Century Enka lifts margin guidance as tyre-cord project slips to FY27

Century Enka is finding ways to protect profitability while it waits for a key project to bear fruit. The company raised its operating margin guidance to 7-10% from 6-8%, pinning the improvement on efficiency gains and a push into renewable power. Renewables already supplied 36% of the company's power in FY26, and a second phase should lift that figure to 48%. While margins look brighter, the investment story remains uneven. The polyester tyre cord fabric project, commissioned two-and-a-half years ago, has missed yet another deadline; commercial sales are now unlikely until the second half of FY27. With over ₹400 crore in idle capital sitting on the books, investors are waiting to see how the company deploys those resources for its FY28 strategic projects. For now, the margin upgrade provides a defensive floor, but the operational delays continue to test patience.