1. ₹1,000 crore FY28 revenue guide - Management targets ₹1,000 crore revenue by FY28 from existing capacities, with no incremental capex expected in FY27 and FY28. Current capacity utilization of 50-55% leaves headroom for \~25-30% more utilization by FY28, which alone can deliver the guide.
2. Guwahati FMCG facility ramp-up - The Guwahati plant (2,160 MT/month soap noodles, 1,000 MT/month cosmetics) commissioned January 8, 2026, and Q1 FY27 revenue from its two sections rose to ₹63.90 crore from ₹46.92 crore in Q4 FY26. With cosmetics at 45-50% and noodles at 45-55% utilization, this facility is the nearest large revenue driver toward the ₹1,000 crore target.
3. Soap noodle backward integration - Soap noodles contribute \~50% of FMCG sales, with 80% sold to market customers including ITC, Patanjali, Godrej, and Jyothy. Captive consumption of intermediates for the soap line removes a cost layer, supporting the guided 2-2.5% EBITDA margin improvement.
4. FMCG margin expansion to 7% PAT - Management targets 7% PAT margin by FY28, up from 5.44% in Q1 FY27, with EBITDA margin expected to rise another 2-2.5%. Operating leverage from higher utilization adds \~1.25% operational leverage, and Q4 FY26 PAT margin already hit 6.12%.
5. Customer concentration with RCM - RCM accounts for \~30-40% of revenue, expected to settle at 30-35%, with the balance from 200+ customers including ITC, Godrej, and Patanjali. New customers added for the soap section in Q4 FY26 and Q1 FY27 directly drove quarterly growth, and the model runs on firm monthly orders.
6. Edibles capacity addition - The Bhilwara Edibles Section (2,500 MT/month) generated ₹30.34 crore in Q1 FY27, up from ₹29.26 crore in Q4 FY26, with product portfolio expansion underway. Edibles is part of the 90.6% FMCG/intermediates/edibles revenue mix and adds a second growth leg beyond personal and home care.