TPL PLASTECH LTD. Q1 FY27 Results

TPL Plastech's consolidated revenue for Q1 FY27 came in at ₹124.38 Cr, up 37.6% YoY (₹90.40 Cr) and up 9.0% QoQ (₹114.07 Cr). Consolidated PAT was ₹6.52 Cr, up 19.2% YoY (₹5.47 Cr) but down 19.0% QoQ from ₹8.05 Cr — profit growth trailed revenue growth by roughly 18 points, and the sequential decline means this is not the QoQ-flattering quarter the raw revenue number might suggest. EPS was ₹0.84 against ₹0.70 a year ago and ₹1.03 last quarter. Standalone and consolidated figures are effectively identical since the lone subsidiary, Prokube Containers, contributed nil revenue and a token ₹1.99 Lakh loss this quarter — there is no standalone/consolidated divergence to flag.

The compression sits in the operating margin: OPM fell to ~9.08% from 11.08% YoY and 11.29% QoQ, and net margin fell to 5.25% from 6.05% YoY and 7.06% QoQ. The single largest driver is a swing in the inventory line — the company consumed ₹2.14 Cr of finished-goods/WIP inventory this quarter versus building ₹0.95 Cr a year ago, a ~₹3.09 Cr negative swing that alone accounts for most of the YoY margin gap. Cost of materials also crept up slightly, to 81.5% of revenue versus 80.7% a year ago, while employee costs and other expenses grew slower than revenue (helping, not hurting). Finance costs fell 7.1% YoY to ₹1.22 Cr, providing a small offset below the operating line.

The stock went into the print at ₹79.6, down 2.3% over the past month of trading.

For context: revenue is at a 6-quarter high.

There is no street consensus or brokerage preview available for this result — TPL Plastech is a small-cap with no visible analyst coverage running Q1 FY27 estimates, so vsStreet is unknown rather than inferred. Similarly, management has issued no formal guidance or outlook on record for this quarter, so the print cannot be graded against a stated target; it can only be read against its own trend, which shows growth continuing but at a lower-quality margin than the ₹29.07 Cr full-year FY26 PAT (+23.2%) the company reported in May. No management press release or concall commentary was available to cross-check against the numbers. Alongside the results, the board fixed 15th September 2026 as the record date for the ₹1.30/share FY26 final dividend and appointed Pradip Kumar Das, a former IDBI Bank executive director, as an additional independent director — both corporate actions rather than operational developments, with no direct bearing on this quarter's numbers.