**Financial Highlights:** Q1 FY26 revenue grew 4.85% YoY to ₹82.52 Cr; PAT rose 1.62% to ₹4.10 Cr.

Operating EBITDA saw a slight 1.85% dip to ₹10.15 Cr (12.30% margin). Robust 11.03% YoY volume growth, driven by Injection Moulding and exports. **Strategic Initiatives & Growth Drivers:** Capacity expansion includes thermoforming to 12,120 MTPA and planned 1,500 MTPA for injection moulding.

Innovation focus on 6 new SKUs and sustainable paper bag decoration technology. **Business Developments:** Commercial production began at Unit 3 Daman, with an Odisha lease secured for future expansion.

The Olive Ecopak joint venture (company invested ₹39.27 Cr) for eco-friendly paper packaging has launched over 150 SKUs. **Market Position & Competitive Advantage:** A 20-year leader in thermoformed packaging with 4 patents.

The Olive Ecopak JV establishes India's first vertically integrated eco-friendly paper solutions plant, highlighting innovation and sustainability. **Investor Implications:** These updates indicate positive growth potential from strategic capacity additions and a pioneering move into sustainable packaging.

Investors should monitor continued volume growth and margin trends.