**Business Performance:** Satia Industries' FY26 revenue decreased 4% YoY to INR 1,451.9 Cr, with Q4 revenue down 2% YoY to INR 389.6 Cr.

FY26 profit (PAT) fell 66% YoY to INR 40.9 Cr, and Q4 PAT plunged 84% to INR 5.8 Cr.

Management highlighted resilient demand but faced elevated raw material and fuel costs, although import pressures eased towards year-end. **Growth Drivers or Strategy:** The company is upgrading its PM3 to boost efficiency and cut costs.

A strategic focus is expanding into value-added moulded cutlery products, enhancing its sustainable packaging offerings and product mix. **Recent Developments:** In FY26, Satia added five new cutlery machines, reaching 14 units, with existing ones at 100% capacity.

New cup-moulding machinery is expected to start production by Q2FY27. **Key Financial Metrics:** FY26 EPS was INR 4.09 (vs. INR 11.86 in FY25). Net debt-to-equity ratio improved to 0.14x. **Management Commentary / Outlook:** FY27 is seen as a transition year.

While near-term cost pressures might persist, management expects improving realizations, easing imports, and investment benefits to drive a more resilient growth profile.