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 crores, EBITDA up 25.7% to INR 56.9 crores, and PAT up 13.2% to INR 33.1 crores, with 9M FY 2026 revenue up 18.6% year-on-year, surpassing 15% CAGR guidance.

• Maintained five consecutive quarters of 15%+ year-on-year topline growth, consistently outperforming revenue guidance.

• Interim dividend of INR 0.50 per share (10% of face value) declared, reflecting strong performance and positive outlook.

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

• 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 crores (+20.1% YoY); gross profit: INR 161.7 crores (+17.9% YoY); gross margin: 50.9% (down 95 bps YoY).

• Q3 EBITDA: INR 56.9 crores (+25.7% YoY); EBITDA margin: 17.9% (up 80 bps YoY); Q3 PAT: INR 33.1 crores (+13.2% YoY); PAT margin: 10.4%.

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

• Own brand revenues for 9M: INR 841.18 crores (+22% YoY); export OEM sales: INR 67.37 crores (+22.6% YoY).

• Consolidated revenue for 9M ended Dec 31, 2025: ₹92,715.63 lakhs; consolidated net profit after tax: ₹10,482.16 lakhs.

Outlook and guidance

• Confident in surpassing 15% CAGR guidance for FY 2026 and maintaining high single-digit growth in pens for FY 2027 and beyond.

• Capacity expansion at Valsad and Surat facilities to drive future growth; Creative and steel bottle segments expected to continue strong growth.

• EBITDA margin expected to gradually improve as economies of scale and new facilities come online.

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

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