Welspun Living Q1: consolidated PAT surges 82% YoY to ₹163 Cr as margins hit 12.5%

Welspun Living's consolidated (primary basis) revenue from operations rose 23.7% YoY and 14.8% QoQ to ₹2,795 Cr (total income ₹2,828 Cr, +23.5% YoY per the company's own calc), while net profit for the period jumped 82% YoY and 53% QoQ to ₹163 Cr — owners' share ₹161 Cr, matching management's own '1.8x YoY' framing. Neither this quarter nor the year-ago quarter carried exceptional items, so the growth is clean and comparable; no raw-vs-adjusted split is needed. Growth was broad-based: home-textile exports +28.1% YoY (one of the strongest export quarters in years), domestic brands +21.3% YoY, and the US pillow business grew 2.3x YoY. By segment, Home Textiles PBIDT rose 40.8% YoY to ₹314.3 Cr on revenue of ₹2,680 Cr (+26.2% YoY), while Flooring PBIDT grew 20.5% YoY to ₹19.5 Cr even as Flooring revenue slipped 3.1% YoY to ₹187.5 Cr — margin discipline (management cites 10.4% flooring margin) offset softer export volumes there.

Margins expanded for a third straight quarter: consolidated EBITDA (management's metric, profit before interest/depreciation/associate-share/tax) was ₹354 Cr at a 12.5% margin, up 170 bps sequentially and 140 bps YoY from 10.8%/11.1%. On a net basis, consolidated PAT margin (PAT/total income) rose to 5.75% from 4.33% in Q4FY26 and 3.90% a year ago. The margin bridge: material and other-expense lines grew slower than revenue even as Other Expenses absorbed a ₹16.07 Cr exchange loss this quarter versus a ₹5.06 Cr exchange gain in the year-ago quarter — a modest headwind the company still grew through. Finance costs fell YoY (₹34.4 Cr vs ₹42.5 Cr) on lower debt.

The stock went into the print at ₹160.25, down 3.7% 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; revenue is at a 6-quarter high.

On guidance, management's Q4FY26 concall had called for 'double-digit revenue growth' and margins 'advancing into the teens' in FY27; this quarter's 23.5-23.7% YoY revenue growth comfortably clears that bar, and the 12.5% EBITDA margin — up for a third consecutive quarter — is progressing toward, though not yet inside, the guided teens. We found no analyst consensus estimates specific to Welspun Living's Q1FY27 print (the closest matches surfaced were for Welspun Corp, a separate group entity, and a stale Simply Wall St piece covering Welspun Living's FY26 annual results from May 2026), so vsStreet is marked unknown rather than inferred. During the quarter the company completed a ₹252 Cr tender-offer buyback (1.44 Cr shares at ₹175/share, settled June 11), which reduced paid-up capital by ₹1.44 Cr and contributed to basic EPS climbing to ₹1.69 from ₹0.92 YoY alongside the profit growth. Two events fall just after the quarter close and do not affect these numbers: the Board approved selling a 51% stake in Welspun Captive Power Generation Ltd for ₹67.66 Cr (completed July 31, moving WCPGL from subsidiary to associate from Q2FY27), and the Vapi, Gujarat plant has been flood-disrupted since July 23 (assets insured, impact still being assessed).