Amines & Plasticizers Q1 FY27: consolidated PAT up 27% YoY on margin gains, revenue +7%
PAT +27.36% YoY · revenue +7.29% · margins expanding · beat vs street
₹150.53 Cr
+7.29% YoY
₹9.47 Cr
+27.36% YoY
6.28%
+1pp YoY
₹1.72
Amines & Plasticizers posted consolidated revenue of ₹150.53 Cr for Q1 FY27 (quarter ended June 30, 2026), up 7.3% YoY from ₹140.29 Cr but down 3.0% QoQ from Q4 FY26's ₹155.14 Cr. Consolidated PAT came in at ₹9.47 Cr, up 27.4% YoY from ₹7.43 Cr, though down 38.3% QoQ from Q4 FY26's ₹15.35 Cr. Standalone tells nearly the same story — PAT ₹9.51 Cr, EPS ₹1.73 versus consolidated EPS ₹1.72 — a sub-1% divergence, so basis doesn't change the read.
Q1 FY-2027 vs prior quarters
The YoY margin expansion (NPM 6.29% vs 5.29%, OPM 9.93% vs 9.26%) was driven less by revenue growth and more by cost mix: other expenses fell 27.7% YoY (₹18.35 Cr to ₹13.27 Cr) and finance costs dropped 41.8% (₹1.66 Cr to ₹0.96 Cr), while material costs stayed nearly flat (+0.6%) even as revenue grew — classic operating leverage. That was partly offset by a 46.6% YoY jump in power, fuel and water costs (₹10.35 Cr to ₹15.18 Cr). Sequentially, the same power-cost line rose a further 52.4% versus Q4 FY26 (₹9.96 Cr to ₹15.18 Cr) against a revenue base that shrank — the main reason OPM compressed from Q4's 15.12% to this quarter's 9.93%; this reads as a seasonal summer power-tariff effect on a chemical manufacturer rather than a structural cost shift, but it bears watching next quarter.
The stock went into the print at ₹194.6, down 5% over the past month of trading.
What the summary numbers don't show
One unreviewed foreign subsidiary (Amines & Plasticizers FZ LLC) posted a ₹4.23 lakh loss, called immaterial by auditors; no exceptional items reported
There is no formal management guidance on record for this quarter, and the press release/notes in the filing contain no forward commentary beyond board and AGM procedural items — the Board separately fixed September 23, 2026 for the 51st AGM and a September 11 record date for the FY26 final dividend of ₹0.50, both carried over from the Q4 FY26 results and unrelated to this quarter's operating print. The only external data point is a May 2026 analyst review (Univest) pegging FY27 full-year consolidated PAT growth at roughly 15-20%; this quarter's 27.4% YoY PAT growth is running ahead of that full-year pace, though one quarter is not confirmation of the annual trajectory.
W1
Whether OPM recovers from Q1's 9.93% toward Q4 FY26's 15.12% or the power-cost-driven compression persists into Q2 FY27
W2
Power, fuel and water cost trajectory — up 46.6% YoY and 52.4% QoQ this quarter, the key swing factor in the margin bridge
W3
Whether full-year PAT growth tracks the ~15-20% FY27 pace analysts (Univest) flagged in May 2026, against this quarter's 27.4% YoY print
Both statements clean, typed, unambiguous columns; totalIncome and PAT tie out exactly on both bases. One unreviewed foreign subsidiary (Amines & Plasticizers FZ LLC) added a negligible ₹4.23 lakh loss, flagged immaterial by auditors. No exceptional items on either statement.