Xpro India Limited (XPROINDIA)

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Xpro India Limited (XPROINDIA) · mywealthgrid

About

Xpro India operates in packaging within the industrials sector with a market cap of ₹2,578 Cr. Recent quarterly revenues range ₹106–174 Cr, with operating margins between 6–12%, reflecting a business navigating cost cycles in a commoditized market.

Face value: ₹10

Market cap

₹2,670 Cr

P/E

81.8×

P/B

3.5×

Dividend yield

0.4%

ROE

2.8%

ROCE

3.9%

Debt / equity

0.38

OPM

6.3%

EPS (TTM)

₹13.9

Book value

₹323.7

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

PE 78.93 vs ROE 2.81% suggests significant growth already priced in or earnings at risk—verify what earnings/revenue trajectory justifies valuation.

Raw material inflation typical in sector pressures thin margins; verify Xpro's pricing power to pass increases to customers.

ROE 2.81% is extremely low; capital inefficiently deployed. Verify if structural or cyclical.

Revenue lumpy (₹106–174 Cr range) despite stable margins; verify order pipeline consistency and customer concentration.

Generated analysis · source review pending

Growth drivers

Revenue growth: ₹174.42 Cr (Jun 2026) vs ₹119.91 Cr (Sep 2025) = ~46% growth, though lumpy—verify if volume or pricing driven, and customer base breadth.

OPM expanded: 6% (Sep 2025) to 12.07% (Mar 2026)—verify if structural gains or temporary favorable input costs.

FII 13.81% suggests market confidence; verify what specific catalysts or operational improvements underpin it.

Dividends across multiple years show cash generation; verify sustainability given low ROE and whether they constrain growth reinvestment.

Generated analysis · source review pending

2,527 historical price candles were omitted because the exchange source has not been verified.

₹1,136.2-2.1%1Y

Quick read

rule-based

Pros

+Profit CAGR of 18.2% over the last 5 years
+Dividend payout of 28.8% of profit

Cons

−Low return on equity of 6.8% (3-yr avg)
−Thin operating margin of 6.3%
−Modest revenue growth of 6.2% a year over the last 5 years
−Expensive at 81.8× trailing earnings
−Promoter holding fell 2.1 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

24/100

Business quality: 23
Growth: 28

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Epl LimitedEPLEPL	₹7,443 Cr	₹8,152 Cr	₹5,043 Cr	₹1,000 Cr	20.3%	₹388 Cr	8.3%	19.5%	14.9%	97
Agi Greenpac LimitedAGIAGI	₹5,116 Cr	₹5,355 Cr	₹2,763 Cr	₹628 Cr	22.3%	₹362 Cr	13.2%	18.6%	15.6%	188
Uflex LimitedUFLEXUFLEX	₹4,692 Cr	₹14,545 Cr	₹16,866 Cr	₹2,302 Cr	12.2%	₹682 Cr	2.1%	8.6%	4.1%	89
Tcpl Packaging LimitedTCPLPACKTCPLPACK	₹3,574 Cr	₹4,148 Cr	₹1,872 Cr	₹299 Cr	16.2%	₹115 Cr	5.4%	22.4%	14.4%	98
Polyplex Corporation LimitedPOLYPLEXPOLYPLEX	₹3,228 Cr	₹4,145 Cr	₹7,601 Cr	₹592 Cr	4.9%	₹155 Cr	0.6%	1.1%	1.1%	147
Jindal Poly Films LimitedJINDALPOLYJINDALPOLY	₹2,863 Cr	₹6,866 Cr	₹2,152 Cr	₹-613 Cr	-20.2%	₹-989 Cr	-36.6%	-2%	-29.6%	81
Xpro India LimitedXPROINDIAXPROINDIA	₹2,670 Cr	₹2,959 Cr	₹535 Cr	₹50 Cr	6.3%	₹33 Cr	3.9%	3.9%	2.8%	80
Knack Packaging LimitedKNACKKNACK	₹2,211 Cr	₹2,404 Cr	₹736 Cr	₹133 Cr	18.1%	₹74 Cr	10%	47.1%	41.5%	—
Mold-Tek Packaging LimitedMOLDTKPACMOLDTKPAC	₹2,187 Cr	₹2,231 Cr	₹631 Cr	₹121 Cr	19.1%	₹64 Cr	10.1%	24.3%	17.9%	148
Cosmo First LimitedCOSMOFIRSTCOSMOFIRST	₹2,166 Cr	₹3,752 Cr	₹4,004 Cr	₹428 Cr	10.5%	₹167 Cr	4.3%	11.6%	10.1%	10
Huhtamaki India LimitedHUHTAMAKIHUHTAMAKI	₹1,757 Cr	₹1,859 Cr	₹2,610 Cr	₹225 Cr	7.7%	₹136 Cr	4.8%	12.3%	9.5%	26
Arrow Greentech LimitedARROWGREENARROWGREEN	₹1,306 Cr	₹1,306 Cr	₹247 Cr	₹86 Cr	32.2%	₹64 Cr	23.6%	30.4%	22.4%	141

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2017	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	357	318	355	373	472	511	465	535	505
COGS	219	219	256	265	326	350	316	383	351
Gross profit	138	98	99	108	146	161	150	152	155
	112	78	69	67	82	86	84	102	123
	26	21	30	41	64	74	66	50	32
OPM %	7.3%	6.6%	8.4%	11%	13.5%	14.6%	14.2%	9.4%	6.3%
Depreciation	17	16	12	12	12	12	11	11	12
Interest	25	21	19	17	13	8	5	6	8
	4	5	2	2	2	4	10	19	18
Profit before tax	-12	11	0	13	41	59	60	52	30
Tax	0	0	0	5	-4	14	16	14	11
Tax %	0.6%	0.2%	2.4%	38.1%	-10.7%	23.4%	27.1%	27.2%	35.6%
	-12	11	0	8	45	45	44	38	20
PAT margin %	-3.5%	3.3%	0.1%	2.2%	9.5%	8.9%	9.4%	7.1%	3.9%
EPS (₹)	-10.6	9	0.3	7.1	38	25.6	21.8	17.2	8.5
EPS adjusted (₹)	-7	6	—	4.7	25.4	24.9	19.9	17	8.2
	—	0%	0%	0%	5.3%	7.8%	9.2%	11.6%	23.6%
Annual report	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	12	12	12	12	18	22	22	23
Reserves	70	57	—	160	215	538	588	736
Minority interest	—	—	—	0	0	0	—	39
	177	194	—	88	36	37	237	289
	96	91	—	75	71	80	146	131
Total equity & liabilities	355	354	—	335	340	677	993	1,218
	248	226	179	168	160	151	179	390
CWIP	0	0	—	0	3	22	344	299
Investments	—	—	—	5	5	5	0	0
	107	128	—	161	173	500	469	529
Total assets	355	354	—	335	340	677	993	1,218

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2026 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Within India	505.49	38.15	935.75	220.27	715.48	5.33
Outside India	0	-6.48

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	31%	27.8%	29%	31%	31.5%	32.2%	28.5%	30.6%
EBITDA margin %	6.6%	8.4%	11%	13.5%	14.6%	14.2%	9.4%	6.3%
EBIT margin %	1.6%	4.9%	7.7%	11%	12.3%	11.8%	7.3%	3.9%
PAT margin %	3.3%	0.1%	2.2%	9.5%	8.9%	9.4%	7.1%	3.9%
Working capital
Receivable days	66	—	—	51	36	43	53	50
Inventory days	52	—	—	51	49	53	57	76
Payable days	81	—	—	65	0	57	68	46
NWC days	36	—	—	38	86	39	42	80
Leverage
Current ratio	0.84	—	—	1.48	1.55	5.56	3.36	4.12
Debt to EBITDA	9.32	—	—	1.37	0.48	0.56	4.72	9.13
Debt to equity	2.84	—	—	0.51	0.15	0.07	0.39	0.38
Interest coverage	0.5	1	1.8	4.1	8.9	13.4	9.8	5
Asset turnover	0.9	—	—	1.41	1.5	0.69	0.54	0.41
Return ratios
Return on assets %	3%	—	—	13.4%	13.3%	6.5%	3.8%	1.6%
Return on capital employed %	4.6%	—	—	22.3%	27%	15.7%	8%	3.9%
Return on equity %	15.3%	—	—	26.1%	19.4%	7.8%	6.2%	2.6%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	45.26%	45.26%	42.46%	42.46%	42.46%	42.23%	42.43%	42.43%	40.31%	40.31%	40.31%	40.31%
	11.99%	12.04%	14.97%	15.04%	14.92%	14.31%	14.01%	13.76%	14.45%	14.63%	13.89%	13.81%
	0.67%	0.52%	3.1%	3.11%	2.9%	3%	3%	3.01%	3.4%	3.13%	2.88%	2.94%
	0%	0%	0%	0%	0%	0%	0%	0%	0.03%	0.03%	0.03%	0.03%
	42.08%	42.18%	39.47%	39.39%	39.72%	40.46%	40.56%	40.8%	41.81%	41.9%	42.89%	42.91%
No. of shareholders	—	—	—	—	—	—	—	—	28,455	28,189	27,435	27,413

Promoter holding down 4.95 percentage points since Sep 2023.

1 deal · 3 Dec 2021 – 3 Dec 2021

Date	Client	Type	Venue	Side	Quantity	Price	Value
3 Dec 2021	ANIL JAIN	Bulk	NSE	Sell	70,461	₹901.97	₹6.36 Cr

1–1 of 1

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Sidharth Kumar BirlaExecutive Director-Chairperson
Vinay Kumar AgarwalJoint President & Chief Financial Officer
Mrs. Madhushree BirlaNon-Executive - Non Independent Director
Ms. Suhana MurshedNon-Executive - Independent Director
H BakshiPresident & Chief Operating Officer
Mr. Chandrasekharan BhaskarExecutive Director-MD
Mr. Krishnamurthy BalakrishnanNon-Executive - Independent Director
Mr. Bharat JhaverNon-Executive - Non Independent Director
Mr. Manoj MohankaNon-Executive - Independent Director
Ms. Nandini KhaitanNon-Executive - Independent Director
Mr. Gaurav Jashwantlal ShahNon-Executive - Independent Director

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F&O

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Not in the F&O segment

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 2 fund houses

Held by these funds

0.79%

of the company's equity

All mutual funds

1.11%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

3 schemes · 2 fund houses

		Shares
SMALL CAP FUND	Bank of India Mutual Fund	1.42 L	16.3	0.49%	0.604%	+61,666
Small Cap Fund	Quantum Mutual Fund	38,005	4.36	1.65%	0.162%	-0
MID CAP TAX FUND Series 2 ( A 10 year Close -ended equity linked savings scheme)	Bank of India Mutual Fund	6,600	0.76	2.24%	0.028%	-0

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

1 announcementsExport CSV

2 Sept 2026, 9:42 pmCompany Update

Clarification- Spurt In Trading Volume

General PDF

Date	Category	Subject	Filing
2 Sept 2026, 9:42 pm	Company Update General	Clarification- Spurt In Trading Volume	PDF

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Ratio	Mar 2018	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	31%	27.8%	29%	31%	31.5%	32.2%	28.5%	30.6%
EBITDA margin %	6.6%	8.4%	11%	13.5%	14.6%	14.2%	9.4%	6.3%
EBIT margin %	1.6%	4.9%	7.7%	11%	12.3%	11.8%	7.3%	3.9%
PAT margin %	3.3%	0.1%	2.2%	9.5%	8.9%	9.4%	7.1%	3.9%
Working capital
Receivable days	66	—	—	51	36	43	53	50
Inventory days	52	—	—	51	49	53	57	76
Payable days	81	—	—	65	0	57	68	46
NWC days	36	—	—	38	86	39	42	80
Leverage
Current ratio	0.84	—	—	1.48	1.55	5.56	3.36	4.12
Debt to EBITDA	9.32	—	—	1.37	0.48	0.56	4.72	9.13
Debt to equity	2.84	—	—	0.51	0.15	0.07	0.39	0.38
Interest coverage	0.5	1	1.8	4.1	8.9	13.4	9.8	5
Asset turnover	0.9	—	—	1.41	1.5	0.69	0.54	0.41
Return ratios
Return on assets %	3%	—	—	13.4%	13.3%	6.5%	3.8%	1.6%
Return on capital employed %	4.6%	—	—	22.3%	27%	15.7%	8%	3.9%
Return on equity %	15.3%	—	—	26.1%	19.4%	7.8%	6.2%	2.6%

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	48	49	83	44	13	20
	-2	-10	-58	-320	-113	-161
	-51	-21	-43	278	203	151
Net cash flow	-5	17	-19	1	102	10
Free cash flow	45	42	47	6	-275	-120
CFO / Operating profit %	116.4%	76.2%	111.3%	66.5%	25.4%	64.5%

Xpro India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

12

1

1

Segment results

Compounded sales growth

Compounded profit growth

Return on equity

Outside India · revenue

Xpro India Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends12

Board meetings1

Bonus issues1

Profit & loss

Balance sheet

Segment results

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Outside India · revenue

12

1

1