GHCL Textiles Q1FY27: PAT triples YoY to ₹39.4 Cr, OPM expands to ~16.9%

GHCL Textiles posted standalone revenue of ₹408.94 Cr, up 52.7% YoY (₹267.75 Cr) and 12.4% QoQ (₹363.69 Cr), with PAT more than tripling YoY to ₹39.35 Cr (+191.1%) and up 42.3% sequentially from ₹27.66 Cr. There are no exceptional items on either side of the comparison, so the reported and adjusted growth rates are the same — this is a clean, operationally-driven beat rather than a base-effect or one-off print.

The expansion sits squarely on operating margin: OPM rose to ~16.9% this quarter from 11.2% a year ago and 11.3% last quarter, while NPM climbed to 9.6% from 5.0% YoY and 7.4% QoQ. Revenue growth outpaced cost growth across the board — raw material cost as a share of revenue eased even as employee costs, power/fuel and depreciation grew more slowly than the topline — consistent with better capacity utilisation and product mix rather than a specific one-off. Tax expense of ₹13.44 Cr (effective rate ~25.5%) was proportionate to the higher pre-tax profit, with no adjustment items.

The stock went into the print at ₹120.57, up 24.1% over the past month of trading.

For context: this is the highest quarterly PAT in the last 6 quarters on our records; PAT has now risen for 2 consecutive quarters; revenue is at a 6-quarter high.

Basic EPS ₹4.12 vs ₹1.41 YoY and ₹2.89 QoQ (not annualised)

Management's own FY27 outlook, given at the Q4 FY26 call, was to "maintain the ~14% revenue growth rate" seen in FY26 and expected Q4's spreads to "continue into Q1 FY27, supporting profitability." The actual 52.7% YoY revenue growth is well ahead of that ~14% marker, and margins didn't just hold the Q4 spread but expanded further — a clear beat against the company's own guidance. No formal brokerage consensus or Street preview for this print could be found in a web search (GHCL Textiles carries little to no formal analyst coverage), so vsStreet is left unknown rather than assumed. No management press release commentary was available in the context to cross-check against the numbers.