Amrutanjan Q1 FY27: PAT falls 47% YoY to ₹4.37 Cr as lease-rent hit, hygiene losses widen

Amrutanjan's standalone (its only reported basis — the company has no subsidiaries) PAT for Q1 FY27 came in at ₹4.37 Cr, down 47.5% year-on-year from ₹8.31 Cr and down 73.0% sequentially from ₹16.19 Cr in the seasonally strong Q4 FY26. Revenue rose 9.5% YoY to ₹102.97 Cr from ₹94.05 Cr but fell 31.3% QoQ from ₹149.77 Cr — the March quarter is the balm season peak, so the sequential drop is largely seasonal and not itself a red flag. Net margin compressed sharply to ~4.1% of total income, versus 8.44% a year ago and 10.48% last quarter. The headline decline is inflated by a one-off: a ₹2.03 Cr exceptional charge tied to settling a long-running Tamil Nadu HR&CE lease-rent dispute, under which the company paid ₹9.74 Cr in total arrears on August 1, 2026. Excluding this, pre-exceptional PBT was ₹8.10 Cr and adjusted PAT works out to roughly ₹5.82 Cr — still down about 29.9% YoY, so the underlying business, not just the one-off, is weaker. Segment data point to the source: the Women's Hygiene & Personal Care segment's loss widened to ₹2.88 Cr from a marginal ₹0.15 Cr profit a year ago, consistent with ramp-up costs from the newly commissioned ₹150 Cr sanitary napkin plant (announced August 5, 2026). Core OTC Products segment profit also slipped 8.5% YoY to ₹9.87 Cr from ₹10.79 Cr, while the Beverages segment's loss narrowed to ₹1.26 Cr from ₹3.00 Cr. No analyst consensus estimates for this quarter were found in a web search, and the company has no formal quarterly guidance on record in our data or online, so the print cannot be graded against a specific external bar; management's press release commentary was not available for this filing either. The lease-rent settlement and the plant commissioning both fell inside this quarter and, taken together, explain most of the swing in reported profitability. Separately, the board fixed September 11, 2026 as the record date for the final dividend and set the 89th AGM for September 23, 2026 — both administrative and unrelated to the operating numbers. Going forward, the print sets up two things to track: whether the Women's Hygiene segment's losses narrow as the new capacity ramps past its Q1 drag, and whether core OTC margins recover toward the ~12% pre-exceptional level seen a year ago now that the lease-rent matter appears settled.