Renaissance Global Q1 FY27: consolidated revenue up 47% YoY, PAT surges on lower one-offs

Renaissance Global's consolidated revenue for Q1 FY27 (quarter ended June 30, 2026) came in at ₹780.4 Cr, up 47.2% YoY from ₹530.3 Cr and nearly flat QoQ (+0.9%) against ₹773.4 Cr in Q4 FY26. Consolidated PAT was ₹25.6 Cr versus ₹6.6 Cr a year ago (+289% reported), but the year-ago quarter carried a ₹12.0 Cr Bhavnagar unit-closure exceptional charge that does not repeat this quarter; stripping that one-off out, adjusted YoY PAT growth works out to roughly +70%, still a strong underlying print. Sequentially PAT fell 15.1% versus Q4 FY26's ₹30.2 Cr. No analyst consensus estimates for this print could be located, so the result cannot be benchmarked against street expectations.

NPM improved to 3.25% from 1.23% YoY (adjusted ~2.82% ex the prior-year exceptional charge), but this was driven more by the absent one-off and a lower effective tax rate (13.7% this quarter — ₹4.07 Cr tax on ₹29.7 Cr PBT, aided by a ₹0.85 Cr deferred-tax credit) than by core profitability. Stripping out finance costs, depreciation and forex from pre-exceptional PBT, the operating-margin proxy works out to roughly 8.0% this quarter versus ~8.2% a year ago — essentially flat, and not yet showing the shift toward the double-digit OPM management guided over the next 2-3 years via the D2C push flagged in the Q3 FY26 concall. On the FY27 demand caution management voiced then (metal price volatility), this quarter's 47% revenue growth runs well ahead of that caution, so growth reads as beating the cautious framing even as the margin trajectory lags. The quarter's disclosed developments include the opening of a third Jean Dousset store in San Francisco (Jul 29, 2026), meeting management's stated CY2026 target of three new stores for the brand, alongside a senior management personnel resignation (Jul 16, 2026) with no further detail disclosed. Standalone PAT also swung to a ₹10.2 Cr profit from a ₹5.9 Cr loss in Q1 FY26 on the same high-base effect. No management press release accompanying this filing was available to cross-check against the numbers.

The stock went into the print at ₹123.2, up 2.2% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters; PAT has now risen for 2 consecutive quarters.