Felix Industries Q4 FY26 Share Price & Earnings Call Analysis

• FY27 revenue guidance is ₹180-200 crores with EBITDA margin of 31-32% and PAT margin of 17-20%.
• Targets crossing ₹200 crores in the current financial year and expects landmark growth in subsequent years.
• Potential to reach around ₹1,000 crores by FY30, though this is an aspirational, long-term estimate.
• Oman operations expected to ramp up to full capacity in 3-6 months, with possible expansion thereafter.
• Plastic recycling plant capacity is aimed to increase steadily, focusing initially on Ahmedabad and Surat, with enough feedstock for coming years.
• Recurring revenue streams (O&M, BOO, BOOT) are expected to strengthen, with recurring business becoming dominant over 4-5 years.

• The metal recycling plant has already been acquired; retrofitting and modifications are in progress and expected to complete by month-end, with revenues to start next month.
• Plastic recycling plant acquisition is still under discussion and not yet finalized.
• No immediate plans to expand plastic recycling units to other cities; focus is on increasing capacity at existing plants in Ahmedabad and Surat.
• Plans to ramp up oil processing capacity from 40 TPD to potentially 100 TPD after achieving consistent operations post this financial year.
• Potential incremental capacity expansions planned if orders and market conditions remain favorable—capacity additions are infrastructure-ready but not yet activated.

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• Current orders for oil processing plant in Oman are strong, aiming for 100% capacity utilization this year (40 TPD capacity).
• Discussions ongoing for additional orders in Oman and with large waste management companies and government entities in Rajasthan.
• Expansion plans in Oman to potentially double capacity post current financial year once steady operations are established.
• The plastic recycling business has ongoing MOUs with clients but business structuring and revenue projections are still being finalized.
• Metal recycling plant acquisition completed; revenue generation expected from next month onwards after retrofit/modifications.
• Focus on moving towards recurring business from EPC.