Filatex India Ltd

Financial Performance

• Q1 FY27 revenue INR 1,145 crores, up 16.3% from Q4 FY26.
• Sales volume 89,872 MT, roughly flat versus 89,841 MT in Q4 FY26.
• PBT INR 65.87 crores; PAT INR 49.1 crores.
• PAT rose 20.7% YoY to INR 49.1 crores.
• Production 84,075 MT, down from 94,996 MT in Q1 FY26.
• Management described quarter as resilient amid volatility in raw materials.

Capex and Ecosis Update

• Capex program around INR 690 crores; 50% complete by Sep 2026.
• Brownfield PFI expansion to raise FDY/POY/DTY capacities with higher value-added mix.
• Ecosis capex around INR 700 crores; EBITDA target INR 80–85 crores.
• Ecosis to commence operations by October end; stabilization 3–5 months.
• FY28 Ecosis utilization expected above 80%, nearing 100% by year-end.
• Two more Ecosis plants of 1.5 lakh TPA each planned in 2–3 years.
• Spain subsidiary established to access European forums on circular economy.

Industry Outlook and Guidance

• Domestic PTA capacity additions total about 2.4 million tonnes per annum.
• PTA/MEG import duty is 5% plus 10% surcharge, effectively 5.5%.
• FY27 top-line guidance around INR 4,500 crores; FY28 around INR 4,800 crores.
• Ecosis EBITDA guidance INR 80–85 crores; FY27 utilization timeline not fixed.
• Two additional 1.5 lakh TPA plants planned in 2–3 years; EBITDA margin at least 30%.
• EU/UK trade deals expected to boost export competitiveness; circular economy opportunities.
• About 15–20% of Ecosis output under NDA; Decathlon is a confirmed partner.

Balance Sheet and Cash Flow

• End of quarter net debt around INR 30–40 crores.
• Year-end peak net debt seen at INR 150–200 crores.
• Gross debt expected around INR 350–370 crores; net debt around INR 150–200 crores.
• Free cash flow generation currently in the range of INR 150–200 crores.

Q&A Highlights

• Ecosis stabilization timeline of 3–5 months; full utilization target for FY28.
• 55,000 PFY expansion could lift topline by around INR 400 crores.
• Commitments: around 15–20% of Ecosis output under NDA; Decathlon disclosed.
• Spain subsidiary aims to access EU policy forums; not a sales hub.
• FY27 top-line guidance depends on raw-material prices; precision uncertain.

Audio conference call recording

• Audio recording of Q1FY27 earnings call (July 31, 2026) is on the company's website per Reg 30(6) LODR.

Business Overview

• Integrated PFY producer with melt-to-yarn value chain from polymer to DTY.
• Two units at Dahej (Gujarat) and Dadra & Nagar Haveli.
• 417,240 TPA capacity with >90% utilisation.
• DSIR-approved R&D centre and in-house chemical recycling capability.
• Credit rating AA- / A1+.
• Domestic and export markets across PFY segments.

Operational Highlights

• Q1FY27 revenue ₹1,145 Cr; EBITDA ₹77.92 Cr; PAT ₹49.14 Cr.
• FY26 standalone: revenue ₹4,160.5 Cr; EBITDA ₹346.5 Cr; PAT ₹183.9 Cr.
• Production 84,076 MT; Sales 89,972 MT in Q1FY27.
• MoUs signed with American & Efird Global and Decathlon India for Ecosis trials.

Strategic Initiatives & Outlook

• Vision 2028: ₹690 Cr Growth Transformation (FY26-27).
• PFY expansion capex ₹235 Cr; adds ~55,000 TPA.
• ECOSIS platform capex ₹300 Cr; 26,750 TPA; commissioning Sept 2026.
• Renewable energy capex ₹30 Cr; captive power share rising to ~55%.
• Steam distribution capex ₹85 Cr; EBITDA ~₹60–65 Cr p.a.
• Automation capex ₹40 Cr; saves ~₹4 Cr p.a.; reduces ~180 workers.
• Exports growth supported by India-EU FTA and US tariff reductions.

Risks & Mitigation

• Near-term headwinds from West Asia tensions elevating PTA/MEG input costs.
• Customs duty relief on PTA/MEG (three months) provided near-term relief.
• EU-US trade dynamics support medium-to-long-term export growth.
• Strong liquidity and balance sheet to withstand cycle.

Governance & Leadership

• From the Chairman's desk: emphasizes strong Q1FY27 performance and favorable tailwinds.
• ESG and Ecosis platform anchored by DSIR-recognised R&D and circularity initiatives.

Financial results approved

• Standalone Q1 FY27: Revenue ₹1,145.3 cr; PAT ₹49.14 cr; EBITDA ₹77.92 cr.
• Consolidated Q1 FY27: Revenue from operations ₹1,145.3 cr; PAT ₹48.52 cr.
• Earnings Release enclosed; results published in newspapers.

Audit and reporting

• Independent Auditor's Review reports on standalone and consolidated results issued with unmodified conclusions.

Corporate actions and accounting

• Rs 10 crore additional investment via rights issue in Ecosis Limited; total investment Rs 64.98 crore.
• Currency presentation changed from Rs in Lakhs to Rs in Crores from June 2026; prior periods regrouped.

Financial performance

• Revenue from operations: ₹1,145.3 Cr; QoQ +16.2%.
• Total income: ₹1,155.31 Cr; PAT: ₹49.14 Cr.
• EBITDA: ₹77.92 Cr; EBITDA margin: 6.80%.
• EPS (basic and diluted): ₹1.11.
• Production: 84,076 MT; Sales: 89,972 MT.

Capex & capacity expansion

• Recycling project ₹300 Cr; 26,750 TPA; commissioning Oct 2026.
• PFY capacity expansion ₹235 Cr; ~55,000 TPA; commissioning Sep 2026.
• Renewable energy transition to 55% by Nov 2026 (from ~26%).
• MoUs with American & Efird Global and Decathlon for recycled yarn trials.

Outlook & industry backdrop

• Tailwinds: India-EU FTA, lower US tariffs, Europe’s sustainability-led sourcing.
• Raw material costs volatile; pressures easing from June 2026.
• PTA/MEG import duties relief for three months to 15 Jul 2026.
• Long-term growth supported by capex progress and circular textile solutions.

Business model & segments

• Single reportable segment: manufacturing and trading of polyester goods.
• Group operates in one reportable segment per IAS 108.

Meeting Details

• Date and time: Friday, 31 July 2026 at 4:30 PM IST
• Type and mode: group conference call; virtual (dial-in)
• Organizer: Filatex India Limited

Participants

• MD & Chairman
• Chief Visionary Officer
• CFO
• Director, Ecosis Ltd.

Purpose

• Discuss Q1FY27 results
• Earnings conference call for analysts and investors

Additional Notes

• Dial-in numbers provided; pre-registration to join with diamond pass

Filatex India Limited — Trading Window closed from July 01, 2026 till the end of 48 hours after declaration of Unaudited Financial Results (Standalone and Consolidated) for the quarter ended June 30, 2026.

Meeting Details

• Board meeting scheduled for 15 May 2026.
• Time and location were not disclosed.

Key Agenda Items

• Approve standalone and consolidated audited financial results for quarter and year ended 31 March 2026.
• Consider recommending dividend on equity shares for financial year ending 31 March 2026.

Other Notes

• Trading window closed from 1 April 2026 until 48 hours after results declaration.