that the application and related documents met the required criteria.

Listing Details

The equity shares have a face value of ₹10 each. They bear distinctive numbers from 4,49,48,101 to 4,76,68,100. The shares will be listed and admitted to trading on the NSE only after the exchange receives confirmation from NSDL or CDSL regarding the credit of shares to the beneficiaries' accounts.

BSE Limited has also approved the company's listing application. The formal approval letter is currently awaited for upload on the BSE portal and will be placed on record once available. The company confirmed that this information is also accessible on its official website.

Pakka Limited delivered its highest-ever quarterly revenue in the first quarter ended June 30, 2026, driven by strong performance in its Wrap & Carry segment and expansion in Food Services. The company aims to leverage this momentum while stabilizing key capital projects.

Financial Performance

Revenue for Q1FY27 reached ₹120 crore, marking a 42% increase year-on-year and a 14% rise quarter-on-quarter. This top-line growth was accompanied by an expansion in profitability metrics. EBITDA grew 31% year-on-year to approximately ₹17.4 crore (derived from 14.5% margin), while Profit Before Tax (PBT) surged 34% year-on-year and 59% quarter-on-quarter.

The Wrap & Carry business contributed ₹101.14 crore to revenue, up 43% from the corresponding period last year. However, PBT for this segment fell 16% sequentially due to one-off costs paid to bankers during the quarter, despite operational improvements.

In the Food Services division, revenue climbed 34% year-on-year to ₹18.45 crore. B2B revenue was the primary growth driver, rising 46% to ₹16.5 crore. The division recorded a PBT loss of ₹1.62 crore, higher than the prior year due to structural manufacturing changes. Management expects incremental gross margins to flow through to PBT as costs do not rise proportionately with revenue.

What the Numbers Show

A significant divergence exists between the stated interest rate and actual cash outflows under the new financing structure. While the borrowing cost with Neo Asset Management increased to approximately 17% from 11%, management clarified that the aggregate estimated interest outflow for the next two years is lower (₹120–₹122 crore) compared to the previous bank structure estimate (₹150–₹155 crore). This suggests that despite the higher headline rate, the refinancing structure provides better cash-flow predictability and supports project completion without immediate dilution of cash reserves.

Project Updates & Outlook

Project Jagriti is back on track after funding completion. The Power Boiler and Recovery Boiler are at an advanced stage, with start-up targeted for late August or early September. Paper Machine 4 (PM4), which will add over 30,000 tonnes of annual capacity, is expected to begin commercial production by November following pilot trials in Europe.

Management reaffirmed its FY2026–27 revenue guidance of approximately ₹500 crore. Himanshu Kapoor, Non-Independent Non-Executive Director, projected an EBITDA margin of 18–19% for the full year, citing improved variable-cost structures and potential profitability in the CHUK brand. The effective tax rate is expected to be around 26%.