Pricol Q1: consolidated PAT +34% YoY to ₹67 Cr as revenue climbs 23%, margins widen
PAT +34.34% YoY · revenue +23.47% · margins expanding
₹1,105.44 Cr
+23.47% YoY
₹67.02 Cr
+34.34% YoY
6.05%
+0.5pp YoY
₹5.5
Pricol delivered a strong start to FY27 that runs against management's own cautious guidance. Consolidated revenue rose ~23.5% YoY to ₹1,105 Cr and net profit grew ~34% YoY to ₹67.0 Cr (EPS ₹5.50 vs ₹4.09), with net margin expanding to 6.1% from 5.6% a year ago and EBITDA margin firming to ~11.25% from 11.05%. Growth was profit-led rather than one-off driven — there were no exceptional items on either side of the comparison, so the print is clean. On the last (Q4) concall management had flagged a slowdown in autos and a 'softening of earnings' from unrecoverable raw-material, freight and forex costs; this quarter's double-digit topline and margin expansion beat that cautious bar.
Q1 FY-2027 vs prior quarters
Sequentially the numbers look softer — revenue was essentially flat (+0.6% QoQ) and PAT fell ~8.5% from Q4's ₹73.2 Cr — but that owes to auto seasonality (Q4 is the strong quarter) and a high Q4 base that carried larger other income; YoY, the primary lens, shows both faster profit growth than revenue and genuine margin gains, not a seasonal artifact. The quarter also sits against a structural move: the board's 27-Jun-2026 approval of the DICVS (Driver Information & Connected Vehicle Solutions) demerger into newly incorporated Pricol Autotech, and the flagged FY27 capex plan of ₹680–700 Cr to fund new business wins and capacity. No brokerage consensus print for this specific quarter surfaced, so the result is judged against guidance and history rather than a street estimate.
The stock went into the print at ₹681.05, up 10.5% 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
Standalone — revenue ₹852 Cr, PAT ₹49.4 Cr (EPS ₹4.05); consolidated tracks materially higher on overseas/subsidiary contribution
Management provides a cautious short-term outlook, expecting a slowdown in the automotive sector and a 'softening of earnings' due to significant, partially unrecoverable cost pressures from raw materials, freight, and forex. Despite near-term uncertainty, the company remains committed to its long-term growth strategy,
— This quarter: beat
W1
Whether YoY margin expansion (NPM 6.1%, OPM ~11.25%) holds as the flagged raw-material/freight/forex cost pressure plays through H1FY27
W2
Execution of the ₹680–700 Cr FY27 capex and progress on doubling acquired P3L revenue, per prior guidance
W3
DICVS demerger into Pricol Autotech — timelines, approvals and how it reshapes the reported consolidated base
Clean digital filing, in ₹ Cr. No exceptional items either period. revenueFromOperations includes other operating revenue (₹21.86 Cr) to match our P&L convention; otherIncome kept separate. Consol PAT is after ₹0.30 Cr OCI/minority items but 'profit for the period' used. Single segment (auto components). DICVS demerger into Pricol Autotech approved 27-Jun-2026.