MMP Industries Q4 FY26: Record Revenue, Steadier Margins, and a Bigger Bet on Electrical Infra

FY26 revenue from operations was INR 824.0 crore, EBITDA was INR 66.3 crore (8.0 percent margin) and PAT was INR 31.0 crore (3.8 percent margin).

FY26 segment revenues were aluminium powders INR 504 crore, aluminium foils INR 215 crore, aluminium conductors and cables INR 100 crore, and others INR 6.1 crore.

Management guided FY27 revenue growth of around 13 to 15 percent for aluminium powders and around 15 percent for aluminium foils, with gradual margin improvement in foils.

Management stated Phase I and Phase II are fully operational with limited balancing capex pending. Approvals from major EPC contractors and transmission companies including Power Grid are expected in Q2FY27, with meaningful ramp up expected from Q3FY27. CFO estimated FY27 revenue of INR 18 to 20 crore and FY28 revenue of INR 45 to 50 crore.

Management stated the April 2025 fire incident at the Umred facility resulted in an estimated revenue loss of INR 45 to 50 crore and EBITDA impact of about INR 7 to 8 crore during FY26.

The company currently meets about 20 percent of energy needs from a 5.5 MW solar roof plant and is developing a 7 MW group captive solar park with capex of INR 30 crore, targeted for commissioning in H1 FY27. The company targets 40 to 50 percent renewable energy share in 3 to 4 years and carbon neutrality by 2030.