MMP Industries Reports 12% YoY Revenue Growth and 66% YoY PAT Growth in Q4FY26
MMP Industries Limited, a manufacturer specializing in aluminium powders, aluminium foils, and aluminium conductors, announced its audited financial results for the fourth quarter (Q4FY26) and the full fiscal year (FY26) ended March 31, 2026.The company’s performance in Q4FY26 saw Total Revenue reach ₹2,496 Mn, marking a 12% increase compared to Q4FY25. Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹215 Mn, up 17% year over year (YoY). Profit After Tax (PAT) recorded ₹180 Mn, reflecting a significant 66% YoY jump from ₹109 Mn in Q4FY25.
Financial Highlights (₹ Mn)
The consolidated financial performance for Q4FY26 and FY26 is detailed below:| Particulars | Q4FY26 | Q3FY26 | QoQ% | Q4FY25 | YoY% | FY26 | FY25 | YoY% |
|---|---|---|---|---|---|---|---|---|
| Total Revenue | 2,496 | 2,039 | 22% | 2,231 | 12% | 8,253 | 6,929 | 19% |
| EBITDA | 215 | 182 | 18% | 184 | 17% | 663 | 649 | 2% |
| EBITDA Margin | 8.6% | 9.0% | -33 bps | 8.3% | 36 bps | 8.0% | 9.4% | -133 bps |
| PAT | 180 | 114 | 58% | 109 | 66% | 310 | 389 | -20% |
| PAT Margin | 7.2% | 5.6% | 160 bps | 4.9% | 234 bps | 3.8% | 5.6% | -185 bps |
Consolidated Q4FY26 highlights showed:
- Total Revenue at ₹2,496 Mn, up 12% from ₹2,231 Mn in Q4FY25.
- EBITDA stood at ₹215 Mn, an increase of 17% compared to ₹184 Mn in Q4FY25.
- PAT increased by 66% to ₹180 Mn from ₹109 Mn in Q4FY25.
For the full year, MMP Industries reported:
- Total Revenue of ₹8,253 Mn, reflecting a 19% increase over FY25 (₹6,929 Mn).
- Consolidated EBITDA was ₹663 Mn, up 2% compared to ₹649 Mn in FY25.
- PAT totaled ₹310 Mn, a decrease of 20% compared to ₹389 Mn in FY25.
Business Segment Performance
The company's revenue growth across its core segments demonstrated varied performance during FY26:| Particulars (₹ Mn) | Q4FY26 | Q3FY26 | QoQ% | Q4FY25 | YoY% | FY26 | FY25 | YoY% |
|---|---|---|---|---|---|---|---|---|
| Aluminium Powders | 1,548 | 1,256 | 23% | 1,283 | 21% | 5,040 | 4,384 | 15% |
| Aluminium Foils | 651 | 522 | 25% | 569 | 14% | 2,152 | 1,544 | 39% |
| Aluminium Conductors | 276 | 244 | 13% | 373 | -26% | 1,000 | 967 | 3% |
| Polymer Insulator | 13 | 5 | 160% | 0 | - | 23 | 0 | - |
| Others | 8 | 11 | -27% | 6 | 33% | 38 | 34 | 12% |
Revenue growth was notable in the Aluminium Foils segment, which reached ₹2,152 Mn for FY26, marking a 39% increase from ₹1,544 Mn in FY25. Similarly, Aluminium Powders generated ₹5,040 Mn for FY26, growing 15% from ₹4,384 Mn in FY25.
Divisional Updates and Outlook
Aluminium Powders and Foils:The Aluminium Powders division showed resilient performance, with revenue growing 15% for the full year. This growth was attributed to healthy domestic demand, improved exports, and a better product mix. The Aluminium Foils segment recorded strong revenue growth of 39% for FY26, supported by increased capacity utilization and better realisations.
Aluminium Conductors and Cables:
The Aluminium Conductors and Cables division reported 3% YoY revenue growth for FY26. The company secured BIS approval for AL59 bare conductors, a segment expected to gain traction starting H1FY27. Furthermore, the strategic pilot initiative for LT cables at the Bhandara facility is on track, with a product launch expected in June 2026.
Polymer Insulator:
The wholly owned subsidiary, MMP ELECTRICALS PRIVATE LIMITED (MEPL), successfully completed Phase II capacity expansion. Key operational improvements included the in-house development of the FRP rod manufacturing line, enhancing quality control and reducing external sourcing dependence.
MMP Cables Private Limited:
The company is progressing with the construction of an 18,000 MTPA aluminium wire rod facility. Initial machinery installation is expected to commence in July 2027, with plant trials anticipated during H2FY27.
Solar Power:
A group captive solar park of approximately 7 MW is under development under the open access scheme, with land acquisition complete and commissioning targeted for H1FY27.
Guidance for FY27
Looking ahead to FY27, the company provided guidance based on current market trends.- Aluminium Powders: The company forecasts FY27 revenue growth of approximately 13% to 15%, supported by sustained export traction and focusing on operational efficiencies. It also anticipates a 50% increase in exports in FY27, driven by key enquiries from West Asia, Europe, and the US.
- Aluminium Foils: The Aluminium Foils business is expected to deliver 15% YoY growth in FY27, benefiting from strong positioning in the pharmaceutical packaging segment and operational improvements.
- Aluminium Conductors and Cables: The division expects meaningful traction in the bare conductor segment, supported by the BIS approval.
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MMP Industries Limited is primarily engaged in the manufacture of aluminium products, including aluminium powders, aluminium foils, and aluminium conductors/cables.
MMP Stock Price Movement
On Friday, MMP Industries Limited shares edged higher, settling at ₹287.33, representing a solid 1.22% gain for the period. The stock finished the session with a total traded volume of 43,899 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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