Stallion India Q1 FY27: standalone PAT jumps 79% YoY to ₹18.6 Cr as margins expand sharply

Stallion India's standalone Q1 FY27 (quarter ended June 30, 2026) revenue from operations rose 9.9% YoY and 10.4% QoQ to ₹121.45 Cr. Net profit surged 79.1% YoY (69.8% QoQ) to ₹18.57 Cr, well ahead of topline growth. EPS was ₹1.60 (basic and diluted) against ₹1.15 a year ago and ₹1.33 last quarter. The gain was margin-led. Operating margin expanded to 18.15% from 12.94% a year ago and 14.86% last quarter, while net margin rose to 15.29% from 9.37% YoY. Combined cost of materials consumed and inventory changes fell to ~76.3% of revenue from ~79.5% YoY and ~79.4% QoQ — the principal driver. Other income also rose to ₹3.23 Cr from ₹0.74 Cr YoY on interest from unutilised IPO proceeds parked in fixed deposits (note 5); stripping that out, pre-tax profit still grew ~64% YoY, so the improvement is largely operational rather than a one-off boost. No analyst consensus for this specific print could be confirmed via web search — a pre-results preview (Univest) flagged stabilising realisations as the key swing factor but carried no numeric revenue/PAT estimate, so street comparison is unknown. Against management's own May-2026 framework — a 30-35% three-year revenue CAGR, 3-4 points of margin improvement, and a FY27 PAT target of ₹100-110 Cr — the quarter is mixed: revenue growth of 9.9% YoY trails the guided CAGR pace, but the margin gain (OPM +5.2 points YoY) already exceeds the full multi-year magnitude guided. Annualising Q1 PAT (~₹74 Cr) trails the ₹100-110 Cr FY27 target's low end, though continued margin expansion could close the gap. No separate management press release or commentary accompanied this filing. The board also cleared FY26 corporate-governance items unrelated to operating performance — the secretarial audit report, Directors' Report, MD&A and Corporate Governance Report for FY26, and an AGM set for September 21, 2026, including a proposal to regularise Ms. Swati Ghosh as Woman Independent Director. On IPO-proceeds deployment, ₹10.17 Cr remains unutilised toward the Mambattu (Andhra Pradesh) refrigerant debulking and blending facility, and a May 30, 2026 shareholder resolution redirected the Khalapur allocation toward ~2 acres of land purchase (from a warehouse), a ₹0.13 Cr differential cost — both bear on the capacity build-out behind the long-term revenue guidance.