1. IPO listing on NSE and BSE on 30 July 2026 Delivered - In the Q1 FY27 result filing, the company committed to an offer for sale aggregating ₹1,101.29 crore, with listing on NSE and BSE on 30 July 2026. The IPO was completed with 25,931,407 equity shares of ₹1 face value at ₹425 per share, and the stock listed on NSE and BSE on 30 July 2026.
2. Revenue mix going forward of \~80-85% woven plastics machinery, \~10-12% spares, \~5-6% new initiatives On track - At the Q1 FY27 call, the CFO guided a revenue mix going forward of \~80-85% woven plastics machinery, \~10-12% spare parts and \~5-6% new initiatives like recycling and monofilament, with no timeline. Q1 FY27 showed Machines at \~80%, After Market at \~9% and Other at \~11%, and FY26 spare parts were 11.3% of revenue.
3. R&D spend at \~3% of revenue as the going-forward average On track - At the Q1 FY27 call, Gaurav Lohia said R&D spend of around 3% "will be our going forward average," reiterating it when asked whether it could increase. FY26 R&D spend was ₹518 Mn against revenue of ₹17,170 Mn, approximately 3.0%, while Q1 FY27 R&D spend was not separately disclosed.
4. Existing capacity to reach \~₹2,400-2,500 crores turnover - no date Pending - At the Q1 FY27 call, management said existing capacities, with some balancing of machines, can take the company to about ₹2,400-2,500 crores turnover, with no date committed. FY26 revenue was ₹1,717 crores and Q1 FY27 revenue was ₹503 crores, both below the capacity-linked level with the horizon open.
5. FY27 revenue growth of 20-25% On track - At the Q1 FY27 call, the CFO guided FY27 revenue growth "in the range of 20% to 25%," calling it "a fair estimate today". Q1 FY27 revenue grew 59.51% YoY, above the guided floor, and the full-year outcome is not yet due.
6. \~20% EBITDA margin as the "new normal" going forward On track - At the Q1 FY27 call, the CFO said the current \~20% EBITDA margin is "going to be the new normal," agreeing under questioning it will be "20% at least," and later reiterated maintaining \~20% with a higher export proportion. Q1 FY27 EBITDA margin was 19.9%, Q4 FY26 was 20.25% and FY26 full-year was 18.6%.
7. Exports to stabilize at \~50% of revenue and order book going forward Pending - At the Q1 FY27 call, the CFO said exports would stabilize at around 50% of revenue and order book going forward, versus the current order book at \~30% exports / \~70% domestic. Q1 FY27 exports were \~41% of revenue and the order book remains \~30% exports, below the \~50% target with the horizon open-ended.