OCCL Q1 FY27: standalone PAT triples YoY to ₹40.3 Cr as revenue jumps 78%, OPM hits 28%
PAT +206.34% YoY · revenue +78.47% · margins expanding
₹219.67 Cr
+78.47% YoY
₹40.25 Cr
+206.34% YoY
18.16%
+7.5pp YoY
₹8.06
OCCL Ltd's standalone Q1 FY27 (quarter ended June 30, 2026) print is a clean, one-off-free beat on a year-on-year basis: revenue from operations rose 78.5% YoY to ₹219.67 Cr (₹123.09 Cr in Q1 FY26), and net profit more than tripled, up 206.3% YoY to ₹40.25 Cr (₹13.14 Cr a year ago). Sequentially, revenue was up 47.4% and PAT up 108.0% versus Q4 FY26 (₹149.00 Cr revenue, ₹19.35 Cr PAT), though that quarter included a ₹1.05 Cr exceptional gain (Labour Codes provision reversal) that Q1 FY27 does not carry — the YoY read, which is unaffected by one-offs on either side, is the primary signal here and it is unambiguously strong.
Q1 FY-2027 vs prior quarters
The margin story is the bigger driver: operating margin expanded to 28.07% from 21.39% a year ago and 16.73% last quarter, while net margin widened to 18.33% from 10.64% YoY. The expansion is visible in the cost structure — employee benefit expense fell to 7.30% of revenue (10.96% in Q1 FY26), freight and forwarding to 4.29% (6.71%), and other expenses to 12.01% (15.91%), even as raw-material cost plus inventory drawdown held roughly flat at ~48% of revenue (44.7% YoY). In effect, revenue scaled faster than the company's largely fixed operating cost base, producing clear operating leverage. Finance costs did rise 85% YoY to ₹2.49 Cr, tracking a large ₹34.32 Cr negative swing in inventories that points to a working-capital build behind the volume growth.
The stock went into the print at ₹128.44, up 25.6% over the past month of trading.
For context: this is the highest quarterly PAT in the last 6 quarters on our records; PAT has now risen for 2 consecutive quarters; revenue is at a 6-quarter high.
What the summary numbers don't show
No consolidated financials — company confirms no subsidiaries/JVs requiring consolidation (Note 4)
There is no street consensus or brokerage preview available for this quarter — a search turned up no analyst estimates for OCCL specifically for Q1 FY27, consistent with it being a small-cap with limited formal coverage, so vsStreet is unknown rather than assumed. Similarly, our records carry no prior concall commentary or management guidance, and the filing itself (notes and board-meeting outcome letter) contains no forward-looking commentary or press release language to grade against — management's own framing is simply the approval of results and the auditors' limited-review sign-off, with no outlook stated. The only other developments in the record are from the prior (FY26 annual) results cycle — a ₹1.80/share final dividend recommended in May 2026 — which is not tied to this quarter's operating performance. Paid-up equity capital is unchanged at ₹9.99 Cr (face value ₹2), so the EPS jump to ₹8.06 (from ₹2.63 YoY, ₹3.87 QoQ) is entirely profit-driven, not share-count driven.
W1
Whether the ~950bps YoY OPM expansion (21.39% to 28.07%) holds or reverts toward the 16-17% quarterly OPM seen through FY26
W2
Working-capital and finance-cost trajectory after this quarter's ₹34.32 Cr inventory swing and 85% YoY rise in finance costs (₹2.49 Cr)
W3
Run-rate versus FY26: Q1 FY27 revenue (₹219.67 Cr) is already ~43% of full FY26 revenue (₹505.90 Cr) — whether this pace is sustained through the rest of FY27
Standalone only — company states it has no subsidiaries/JVs and one associate not requiring consolidation (Note 4). No exceptional items in Q1 FY27 or the YoY comp quarter (Q1 FY26); Q4 FY26 (QoQ comp) carried a ₹1.05 Cr exceptional gain (Labour Codes provision reversal), so QoQ growth is not fully like-for-like. Unaudited but limited-review report attached; all figures converted from Rs. Lakhs.