TPL Plastech526582Quarterly results
Q2 results approved, CEO resignation noted, Mangesh Sarfare appointed CEO
Took note of Mr. Jayesh Ajitkumar Ashar's resignation as CEO, effective close of business on November 30, 2026, citing personal reasons/family commitments.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 14,949.82 | 10,686.80 | +39.9% | 12,438.02 | +20.2% |
| Total income | 14,951.77 | 10,688.60 | +39.9% | 12,439.97 | +20.2% |
| Profit before tax | 1,098.60 | 915.12 | +20% | 853.41 | +28.7% |
| Profit after tax | 837.80 | 684.80 | +22.3% | 652.39 | +28.4% |
| Total comprehensive income | 837.80 | 684.80 | +22.3% | 652.39 | +28.4% |
| Basic EPS | 1.07 | 0.88 | +21.6% | 0.84 | +27.4% |
- Total Income (Latest)
- 14,951.77 lakhs (YoY +39.9%, QoQ +20.2%)
- Profit After Tax (Latest)
- 837.80 lakhs (YoY +22.3%, QoQ +28.4%)
- Period
- QUARTER ENDED 30.09.2026 (Unaudited)
Also decided at the meeting
- Took note of resignation of Mr. Jayesh Ajitkumar Ashar as CEO, effective close of business hours on November 30, 2026, due to personal reasons.
- Appointed Mr. Mangesh Sarfare as CEO and KMP for two (2) years with effect from December 01, 2026.
- Accepted Mr. Mangesh Sarfare's resignation as Non-Executive Director effective close of business hours on November 04, 2026.
- Reconstituted Audit, Nomination and Remuneration, Stakeholders Relationship and CSR Committees with effect from November 04, 2026.
Auditor's review
Conclusion: Unmodified
- Other matter: subsidiary Prokube Containers Private Limited (quarter revenue Rs. 98.10 lakhs, PAT Rs. 3.78 lakhs) reviewed by other auditors; conclusion not modified.
Notes to the results
- During the quarter, commercial operations commenced through wholly owned subsidiary at Bhuj, Gujarat for IBC manufacturing, installed capacity 1,50,000 IBCs p.a.; expected additional annual revenue approx ₹100 crore.
TPL Plastech's board met on November 04, 2026 and approved four things: the unaudited financial results for the quarter and half year ended September 30, 2026, a change of Chief Executive Officer, and a reconstitution of its board committees.
Financial results (unaudited, consolidated, Rs. in lakhs)
- Revenue from Operations (Net of Taxes): 14,949.82 for the quarter ended 30.09.2026, against 10,686.80 in the quarter ended 30.09.2025.
- Total income: 14,951.77 for the quarter, against 10,688.60.
- Profit after tax: 837.80 for the quarter, against 684.80.
- For the half year ended 30.09.2026: Revenue from Operations (Net of Taxes) 27,387.84 (against 19,726.31) and Profit after tax 1,490.19 (against 1,232.26).
- Basic and diluted EPS: 1.07 for the quarter and 1.91 for the half year, on a face value of Rs. 2 per share.
The board also approved the standalone results for the same period; the figures above are the consolidated ones.
Auditor's review
- Raman S Shah & Associates reviewed both the consolidated and standalone statements. The conclusion is unmodified - nothing came to the auditor's attention that would suggest a material misstatement or a failure to disclose what the regulations require.
- A limited review is narrower in scope than a full audit, so the report gives a conclusion rather than an audit opinion.
- For the subsidiary Prokube Containers Private Limited, the auditor relied on other auditors, whose conclusion was also unmodified. That subsidiary's results reflect total revenue of Rs. 98.10 lakhs and net profit after tax of Rs. 3.78 lakhs for the quarter ended September 30, 2026, and Rs. 1.79 lakhs for the half year.
CEO change
- The board took note of the resignation of Mr. Jayesh Ajitkumar Ashar (age 62) as Chief Executive Officer, with effect from the close of business hours on November 30, 2026, due to personal reasons arising from family commitments.
- It approved the appointment of Mr. Mangesh Sarfare as Chief Executive Officer and Key Managerial Personnel for a period of two years with effect from December 01, 2026.
- His resignation from the office of Non-Executive Director was also accepted, with effect from the close of business hours on November 04, 2026.
Committee changes
- The Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee and the Corporate Social Responsibility Committee were reconstituted with effect from November 04, 2026, following the change in designation of Mr. Sarfare.
How to read the numbers
- On a consolidated basis, the quarter's Revenue from Operations (Net of Taxes) and Profit after tax are higher than in the same quarter a year earlier, and the half-year figures are higher than the corresponding half year.
- There is a month between the outgoing CEO's last working day and the new CEO's start date, and the new appointment runs for a two-year term.
- The limited review carries an unmodified conclusion on both the consolidated and the standalone results.
Simple summary
- Results, a leadership change and an internal committee rejig were all decided in one meeting. The financial numbers and the auditor's unmodified review conclusion are the main quantitative takeaways for a retail reader to track.
837.80 lakhs+28.4%
Previous652.39 (Rs. In Lakhs)After837.80 lakhs
1,490.19 lakhsProfit after tax, consolidated half year
Total comprehensive income, latest quarter837.80 (Rs. In Lakhs)
Total comprehensive income, quarter652.39 (Rs. In Lakhs)
Also from TPL Plastech
TPL Plastech board approves merger into Time Technoplast
4 Nov 2026
Board approves Q2/H1 FY27 results, CEO transition and committee reconstitution
4 Nov 2026
CEO resigns effective November 30; Mangesh Sarfare appointed CEO and KMP for two years
4 Nov 2026
More numbers
- Revenue from Operations (Net of Taxes), consolidated half year27,387.84 lakhs
- Profit after tax, consolidated half year1,490.19 lakhs
- CEO appointment tenuretwo (2) years
- Subsidiary Prokube Containers total revenue, quarter and half yearRs. 98.10 lakhs
- Subsidiary Prokube Containers net profit after tax, quarterRs. 3.78 lakhs
- Total income, latest quarter14,951.77 (Rs. In Lakhs)
- Total income, year-ago quarter10,688.60 (Rs. In Lakhs)
- Total income, previous quarter12,439.97 (Rs. In Lakhs)
- Total comprehensive income, latest quarter837.80 (Rs. In Lakhs)
- Total comprehensive income, year-ago quarter684.80 (Rs. In Lakhs)
- Total comprehensive income, previous quarter652.39 (Rs. In Lakhs)
- Profit after tax, latest quarter837.80 (Rs. In Lakhs)
- Profit after tax, year-ago quarter684.80 (Rs. In Lakhs)
- Profit after tax, previous quarter652.39 (Rs. In Lakhs)
- Revenue from operations, latest quarter14,949.82 (Rs. In Lakhs)
- Revenue from operations, year-ago quarter10,686.80 (Rs. In Lakhs)
- Revenue from operations, previous quarter12,438.02 (Rs. In Lakhs)
- Profit before tax, latest quarter1,098.60 (Rs. In Lakhs)
- Profit before tax, year-ago quarter915.12 (Rs. In Lakhs)
- Profit before tax, previous quarter853.41 (Rs. In Lakhs)
Source: BSE · 4 Nov 2026
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