Ramco Industries Q1FY27: consol. PAT +32% YoY (~22% adjusted) as OPM jumps to 16%
PAT +31.94% YoY · revenue +16.51% · margins expanding
₹613.81 Cr
+16.51% YoY
₹86.59 Cr
+31.94% YoY
14.01%
+1.6pp YoY
₹10
Ramco Industries posted consolidated revenue of ₹613.81 Cr (+16.5% YoY, +22.3% QoQ) and consolidated net profit for the period of ₹86.59 Cr (+31.9% YoY, -1.2% QoQ), with consolidated EPS at ₹10.00 versus ₹7.58 a year ago. Profit growth outran revenue growth partly because of a ₹8.78 Cr exceptional gain on sale of land recognised this quarter (present in both the standalone and consolidated books) against no comparable exceptional item a year ago; stripping it out, adjusted PBT is ₹96.96 Cr and adjusted PAT growth is a still-healthy ~21.9% YoY versus the ~31.9% reported.
Q1 FY-2027 vs prior quarters
The margin improvement is not just the land sale, however. Operating margin (company-disclosed) rose to 16% from 11% in both the immediately preceding and year-ago quarters, and net profit margin rose to 13% from 9%. The lift is concentrated in the Building Products (fibre cement/roofing) segment, where revenue of ₹465.02 Cr grew 13.4% YoY (the 38.8% QoQ jump is largely a seasonal pre-monsoon roofing-demand pickup, not a structural step-up) while segment profit before tax and finance cost more than doubled YoY to ₹96.51 Cr from ₹54.45 Cr — genuine operating leverage in the core business.
The stock went into the print at ₹361.55, down 1.7% over the past month of trading.
For context: revenue is at a 6-quarter high.
Working against the consolidated print was a sharp drop in the share of associates' profit, to ₹7.38 Cr from ₹19.81 Cr a year ago; the group's key associate, The Ramco Cements, reported its own standalone Q1FY27 profit falling roughly 63% YoY on higher fuel and packing costs and softer cement realisations. The core Ramco Industries operating business was strong enough to absorb that drag and still deliver a sharply higher consolidated PAT YoY. Management has no formal guidance on record and no press release accompanying this filing was available to cross-check management's own framing; no analyst/street estimates specific to Ramco Industries were found, so the print cannot be benchmarked against consensus. The quarter's other corporate developments — BRSR filing, the 61st AGM scheduled for 20 August, annual report dispatch and the trading-window closure ahead of results — are compliance/administrative items unrelated to the operating numbers.
W1
Whether the 16% operating margin holds once the ₹8.78 Cr land-sale gain rolls off — adjusted PBT before exceptional items was ₹96.96 Cr this quarter
W2
Trajectory of associate income: The Ramco Cements' own Q1FY27 profit fell ~63% YoY; continued weakness there would keep pressuring Ramco Industries' consolidated 'Net Profit for the period'
W3
Building Products momentum (+13.4% YoY, +38.8% QoQ) as the seasonal pre-monsoon roofing demand tailwind fades into H2
Both quarters carry an exceptional item: ₹8.78 Cr profit on sale of land this quarter (none in the year-ago quarter). Consolidated PAT (₹86.59 Cr) = PBT ₹105.74 Cr − tax ₹26.53 Cr (=₹79.21 Cr ordinary-activities PAT) + ₹7.38 Cr share of associates' profit; the associate add-on explains the gap versus a simple PBT−tax check. Scanned filing has minor OCR artefacts but all figures cross-verified against the independent consolidated extract table (page 10).