Flair Writing Industries (FLAIR) Q3 25/26 earnings summary

Executive summary

• Q3 FY26 revenue grew 20.1% year-on-year to INR 317.7 crores, with EBITDA up 25.7% and PAT up 13.2%.

• 9M FY26 revenue increased 18.6% year-on-year, consistently surpassing 15% CAGR guidance.

• Interim dividend of INR 0.50 per share declared, reflecting strong performance and positive outlook.

• Diversified segments (Creative and Steel Bottles & Houseware) delivered combined revenue growth of 78.5% y-o-y in Q3.

• Excellence Award 2025 received at PLEXCONCIL Platinum Jubilee, reinforcing export leadership.

Financial highlights

• Q3 FY26 revenue: INR 317.7 crores (+20.1% YoY); gross profit: INR 161.7 crores (+17.9% YoY).

• Gross margin: 50.9% (down 95 bps YoY due to product mix); EBITDA: INR 56.9 crores (+25.7% YoY); EBITDA margin: 17.9% (+80 bps YoY).

• PAT: INR 33.1 crores (+13.2% YoY); PAT margin: 10.4%.

• 9M FY26 revenue: INR 927.2 crores (+18.6% YoY); EBITDA: INR 166.8 crores (+20.9% YoY); PAT: INR 104.8 crores (+18.8% YoY).

• Basic and diluted EPS (consolidated) for nine months: ₹9.87, up from ₹8.42 year-over-year.

Outlook and guidance

• Confident in surpassing 15% CAGR revenue guidance for FY26 and maintaining high growth for next two years.

• Pen segment targets high single-digit growth for FY27 and FY28.

• Creative and steel bottles expected to drive higher growth, with new facilities and product launches planned.

• EBITDA margin expected to gradually improve as scale and new units come online.

• The company is assessing the impact of new Indian labour codes effective November 21, 2025; no material impact recognized yet.