StockWatch
·

Linc Ltd-$

BSE: 531241

P/L Snapshot

Q1 FY27 · standalone

vs Q4 FY26·vs Q1 FY26
Revenue
136.15
-2.4%+0.4%
Expenditure
129.31
+4.5%+2.9%
Net Profit
5.10
-56.2%-30.4%
OPM %
7.70%
-4.85pp-1.78pp

Shareholding

Pattern breakdown

P/L Trends

(in crores)

RevenueExpenditureNet Profit
0.0042.8885.76128.65171.53Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Price Chart
Reports

Flat growth and margin squeeze mask weak quarter; guidance void signals lost confidence

margin compression · pricing power · polymer volatility

Result verdictFollow-upQ1 FY2710 Aug 20266 minConsumer & Retail

Muted quarter as polymer costs squeeze margins; pricing power limited

margin compression · polymer volatility · pricing power

TranscriptDeep diveQ1 FY2710 Aug 20266 minConsumer & Retail

Linc Q1FY27: consolidated PAT falls 14.5% YoY as margins compress on a near-flat topline

writing instruments · stationery · margin compression

ResultsQ1 FY2706 Aug 20263 minConsumer & Retail
Latest
Board Meeting6 Aug, 6:40 pm

Linc Q1FY27: consolidated PAT falls 14.5% YoY as margins compress on a near-flat topline

Linc's consolidated revenue for Q1 FY27 was ₹138.95 Cr, up a marginal 1.4% YoY from ₹136.98 Cr and 0.9% QoQ from ₹137.67 Cr — essentially flat, consistent with management's own call that the quarter would mirror Q4 FY26's muted pattern. Consolidated PAT (before minority interest) came in at ₹6.05 Cr, down 14.5% YoY from ₹7.07 Cr and down a sharper 42.4% QoQ from ₹10.49 Cr (Q4 had a stronger base). Basic consolidated EPS was ₹0.98 versus ₹1.18 a year ago and ₹1.76 the prior quarter. Standalone (parent-only) numbers tell a tougher story: PAT of ₹5.10 Cr was down a much steeper 30.3% YoY from ₹7.33 Cr, and standalone PBT fell 30.6% YoY to ₹6.84 Cr — the smaller consolidated decline owes to a turnaround in joint-venture equity income, which added ₹0.23 Cr this quarter versus a ₹0.30 Cr drag a year earlier. No street estimates for this small-cap turned up in a search, so the print's showing against consensus is unknown; management has not issued formal FY27 guidance, only qualitative commentary. The weakness is entirely a margins story rather than a volume one. Consolidated net margin fell to 4.35% from 5.12% YoY and 7.48% QoQ; operating margin (EBITDA basis) slipped to roughly 8.7% from 9.59% YoY and 12.91% QoQ, as cost of materials and other expenses grew faster than revenue. Consolidated PBT fell 19.8% YoY to ₹7.93 Cr even as revenue barely moved, confirming the squeeze sits on the cost lines rather than topline demand. The quarter's only notable non-financial development was the opening of a retail outlet-cum-product experience centre in Kolkata (26 Jul 2026), consistent with management's stated FY27 priorities around brand relevance and distribution investment — an initiative that adds near-term opex without an immediate revenue offset. Within the consolidated numbers, the Kenya subsidiary (Gelx Industries) posted a small net loss of ₹0.08 Cr on ₹2.84 Cr revenue, while the India-incorporated subsidiary contributed ₹1.05 Cr PAT on ₹7.55 Cr revenue; together with the JV swing, these lines are what kept the consolidated PAT decline shallower than the standalone one. No management press release specific to this print was available. The last concall (Q4 FY26, 27 May 2026) had flagged muted corporate-gifting orders and export headwinds from the geopolitical environment persisting into Q1, expecting these to progressively ease over FY27 — that call held for the topline (broadly flat, as guided) but profitability weakened further than a simple muted-growth framing would suggest, given the margin compression on both OPM and NPM. Going into Q2 FY27, the key markers are whether export demand and corporate-gifting orders begin recovering as management projected, and whether NPM/OPM stabilize from this quarter's compressed levels — this print does not yet show the guided 'progressive easing' showing up in margins.

6 Aug 2026, 06:40 pm

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