Atharva Poly-Plast Ltd (ATHARVA) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- A one-month lag in raw material price pass-through suppressed H1 margins; INR 1.45 crores in price hikes will be recovered and booked in Q3 FY27.
- The plant will reach its peak operational capacity of 88% by FY28, with future capex being modular additions of machinery in FY28-29.
- A co-designed micro-irrigation project is advancing to production, with the customer funding tooling, establishing a new high-value vertical for the company.
Performance Overview
- Successfully listed on the BSE SME platform in July 2026, marking a significant milestone in the company's journey.
- Transitioned business model from a conventional contract manufacturer to a design and development-led manufacturing partner.
- Achieved strong year-over-year growth in H1 FY27, driven by performance across its key business verticals.
- Strengthened the balance sheet significantly post-IPO, with a substantial increase in net worth and a reduction in total borrowings.
- Received recognition as a Steelcase premium supplier for Asia and a MillerKnoll gold supplier in 2025, underscoring strong customer relationships.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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Tone & Disclosure
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