Riddhi Siddhi Gl Q1 FY27 Results (BSE: 524480)
Signal: Revenue declined
The read
The quarter marks a sequential recovery from Q4FY26's ₹905.13 lakh consolidated revenue and ₹3,273.62 lakh loss, but the underlying trajectory remains fragile: Q1 revenue is still down 41.9% YoY, segment PBIT is down 57.9% YoY to ₹227.63 lakh, finance cost is up 66.5% YoY to ₹621.78 lakh, and PAT relies heavily on ₹1,699.44 lakh of other income.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹89.87 Cr | -41.9% | +892.4% |
| Net profit | ₹3.01 Cr | -62.6% | |
| EPS | ₹4.21 | -62.6% | |
| EBIT margin | N/A |
P&L walk
Consolidated revenue fell 41.9% YoY to ₹8,986.85 lakh but recovered 892.4% QoQ; gross margin declined to 9.1% from 39.8% QoQ and segment PBIT fell 57.9% YoY to ₹227.63 lakh, leaving ₹300.53 lakh PAT after ₹1,699.44 lakh of other income and an ₹82.47 lakh discontinued-operation loss.
Segments
The trading business remained the largest contributor at ₹7,649.98 lakh revenue and ₹124.79 lakh PBIT, while packaged-water bottling dragged with a ₹21.63 lakh loss despite 6.0% YoY revenue growth; standalone PAT of ₹1,350.45 lakh was materially above consolidated PAT of ₹300.53 lakh because of the subsidiary's discontinued-operation loss.
Key positives
- Consolidated revenue recovered to ₹8,986.85 lakh from ₹905.13 lakh QoQ, while continuing-operation PBT improved to ₹581.50 lakh from a ₹357.82 lakh loss.
- Packaged-water revenue grew 6.0% YoY to ₹972.16 lakh despite its segment result remaining negative at ₹21.63 lakh, indicating top-line resilience in that unit.
- Continuing-operation segment assets rose 4.0% YoY to ₹1,87,905.59 lakh while depreciation rose 12.1% YoY to ₹229.99 lakh, a clean depreciation-to-asset-base signal.
Key concerns
- Consolidated revenue declined 41.9% YoY to ₹8,986.85 lakh and trading revenue declined 45.8% YoY to ₹7,649.98 lakh.
- Finance costs rose 66.5% YoY to ₹621.78 lakh, exceeding total segment PBIT of ₹227.63 lakh.
- Consolidated PAT of ₹300.53 lakh was supported by ₹1,699.44 lakh of other income, while the operating group also absorbed an ₹82.47 lakh discontinued-operation loss.
- The newly acquired starch division contributed to current-quarter expenses from April 27, 2026, but manufacturing commencement at Davangere remains subject to regulatory approvals.
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