Titan Biotech Q1 FY27 Results (BSE: 524717)
Signal: Margin expansion
The read
The trajectory is a third consecutive quarter of margin expansion, with EBITDA margin reaching 24.2% from 20.2% implied by the year-ago P&L and EBITDA growing +51.2% versus revenue +27.2%; however, the 1067bps gross-margin compression from raw-material intensity rising to 50.6% and the EPS fall of 68.3% despite PAT growth of 58.3% are the key thesis risks.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹59.17 Cr | 27.2% | +21.2% |
| EBIT | ₹12.93 Cr | 55.6% | |
| Net profit | ₹10.86 Cr | 58.3% | |
| EPS | ₹2.63 | -68.3% | |
| EBIT margin | 24.2% |
P&L walk
Revenue increased to ₹5916.66 lakh, +27.2% YoY and +21.2% QoQ, while EBITDA margin expanded to 24.2% and PAT rose to ₹1085.68 lakh, +58.3% YoY; associate profit of ₹140.09 lakh materially lifted group earnings.
Segments
The company reports one business segment; the consolidated-versus-standalone gap is material because ₹140.09 lakh of associate profit lifted consolidated PAT to ₹1085.68 lakh versus standalone PAT of ₹945.59 lakh.
Key positives
- Revenue reached ₹5916.66 lakh, +27.2% YoY and +21.2% QoQ, extending the recovery from the ₹3517 lakh Q4FY25 base.
- EBITDA grew +51.2% YoY versus revenue +27.2%, a +24.0pp growth gap, while employee cost rose 24.0%, depreciation 18.7% and finance cost 1.4%; EBITDA margin expanded 400bps to 24.2%.
- Consolidated PAT rose 58.3% YoY to ₹1085.68 lakh, with associate profit contributing ₹140.09 lakh.
Key concerns
- Raw-material cost increased 61.3% YoY to ₹2992.80 lakh and reached 50.6% of revenue versus 39.9% YoY, compressing gross margin by 1067bps; the filing does not disclose a mitigation driver.
- EPS declined 68.3% YoY to ₹2.63 despite consolidated PAT growth of 58.3%, requiring reconciliation of share-count, minority-interest or filing-data effects.
- Associate earnings of ₹140.09 lakh account for approximately 12.9% of consolidated PAT, so group profit growth is not entirely generated by the standalone operating business.
Research and educational content only. Not investment advice.