National Plastic PBT falls to Rs 96.86 lakh in September

National Plastic Industries Limited reported profit before tax of Rs 96.86 lakh for the quarter ended September 30, 2026, down from Rs 161.84 lakh a year earlier. Total income rose to Rs 23.21 crore, but total expenses increased to Rs 22.24 crore, narrowing the quarterly profit outcome.

Why did National Plastic’s September-quarter PBT decline?

National Plastic’s profit before tax fell by Rs 64.98 lakh year on year because the increase in total expenses exceeded the increase in total income. Total income was Rs 23.21 crore in the September 2026 quarter, compared with Rs 22.78 crore in the September 2025 quarter, while total expenses rose to Rs 22.24 crore from Rs 21.17 crore.

The September 2026 statement reported no exceptional or extraordinary items. Profit before tax after exceptional items was therefore Rs 96.86 lakh, the same as profit before tax before exceptional items, compared with Rs 161.84 lakh in the corresponding quarter of 2025.

Revenue from operations was Rs 23.19 crore in the latest quarter, compared with Rs 22.76 crore a year earlier. Other income was Rs 1.75 lakh, down from Rs 2.36 lakh in the September 2025 quarter, a decrease of Rs 61,000 alongside the increase in operating revenue.

Which September-quarter costs increased at National Plastic?

National Plastic’s cost of materials consumed increased to Rs 18.20 crore in the September 2026 quarter from Rs 14.24 crore in the year-earlier period. The Rs 3.96 crore increase was the largest disclosed movement among quarterly cost lines, while total expenses increased by Rs 1.07 crore.

Changes in inventories of finished goods and work-in-progress were negative Rs 4.62 crore, compared with negative Rs 1.29 crore in the September 2025 quarter. This expense-line adjustment reduced reported expenses in both quarters, and the reduction was Rs 3.34 crore larger in the latest period.

Employee-benefit expense rose to Rs 1.72 crore from Rs 1.00 crore, while depreciation and amortisation increased to Rs 72.65 lakh from Rs 60.11 lakh. Other expenses rose to Rs 5.78 crore from Rs 5.11 crore, whereas finance cost declined to Rs 43.24 lakh from Rs 51.77 lakh.

How did National Plastic’s first-half earnings compare?

National Plastic reported profit before tax of Rs 1.59 crore for the six months ended September 30, 2026, down from Rs 2.47 crore in the prior-year six-month period. The decline was Rs 87.95 lakh as total income fell to Rs 38.74 crore from Rs 44.78 crore and total expenses declined to Rs 37.15 crore from Rs 42.30 crore.

The September 2026 quarter contributed Rs 96.86 lakh of first-half profit before tax, after Rs 62.53 lakh in the quarter ended June 30, 2026. Quarterly profit before tax therefore increased by Rs 34.33 lakh sequentially, although the six-month outcome remained below the Rs 2.47 crore reported for the first half of 2025.

Total income rose sequentially to Rs 23.21 crore in the September quarter from Rs 15.53 crore in the June quarter. Total expenses also increased to Rs 22.24 crore from Rs 14.91 crore, a rise of Rs 7.33 crore, compared with the Rs 7.68 crore increase in income.

What were National Plastic’s net profit and earnings per share?

National Plastic reported net profit of Rs 96.86 lakh for the September 2026 quarter, compared with Rs 161.84 lakh in the September 2025 quarter. Total comprehensive income was also Rs 96.86 lakh in the latest quarter, with no other comprehensive income reported for that period.

Basic and diluted earnings per share were Rs 1.06 each for the September 2026 quarter, compared with Rs 1.77 each a year earlier. The company stated that the quarterly earnings-per-share figures were not annualised and that each equity share has a face value of Rs 10.

For the six months ended September 30, 2026, basic and diluted earnings per share were Rs 1.75 each, compared with Rs 2.71 each in the prior-year period. Equity share capital was Rs 9.13 crore at September 30, 2026, unchanged from March 31, 2026.

How did National Plastic’s balance sheet change by September?

National Plastic reported total assets of Rs 91.74 crore at September 30, 2026, compared with Rs 81.95 crore at March 31, 2026. Non-current assets increased to Rs 36.87 crore from Rs 35.06 crore, while current assets rose to Rs 54.87 crore from Rs 46.89 crore.

Inventories rose to Rs 29.84 crore at September 30 from Rs 26.39 crore at March 31, while trade receivables increased to Rs 12.79 crore from Rs 12.21 crore. Cash and cash equivalents declined to Rs 1.85 lakh from Rs 5.99 lakh, and capital work in progress was Rs 23.28 lakh compared with no reported March 31 balance.

Total equity was Rs 47.12 crore at September 30, 2026, compared with Rs 45.53 crore six months earlier. Non-current borrowings increased to Rs 16.22 crore from Rs 5.80 crore, while current borrowings declined to Rs 12.27 crore from Rs 16.35 crore; total liabilities rose to Rs 44.62 crore from Rs 36.42 crore.

Conclusion

National Plastic remained profitable in the September 2026 quarter, but profit before tax fell to Rs 96.86 lakh from Rs 161.84 lakh despite a Rs 42.07 lakh increase in total income. Materials consumed increased to Rs 18.20 crore and other expenses reached Rs 5.78 crore, while first-half profit before tax declined to Rs 1.59 crore from Rs 2.47 crore.

The November 5, 2026 filing does not disclose an earnings target, operating plan or scheduled corporate event beyond approval of the unaudited results. Subsequent disclosures will show whether operating revenue, which reached Rs 23.19 crore in the September quarter, can expand alongside materials consumption and inventories of Rs 29.84 crore.