A B Cotspin Q1 FY27: PAT +22% YoY to ₹5.11 Cr, revenue +51% but margins compress
PAT +22.2% YoY · revenue +51.4% · margins compressing
₹101 Cr
+51.4% YoY
₹5.11 Cr
+22.2% YoY
5.01%
₹2.32
A B Cotspin India's consolidated Q1 FY27 (quarter ended June 30, 2026) revenue from operations rose 51.4% YoY to ₹100.996 Cr from ₹66.69 Cr, while consolidated PAT grew a slower 22.2% YoY to ₹5.106 Cr from ₹4.18 Cr — profit growth trailing revenue growth is the key signal, not the headline QoQ PAT jump (+161% versus a seasonally weak Q4 FY26 base of ₹1.96 Cr), which is a base-effect artifact rather than a trend and should not be read as momentum. No analyst/brokerage coverage or consensus estimate could be found for this micro-cap despite a search, and the company has no prior formal guidance or concall commentary on record, so vsStreet and vsGuidance are both genuinely unknown rather than met or missed.
Q1 FY-2027 vs prior quarters
No year-ago quarter on record — YoY cells may be blank.
The margin story is compression, not expansion: consolidated net profit margin fell to 5.01% of total revenue from 6.27% a year ago. Combined cost of materials consumed and inventory drawdown rose to roughly 75.0% of revenue from about 72.0% YoY, and the quarter carries costs the year-ago period did not — ₹3.42 Cr of employee benefit expense versus nil in Q1 FY26 — alongside finance costs and depreciation up 26.6% and 67.5% YoY respectively, consistent with capacity additions funded partly through the promoter/non-promoter warrant conversions completed earlier in FY26. There are no exceptional items in either period, so the +22.2% YoY PAT growth is unadjusted on both sides.
The stock went into the print at ₹199, down 4.3% over the past month of trading.
For context: this is the second-highest quarterly PAT of the last 4 quarters.
What the summary numbers don't show
Basic/diluted EPS ₹2.32, up from ₹1.91 a year ago (+21.5% YoY)
Standalone (PAT ₹5.10 Cr) and consolidated (₹5.11 Cr) results are nearly identical — subsidiary KKML Welfare Foundation is immaterial to the group
Corporate governance moved alongside the result: the Company Secretary resigned on July 17, 2026, and the Board used this same August 12, 2026 meeting to appoint Ms. Nidhi Sharma as the new Company Secretary & Compliance Officer, closing that gap same-day. This follows a July 14, 2026 board proposal to rename the company to A B Industries Ltd, which remains a separate corporate action with no bearing on this quarter's P&L. No management press release accompanying the result was available to extract further commentary.
W1
Raw material cost ratio (~75.0% of revenue this quarter vs ~72.0% a year ago) — whether it stabilizes or keeps compressing NPM below the 5.01% posted this quarter
W2
Finance costs (+26.6% YoY to ₹2.78 Cr) and depreciation (+67.5% YoY to ₹3.41 Cr) from recent capacity additions — watch if next quarter's volume/revenue gains scale proportionately
W3
Proposed rename to A B Industries Ltd (announced July 14, 2026) — shareholder/regulatory approval status still pending
No exceptional items in current or year-ago quarter. Standalone and consolidated results are nearly identical (<1% divergence) — sole subsidiary KKML Welfare Foundation adds only a CSR expense line. All figures unaudited, subject to limited review by P.L. Mittal & Co.