Pyramid Technoplast has received approval for an additional 7.25 MW solar capacity expansion, marking a significant step forward in the company's renewable energy initiatives. This development underscores the company's commitment to sustainable energy solutions and positions it for enhanced operational capabilities in the clean energy sector.

Maharashtra Project Becomes Operational

The company has successfully operationalized its 2.25 MW solar project in Maharashtra. This milestone represents the completion of a key component in Pyramid Technoplast's diversified solar energy portfolio across multiple states.

Gujarat Operations and Expansion Plans

In Gujarat, the company has commenced operations of 11 MW solar capacity. The total planned solar capacity for Gujarat is set at 12 MW, indicating near-completion of the company's ambitious expansion plans in the state.

Strategic Solar Portfolio Development

The approval for additional 7.25 MW capacity reflects the company's strategic approach to expanding its renewable energy footprint. With projects spanning across Maharashtra and Gujarat, Pyramid Technoplast is building a geographically diversified solar energy portfolio that enhances its operational resilience and market presence.

These developments position the company to capitalize on the growing demand for renewable energy solutions while contributing to India's clean energy transition goals.

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.