• Capex and expansion: The company is deploying ₹54.9 crore from IPO proceeds to expand installed capacity from 29,200 metric tons to 38,000 metric tons across its six existing manufacturing facilities. It is also introducing ISBM technology to produce PET and rPET bottles for beverage, pharma, personal care, and cosmetics sectors.
• EBITDA margin trajectory: Margins improved from 8.55% in FY24 to 13.3% in FY26 and reached 15% in Q1 FY27, driven by operating leverage, better capacity utilization (reaching nearly 80% in Q1), and high-value product additions.
• Customer concentration strategy: Addressing revenue concentration where top five customers account for 58.8% of revenue, management noted an average relationship tenure exceeding 10 years with top 20 customers, while new product segments will help diversify the client base.
• Working capital cycle: Net working capital days reduced from around 71 days in FY26 to 53 days in Q1 FY27 due to disciplined inventory control and aligned credit terms with large corporate clients.