Mangalam Organics Limited Q1 FY27 Results

Mangalam Organics reported consolidated revenue of ₹179.09 Cr for Q1 FY27 (quarter ended June 30, 2026), up 22.2% YoY from ₹146.55 Cr, but consolidated PAT fell 40.6% YoY to ₹7.27 Cr from ₹12.23 Cr, with basic EPS down to ₹8.49 from ₹14.28. No brokerage previews or consensus estimates for this quarter turned up in search — this is a small-cap with no visible analyst coverage — so vsStreet is unknown. Management has issued no formal forward guidance on record and none surfaced in search either, so the print cannot be graded against a stated target.

The divergence between revenue and profit is a margin story: consolidated NPM (PAT/total income) compressed to 4.06% from 8.12% a year ago, and OPM (EBITDA excluding other income, over revenue) eased to roughly 12.4% from 14.75%. The proximate driver is cost of materials consumed, which rose 50.5% YoY to ₹122.89 Cr against revenue growth of just 22.2% — input costs clearly outran pricing/volume gains this quarter. Finance costs (+29.3% YoY to ₹7.42 Cr) and depreciation (+17.9% YoY to ₹6.16 Cr) added further drag on the bottom line. Standalone results tell a sharper growth story on top line but a milder profit decline — standalone revenue grew 43.5% YoY to ₹163.09 Cr (nearly double the consolidated pace) while standalone PAT fell a comparatively milder 23.1% YoY to ₹5.32 Cr — indicating the wholly-owned subsidiaries (Mangalam Brands, Mangalam Pooja Stores, Mangalam Speciality Chemicals) weighed more heavily on the consolidated number.

For context: this is the second-highest quarterly PAT of the last 6 quarters; PAT has now risen for 2 consecutive quarters.

QoQ: consolidated revenue up 16.6% and PAT up 29.4% vs Q4 FY26, but Q4 FY26's base included a large negative other-income swing (-₹19.83 Cr), making the sequential comparison noisy

The same board meeting carried two governance items unrelated to earnings: a CFO transition (Shrirang Rajule retired June 30, 2026, with a new CFO appointed June 23, 2026 and the authorized-signatory list refreshed accordingly) and approval of a successor statutory auditor (JMT & Associates replacing NGST & Associates for a five-year term from the 44th AGM on September 24, 2026, subject to shareholder approval). Separately, a ₹12.58 Cr fire-related insurance claim was assessed on July 3, 2026; it is not reflected as an exceptional item in this quarter's results (the exceptional-items line is nil for both the current and year-ago quarters), so any recognition or settlement would land in a future period. No management press release accompanied this filing, so there is no stated management framing to reconcile against the reported numbers.