A C J K Exports Q1 FY27 Results (NSE: AEROPLANE)
Signal: Growth reaccelerated
The read
Consolidated PAT surged 127.5% YoY driven by 55% revenue growth and a sharp 35.7% decline in finance cost, but gross margin contracted 171bps due to higher raw material costs, and EPS growth lagged due to IPO dilution.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹663.73 Cr | 55.1% | -4.5% |
| EBIT | ₹61.25 Cr | 44.2% | |
| Net profit | ₹36.63 Cr | 127.5% | |
| EPS | ₹3.55 | 81.1% | |
| EBIT margin | 9.23% |
P&L walk
Revenue growth of 55.1% YoY driven by higher export sales, but sequential decline of 4.5% due to seasonality; gross margin contracted 171bps YoY on higher raw material cost; EBITDA margin improved sequentially from Q4's 6% but contracted YoY; PAT surged 127.5% YoY largely due to 35.7% drop in finance cost and higher other income.
Key positives
- Revenue growth of 55.1% YoY to ₹6,637.32 Mn, indicating strong demand for Aeroplane rice.
- PAT growth of 127.5% YoY to ₹366.27 Mn, driven by revenue growth and 35.7% reduction in finance cost.
- Successful IPO in April 2026 raised ₹4,111 Mn, with 97% of working capital portion already utilised.
Key concerns
- Gross margin contracted 171bps YoY to 14.06% due to higher raw material cost as % of revenue (85.94% vs 84.23%).
- EBITDA margin contracted 90bps YoY despite revenue growth, reflecting input cost pressure.
- EPS growth (81.1%) lags PAT growth (127.5%) due to dilution from IPO; new Singapore subsidiary yet to start operations.
Research and educational content only. Not investment advice.