Bhandari Engineering Polymers (BELL) Gears Up for Growth with Robust Q1 FY27 Performance and ₹200 Crore Capex
Mumbai, July 20, 2026: Bhandari Engineering Polymers Limited (BELL), India’s leading manufacturer of Acrylonitrile Butadiene Styrene (ABS) and styrene resins, has begun FY27 on a strong note with impressive growth across revenue, profitability, and operating performance. Alongside its quarterly results, the company has unveiled a major capacity expansion plan that is expected to support its long-term growth ambitions.
The company’s latest investor presentation highlights strong demand across key end-user industries and reinforces management’s confidence in future growth through strategic investments in manufacturing capacity.
Revenue Crosses ₹470 Crore in a Strong First Quarter
For the quarter ended June 30, 2026 (Q1 FY27), Bhandari Engineering Polymers delivered robust financial growth compared with the corresponding quarter last year.
Key Financial Highlights
- Revenue from Operations: ₹472.2 crore, up 53.3% from ₹307.9 crore in Q1 FY26.
- EBITDA: ₹92.3 crore, registering a 44.5% year-on-year increase from ₹63.9 crore.
- EBITDA Margin: 19.2%, reflecting healthy operating efficiency despite expansion-related investments.
- Profit After Tax (PAT): ₹65.6 crore, an increase of 42.9% from ₹45.9 crore in the year-ago quarter.
- PAT Margin: 13.6%.
The strong quarterly performance reflects healthy demand for ABS and styrene-based products across industries such as automobiles, consumer durables, electrical appliances, and electronics.
₹200 Crore Expansion to Boost Production Capacity
Along with reporting impressive earnings, the company announced an ambitious capacity expansion project aimed at strengthening its manufacturing capabilities.
BELL plans to increase its annual production capacity from 75,000 metric tonnes (MTPA) to 100,000 MTPA, representing a capacity increase of around 33%.
The expansion project involves:
- Capital expenditure: Approximately ₹200 crore
- Funding: Entirely through internal accruals
- Project type: Debottlenecking and capacity enhancement
- Expected commissioning: September 2026
- Optimal capacity utilisation: Targeted by the end of FY28
Funding the entire project through internal cash generation highlights the company’s strong balance sheet, healthy cash flows, and disciplined capital allocation strategy.
Strong Financial Position Supports Future Growth
The decision to finance expansion without relying on external borrowings demonstrates BELL’s financial strength. A debt-light expansion strategy provides the company with greater financial flexibility while minimizing interest costs and preserving shareholder value.
The additional capacity is expected to help the company meet rising domestic demand while creating opportunities to expand its presence in new markets.
Positioned to Benefit from Growing Demand
Bhandari Engineering Polymers remains one of India’s leading producers of ABS and styrene resins, supplying products to several fast-growing industries, including:
- Automobile manufacturing
- Consumer durables
- Electronics
- Electrical appliances
- Industrial applications
As manufacturing activity continues to expand in India, demand for engineering polymers is expected to remain healthy, providing a favourable environment for companies with scalable production capabilities.