• Cost pass-through and margins: The company is passing higher raw material costs to customers with minimal lag, expecting absolute margins to remain steady despite potential percentage-level dilution from higher input prices.
• Industry inventory levels: Finished goods inventory across the packaging glass industry has compressed to around 40 to 45 days due to production curbs from gas availability issues against sustained market demand.
• Aluminium can expansion: A new manufacturing facility in Hathras, Uttar Pradesh, is slated for commissioning in H1 2027 to capture low domestic per capita consumption and complement existing glass packaging clients in the beer and beverage sectors.
• Can capacity and revenue: The upcoming facility will have a pallet capacity of 1.3 billion cans (1.6 billion total capacity) and is projected to deliver ₹1,300 to ₹1,500 crore in annualized revenue upon reaching full capacity utilization around 2027–2028.