PAT surges 5.2x YoY to ₹212 Cr as margins recover, eases 26% QoQ off record Q1

Savita Oil's consolidated revenue came in at ₹1,709.39 Cr, up 58.9% YoY and 15.5% QoQ, while consolidated PAT jumped to ₹211.86 Cr, up 421.8% YoY from ₹40.59 Cr a year ago, with EPS at ₹30.90 versus ₹5.92. Standalone numbers track closely — PAT ₹215.83 Cr, EPS ₹31.48 — confirming the petroleum products (base oils, transformer oils, lubricants under the Savsol/Transol brands) business as the near-total driver of both revenue and profit. Sequentially, however, PAT is down 26.4% from Q1 FY27's ₹288.06 Cr, a reminder that the YoY surge is coming off an unusually weak year-ago base rather than representing a new steady state. The margin bridge tells the same two-sided story: consolidated NPM expanded to 12.39% from 3.72% a year ago, and OPM to 16.56% from 4.77% — but both compressed sharply from Q1 FY27's 19.04% NPM and 24.59% OPM. The Petroleum Products segment, which supplies nearly all of segment profit, posted PBT of ₹284.70 Cr versus ₹44.75 Cr a year ago but down from ₹373.38 Cr last quarter (-23.7% QoQ). No exceptional items appear in either period, so this is purely base oil-feedstock spread movement rather than a one-off — the year-ago quarter was depressed by weak spreads, Q1 FY27 caught an unusually favourable spread, and this quarter sits between the two. No formal sell-side consensus for this specific quarter turned up in a web search, and the company has no explicit forward guidance or prior concall commentary on record in our data, so the print cannot be graded against either a street number or management's own outlook — both read as unknown rather than beat/miss. Separately disclosed in the quarter: the company has filed an NCLT application for a scheme of amalgamation with its wholly-owned subsidiary Savita Greentec Limited; a BSE clarification was issued on October 1, 2026 regarding a price/volume surge; and promoter-family trades were reported in late September (Siddharth Mehra and Reshma Mehra bought shares, Gautam N. Mehra sold ~46,000 shares) — none of which bear directly on this quarter's P&L. No management press release accompanying this filing was available to cross-check commentary against the numbers. Going into Q3 FY27, the key question is whether the ₹284.70 Cr petroleum segment PBT is closer to a new normalized spread level or whether Q1 FY27 remains the outlier high — the next print's margin trajectory will clarify which.