Sportking India Q1 FY27: PAT surges 123% YoY as margins expand on higher yarn prices

Sportking India's standalone revenue for Q1 FY27 came in at ₹703.68 Cr, up 20.1% YoY from ₹585.80 Cr and 10.5% QoQ from ₹636.78 Cr — comfortably ahead of the 7-10% YoY growth band management guided for the "next 2-3 quarters" on the Q4 FY26 call. The bigger story is profitability: standalone PAT of ₹75.97 Cr is up ~122.8% YoY over the restated year-ago base of ₹34.10 Cr (+116.1% versus the originally reported ₹35.15 Cr, before the company's retrospective accounting-policy change on raw-material valuation), and up 131.9% QoQ from ₹32.76 Cr. EPS was ₹5.98 against a restated ₹2.68 a year ago and ₹2.55 in Q4 FY26. There were no exceptional items in the current or any comparative quarter shown, so the growth is entirely operational — no reported-vs-adjusted distinction is needed here.

Net profit margin expanded to 10.8% from 5.9% YoY and 5.2% QoQ, while operating margin rose to roughly 18.8% from 12.0% YoY and 13.4% QoQ. The lift traces mainly to the cost line: cost of materials consumed fell to 61.7% of revenue from about 68.5% a year ago, consistent with the wider cotton spreads and firmer yarn prices management cited as the driver of margin improvement. Finance cost (₹8.74 Cr) and depreciation (₹23.58 Cr) both grew only modestly, so the gain is operating, not below-the-line.

The stock went into the print at ₹201.26, up 13.7% 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.

No formal street estimates for this specific print could be found — coverage on this small/mid-cap is thin, and the available broker commentary (e.g., Univest's ₹190-195 12-month target) is built on FY27 margin normalisation and revenue growth rather than a quarterly PAT/revenue number, so the print is not benchmarked against a street figure here. No management press release or commentary beyond the regulatory intimation and results table was available to extract. Separately, the company's solar project began commercial operations on June 18, 2026 (after slipping from an earlier June 10 target); with barely two weeks in the quarter, its impact on the Power & Fuel line (₹38.70 Cr, up marginally QoQ) is likely limited so far.