RDB Rasayans Q1 FY27 Results (BSE: 533608)
Signal: Margins at cyclical peak
The read
The operating trajectory improved in Q1FY27, with revenue of ₹31.93 lakh growing 14.1% YoY, EBITDA of ₹15.82 lakh growing 34.4% and EBIT of ₹15.52 lakh growing 35.1%; however, PAT of ₹11.6 lakh includes ₹6.86 lakh of other income, or 44.2% of PBT, so the durability of core packaging earnings remains unproven.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹31.93 Cr | 14.1% | N/A |
| EBIT | ₹15.52 Cr | 35.1% | |
| Net profit | ₹11.6 Cr | 35.4% | |
| EPS | ₹6.55 | 35.3% | |
| EBIT margin | 49.5% |
P&L walk
Standalone revenue increased to ₹31.93 lakh, up 14.1% YoY, while EBITDA reached ₹15.82 lakh, up 34.4%, and EBIT reached ₹15.52 lakh, up 35.1%; PAT rose 35.4% to ₹11.6 lakh, but ₹6.86 lakh of other income represented 44.2% of PBT and makes earnings quality a key watchpoint.
Key positives
- Revenue reached ₹31.93 lakh, up 14.1% YoY, reversing the weak recent sales trajectory indicated by the company's 3-year sales CAGR of -20.64%.
- EBITDA increased 34.4% YoY to ₹15.82 lakh versus 14.1% revenue growth, while EBIT increased 35.1% to ₹15.52 lakh.
- IPO proceeds of ₹2,391.27 lakh were allocated to financial capital expenditure intended to enhance manufacturing capacity.
Key concerns
- Other income of ₹6.86 lakh was 44.2% of PBT, making the 35.4% PAT growth less representative of recurring operating performance.
- The filing does not disclose packaging volumes, realisations, capacity utilisation or order-book data, limiting assessment of whether revenue growth was volume-led or price/mix-led.
Earnings quality: includes non-operating other income
Research and educational content only. Not investment advice.