Kotyark Q1 FY27: consolidated PAT +9% YoY to ₹4.46 Cr, margins flat YoY, weak QoQ
PAT +9.1% YoY · revenue +11.5% · margins flat
₹91.98 Cr
+11.5% YoY
₹4.46 Cr
+9.1% YoY
4.85%
₹0.34
Kotyark Industries reported consolidated revenue from operations of ₹91.98 Cr for Q1 FY27 (quarter ended June 30, 2026), up 11.5% year-on-year from ₹82.46 Cr and up 44.5% sequentially from ₹63.66 Cr in Q4 FY26. Consolidated profit for the period (before minority interest) was ₹4.46 Cr, up 9.1% YoY from ₹4.09 Cr; profit attributable to owners of the company was ₹3.84 Cr (+7.8% YoY), against ₹9.38 Cr and ₹9.33 Cr respectively in the seasonally-inflated Q4 FY26. Consolidated basic EPS for the quarter was ₹0.34. These are unaudited, limited-review figures — no full audit opinion has been issued.
Q1 FY-2027 vs prior quarters
No year-ago quarter on record — YoY cells may be blank.
The YoY print is essentially in line: revenue growth (11.5%) modestly outpaced profit growth (9.1%), and operating margin (EBITDA/revenue) was broadly flat at 12.73% versus 12.49% a year ago, while net margin (total profit/total income) slipped marginally to 4.85% from 4.96%. The sharp sequential drop in both OPM (30.07% in Q4 FY26 to 12.73%) and PAT (-52.4% QoQ) is not a like-for-like operating deterioration: Q4 FY26 booked a much larger addback from changes in inventories of finished goods (₹32.90 Cr) than this quarter (₹16.83 Cr), which had mechanically inflated the prior quarter's reported margin. The YoY comparison, not the QoQ swing, is the fairer read of underlying performance.
The stock went into the print at ₹33.9, down 16.4% over the past month of trading.
Standalone PAT actually fell 7.9% YoY to ₹1.06 Cr even as consolidated profit rose — the gap traces to subsidiary Kotyark Bio Specialities Ltd, which alone contributed ₹42.98 Cr of revenue and ₹3.40 Cr of profit this quarter and shows up only at the consolidated level. Comparability is further complicated: the company divested its 55% stakes in Asia Bio Fuel LLP and Parth Renewable Energy LLP effective April 1, 2026, and both LLPs — consolidated in the year-ago (30-Jun-2025) comparative — are excluded from the current quarter, so YoY consolidated growth understates the change versus a strictly like-for-like base. Separately, a 10:1 bonus share issue during the quarter (10.28 Cr new shares) has been reflected retrospectively in EPS for all periods shown.
W1
Whether OPM stabilizes near the ~12-13% seen in Q1 FY27/Q1 FY26 or reverts toward the ~30% booked in Q4 FY26, which will clarify if Q4's margin was an inventory-valuation artifact
W2
Flow-through of the ₹173.45 Cr OMC biodiesel allocation/contract (secured Aug 2026) into Q2 FY27 revenue and margins
W3
Consolidated YoY comparisons in coming quarters against the narrower group base following the LLP divestments effective 1-Apr-2026