Consolidated PAT falls 63% YoY to ₹3 Cr as revenue drops 42%; NPM compresses to 3.3%

Riddhi Siddhi Gluco Biols reported consolidated PAT of ₹3.01 Cr for Q1 FY27 (quarter ended June 30, 2026), down 62.6% YoY from ₹8.04 Cr, on consolidated revenue from operations of ₹89.87 Cr, down 41.9% YoY from ₹154.61 Cr. Net profit margin compressed to roughly 3.3% from 4.6% a year ago. Sequentially the group swung to a profit from Q4 FY26's ₹32.74 Cr consolidated loss, but that prior-quarter loss was driven almost entirely by a one-off ₹27.84 Cr non-cash impairment on Shree Rama Newsprint's discontinued Paper Division assets, not operating weakness — the QoQ 'recovery' is a base effect and should not be read as momentum; the YoY decline is the real story this quarter. The revenue drop is concentrated in the Trading Business segment, where sales roughly halved to ₹76.50 Cr from ₹141.23 Cr a year ago. Wind Energy revenue also slipped 13% YoY to ₹3.65 Cr, while the Packaged Water Bottling segment (housed in subsidiary Shree Rama Newsprint) grew 6% YoY to ₹9.72 Cr but swung to a ₹0.22 Cr segment loss from a ₹0.62 Cr profit. Finance costs rose 66% YoY to ₹6.22 Cr as the group carries more debt, while total expenses fell 37% YoY to ₹101.05 Cr, tracking the lower trading throughput. Standalone (parent-only) PAT was ₹13.50 Cr, nearly 4.5x the consolidated figure — the gap is explained by the subsidiary's segment loss plus the discontinued-operations charge at the group level; consolidated is the primary basis and the two readings diverge materially. No prior management guidance or concall commentary is on record for this company, and no analyst/street estimates could be identified for this print — management gives no formal guidance, and no separate press release accompanied the regulatory filing beyond the covering letter and financial statements. This is also the first quarter to include the starch division re-acquired from Cargill India (deal completed April 27, 2026), which management explicitly flags as not comparable to the immediately preceding or year-ago quarter. Concurrently with results, the Board approved a related-party loan facility of up to ₹200 Cr from Bluecraft Agro Private Limited, and the quarter also saw the promoter group's stake cut from 86.55% to 75.00% via an OFS to meet minimum public shareholding norms — an SAT/Supreme Court-mandated compliance sale, not a business signal.