Pricol Q1: consolidated PAT +34% YoY to ₹67 Cr as revenue climbs 23%, margins widen

Pricol delivered a strong start to FY27 that runs against management's own cautious guidance. Consolidated revenue rose ~23.5% YoY to ₹1,105 Cr and net profit grew ~34% YoY to ₹67.0 Cr (EPS ₹5.50 vs ₹4.09), with net margin expanding to 6.1% from 5.6% a year ago and EBITDA margin firming to ~11.25% from 11.05%. Growth was profit-led rather than one-off driven — there were no exceptional items on either side of the comparison, so the print is clean. On the last (Q4) concall management had flagged a slowdown in autos and a 'softening of earnings' from unrecoverable raw-material, freight and forex costs; this quarter's double-digit topline and margin expansion beat that cautious bar.

Sequentially the numbers look softer — revenue was essentially flat (+0.6% QoQ) and PAT fell ~8.5% from Q4's ₹73.2 Cr — but that owes to auto seasonality (Q4 is the strong quarter) and a high Q4 base that carried larger other income; YoY, the primary lens, shows both faster profit growth than revenue and genuine margin gains, not a seasonal artifact. The quarter also sits against a structural move: the board's 27-Jun-2026 approval of the DICVS (Driver Information & Connected Vehicle Solutions) demerger into newly incorporated Pricol Autotech, and the flagged FY27 capex plan of ₹680–700 Cr to fund new business wins and capacity. No brokerage consensus print for this specific quarter surfaced, so the result is judged against guidance and history rather than a street estimate.

The stock went into the print at ₹681.05, up 10.5% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters; revenue is at a 6-quarter high.

Standalone — revenue ₹852 Cr, PAT ₹49.4 Cr (EPS ₹4.05); consolidated tracks materially higher on overseas/subsidiary contribution