SRD Q1 FY27: PAT more than doubles YoY to ₹9.19 Cr as OPM jumps to 9.4%
PAT +116.82% YoY · revenue +10.87% · margins expanding
₹135.55 Cr
+10.87% YoY
₹9.19 Cr
+116.82% YoY
6.78%
+3.3pp YoY
₹1.44
Shankar Lal Rampal Dye-Chem's standalone Q1 FY27 (quarter ended 30 June 2026, unaudited) revenue rose 10.9% YoY to ₹135.55 Cr (Q1 FY26: ₹122.27 Cr), slipping 2.7% sequentially from Q4 FY26's ₹139.30 Cr. Profit after tax more than doubled YoY to ₹9.19 Cr (Q1 FY26: ₹4.24 Cr, +116.8%) and rose 91.3% QoQ from ₹4.80 Cr, taking basic EPS to ₹1.44 from ₹0.66 a year ago. Neither this quarter nor the year-ago quarter carries an exceptional item, so the YoY growth stands as reported with no adjustment needed.
Q1 FY-2027 vs prior quarters
The profit jump traces almost entirely to margin expansion rather than volume: net margin rose to 6.78% from 3.46% YoY (3.45% in Q4 FY26), and OPM (EBITDA margin) to 9.39% from 5.06% YoY (4.86% in Q4 FY26). The bridge is a large favourable swing in the inventory line — finished goods/stock-in-trade built up by ₹6.80 Cr this quarter versus just ₹0.93 Cr in Q1 FY26 and ₹0.75 Cr in Q4 FY26 — which reduced the cost of materials booked to the P&L; employee costs (₹0.61 Cr) and other expenses (₹0.52 Cr) were also both lower than Q4 FY26's ₹0.86 Cr and ₹2.13 Cr. Management gives no formal guidance and no prior concall commentary is on record, so vsGuidance is unknown; a web search for Q1 FY27 previews on this micro-cap turned up no brokerage or consensus estimates, so vsStreet is also unknown. Alongside the results, the board approved the FY26 annual report, recommended a ₹0.05/share final dividend, and set the AGM for 19 September 2026 — routine year-end items unconnected to this quarter's operating print.
The stock went into the print at ₹40.58, up 3.5% over the past month of trading.
For context: this is the highest quarterly PAT in the last 6 quarters on our records.
What the summary numbers don't show
Results unaudited (limited review, no qualification), standalone only — no consolidated statement filed
W1
Whether the ₹6.80 Cr inventory build (vs ₹0.93 Cr YoY) reverses in coming quarters, which would compress reported margins even if underlying demand holds
W2
Sustainability of OPM near 9.4% against a two-quarter trailing range of 4.9-5.1%
W3
Detailed Q1 FY27 XBRL filing, which the company noted was still in process at results time, for segment/other-income detail
Standalone only, no consolidated statement filed; unaudited with clean limited-review report. Margin expansion is driven largely by a ₹6.80 Cr favourable inventory (finished goods/stock-in-trade) build vs ₹0.93 Cr YoY and ₹0.75 Cr QoQ — not flagged as an exceptional item in the filing (row is nil) but a working-capital-linked effect worth watching for reversal. Figures converted ₹ Lakh → ₹ Crore (÷100); cross-checked exactly against the supplied prior-quarter/year-ago comparison figures.