Nath Bio-Genes Q1FY27: consol PAT Rs32.3 Cr, flat YoY after Q1FY26 base was restated lower
PAT +14.08% YoY · revenue +15.76% · margins compressing
₹328.4 Cr
+15.76% YoY
₹32.26 Cr
+14.08% YoY
9.77%
-3.3pp YoY
₹16.98
Nath Bio-Genes' consolidated Q1 FY27 (quarter ended 30 June 2026) showed revenue of ₹328.40 Cr, up 15.8% YoY against the ₹283.70 Cr shown for Q1 FY26 in this same filing, and consolidated PAT of ₹32.26 Cr (EPS ₹16.98), up 14.1% YoY on that restated base. Standalone PAT was marginally higher at ₹32.66 Cr (EPS ₹17.18); the ~90%-owned Uzbekistan JV, Nath Bio-Genes (Central Asia) LLC, was a small net drag at the consolidated level this quarter.
Q1 FY-2027 vs prior quarters
The headline YoY comparison, however, is flattered by a base restatement. Note 2/3 of both statements discloses that a ₹9.00 Cr short provision relating to a 'Scheme,' pertaining to the June 2025 quarter but originally absorbed into the March 2026 quarter's results, has now been pulled back into the June 2025 comparative. That correction cut the Q1 FY26 comparative PAT from the ₹37.28 Cr (EPS ₹19.58) originally reported for that quarter down to the ₹28.28 Cr (EPS ₹14.88) shown here. Measured against the figure the market actually carried for a year, consolidated PAT is DOWN roughly 13.5% YoY, and NPM has compressed from ~13.1% to 9.8% (OPM ~14.2% to 10.4%) even as revenue grew. On the restated base alone, margins look closer to flat (NPM ~10.0% to 9.8%; OPM ~10.0% to 10.4%) — most of the gap between the two YoY reads comes from the restatement, not this quarter's operations.
The stock went into the print at ₹161.94, down 1.7% over the past month of trading.
For context: this is the second-highest quarterly PAT of the last 6 quarters; revenue is at a 6-quarter high.
What the summary numbers don't show
Unaudited, limited-review results — no investor complaints pending; Board approved 29 July 2026
Management guides for 15-20% top-line revenue growth in FY27, driven by strong momentum in its core cotton and paddy segments and exceptional growth in maize. They expect to maintain EBITDA and net profit margins with a slight upward trend. The strategic focus remains on portfolio diversification, expanding their distr
— This quarter: missed
Management's Q4 FY26 concall had guided 15-20% FY27 topline growth with margins 'maintained... with a slight upward trend.' Q1's 15.8% YoY revenue growth sits at the floor of that range, and margins — on either comparative basis — have not shown the guided upward trend, arguing the guidance is only partially on track one quarter in. The QoQ swing (revenue +537%, PAT moving from a near-breakeven ₹(0.01) Cr in Q4 FY26 to ₹32.26 Cr) is a seasonal artifact of the Kharif sowing-season sales cycle typical of a seed company and should not be read as sequential momentum. No formal Street/consensus estimates specific to this quarter could be located — Nath Bio-Genes is a micro-cap with no visible brokerage coverage — so vsStreet is marked unknown. No management press release accompanied this filing beyond the standard board-outcome intimation.
W1
FY27 revenue growth trajectory vs the guided 15-20% band — Q1 sits at the 15.8% floor
W2
Margin trend vs management's guided 'slight upward trend' — Q1 OPM 10.4%/NPM 9.8% needs clear expansion in coming quarters to validate that guidance
W3
Uzbekistan JV (Nath Bio-Genes Central Asia LLC, 90% owned) scaling — consolidated PAT trailed standalone this quarter; watch whether it turns accretive per management's 'cautiously scaling international operations' language
Filing's own 'Total Income' line (I) excludes the separately-disclosed 'Other Income' (IV) added later at row V — totalIncome here is computed as revenue+otherIncome to satisfy the standard check; totalExpenses/PBT reconcile exactly either way. Consolidated = Parent + 90%-owned Nath Bio-Genes (Central Asia) LLC, Uzbekistan JV, no minority interest. Critically, both standalone and consolidated Q1 FY26 (year-ago) comparatives in this filing are RESTATED (note 2/3): a ₹9.00 Cr 'short provision of Schemes' originally absorbed in Q4 FY26 has been reallocated back to Q1 FY26, cutting that quarter's previously-published PAT from ₹37.28 Cr (EPS ₹19.58, confirmed via simplywall.st) to ₹28.28 Cr (EPS ₹14.88) as shown here — this flatters the YoY optics materially; see adjustedPatYoYPct.