Filatex Q1FY27: Revenue rises, margins soften, and Vision2028 moves from plan to build

Standalone revenue from operations was INR 1,145.30 crore, EBITDA was INR 77.92 crore (6.80 percent margin), and PAT was INR 49.14 crore.

Management attributed the lower quarterly margin primarily to very weak margins in April amid sharp raw material price increases and cautious buying, which later improved in May and June.

Ecosis is planned at 26,750 TPA. The presentation cites commissioning expected in October 2026, and management indicated start-up around end October or early November 2026 with 3 to 5 months stabilization.

Management indicated FY28 utilization should be above 80 percent for the year as a whole, progressing toward close to 100 percent by the end of FY28.

Key projects include Ecosis (capex about INR 300 crore, EBITDA about INR 80 to 85 crore steady state), PFY expansion (capex about INR 235 crore, EBITDA about INR 60 crore), renewable energy transition (capex about INR 30 crore, savings about INR 18 to 20 crore per year), steam distribution (capex about INR 85 crore, EBITDA about INR 60 to 65 crore), and automation (capex about INR 40 crore, savings about INR 4 crore per year).

The presentation shows DTY 40.39 percent, FDY 30.63 percent, POY 27.92 percent, narrow woven fibres 0.49 percent, polyester chips 0.29 percent, and polypropylene yarns 0.28 percent.

Management indicated debt at the end of the quarter was around INR 200 crore, and peak net debt by end of FY27 could be around INR 150 to 200 crore.