Naman Industries Proxima Limited FY26: Revenue Softens, Margins Reset, and a New Capacity Cycle Begins

FY26 revenue from operations was 142.5 crore, EBITDA was 3.1 crore, and PAT was -2.2 crore.

The presentation attributes the decline to a slowdown in high-value retail project orders and muted capex by key institutional clients impacting order book conversion.

The presentation cites higher cost of goods sold (60.2 percent of revenue from operations), a 30.5 percent rise in employee costs, and an unfavorable segment mix shift toward lower-margin industrial revenue.

For FY26, the presentation shows Retail 61 percent, Industrial 30 percent, Other Misc 5 percent, Government 2 percent, and Exports 0 percent of revenue.

The company plans a new factory in Wada, Maharashtra with Phase 1 capex estimated around 40 crore and expects it to be operational in 12 to 18 months.

Management states current capacity peak revenue potential of 175 to 180 crore and post-expansion expected revenue of 270 to 300 crore.

The presentation reports industrial segment revenue from the top 10 customers at 74 percent in FY26 (70 percent in FY25).