Pokarna Q1 FY27: consolidated PAT up 51% YoY to ₹42.6 Cr as margins expand sharply

Pokarna's consolidated (primary) revenue was ₹189.41 Cr in Q1 FY27, up 10.8% YoY from ₹170.96 Cr and 28.6% QoQ from ₹147.24 Cr, while PAT rose 50.6% YoY to ₹42.60 Cr from ₹28.29 Cr (+66.3% QoQ from ₹25.61 Cr). Both statements tie out internally (total income = revenue + other income; PAT = PBT − tax) with no exceptional items in either the current or comparison quarters, so growth is on a clean base — no adjusted-vs-reported split is needed. Standalone, which captures only the smaller Granites business, swung to a ₹0.95 Cr profit from a ₹2.26 Cr loss a year ago on granite revenue up 161% to ₹12.73 Cr; consolidated is the primary read since Quartz Surfaces (via subsidiary Pokarna Engineered Stone) is still roughly 93% of group revenue. The growth was not purely a Quartz Surfaces story. That segment's revenue rose a modest 6.4% YoY to ₹176.69 Cr (₹166.09 Cr) and 25.3% QoQ (₹141.04 Cr), lifting segment PBIT 21.5% YoY to ₹71.09 Cr. Granites, despite being under 7% of group revenue, contributed ₹7.86 Cr of the group's ₹18.45 Cr YoY revenue increase (43%) as it swung from a ₹0.79 Cr segment loss to a ₹3.18 Cr profit. Group operating margin (EBITDA excluding other income, on revenue from operations) expanded to 35.9% from 32.1% YoY and 30.6% QoQ, and net margin widened to 21.8% from 16.3% YoY — margin expansion outpaced revenue growth on both counts, indicating cost/mix discipline rather than volume alone drove the profit jump. No analyst consensus estimates for this quarter turned up in a search — Pokarna carries thin sell-side coverage — so vsStreet is unknown rather than beat/miss, and the company has issued no formal forward guidance in filings or on record, so vsGuidance is also unknown rather than assessed. For context, group revenue had fallen 38.5% in FY26 to ₹571.62 Cr (per ScanX Trade) after the US antidumping/countervailing duty (AD/CVD) regime on Indian quartz surface products; in January 2026 the US Department of Commerce and ITC continued rather than revoked those India/Türkiye AD/CVD orders. Pokarna Engineered Stone's own company-specific dumping margin, however, was calculated at zero percent in the most recent administrative review (2022-23 period, finalized November 2024) — a materially better outcome than the broader India-wide order implies. Read against that backdrop, Q1 FY27's YoY growth looks like a recovery off a depressed FY26 base rather than a guidance beat, since there is no guidance to measure against. No management press-release commentary was available for this filing beyond the regulatory disclosure, so there is no stated management framing to reconcile against the numbers. Beyond the results, the board used the same meeting to effect a company secretary transition — Pratima Khandu Gulankar's resignation effective close of business 7 August 2026, with Om Jaiswal appointed effective 8 August 2026 — an administrative item unrelated to the operating print.