Prima Plastics revenue rises but quarterly profit declines

Prima Plastics Limited reported consolidated revenue from operations of Rs 37.56 crore for the quarter ended 30 September 2026, up from Rs 34.77 crore a year earlier, while profit for the period declined to Rs 3.12 crore from Rs 3.31 crore. Cost of materials consumed rose to Rs 23.98 crore from Rs 18.99 crore.

How did Prima Plastics perform in the September 2026 quarter?

Prima Plastics increased consolidated revenue from operations by Rs 2.79 crore year on year to Rs 37.56 crore in the three months ended 30 September 2026. Revenue was below Rs 40.11 crore in the preceding quarter ended 30 June 2026, while total income, including other income, was Rs 37.88 crore compared with Rs 34.90 crore a year earlier.

Profit for the period was Rs 3.12 crore, down Rs 18.88 lakh from Rs 3.31 crore in the September 2025 quarter. Profit attributable to owners of the parent declined to Rs 2.98 crore from Rs 3.05 crore, while profit attributable to non-controlling interests was Rs 14.44 lakh, compared with Rs 26.04 lakh a year earlier.

Basic and diluted earnings per share, or EPS, for continuing and discontinued operations were Rs 2.70 for the September 2026 quarter, against Rs 2.77 in the comparable prior-year quarter. Prima Plastics stated that quarterly EPS was not annualised; paid-up equity share capital was unchanged at Rs 11.00 crore, with a face value of Rs 10 per share.

Why did Prima Plastics’ profit decline despite higher revenue?

Prima Plastics did not provide a narrative explanation for the profit movement, but its cost of materials consumed increased by Rs 4.98 crore year on year to Rs 23.98 crore, exceeding the Rs 2.79 crore increase in revenue from operations. Total expenses rose to Rs 35.41 crore from Rs 31.66 crore, while profit before the joint venture’s share and tax fell to Rs 2.47 crore from Rs 3.24 crore.

Employee benefits expense increased to Rs 4.77 crore from Rs 4.23 crore, depreciation and amortisation rose to Rs 1.47 crore from Rs 1.32 crore, and purchases of stock in trade grew to Rs 1.31 crore from Rs 21.78 lakh. Other expenses were Rs 7.65 crore, compared with Rs 7.28 crore in the September 2025 quarter.

Changes in inventories resulted in a credit of Rs 4.00 crore in the September 2026 quarter, compared with a Rs 93.85 lakh credit a year earlier. Finance costs declined to Rs 23.03 lakh from Rs 55.45 lakh, but profit before the joint venture’s share and tax was Rs 77.45 lakh lower year on year.

How much did Prima Plastics’ joint venture add to earnings?

Prima Plastics recorded a Rs 2.43 crore share in profit of joint venture, net of tax, for the quarter ended 30 September 2026, up from Rs 1.44 crore a year earlier. The contribution compared with Rs 2.47 crore of profit before the joint venture’s share and tax, lifting consolidated profit before tax to Rs 4.89 crore from Rs 4.68 crore.

The joint venture was Prima Dee-Lite Plastics SARL, which the filing lists as held directly. The limited-review report states that Prima Plastics’ September-quarter share of the joint venture’s net profit after tax was Rs 2.43 crore and its share of other comprehensive income was Rs 85.05 lakh.

Tax expense was Rs 1.72 crore in the September 2026 quarter, compared with Rs 44.46 lakh a year earlier, and included a Rs 4.84 lakh adjustment for earlier years. Net profit after tax from continuing operations was therefore Rs 3.12 crore, compared with Rs 4.24 crore in the September 2025 quarter, despite the Rs 21.24 lakh increase in profit before tax after the joint-venture contribution.

What changed in Prima Plastics’ first-half results?

Prima Plastics generated Rs 77.66 crore in consolidated revenue from operations in the six months ended 30 September 2026, compared with Rs 69.59 crore in the corresponding six months of 2025. Net profit from continuing operations was Rs 6.57 crore, down from Rs 8.35 crore, while total profit for the period was Rs 6.57 crore versus Rs 6.79 crore.

Cost of materials consumed for the six-month period increased to Rs 43.67 crore from Rs 37.22 crore, and total expenses rose to Rs 69.01 crore from Rs 63.27 crore. Profit before the joint venture’s share and tax increased to Rs 9.27 crore from Rs 7.12 crore, alongside total income of Rs 78.28 crore versus Rs 70.39 crore.

The joint venture’s six-month profit contribution rose to Rs 4.66 crore from Rs 3.95 crore, taking consolidated profit before tax to Rs 13.92 crore from Rs 11.07 crore. Tax expense increased to Rs 7.30 crore from Rs 2.72 crore, including a Rs 4.84 lakh adjustment for earlier years, while continuing-operations profit after tax declined by Rs 1.78 crore.

How do discontinued operations affect Prima Plastics’ comparison?

Prima Plastics reported no profit or loss from discontinued operations in the September 2026 quarter or six-month period. In the September 2025 quarter, discontinued operations recorded a Rs 92.41 lakh loss after tax, reducing total profit for that period to Rs 3.31 crore even though continuing-operations profit was Rs 4.24 crore.

For the six months ended 30 September 2025, discontinued operations reported a Rs 1.56 crore loss after tax, reducing reported total profit to Rs 6.79 crore from continuing-operations profit of Rs 8.35 crore. The reported six-month total-profit comparison therefore includes a prior-year discontinued loss that was absent in the 2026 period.

Other comprehensive income was Rs 1.58 crore in the September 2026 quarter, compared with Rs 4.32 crore a year earlier. Exchange differences on translating foreign operations were Rs 73.22 lakh and the equity-accounted investee’s share of other comprehensive income was Rs 85.05 lakh, producing total comprehensive income of Rs 4.71 crore.

Conclusion

Prima Plastics reported higher consolidated sales in the September 2026 quarter and first half, but lower quarterly profit for the period and lower first-half continuing-operations profit after tax. The joint venture added Rs 2.43 crore in the quarter and Rs 4.66 crore in six months, while material-consumption costs increased to Rs 23.98 crore and Rs 43.67 crore respectively.

The filing does not disclose a profit target, operating plan or date for the next results announcement. A disclosed matter to watch is the joint venture and overseas subsidiary reporting process: their financial results were prepared under accounting principles in their respective countries, converted by Prima Plastics’ management to Indian accounting principles, and considered in the limited review.