XPRO India Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹2,371 Cr
- P/E
- 72.60
- ROE
- 2.80%
- PEG
- -2.96
- Price to sales
- 4.42
- Debt to equity
- 0.43
- 52W high / low
- ₹1,504 / ₹813
- Sales growth (5Y)
- 6.41%
- EBITDA margin
- 9.35%
- Net profit margin
- 3.86%
- Promoter holding
- 40.31%
- Sales (last year)
- ₹535 Cr
XPRO India Ltd incorporated in 1997, is a diversified multi-divisional company in the polymer processing industry.[1]
Guidance scorecard · Q4 FY26 call
What XPRO India Ltd's management guided
and where it ranks in Industrial Products
RevenueQ4 FY26 call
10–20%- Ras Al Khaimah (RAK) plant expected to start trial production by August-September 2026, with commercial production by Q3 FY27, targeting over 50% capacity utilization by FY27-FY28.
- Two Indian lines expected to be in full production in FY27, aiming for at least 50% utilization on the new Barjora line with volume growth underway.
- Efforts to move towards higher value-added and ultrathin dielectric films (2-5 microns) to diversify product mix and increase revenue contribution.
- Volume in coex division declined from ~33,014 MT to ~31,335 MT in FY26; growth expected as new capacity utilization increases.
2 more points from XPRO India Ltd's call on revenue
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MarginsQ4 FY26 call
FlatSee what XPRO India Ltd said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- The biggest single capex chunk in FY 2026-27 is the Ras Al Khaimah (RAK) plant, expected to be capitalized around mid-year.
- Additional capex may be done for value-added bits at the Bajora plant.
- Coex operations in Ranjangaon and Greater Noida will see modest, routine capex but no new lines to be capitalized in FY 2026-27.
- The Barjora line has already been capitalized (approx. INR 240 crores).
- The Ras Al Khaimah line is still work in progress and not yet capitalized.
- Fresh equity of USD 9 million was infused into the UAE subsidiary for growth.
2 more points from XPRO India Ltd's call on capex
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FundraisingQ4 FY26 call
See what XPRO India Ltd said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- The company has customers who want far more material than current limited capacity allows.
- Existing customers require more volumes than presently supplied, indicating strong order demand.
- Sales from the second line at Barjora have started with some products under approval.
- Demand is progressively ramping up, but capacity constraints currently limit the full fulfillment.
- New customer onboarding and applications are underway for the new capacity.
2 more points from XPRO India Ltd's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Industrial Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Industrial Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹532 Cr | 21.2 | |
| 2 | 40%+ | Up 2%+ | ₹450 Cr | 13.2 | |
| 3 | 40%+ | Up 2%+ | ₹371 Cr | 26.1 | |
| 4 | 40%+ | Up 0–2% | ₹1,340 Cr | 32.9 | |
| 5 | 40%+ | Up 0–2% | ₹1,196 Cr | 14.1 | |
| 6 | 40%+ | Flat | ₹966 Cr | 25.0 |
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Pro shows every company guiding 40%+ revenue growth →Full Industrial Products rankingFinancials of XPRO India Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of XPRO India Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 124 | 131 | 110 | 96 | 128 | 139 | 134 | 105 | 158 | 145 | 120 | 106 | 134 |
| Expenses + | 105 | 112 | 95 | 81 | 112 | 122 | 121 | 94 | 148 | 147 | 113 | 96 | 118 |
| Operating Profit | 19 | 19 | 15 | 15 | 17 | 16 | 13 | 11 | 10 | -3 | 7 | 11 | 16 |
| OPM % | 16% | 15% | 14% | 16% | 13% | 12% | 10% | 10% | 6% | -2% | 6% | 10% | 12% |
| Other Income + | 1 | 1 | 3 | 3 | 3 | 6 | 5 | 5 | 3 | 3 | 4 | 4 | 7 |
| Interest | 2 | 2 | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 2 | 2 | 2 | 2 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 | 3 |
| Profit before tax | 15 | 16 | 14 | 14 | 17 | 19 | 14 | 11 | 9 | -4 | 7 | 10 | 18 |
| Tax % | 72% | 28% | 30% | 26% | 25% | 26% | 28% | 30% | 25% | 46% | 26% | 30% | 25% |
| Net Profit + | 4 | 11 | 9 | 11 | 12 | 14 | 10 | 7 | 7 | -5 | 5 | 7 | 13 |
| EPS in Rs | 2.34 | 6.20 | 4.59 | 5.17 | 5.64 | 6.36 | 4.51 | 3.36 | 2.95 | -2.46 | 2.12 | 2.89 | 5.53 |
Financials of XPRO India Ltd
Profit & Loss
Annual income statement trend
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 259 | 275 | 318 | 307 | 345 | 354 | 370 | 469 | 509 | 463 | 533 | 505 |
| Expenses + | 256 | 262 | 292 | 286 | 318 | 324 | 330 | 405 | 434 | 397 | 482 | 474 |
| Operating Profit | 3 | 14 | 26 | 21 | 27 | 30 | 40 | 64 | 74 | 66 | 51 | 32 |
| OPM % | 1% | 5% | 8% | 7% | 8% | 8% | 11% | 14% | 15% | 14% | 10% | 6% |
| Other Income + | 5 | 2 | 4 | 27 | 8 | 1 | 2 | 2 | 4 | 10 | 18 | 18 |
| Interest | 13 | 22 | 25 | 21 | 20 | 19 | 17 | 13 | 8 | 5 | 6 | 8 |
| Depreciation | 14 | 18 | 17 | 16 | 13 | 12 | 12 | 12 | 12 | 11 | 11 | 12 |
| Profit before tax | -19 | -25 | -12 | 11 | 2 | 0 | 13 | 41 | 59 | 60 | 52 | 30 |
| Tax % | -26% | 41% | 1% | 0% | 2% | 2% | 38% | -11% | 23% | 27% | 27% | 36% |
| Net Profit + | -14 | -35 | -12 | 10 | 2 | 0 | 8 | 45 | 45 | 44 | 38 | 20 |
| EPS in Rs | -7.93 | -20.07 | -7.03 | 5.93 | 1.31 | 0.23 | 4.72 | 25.38 | 24.91 | 19.91 | 17.04 | 8.19 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 5% | 8% | 10% | 12% | 24% |
Financials of XPRO India Ltd
Balance Sheet
Capital structure and asset base
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 12 | 18 | 22 | 22 | 23 |
| Reserves | 105 | 70 | 57 | 68 | 70 | 70 | 78 | 160 | 215 | 538 | 588 | 736 |
| Borrowings + | 178 | 181 | 215 | 190 | 172 | 168 | 135 | 90 | 39 | 39 | 269 | 325 |
| Other Liabilities + | 92 | 96 | 70 | 80 | 64 | 66 | 83 | 73 | 68 | 78 | 113 | 134 |
| Total Liabilities | 386 | 359 | 354 | 349 | 317 | 316 | 308 | 335 | 340 | 677 | 993 | 1,218 |
| Fixed Assets + | 250 | 251 | 226 | 202 | 188 | 188 | 179 | 168 | 160 | 151 | 179 | 651 |
| CWIP | 1 | 0 | 0 | 1 | 4 | 0 | 0 | 0 | 3 | 22 | 345 | 39 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 5 | 5 | 0 | 0 |
| Other Assets + | 135 | 107 | 128 | 147 | 125 | 128 | 129 | 161 | 173 | 500 | 468 | 529 |
| Total Assets | 386 | 359 | 354 | 349 | 317 | 316 | 308 | 335 | 340 | 677 | 993 | 1,218 |
Financials of XPRO India Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -3 | 14 | 24 | 34 | 29 | 38 | 48 | 49 | 83 | 44 | 13 | 20 |
| Cash from Investing Activity + | 18 | -4 | -2 | 28 | 7 | -6 | -2 | -10 | -58 | -320 | -113 | -161 |
| Cash from Financing Activity + | -16 | -10 | -20 | -63 | -38 | -27 | -51 | -21 | -43 | 278 | 203 | 151 |
| Net Cash Flow | 0 | -0 | 1 | -0 | -2 | 5 | -5 | 17 | -19 | 1 | 102 | 10 |
| Free Cash Flow | -3 | 14 | 21 | 73 | 23 | 32 | 46 | 43 | 47 | 6 | -274 | -120 |
| CFO/OP | -99% | 96% | 83% | 172% | 112% | 131% | 120% | 77% | 110% | 80% | 52% | 99% |
Financials of XPRO India Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 57 | 49 | 66 | 59 | 60 | 54 | 65 | 52 | 37 | 43 | 53 | 50 |
| Inventory Days | 58 | 57 | 52 | 63 | 52 | 59 | 57 | 51 | 49 | 53 | 57 | 76 |
| Days Payable | 91 | 78 | 82 | 93 | 77 | 81 | 100 | 65 | 53 | 57 | 68 | 46 |
| Cash Conversion Cycle | 24 | 28 | 36 | 30 | 36 | 33 | 22 | 38 | 33 | 39 | 42 | 80 |
| Working Capital Days | -53 | -71 | -34 | -16 | -3 | -14 | 2 | 21 | 12 | 28 | 30 | 46 |
| ROCE % | -2% | -0% | 5% | 4% | 8% | 8% | 13% | 22% | 25% | 15% | 8% | 4% |
Guidance history
How XPRO India Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 10–20% | Flat | Planned | — | — |
| Q4 FY25 call → | 20–40% | Flat | Planned | Planned | — |
| Q4 FY24 call → | 10–20% | Flat | Planned | Planned | — |
| Q4 FY23 call → | 10–20% | Flat | Planned | — | — |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
21 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −11.5% | 49% |
| Last 6 months | −0.8% | 54% |
| Last 3 months | −32.7% | 3% |
The price is 36.3% below its all-time high of ₹1,585.95 (6 Dec 2024). Stocks more than 20% below their peak have their score halved, so 42 became 21.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For XPRO India Ltd: 0.4 × 49 + 0.4 × 54 + 0.2 × 3 = 42, halved to 21 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What XPRO India Ltd's management said in earlier quarters
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