Rajshree Polypack FY26 Results: PAT up 19%, margins improve

Key takeaway from FY26 and Q4FY26

Rajshree Polypack’s FY26 numbers showed modest revenue growth but a sharper improvement in profitability. Revenue rose to ₹332.18 crore from ₹329.74 crore in FY25, while EBITDA and profit after tax (PAT) grew at a faster pace. In Q4FY26, the company reported higher margins compared with the year-ago quarter, even as it flagged geopolitical disruption affecting raw material prices and exports.

The company’s disclosures also highlighted a changing mix across export and domestic markets. Exports grew strongly for the full year, while domestic revenue declined in FY26 but recovered in Q4FY26. On the product side, injection moulding continued to scale up, supported by capacity expansion.

FY26 financial performance: revenue steady, profitability higher

For FY26, Rajshree Polypack reported revenue of ₹332.18 crore, a 0.74% increase from ₹329.74 crore in FY25. EBITDA rose to ₹50.97 crore from ₹46.30 crore, up 10.1% year on year. The EBITDA margin improved to 15.34% from 14.04%, indicating better operating leverage and/or cost control.

PAT increased to ₹17.22 crore in FY26 from ₹14.46 crore in FY25, a 19.1% rise. PAT margin improved to 5.18% from 4.38%. The company’s full-year performance therefore showed that even with limited top-line growth, a higher share of revenue translated into operating profit and net profit.

Q4FY26 numbers: margin expansion stood out

In Q4FY26, revenue came in at ₹91.62 crore compared with ₹90.06 crore in Q4FY25. EBITDA increased to ₹15.70 crore from ₹12.31 crore, and the EBITDA margin improved to 17.14% from 13.67%. PAT rose to ₹6.38 crore from ₹3.63 crore, with PAT margin improving to 6.96% from 4.03%.

A separate data point in the provided text also states total income of ₹92.87 crore for Q4FY26, and revenue of ₹92.87 crore in Q4FY26 in another place. Additionally, one section labels FY26 figures as “for the quarter”, stating revenue from operations of ₹332.18 crore and net profit of ₹17.25 crore for the quarter ended March 31, 2026. Since the same source set lists ₹332.18 crore as FY26 revenue and ₹17.22 crore as FY26 PAT, readers should treat the Q4 numbers as ₹91.62 crore revenue and ₹6.38 crore PAT, consistent across multiple lines of the text.

Exports vs domestic: two different trends in FY26

Exports were described as a key growth driver in FY26. Export revenue increased 30.1% year on year to ₹70.08 crore in FY26 from ₹53.87 crore in FY25, despite “geopolitical headwinds”. In Q4FY26, export revenue was ₹14.09 crore versus ₹19.55 crore in Q4FY25, with the decline attributed to geopolitical disruption.

Domestic revenue stood at ₹262.10 crore in FY26 compared with ₹275.86 crore in FY25. However, domestic revenue increased in Q4FY26 to ₹77.53 crore from ₹70.50 crore in Q4FY25, which the company described as a recovery.

Product mix: injection moulding leads growth

Injection moulding was highlighted as the fastest-growing segment. FY26 revenue from injection moulding increased to ₹63.65 crore from ₹42.02 crore in FY25, a 51.48% year-on-year increase. The company said capacity expanded by 45.45% to 4,800 MT, with plans for an additional 1,000 MT of toll manufacturing capacity.

Thermoformed packaging was described as stable at ₹199.73 crore in FY26, with Q4FY26 revenue in this segment up 9.72% year on year (no absolute Q4 segment revenue was provided). Sheet sales revenue declined to ₹65.99 crore in FY26 as the company reduced focus on low-margin sales.

Joint venture update disclosed for Q4FY26

The text notes that for Q4FY26, the joint venture recorded revenue of ₹17.01 crore and a net loss of ₹3.25 crore. No corresponding year-ago comparison was provided in the same section.

Timeline: results date and conference call

The provided material states that Rajshree Polypack Q4 FY26 results were declared on May 29, 2026. It also states that the earnings conference call to discuss Q4 and FY2026 results was held on June 02, 2026, and that the audio recording is available.

Key financial table: FY26 vs FY25 and Q4FY26 vs Q4FY25

Market context cited in the material

The text also links Q4FY26 operating conditions to India’s macroeconomic backdrop, mentioning GDP growth above 6.5% and the RBI’s supportive monetary stance. It also references central government capex of ₹11.21 lakh crore budgeted for FY27 and stable inflationary conditions as part of the broader environment during the quarter.

Why this quarter mattered for investors tracking margins

Across the data provided, the most consistent signal is margin expansion in Q4FY26 and for FY26 as a whole. EBITDA margin rose year on year in both FY26 and Q4FY26, and PAT margin also improved across both periods. At the same time, the market-mix detail shows that full-year export growth was strong, while the domestic business saw a full-year decline but improved in the last quarter.

The segment detail matters because injection moulding is growing much faster than the company’s overall revenue, and capacity has increased to 4,800 MT with an additional 1,000 MT toll manufacturing capacity planned. Meanwhile, sheet sales were deprioritised due to lower margins, which aligns with the reported focus on profitability.

Conclusion

Rajshree Polypack closed FY26 with revenue of ₹332.18 crore and higher profitability, led by improved EBITDA and PAT margins. Q4FY26 showed a sharper step-up in margins and PAT, while export revenue faced disruption during the quarter despite strong full-year growth. The company has already held its earnings conference call on June 02, 2026, following the May 29, 2026 results declaration.