Q1 FY27: Consolidated PAT falls 33% YoY to ₹6.2 Cr as margins compress ~370bps
PAT -33.47% YoY · revenue -11.68% · margins compressing
₹79.27 Cr
-11.68% YoY
₹6.19 Cr
-33.47% YoY
7.79%
-2.5pp YoY
₹1.57
Tolins Tyres' consolidated Q1 FY27 (quarter ended June 30, 2026) print was weak on a year-on-year basis: revenue fell 11.7% YoY to ₹79.27 Cr (from ₹89.74 Cr) and PAT fell faster, down 33.5% YoY to ₹6.19 Cr (from ₹9.30 Cr), so profit contracted well ahead of the topline. Sequentially (QoQ) revenue was roughly flat, up 1.6% from ₹77.99 Cr, but PAT still fell 30.8% QoQ from ₹8.94 Cr — the QoQ revenue stability masks a genuine, YoY-confirmed margin problem rather than a seasonal blip. There are no exceptional or one-off items in either period's P&L, so the decline is entirely on operating and tax lines, not accounting noise.
Q1 FY-2027 vs prior quarters
The margin bridge shows the squeeze sits mainly at the operating level: consolidated OPM (EBITDA/revenue) compressed to 11.24% from 14.97% a year ago and from 14.39% last quarter — roughly 370bps and 315bps of compression respectively — while NPM fell to 7.81% from 10.37% YoY. Geographically, both segments weakened: India segment PBT was ₹6.81 Cr versus ₹9.67 Cr a year ago (-29.6%), and the UAE segment (Tolins Tyres LLC) PBT nearly halved to ₹1.38 Cr from ₹3.41 Cr (-59.5%), pointing to broad-based cost or pricing pressure rather than a single geography. Standalone (parent-only) numbers were materially worse than the consolidated print — revenue down 28.1% YoY to ₹45.51 Cr and PAT down 35.3% YoY to ₹3.12 Cr — with the gap explained by the India-based subsidiaries (Tolin Rubbers, Terra Rubber) and the UAE unit adding back revenue that the standalone entity alone lost, a divergence worth flagging since standalone figures will surface separately.
The stock went into the print at ₹101.01, down 2% over the past month of trading.
What the summary numbers don't show
EPS (consolidated, not annualised) ₹1.57 vs ₹2.48 a year ago
On the coverage checklist: we found no analyst consensus or brokerage preview publicly available for this quarter — Tolins Tyres appears to carry no active sell-side coverage, so vsStreet is unknown rather than a genuine miss/beat. Similarly, neither our database nor a web search turned up any formal management guidance or outlook statement from a prior concall to grade this print against — management gives no guidance on record for FY27. The results filing itself carries no accompanying press release or management commentary beyond the numbers, only board-meeting administrative notes. The quarter's other disclosed developments — the June 3 TTT Expo exhibition appearance and the July 1 subsidiary plant & machinery purchase for expansion — are business-as-usual items with no visible P&L impact yet this quarter.
W1
OPM trajectory: consolidated OPM was 11.24% this quarter vs 14.97% a year ago — watch whether Q2 FY27 stabilizes above or continues falling below this level
W2
UAE segment recovery: PBT there fell 59.5% YoY to ₹1.38 Cr — watch if this rebounds or drags the group further next quarter
W3
Standalone-vs-consolidated gap: parent-only revenue is down 28.1% YoY against a 11.7% consolidated decline — watch whether subsidiary contribution (Tolin Rubbers, UAE LLC) continues to diverge from the standalone trend
Figures reported in Rs. Millions, converted to Cr (÷10). No exceptional items in either period, so no adjustment needed. Standalone (parent-only) revenue/PAT declined far more steeply than consolidated (-28% vs -12% revenue YoY), because subsidiaries Tolin Rubbers (rev ₹33.43 Cr, PAT ₹1.82 Cr, unreviewed by principal auditor) and UAE arm Tolins Tyres LLC (rev ₹9.99 Cr, PAT ₹1.38 Cr, unreviewed by principal auditor) cushion the group number; consolidated is treated as primary per basis convention.