Gopal Snacks Q1 FY27: standalone PAT jumps 409% YoY to ₹12.8 Cr as margins rebuild

Gopal Snacks' standalone Q1 FY27 (quarter ended June 30, 2026) revenue from operations came in at ₹422.3 Cr, up 31.1% YoY from ₹322.2 Cr and up a modest 3.1% QoQ from ₹409.6 Cr. Standalone PAT was ₹12.85 Cr against ₹2.52 Cr a year ago (+409% YoY reported; ~+431% on an adjusted basis after stripping the negligible ₹0.22 Cr exceptional gain booked in the year-ago quarter), lifting net margin to 3.04% of total income from just 0.78% in Q1 FY26. There were no exceptional items this quarter, unlike Q4 FY26, which carried a ₹17.49 Cr insurance-claim exceptional gain (part of ₹37.46 Cr received during FY26 against the December 2024 Rajkot fire) that inflated that quarter's PAT to ₹29.95 Cr — the resulting -57.1% QoQ PAT decline is a base-effect from that one-off, not sequential deterioration, and should not be read as weakness.

The scale of the YoY jump reflects how depressed the year-ago base was: Q1 FY26 sat close to breakeven as the company worked through post-fire supply disruption and, per management's November 2025 concall, a deliberate effort to regain lost customer base over 6-7 months while full-year guidance was withdrawn. That window (Nov 2025 plus 6-7 months) lines up with this quarter, and the Rajkot plant's recommissioning in May 2026 (capacity 1,05,233 MTPA) — the first quarter with full supply-chain resumption since the fire — is the operational driver most directly tied to the revenue and margin recovery. No consensus Q1-specific street estimate for Gopal Snacks was found; brokerages had flagged "healthy growth" for FMCG names into Q1 FY27 without a hard number, and analysts separately pencil in 15-20% PAT growth for full FY27 — this quarter's YoY PAT growth runs well ahead of that annualized pace, though the comparison isn't apples-to-apples given the unusually weak year-ago base. Management's 25-26% gross-margin guidance from the same call was not restated in this filing. Separately, the company disclosed a ₹16.55 Cr GST show-cause notice received June 5, 2026, unprovisioned in this statement, and the board used this meeting to re-appoint CMD Bipinbhai Hadvani for a further five-year term (October 2026-September 2031).

The stock went into the print at ₹277.9, up 3.4% over the past month of trading.

For context: revenue is at a 6-quarter high.

EPS (basic) ₹1.03 vs ₹0.20 a year ago and ₹2.40 in Q4 FY26 (Q4 boosted by the exceptional gain)