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

Executive summary

• Q3 FY 2026 revenue grew 20.1% year-on-year to INR 317.7 Cr, with EBITDA up 25.7% and PAT up 13.2%.

• 9M FY 2026 revenue increased 18.6% year-on-year, consistently surpassing 15% CAGR guidance.

• Interim dividend of INR 0.50 per share declared, representing 10% of face value.

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

• Unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, were approved and released.

Financial highlights

• Q3 FY 2026 revenue: INR 317.7 Cr (+20.1% YoY); gross profit: INR 161.7 Cr (+17.9% YoY); EBITDA: INR 56.9 Cr (+25.7% YoY); PAT: INR 33.1 Cr (+13.2% YoY).

• 9M FY 2026: revenue INR 927.2 Cr (+18.6% YoY), EBITDA INR 166.8 Cr (+20.9% YoY), PAT INR 104.8 Cr (+18.8% YoY).

• Gross margin: 50.9% (down 95 bps YoY); EBITDA margin: 17.9% (up 80 bps YoY); PAT margin: 10.4%.

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

• Other income in Q2 FY26 included one-time gains from asset and investment sales.

Outlook and guidance

• Confident in surpassing 15% CAGR revenue guidance for FY 2026 and maintaining high growth for the next two years.

• Capacity expansion at Valsad and Surat facilities to drive future growth.

• Pen segment targets high single-digit growth for FY 2027 and beyond.

• EBITDA margin expected to gradually improve as new facilities become operational and economies of scale are realized.

• Working capital cycle targeted to reduce by 10 days by year-end.