Mamata Machinery Q1 FY27: Healthy Gross Margins, but Execution Delays Hit EBITDA

Management stated revenue fell due to slower execution as customers deferred machine deliveries, linked to higher polymer prices from the West Asia crisis increasing customers’ working capital needs.

Consolidated EBITDA was -470 lakhs with an EBITDA margin of -12.96%, and PAT was -347 lakhs, while gross margin remained above 61%.

The company reported machinery sales revenue for Converting (1,742 lakhs), Co-extrusion (352 lakhs) and Packaging (551 lakhs) for Q1 FY27.

For FY26, the product-wise revenue breakdown by percentage was Converting Machinery 47%, Co-Extrusion Machinery 15%, Packaging Machinery 21%, Attachments and Spares 14%, and After Sales 3%.

RecTech™ is the company’s recyclable film technology; management stated it received 100% Recyclability Certification in the European Union in August 2026 and is awaiting APR (USA) certification.

The company stated deliveries are seasonal and lumpy, with a 4-year average of 65% of annual revenue booked in H2; FY26 split was 39% in H1 and 61% in H2.