Vishal Fabrics Q1FY27: consolidated PAT falls 22% YoY as raw-material costs squeeze margins

Vishal Fabrics posted consolidated PAT of ₹7.16 Cr for Q1 FY27, down 21.9% YoY from ₹9.16 Cr in Q1 FY26, on revenue of ₹379.09 Cr that itself declined 4.6% YoY (₹397.17 Cr). Sequentially the picture is more mixed: revenue rose 8.9% QoQ (from ₹348.15 Cr), but PAT still fell 19.9% QoQ (from ₹8.93 Cr) — a case where topline recovery did not translate into profit, which is the more telling signal here than the QoQ revenue uptick. Net profit margin compressed to 1.89% from 2.31% a year ago and 2.56% last quarter; operating margin eased to roughly 6.9% from about 7.2-7.4% in the trailing two quarters. The squeeze traces to the cost line: cost of materials consumed rose to about 89.8% of revenue this quarter versus roughly 79.7% in Q4 FY26, a sharp jump that outpaced the revenue recovery and is the primary driver of both the QoQ and YoY profit decline. Finance costs added a smaller but real drag, up 10.6% QoQ to ₹9.99 Cr. There is no formal management guidance on record for this company (none in our database, and no analyst previews or consensus estimates were found via search — this is a ~₹337 Cr market-cap microcap with no visible street coverage), so vsGuidance and vsStreet cannot be assessed. Standalone and consolidated results track closely (standalone PAT ₹7.05 Cr before the ₹0.11 Cr associate-profit share), so there is no material basis divergence to flag. The quarter's other filings — AGM notice, annual report submission and corrigendum, e-voting cut-off — are administrative and unrelated to the operating print. No press release or management commentary beyond the board-outcome letter was issued alongside these results.