TTK Healthcare Q1FY27: PAT +64% YoY (~24% adjusted), revenue up 14%

TTK Healthcare's standalone revenue came in at ₹257.56 Cr, up 13.7% YoY and 18.2% QoQ, with PAT of ₹21.28 Cr, up 63.7% YoY but down 2.2% QoQ. Basic EPS was ₹15.06, against ₹9.20 a year ago and ₹15.40 last quarter. The company carries no subsidiaries, so standalone is the sole basis for these results. The headline YoY PAT jump is materially inflated by a one-off: Note 3 discloses the company invoiced ₹7.02 Cr (₹701.85 lakh) of USAID export orders against Protective Devices inventory that had been fully written off in FY25, meaning near the entire amount drops to pre-tax profit. Stripping this out at the quarter's 26.3% effective tax rate, adjusted PAT growth is ~24% YoY versus 13.7% revenue growth — still profit outgrowing revenue, but far short of the 64% reported figure. Net margin improved to 7.76% from 5.32% YoY (though it compressed from 9.23% in Q4FY26), while operating margin rose to 5.72% from a depressed 1.18% a year ago. The Protective Devices segment was the swing factor, moving to a ₹6.13 Cr segment profit from a ₹5.44 Cr loss in Q1FY26 — the single largest driver of the YoY improvement, substantially aided by the one-off order. Animal Welfare segment profit, by contrast, fell to ₹1.15 Cr from ₹2.34 Cr YoY despite segment revenue growth, partially offsetting the Protective Devices strength. No formal Street consensus estimates or management guidance for this quarter were found on record or via web search — TTK Healthcare is thinly covered as a small-cap, so vsStreet and vsGuidance are marked unknown/none rather than assumed. The management press release furnished only the standard Regulation 30 board-outcome disclosure with no forward commentary to grade against. Separately, on July 23, 2026 the company signed a definitive agreement to sell its EVA and Good Home brands (Consumer Products segment) to Wipro Enterprises for ₹256 Cr against a net book value of just ₹0.70 Cr; the deal is expected to close by September 30, 2026 and its gain is not reflected in this quarter's numbers. Going into Q2 FY27, the key markers are whether Protective Devices holds its profitability without the one-off inventory recovery, and whether the EVA/Good Home divestment gain shows up once that transaction completes.