Management Guidance

Management has issued exceptionally strong guidance for FY27, raising revenue growth expectations from 50% to 80% (+/- 5%) with a target EBITDA margin of approximately 24%. This growth is underpinned by aggressive, demand-driven capacity expansion, particularly in the clean energy and new AI data center verticals. The company projects its closing order book will nearly double to INR 5,000 crores by year-end, signaling strong visibility across all key sectors including nuclear and aerospace.

Management Guidance

Management provided strong guidance for continued revenue growth driven by capacity expansion and ramp-up of new facilities. They are targeting approximately 1,700 new beds across Dombivli, Pune South, Mira Road, and BKC, aiming for a total capacity of nearly 3,000 beds. The company expects its asset-heavy, greenfield development model to fund expansion through internal accruals and debt, maintaining a debt-to-EBITDA ratio under 3x. Dombivli is projected to breakeven on EBITDA within two years of commencement, with strategic focus on expanding capacity and optimizing occupancy and case mix across all facilities.

Management Guidance

Management provided a strong outlook for FY27, projecting consolidated revenue between INR 5,600 to INR 5,700 crores, with a significant increase in consolidated EBITDA to north of INR 500 crores. They anticipate an acceleration in margin improvement as the Punjab facility stabilizes and product mix diversifies, targeting double-digit EBITDA margins. The company is progressing with Phase 2 expansion at Punjab, aiming for commissioning by the end of FY27, and also plans a cotton yarn expansion in Madhya Pradesh, contributing to a projected peak revenue of INR 7,500 to INR 7,700 crores by the end of FY28.

Management Guidance

Devyani International expects to add approximately 200-225 net new stores in FY27 on a standalone basis, with KFC contributing significantly. The company is focused on disciplined expansion, stronger profitability, and deeper consumer relevance through innovation and digital engagement. The proposed merger with Sapphire Foods is on track for completion by year-end, aiming to create a larger, more agile QSR platform. Management is optimistic about demand conditions and believes the business is positioned for stronger performance driven by strategic initiatives and a strengthening leadership team.

Management Guidance

Management provided positive guidance for FY27, expecting double-digit volume growth in the CDMO business driven by existing customers and new international contracts. They anticipate sustained or improved API prices and are targeting IPM-level growth for the domestic branded formulation business, with double-digit growth expected in exports. While margins are expected to remain similar to current levels in the short term, international contracts are projected to improve overall CDMO margins to the high teens in the medium term. The API business is expected to significantly reduce losses, though full-year profitability is not yet guaranteed. Capex is planned at INR300 crores for FY27, with deployment focused on organic growth opportunities like oral solids facility expansion and potential inorganic acquisitions in niche areas. The company also highlighted progress on new facilities, including an injectable plant, and expects these to drive the next phase of CDMO growth in FY27 and FY28.

Management Guidance

Management expressed confidence in sustained strong performance driven by the base business, targeting quarter-over-quarter improvement. While no specific quantitative outlook for FY27/FY28 was provided, the focus is on leveraging existing capacity and improving operational efficiencies within the base business. Strategic options for the underperforming ibuprofen business are expected to be finalized within H1 FY27, with a clear roadmap for the Vizag facility to follow. The company aims for a debt-free status by FY29, supported by rights issue proceeds and operational cash flows, with no immediate plans for further capital raises.

Management Guidance

Management provided a positive outlook with a medium-term guidance of 20-23% CAGR for the music vertical (including licensing, artist management, and retail). Annual EBITDA guidance for this vertical is projected between 60-65%. For FY27, the new content budget is expected to be between INR 300-350 crores, with a shift towards linear growth post-FY27 after the current aggressive investment cycle. The company anticipates significant long-term growth driven by subscriber expansion, ARPU increases, and diversification beyond streaming, particularly in the underpenetrated Indian music market.

Management Guidance

Management expressed strong optimism for FY27, expecting accelerated execution on ongoing projects, timely completions, and expansion of the redevelopment pipeline. They anticipate sales momentum to continue, driven by strong brand recognition and significant long-term growth opportunities. While acknowledging temporary margin moderation due to project mix and ongoing construction expenses, they expect a return to previous margin levels. The company remains debt-free and is focused on disciplined capital allocation and operational efficiencies.

Management Guidance

Management is highly optimistic for FY27 and beyond, projecting meaningful margin improvement driven by the expected formal imposition of anti-dumping duties on BOPET film imports, which will create a more balanced competitive landscape. The company anticipates sustained growth in Polyester Film demand, particularly for sustainable solutions due to the Plastic Waste Management Rules. The Specialty Polymers segment is expected to see continued growth, targeting 20-25% contribution to revenue in 2-3 years, with a focus on value-added products. The rPET business is scaling rapidly and is expected to significantly benefit from regulatory mandates. The transformative ELITe chemical recycling project is on track for commencement by end of CY2028, with projected revenues of $150 million and EBITDA margins of 40-45% at full capacity. Overall, management is committed to profitable growth, circular economy initiatives, and enhanced shareholder value, forecasting a significantly stronger FY27.

Management Guidance

Management guides for strong growth in FY27, targeting 50% capacity utilization at the new facility and aiming to double export revenue. They anticipate slight margin improvement driven by operating leverage, government incentives, and higher export margins, despite increased depreciation and overhead. Strategically, the focus is on aggressively ramping up new business segments like Bus AC and Railways, expanding wallet share in the high-growth data center market, and managing the significant increase in working capital, for which a QIP of up to ₹500 crores is being considered.