Knack Packaging Ltd(KNACK)

NSE: KNACKBSE: 544814

₹ 203.85+0.00%refreshed 26 Oct, 03:57 pm ISTMarket cap: ₹ 2,494 crNext results: 27 Oct 2026Website: knackpackaging.comUpdated: 27 Oct 2026

About

Knack Packaging Limited manufactures flexible woven polypropylene packaging - primarily BOPP laminated bags and pinch-bottom bags - for food, feed, and industrial customers. In Q1 FY27 the company reported consolidated revenue of INR 2,647.71 Mn, a 40.5% year-on-year increase. It exports to 74 countries across six continents, with exports contributing ~56% of revenue in FY26.^[1]

Products

Core products are BOPP laminated woven polypropylene bags (PLWPP bags) and pinch-bottom bags; pinch-bottom bags offer six-side branding and command higher margins than standard laminated bags.^[1][2]
Pinch-bottom bag share of sales volume reached 22 - 23% in Q1 FY27, up from 19 - 20% in the prior year and ~10% in FY23.^[1]

Manufacturing capacity and utilisation

Total installed capacity (including a newly leased rented facility of ~5,040 MT/year added ~1 month before the Q1 FY27 call) stands at 48,000+ MTPA as of Q1 FY27.^[1]
Capacity utilisation was ~91% in Q1 FY27.^[1]
A 50/50 JV plant (SayemKnack, with SACOS YEmpaques Internacionales) in Mexico was commissioned in April 2026, extending manufacturing internationally.^[1]

Key operating numbers

Sales volume was 10,940 MT in Q1 FY27, up 20.90% year-on-year.^[1]
EBITDA per kg rose to ₹54/kg in Q1 FY27 from ₹45/kg in FY26.^[1]
Order book stood at ₹130 crore as of Q1 FY27.^[1]
Working capital cycle was 86 days in Q1 FY27.^[1]

Customers and distribution

Exports reached 74 countries across six continents in Q1 FY27, up from 71 countries in FY26; export contribution was 56.30% of revenue in FY26.^[1]
Cargill accounts for 12 - 16% of total revenue; the relationship grew from INR 6 crore / 40 SKUs in 2020 to INR 140+ crore / 600+ SKUs across 8 countries by Q1 FY27.^[1]
Customer retention rate was 93.75% in FY26.^[1]
45 - 50% of customers operate on a conversion-cost (raw-material pass-through) model; the remainder are small buyers for whom packaging is less than 1% of product cost, with prices adjusted same-day as polymer moves.^[1]

Expansion and capex

A new IPO-funded owned manufacturing facility is targeted for commissioning in October 2027, which would lift total installed capacity to ~70,000 MTPA from the current 48,000+ MTPA.^[1]
Solar panel installations are planned for the new facility to reduce dependence on conventional energy; solar energy already contributed ~1.1% electricity cost reduction in Q1 FY27.^[1]
Two new pinch-bottom bag machines were added in Q4 FY26 and are now contributing to the higher pinch-bottom mix; further ramp-up of this segment is targeted through FY27.^[1]

Recent developments

On 2 October 2026, Knack received a new order and contract renewal worth ₹150 crore per annum from a leading global animal nutrition and feed company in the USA, covering supply of 60 million bags annually through December 2028.^[2]
A rented plant of ~5,040 MT/year capacity was leased approximately one month before the Q1 FY27 earnings call to bridge production capacity until the new owned plant is commissioned in October 2027.^[1]

Market Cap

₹2,494 Cr

High / Low

₹222 / 171

Promoter holding

70.6%

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