UTKAL SPECIALITY INDUSTRIES INDIA LIMITED

Income Statement Utkal Speciality Industries India Limited

Stocks

UTKAL

INE1V1R01014

Paper Packaging

Market Closed - NSE India S.E. 07:05:10 2026-09-18 EDT			5-day change	1st Jan Change
48.10 ^INR	+4.34%		+4.57%	-

08-18	Utkal Speciality Industries India Limited Reports Earnings Results for the Full Year Ended March 31, 2026	CI
06-15	Utkal Speciality Industries India Limited has completed an IPO in the amount of INR 345.444 million.	CI

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Published financial data: UTKAL SPECIALITY INDUSTRIES INDIA LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Revenues	241M	459M	439M	486M	553M
Other Revenues, Total	560K	142K	635K	-1K	3
Total Revenues	242M	459M	440M	486M	553M
Cost of Goods Sold, Total	218M	397M	348M	365M	412M
Gross Profit	24.01M	62.05M	91.5M	122M	141M
Selling General & Admin Expenses, Total	1.54M	3.67M	12.66M	12.08M	13.56M
Depreciation & Amortization - (IS)	3.61M	4.76M	5.84M	5.24M	5.36M
Other Operating Expenses	10.1M	15.32M	14.19M	2K	8.31M
Other Operating Expenses, Total	15.25M	23.75M	32.68M	17.33M	27.24M
Operating Income	8.76M	38.3M	58.81M	104M	113M
Interest Expense, Total	-4.42M	-11.14M	-14.58M	-15.66M	-15.3M
Interest And Investment Income	5.09K	95.95K	273K	197K	286K
Net Interest Expenses	-4.42M	-11.05M	-14.31M	-15.46M	-15.01M
Currency Exchange Gains (Loss)	434K	1.09M	16.68K	-	-
Other Non Operating Income (Expenses)	-437K	1.43M	-485K	-471K	-587K
EBT, Excl. Unusual Items	4.34M	29.78M	44.03M	88.36M	97.89M
Other Unusual Items	-	-51.09K	-2K	-	-
EBT, Incl. Unusual Items	4.34M	29.72M	44.03M	88.36M	97.89M
Income Tax Expense	5.76M	7.65M	11.65M	21.54M	24.91M
Earnings From Continuing Operations	-1.41M	22.08M	32.38M	66.82M	72.98M
Net Income to Company	-1.41M	22.08M	32.38M	66.82M	72.98M
Net Income - (IS)	-1.41M	22.08M	32.38M	66.82M	72.98M
Net Income to Common Incl Extra Items	-1.41M	22.08M	32.38M	66.82M	72.98M
Net Income to Common Excl. Extra Items	-1.41M	22.08M	32.38M	66.82M	72.98M
Per Share Items
Net EPS - Basic	-0.18	2.76	3.48	6.16	5.1
Basic EPS - Continuing Operations	-0.18	2.76	3.48	6.16	5.1
Basic Weighted Average Shares Outstanding	8M	8M	9.3M	10.84M	14.31M
Net EPS - Diluted	-0.18	2.76	3.48	6.16	5.1
Diluted EPS - Continuing Operations	-0.18	2.76	3.48	6.16	5.1
Diluted Weighted Average Shares Outstanding	8M	8M	9.3M	10.84M	14.31M
Normalized Basic EPS	0.34	2.33	2.96	5.09	4.28
Normalized Diluted EPS	0.34	2.33	2.96	5.09	4.28
Supplemental Items
EBITDA	12.38M	43.06M	64.65M	110M	119M
EBITA	8.76M	38.3M	58.81M	104M	113M
EBIT	8.76M	38.3M	58.81M	104M	113M
EBITDAR	12.46M	-	-	-	-
Total Revenues (As Reported)	242M	462M	441M	503M	564M
Effective Tax Rate - (Ratio)	132.58	25.72	26.46	24.38	25.45
Total Current Taxes	677K	4.73M	7.35M	20.95M	23.89M
Total Deferred Taxes	5.08M	2.92M	4.3M	117K	1.01M
Normalized Net Income	2.71M	18.61M	27.52M	55.23M	61.18M
Interest on Long-Term Debt	3.1M	4.99M	5.85M	4.79M	15.04M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	763K	-
Selling and Marketing Expenses	-	-	-	763K	-
Net Rental Expense, Total	79.78K	-	-	-	-
Imputed Operating Lease Interest Expense	23.62K	-	-	-	-
Imputed Operating Lease Depreciation	56.16K	-	-	-	-

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Assets
Cash And Equivalents	73.07K	650K	1.24M	562K	612K
Total Cash And Short Term Investments	73.07K	650K	1.24M	562K	612K
Accounts Receivable, Total	27.29M	24.7M	35.94M	29.48M	35.2M
Other Receivables	9.09M	32.01K	364K	963K	5.75M
Total Receivables	36.38M	24.73M	36.3M	30.44M	40.95M
Inventory	79.26M	169M	193M	245M	282M
Other Current Assets, Total	351K	5.53M	3.98M	24.34M	30.06M
Total Current Assets	116M	200M	235M	300M	353M
Gross Property Plant And Equipment	130M	159M	152M	155M	165M
Accumulated Depreciation	-3.61M	-8.37M	-14.21M	-19.45M	-24.81M
Net Property Plant And Equipment	126M	151M	137M	135M	140M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	1.84M	1.85M	1.86M	4.56M	4.66M
Total Assets	244M	353M	374M	440M	498M
Liabilities
Accounts Payable, Total	26.75M	4.33M	-1.37M	12.78M	4.15M
Accrued Expenses, Total	236K	1.71M	1.79M	2.31M	2.23M
Short-term Borrowings	63.56M	116M	120M	113M	108M
Current Portion of Long-Term Debt	-	-	-	26.19M	-
Current Income Taxes Payable	677K	4.73M	7.35M	20.95M	23.89M
Other Current Liabilities	16.67K	14.1M	219K	1.95M	1.76M
Total Current Liabilities	91.23M	141M	128M	177M	140M
Long-Term Debt	109M	143M	134M	34.82M	54.7M
Deferred Tax Liability Non Current	5.08M	8M	12.3M	12.42M	13.43M
Other Non Current Liabilities	-	-1	1	-1K	-
Total Liabilities	206M	292M	275M	224M	209M
Common Stock, Total	40M	40M	46.5M	143M	143M
Retained Earnings	-1.41M	20.66M	53.04M	73.37M	146M
Total Common Equity	38.59M	60.66M	99.54M	216M	289M
Total Equity	38.59M	60.66M	99.54M	216M	289M
Total Liabilities And Equity	244M	353M	374M	440M	498M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	8M	8M	9.3M	14.3M	14.3M
ECS Total Common Shares Outstanding	8M	8M	9.3M	14.3M	14.3M
Book Value / Share	4.82	7.58	10.7	15.13	20.23
Tangible Book Value	38.59M	60.66M	99.54M	216M	289M
Tangible Book Value Per Share	4.82	7.58	10.7	15.13	20.23
Total Debt	173M	259M	254M	174M	163M
Net Debt	173M	258M	253M	173M	162M
Debt Equivalent Oper. Leases	638K	-	-	-	-
Account Code - Inventory Valuation	6	6	6	3	6
Inventories - Raw Materials, Total	44.45M	112M	83.98M	95.45M	107M
Inventories - Work In Process, Total	26.03K	-	-	74.16M	90.9M
Inventories - Finished Goods, Total	34.78M	56.86M	109M	75.44M	83.63M
Land - (BS)	9.54M	9.54M	9.54M	9.54M	15.93M
Buildings, Total	70.78M	70.78M	70.78M	70.78M	72.78M
Machinery, Total	49.58M	70.66M	63.96M	67.24M	68.56M
Full Time Employees	-	-	-	50	-

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Net Income	-1.41M	22.08M	32.38M	66.82M	72.98M
Depreciation & Amortization - CF	3.61M	4.76M	5.84M	5.24M	5.36M
Depreciation & Amortization, Total	3.61M	4.76M	5.84M	5.24M	5.36M
Other Operating Activities, Total	5.08M	2.92M	4.3M	29.46M	1.01M
Change In Accounts Receivable	-27.29M	2.59M	-	6.46M	-
Change In Inventories	-79.26M	-90.06M	-24M	-51.72M	-36.71M
Change In Accounts Payable	26.68M	-22.41M	-5.7M	12.27M	-8.63M
Change in Other Net Operating Assets	86.59M	76.14M	-970K	-16.82M	-17.86M
Cash from Operations	14M	-3.98M	11.85M	51.71M	16.17M
Capital Expenditure	-65.59M	-21.08M	-5.07M	-3.28M	-9.71M
Sale of Property, Plant, and Equipment	-	-	12.37M	-	-
Investment in Marketable and Equity Securities, Total	-1.77M	-13.46K	-5.83K	-2.7M	-96.66K
Other Investing Activities, Total	-	-	-	-83K	-
Cash from Investing	-67.36M	-21.09M	7.29M	-6.07M	-9.81M
Long-Term Debt Issued, Total	43.1M	33.62M	-	-	-
Total Debt Issued	43.1M	33.62M	-	-	-
Short Term Debt Repaid, Total	-	-	-	-4.17M	-
Long-Term Debt Repaid, Total	-	-	-25.05M	-76.49M	-6.31M
Total Debt Repaid	-	-	-25.05M	-80.66M	-6.31M
Issuance of Common Stock	6.5M	-	6.5M	50M	-
Other Financing Activities, Total	-	-	-	-15.66M	-
Cash from Financing	49.6M	33.62M	-18.55M	-46.32M	-6.31M
Net Change in Cash	-3.77M	8.55M	591K	-678K	50.73K
Supplemental Items
Cash Interest Paid	-	-	-	15.66M	-
Cash Income Tax Paid (Refund)	-	-	-	7.35M	-
Levered Free Cash Flow	-119M	-85.74M	-22.5M	21.14M	-1.88M
Unlevered Free Cash Flow	-116M	-78.78M	-13.39M	30.93M	7.68M
Change In Net Working Capital	59.63M	86.4M	50.91M	36.21M	58.9M
Net Debt Issued / Repaid	43.1M	33.62M	-25.05M	-80.66M	-6.31M

Fiscal Period: March	2022 (INR)	2023 (INR)	2024 (INR)	2025 (INR)	2026 (INR)
Profitability
Return on Assets	3.18	8.02	10.11	15.97	15.12
Return on Total Capital	3.52	9.01	10.91	17.53	16.84
Return On Equity %	-3.92	44.49	40.42	42.3	28.86
Return on Common Equity	-3.92	44.49	40.42	42.3	28.86
Margin Analysis
Gross Profit Margin %	9.93	13.52	20.81	25.02	25.45
SG&A Margin	0.64	0.8	2.88	2.49	2.45
EBITDA Margin %	5.12	9.38	14.7	22.53	21.5
EBITA Margin %	3.62	8.34	13.38	21.45	20.53
EBIT Margin %	3.62	8.34	13.38	21.45	20.53
Income From Continuing Operations Margin %	-0.58	4.81	7.36	13.74	13.2
Net Income Margin %	-0.58	4.81	7.36	13.74	13.2
Net Avail. For Common Margin %	-0.58	4.81	7.36	13.74	13.2
Normalized Net Income Margin	1.12	4.05	6.26	11.36	11.07
Levered Free Cash Flow Margin	-49.14	-18.68	-5.12	4.35	-0.34
Unlevered Free Cash Flow Margin	-48	-17.16	-3.04	6.36	1.39
Asset Turnover
Asset Turnover	1.41	1.54	1.21	1.19	1.18
Fixed Assets Turnover	2.54	3.32	3.05	3.56	4.02
Receivables Turnover (Average Receivables)	-	17.66	14.48	14.86	17.09
Inventory Turnover (Average Inventory)	-	3.19	1.92	1.66	1.56
Short Term Liquidity
Current Ratio	1.27	1.42	1.84	1.7	2.52
Quick Ratio	0.4	0.18	0.29	0.18	0.3
Operating Cash Flow to Current Liabilities	0.15	-0.03	0.09	0.29	0.12
Days Sales Outstanding (Average Receivables)	-	20.67	25.27	24.55	21.35
Days Outstanding Inventory (Average Inventory)	-	114.26	190.6	219.44	233.27
Average Days Payable Outstanding	-	11.64	1.46	5.83	6.89
Cash Conversion Cycle (Average Days)	-	123.28	214.41	238.17	247.73
Long Term Solvency
Total Debt/Equity	447.98	427.16	255.48	80.26	56.36
Total Debt / Total Capital	81.75	81.03	71.87	44.53	36.04
LT Debt/Equity	283.25	235.59	134.99	16.09	18.9
Long-Term Debt / Total Capital	51.69	44.69	37.97	8.93	12.09
Total Liabilities / Total Assets	84.2	82.8	73.39	50.87	41.88
EBIT / Interest Expense	1.98	3.44	4.03	6.66	7.42
EBITDA / Interest Expense	2.8	3.86	4.43	6.99	7.77
(EBITDA - Capex) / Interest Expense	-12.03	1.97	4.09	6.78	7.13
Total Debt / EBITDA	13.97	6.02	3.93	1.59	1.37
Net Debt / EBITDA	13.96	6	3.91	1.58	1.37
Total Debt / (EBITDA - Capex)	-3.25	11.79	4.27	1.63	1.49
Net Debt / (EBITDA - Capex)	-3.25	11.76	4.25	1.63	1.49
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	-	89.76	-4.23	10.74	13.71
Gross Profit, 1 Yr. Growth %	-	158.42	47.44	33.85	15.7
EBITDA, 1 Yr. Growth %	-	247.95	50.24	69.58	8.51
EBITA, 1 Yr. Growth %	-2.12K	337.02	53.69	77.51	8.81
EBIT, 1 Yr. Growth %	-2.12K	337.02	53.69	77.51	8.81
Earnings From Cont. Operations, 1 Yr. Growth %	-26.48	-1.66K	46.66	106.37	9.21
Net Income, 1 Yr. Growth %	-26.48	-1.66K	46.66	106.37	9.21
Normalized Net Income, 1 Yr. Growth %	-325.64	585.88	47.89	100.67	10.78
Diluted EPS Before Extra, 1 Yr. Growth %	-	-1.66K	26.09	66.56	-17.21
Accounts Receivable, 1 Yr. Growth %	-	-9.5	45.52	-17.97	19.42
Inventory, 1 Yr. Growth %	-	113.63	14.17	26.76	14.98
Net Property, Plant and Equip., 1 Yr. Growth %	96.36	19.23	-8.72	-1.42	3.21
Total Assets, 1 Yr. Growth %	144.29	44.42	6.09	17.13	13.04
Tangible Book Value, 1 Yr. Growth %	15.18	57.22	64.09	117.36	33.73
Common Equity, 1 Yr. Growth %	15.18	57.22	64.09	117.36	33.73
Cash From Operations, 1 Yr. Growth %	-153.82	-99.85	-397.45	713.91	-43.62
Capital Expenditures, 1 Yr. Growth %	18.33	-99.62	-82.55	-26.52	195.77
Levered Free Cash Flow, 1 Yr. Growth %	-	-98.47	-76	-196.61	-108.91
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-98.59	-84.57	-341.3	-75.17
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	-	34.81	2.92	12.22
Gross Profit, 2 Yr. CAGR %	-	-	95.2	40.16	24.45
EBITDA, 2 Yr. CAGR %	-	-	128.55	59.55	35.65
EBITA, 2 Yr. CAGR %	-	840.56	159.05	65.09	38.98
EBIT, 2 Yr. CAGR %	-	840.56	159.05	65.09	38.98
Earnings From Cont. Operations, 2 Yr. CAGR %	-	238.76	378.44	73.97	50.13
Net Income, 2 Yr. CAGR %	-	238.76	378.44	73.97	50.13
Normalized Net Income, 2 Yr. CAGR %	-	293.4	218.48	72.41	49.1
Diluted EPS Before Extra, 2 Yr. CAGR %	-	-	343.63	55.42	17.43
Accounts Receivable, 2 Yr. CAGR %	-	-	14.76	9.26	-1.02
Inventory, 2 Yr. CAGR %	-	-	56.18	20.3	20.72
Net Property, Plant and Equip., 2 Yr. CAGR %	-	53.01	4.32	-5.14	0.87
Total Assets, 2 Yr. CAGR %	-	87.83	23.78	11.75	15.07
Tangible Book Value, 2 Yr. CAGR %	-	34.57	60.62	88.85	70.49
Common Equity, 2 Yr. CAGR %	-	34.57	60.62	88.85	70.49
Cash From Operations, 2 Yr. CAGR %	-	-60.87	-93.25	9.11	59.52
Capital Expenditures, 2 Yr. CAGR %	-	-38.33	-96.98	-66.38	47.43
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-93.66	-52.51	-70.67
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-95.11	-40.3	-22.6
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	-	26.19	6.4
Gross Profit, 3 Yr. CAGR %	-	-	-	71.73	31.48
EBITDA, 3 Yr. CAGR %	-	-	-	106.85	40.31
EBITA, 3 Yr. CAGR %	-	-	414.06	128.31	43.67
EBIT, 3 Yr. CAGR %	-	-	414.06	128.31	43.67
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	156.27	261.49	48.96
Net Income, 3 Yr. CAGR %	-	-	156.27	261.49	48.96
Normalized Net Income, 3 Yr. CAGR %	-	-	183.92	173.03	48.78
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-	226.6	25.99
Accounts Receivable, 3 Yr. CAGR %	-	-	-	2.61	12.54
Inventory, 3 Yr. CAGR %	-	-	-	45.68	18.5
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	28.81	2.37	-2.44
Total Assets, 3 Yr. CAGR %	-	-	55.26	21.73	12.18
Tangible Book Value, 3 Yr. CAGR %	-	-	43.77	77.66	68.33
Common Equity, 3 Yr. CAGR %	-	-	43.77	77.66	68.33
Cash From Operations, 3 Yr. CAGR %	-	-	-23.06	-72.91	-28.06
Capital Expenditures, 3 Yr. CAGR %	-	-	-54.95	-91.6	-30.59
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-84.43	-72.82
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-82.32	-55.44
Compound Annual Growth Rate Over Five Years
EBITA, 5 Yr. CAGR %	-	-	-	-	204.58
EBIT, 5 Yr. CAGR %	-	-	-	-	204.58
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	106.92
Net Income, 5 Yr. CAGR %	-	-	-	-	106.92
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	119.43
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	16.81
Total Assets, 5 Yr. CAGR %	-	-	-	-	37.87
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	53.91
Common Equity, 5 Yr. CAGR %	-	-	-	-	53.91
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	-9.07
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	-29.41