Kanpur Plastipack Ltd(KANPRPLA)

NSE: KANPRPLABSE: 507779

₹ 227.95-2.50%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 558 crNext results: 27 Oct 2026Website: www.kanplas.comUpdated: 24 Oct 2026

About

Kanpur Plastipack Ltd, established in 1971, makes industrial bulk packaging and technical textiles: FIBC bulk bags, PP woven fabrics, PP multifilament yarns, small bags and UV masterbatches. It describes itself as among India's leading manufacturers and exporters of industrial bulk packaging. Exports make up 75% of manufacturing revenue, with customers in more than 40 countries. The company reported revenue of 718.76 crore rupees in FY26.^[1][2]

Business segments

Manufacturing Division: Rs 591.43 Cr revenue, 80.9% of the total, in FY26.^[3]
Trading Division: Rs 139.89 Cr revenue, 19.1% of the total, in FY26. Management says trading depends on market opportunities and the company does not plan to grow it.^[3]
Trading profit was ₹2.93 crores in Q1 FY27, up from ₹1.25 crores in Q1 FY26.^[4]
The company exited its CPP business in FY25. The FY26 annual report shows CPP as a discontinued operation.^[1]

Products and product mix

The portfolio covers FIBCs, PP woven fabrics, PP multifilament yarns, small bags and UV masterbatches (FY26).^[1]
Share of manufacturing revenue in 9M FY26: FIBC 54%, fabric 28%, multifilament 10%, others 8%.^[5]
The company plans to raise FIBC to 70-75% of manufacturing revenue and cut fabric to about 10% over the next couple of years.^[5]
FIBC EBITDA margin was 12.5-13.5% in Q3 FY26, compared with 7% for fabric.^[5]
Commercial production and sales of premium PP Taslan yarn began in Q1 FY27 through the ESSEKAN joint venture. The yarn holds GRS and OEKOTEX certifications.^[4]
The company says it was one of the first FIBC companies globally to receive a BRCGS A+ grade for packaging materials.^[1]

Operations and capacity

The company runs 4 fully integrated manufacturing facilities, in Kanpur (Panki Industrial Area, Udyog Kunj) and Kanpur Dehat (Gajner Road), as of FY26.^[1]
Installed FIBC capacity is 18,000 MT/year (FY26). In FY26 the company dispatched 14,352 MT and produced about 15,000 MT, about 83% utilisation.^[6]
FIBC production was 3,000 MT in Q1 FY27, down from 3,500 MT in Q4 FY26 and 3,800 MT in Q3 FY26. The fall was due to disruptions in polymer supply and labour.^[4]
FIBC Unit 3 reached 100 tons of production in March 2026, a run rate of 1,200 MT/yr.^[6]
Solar power met more than 60% of energy needs in Q1 FY27, up from 53% in Q2 FY26. Management puts the annual saving at about ₹3-5 crores.^[4]
Volumes at the IOCL Dealer Operated Polymer Warehouse operations were 39,583 MT in FY26, up from 23,925 MT in FY25. A second warehouse, in Bareilly, began operating during FY26, adding to the one in Kanpur.^[1]

Raw materials and pricing

Polypropylene prices rose from USD1,000/ton to about USD1,700/ton in Q4 FY26, a 65% increase, after supply disruptions linked to the Iran conflict.^[6]
Compared with Q4 FY26, average selling price rose 31% in Q1 FY27 while average raw material price rose 18%.^[4]
Customer order lead times shortened from 6-8 weeks to 3-4 weeks in Q4 FY26 as customers placed smaller orders more often.^[6]

Customers and export markets

Exports made up 75% of manufacturing revenue in FY26, with customers in more than 40 countries.^[1]
Export mix in FY26: Europe 56.5%, South America 21.8%, North America 16.9%. North America was about 21% the year before.^[6]
Europe made up about 60% of the export mix in Q1 FY27.^[4]
In FY26 almost 75% of PP fabric was exported to South America, and Europe accounted for about 72% of the FIBC market.^[1]
The company entered the Japanese market during FY26.^[1]
Repeat business from end users was 80-85% in Q3 FY26.^[5]

Expansion and capex

About ₹107 Cr of projects (non-woven, FIBC, weaving and multifilament yarn capacity) are due for completion by September 2026, partly funded by a ₹40 Cr Yes Bank term loan (FY26 annual report).^[1]
The board approved ₹105.26 cr of capex in Q2 FY26: ₹47.22 cr for FIBC at Unit 3 and ₹58.04 cr for a needle-punch non-woven greenfield plant. Funding: ₹70.26 cr from internal accruals and ₹35 cr from term loans.^[7]
FIBC Unit 3 is planned to add 6,000 MT over five years. As of Q1 FY27 the ground floor is complete and producing; the first and second floors are due by mid-September 2026.^[4]
Management targets FIBC output of 5,000 tons per quarter by Q1 FY28.^[4]
The non-woven technical textile plant, in the former CPP building, will serve automotive interiors, geotextiles, artificial leather, carpets and filtration. It is on track to be commissioned in Q3 FY27.^[4][1]
Two needle-punch machines have been ordered for the non-woven plant, with total capacity of about 10,000 MT. Commissioning is planned for September 2026 and December 2026.^[6]

Recent developments

In Q2 FY26 the company acquired a 76.19% stake in Valex Ventures, a UK FIBC distributor, for ₹8.02 cr, paid through a preferential allotment and cash. Valex is consolidated from Q3 FY26 and had gross revenue of GBP 2 million in FY26.^[7][1]
ESSEKAN Private Limited was set up as a 50:50 joint venture with Essegomma S.p.A. of Italy to sell premium dope-dyed PP yarn.^[5]
The company had three subsidiaries as on 31 March 2026.^[1]
In Q4 FY26 the company reversed ₹3.65 crores of DFIA income after the government temporarily suspended import duties on polypropylene.^[6]
CRISIL credit rating as of Q2 FY26: BBB+/Stable long-term, A2 short-term.^[7]

Market Cap

₹558 Cr

High / Low

₹283 / 156

Stock P/E

12.0

Price / Book

2.0

Book Value

₹110

EPS

₹16.4

No. of Shares

2.45 Cr

ROCE

17.9%

ROE

16.7%

OPM

9.0%

Debt / Equity

0.42

Sales

₹719 Cr

Net Profit

₹40 Cr

Promoter holding

68.0%

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Kanpur Plastipack Ltd(KANPRPLA)

About

Business segments

Products and product mix

Operations and capacity

Raw materials and pricing

Customers and export markets

Expansion and capex

Recent developments

Signal history

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