Integ. Proteins Q1 FY27 Results (BSE: 519606)
Signal: Margin expansion
The read
The quarter marks a sharp operational rebound, with revenue of ₹1,054.73 lakh versus ₹4.72 lakh YoY and EBITDA margin expanding to 4.5% from an approximately 0.2% base, but the trajectory is not yet diversified because textile generated ₹1,051.23 lakh of segment revenue and the prior three-quarter history showed revenue falling from ₹0.06 Cr in Q4FY14 after ₹0.01 Cr in Q3FY14.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹10.55 Cr | N/A | +85.36% |
| EBIT | ₹0.48 Cr | N/A | |
| Net profit | ₹0.36 Cr | N/A | |
| EPS | ₹0.19 | N/A | |
| EBIT margin | 4.5% |
P&L walk
Standalone revenue increased to ₹1,054.73 lakh from ₹4.72 lakh YoY and ₹569.03 lakh QoQ, with EBITDA rising to ₹48.45 lakh and PAT to ₹36.26 lakh; the recovery was overwhelmingly driven by textile revenue of ₹1,051.23 lakh.
Segments
Textile drove the recovery with ₹1,051.23 lakh of revenue and ₹51.93 lakh of segment result, while agro and securities contributed only ₹3.50 lakh and ₹0.50 lakh of revenue respectively; the consolidated result is therefore highly dependent on textile activity.
Key positives
- Revenue reached ₹1,054.73 lakh, up ₹1,050.01 lakh YoY and ₹485.70 lakh QoQ, indicating a substantial near-term recovery from the depressed base.
- EBITDA rose to ₹48.45 lakh from ₹0.01 lakh YoY and ₹23.14 lakh QoQ, with EBITDA margin improving to 4.5% from approximately 0.2% YoY and 4.1% QoQ.
- Finance cost fell to ₹1.02 lakh from ₹5.54 lakh QoQ, reducing the drag between operating profit and PBT.
- Textile delivered ₹1,051.23 lakh revenue and ₹51.93 lakh segment result, providing the clear source of current earnings momentum.
Key concerns
- The recovery is concentrated in textile: ₹1,051.23 lakh of ₹1,054.73 lakh operating revenue came from that segment, leaving limited evidence of a broad-based multi-segment improvement.
- Gross margin was only 5.08% because raw-material consumption was ₹1,001.10 lakh, leaving the business sensitive to input costs and mix.
- The year-ago growth rates are inflated by the exceptionally low base of ₹4.72 lakh revenue and ₹0.01 lakh PAT, so they do not yet establish a normalized growth trajectory.
Research and educational content only. Not investment advice.