Jenburkt Q1 FY27: PAT falls 24% YoY as staff costs surge, margins compress
PAT -24.47% YoY · revenue -0.04% · margins compressing
₹35.51 Cr
-0.04% YoY
₹5.89 Cr
-24.47% YoY
15.9%
-4.8pp YoY
₹13.34
Jenburkt Pharmaceuticals' standalone PAT fell 24.5% YoY to ₹5.89 Cr (from ₹7.79 Cr) even as revenue from operations was effectively flat YoY at ₹35.51 Cr (-0.04%, from ₹35.53 Cr) — a pure margin story, not a demand one. Sequentially the decline is sharper (PAT -45.8% QoQ, revenue -20.4% QoQ) but that mostly reflects Q4 being the seasonally heavier, year-end quarter for the business rather than a fresh deterioration.
Q1 FY-2027 vs prior quarters
The squeeze sits almost entirely on the employee-cost line: employee benefit expenses rose to ₹13.03 Cr, up 11.1% YoY and a sharp 36.9% QoQ (from ₹9.52 Cr in Q4 FY26 and ₹11.72 Cr in Q1 FY26), pushing total expenses up 10.4% YoY to ₹30.26 Cr against near-flat revenue. Net profit margin compressed to 15.9% of total income from 20.7% a year ago and 22.2% last quarter; operating margin (PBT plus finance cost and depreciation, excluding other income, over revenue) fell to 17.0% from 25.2% YoY and 23.1% QoQ. EPS tracked the profit decline, at ₹13.34 versus ₹17.66 YoY and ₹24.58 QoQ, on an unchanged equity base of ₹4.41 Cr.
The stock went into the print at ₹1,138.5, up 3.8% over the past month of trading.
What the summary numbers don't show
No exceptional items in the current or year-ago quarter — Q4 FY26's ₹3.95 Cr one-off labour-code gratuity charge does not recur, so this is a clean like-for-like comparison.
There is no consensus street estimate available for this print — Jenburkt is a micro-cap with no visible analyst coverage or published Q1 FY27 preview — so vsStreet is unknown rather than a genuine miss/beat. Management has issued no formal prior guidance or outlook on record, and no press release accompanying this result was available beyond the standard BSE outcome letter, so there is no management framing to reconcile against the numbers. Corporate developments this quarter are largely administrative rather than operational: the board fixed August 28, 2026 as the record date for the previously recommended ₹20.70/share FY26 dividend, submitted the FY26 annual report, and scheduled the 41st AGM for September 4, 2026; none of these bear directly on the quarter's operating performance.
W1
Whether employee benefit costs (₹13.03 Cr this quarter, up from ₹9.52-11.72 Cr in prior periods) persist at this elevated level into Q2 FY27 or normalize.
W2
Revenue trajectory next quarter — confirm if Q1's flat YoY print (vs FY26's 13% full-year growth) is a pause or a trend break.
W3
NPM/OPM recovery toward the 20-25% band seen through FY26, or further compression if cost pressure continues.
Only standalone statement filed (no consolidated). Figures in ₹ Lacs, converted to Crore. Q4 FY26 comparative carried a ₹3.95 Cr one-off gratuity/leave charge from revised Labour Codes — this does NOT affect the current quarter or the year-ago quarter, both of which are clean of exceptionals, so no adjusted-growth figure is needed.