NGL Fine-Chem Q1 FY27: PAT nearly doubles YoY to ₹18.4 Cr, margins expand to 16.7%
PAT +99.09% YoY · revenue +33.57% · margins expanding
₹139.16 Cr
+33.57% YoY
₹18.4 Cr
+99.09% YoY
12.55%
+4.2pp YoY
₹29.78
NGL Fine-Chem's consolidated Q1 FY27 (quarter ended June 30, 2026) print is a margin-led beat with strong YoY growth, though revenue eased sequentially. Consolidated revenue from operations came in at ₹139.16 Cr, up 33.6% YoY from ₹104.19 Cr but down 6.8% QoQ from ₹149.23 Cr, pulling the company back below the ₹150 Cr quarterly run-rate management flagged as its near-term target on the FY26 Q4 call — the second straight quarter that mark hasn't been sustained. Profitability told a stronger story: consolidated PAT more than doubled YoY to ₹18.40 Cr (+99.1%) and rose 36.4% QoQ from ₹13.49 Cr, with no exceptional items in either period, so the growth sits on a clean, comparable base. EPS rose to ₹29.78 from ₹14.96 a year ago and ₹21.83 last quarter.
Q1 FY-2027 vs prior quarters
The margin expansion is the headline: OPM (EBITDA margin) rose to ~16.7% this quarter from 10.5% a year ago and 14.4% last quarter, landing within — and near the top of — the 15-18% band management guided to on the prior call, on the back of partial price pass-throughs and stabilising commodity/China-linked input costs, exactly as flagged. NPM followed, expanding to 12.5% from 8.4% YoY and 8.9% QoQ. Standalone PAT was ₹16.45 Cr on ₹136.71 Cr revenue, meaning the wholly-owned subsidiary Macrotech Polychem contributed roughly ₹1.95 Cr of incremental group profit this quarter.
The stock went into the print at ₹3,425, up 9.7% over the past month of trading.
For context: this is the highest quarterly PAT in the last 6 quarters on our records.
Management provided positive guidance for the upcoming fiscal year, expecting to build on the strong recovery seen in FY26. They anticipate EBITDA margins to reach between 15% and 18% in the near to medium term, supported by partial price pass-throughs and stabilizing commodity costs, including positive developments fr
— This quarter: met
There is no independent street consensus available to benchmark this small-cap print against, and no management press release accompanied the filing beyond the standard board-outcome letter. The only external colour found is broker/concall commentary indicating the Tarapur Phase-II capacity expansion is expected to commission in early Q2 FY27 with commercial production in H2 FY27, targeted to add ₹350-400 Cr of FY27 revenue — a milestone this quarter's numbers don't yet reflect. Net-net: NGL is tracking ahead of its own margin guidance but has not yet re-established the ₹150 Cr quarterly revenue run-rate it targeted, so this reads as a margin-driven beat with topline growth still catching up to the pace management laid out.
W1
Whether revenue re-crosses the ₹150 Cr quarterly run-rate management targeted — currently ₹139.16 Cr, down from ₹149.23 Cr last quarter
W2
Tarapur Phase-II commissioning, guided for early Q2 FY27 with commercial production in H2 FY27, targeted to add ₹350-400 Cr FY27 revenue
W3
Sustainability of the 15-18% OPM band as commodity and China-linked input costs evolve, per management's stated guidance
No exceptional items in current or comparative periods; consolidated includes 100% subsidiary Macrotech Polychem Pvt Ltd (adds ~₹1.95 Cr to group PAT vs standalone); figures converted from ₹ Lakhs (÷100); company note states the 31.03.2026 column is a balancing figure, not directly reported.