Pudumjee Q1 FY27: PAT down 7% YoY to ₹33.7 Cr as finance cost, depreciation rise
PAT -6.95% YoY · revenue +3.29% · margins compressing
₹202.92 Cr
+3.29% YoY
₹33.72 Cr
-6.95% YoY
15.43%
-1.4pp YoY
₹3.55
Pudumjee Paper Products' standalone Q1 FY27 (quarter ended June 30, 2026) revenue from operations grew 3.3% YoY to ₹202.9 Cr, but net profit fell 6.9% YoY to ₹33.7 Cr from ₹36.2 Cr, even as operating margin (OPM) expanded to 17.5% from 17.1% a year earlier — the core paper and hygiene businesses turned in a marginally better underlying quarter even as the headline bottom line contracted.
Q1 FY-2027 vs prior quarters
The YoY profit decline was not driven by the operating business: EBITDA excluding other income rose to ₹35.6 Cr from ₹33.7 Cr YoY. Instead, three below-the-line items pulled PBT down 7.5% YoY to ₹44.7 Cr — other income fell 16% YoY to ₹15.6 Cr (from ₹18.6 Cr), finance cost more than doubled to ₹1.56 Cr from ₹0.64 Cr, and depreciation rose 48.8% to ₹4.94 Cr from ₹3.32 Cr, consistent with ongoing capacity-related capex. By segment, the core Paper business (₹195.1 Cr revenue, ₹37.5 Cr segment EBITDA) carried the quarter, while the smaller Hygiene Products segment's EBITDA fell to ₹0.27 Cr from ₹0.72 Cr YoY despite 17% revenue growth to ₹16.2 Cr, pointing to margin pressure in that unit.
The stock went into the print at ₹94.7, up 11.4% over the past month of trading.
For context: this is the second-highest quarterly PAT of the last 6 quarters.
What the summary numbers don't show
EPS ₹3.55 for the quarter vs ₹3.82 a year ago and ₹2.08 in Q4 FY26.
QoQ, PAT jumped 71% from ₹19.7 Cr in Q4 FY26, but that comparison is misleading: Q4 FY26 carried a rare ₹0.74 Cr negative other-income swing that depressed the base quarter's profit, so the sequential jump is largely a base-effect normalization rather than a genuine step-up in earnings power — the YoY read, where profit growth trailed revenue growth, is the one that matters here.
W1
Finance cost and depreciation trend — up 144% and 49% YoY respectively this quarter on capacity-related capex; watch if this continues eating into PBT next quarter.
W2
Hygiene Products segment recovery — segment EBITDA fell to ₹0.27 Cr this quarter from ₹0.72 Cr YoY despite revenue growth; watch for a margin rebound.
W3
Other income normalization — swung from -₹0.74 Cr in Q4 FY26 to +₹15.6 Cr this quarter; a swing factor in reported PAT worth tracking for stability.
Only Standalone statement filed (letter explicitly states standalone); figures in Rs. Lakhs converted to Crore; tax = current tax (₹7.59 Cr) + deferred tax (₹3.38 Cr); no consolidated section, no exceptional items.