Bombay Super Hyb Q1 FY27 Results (NSE: BSHSL)
Signal: Steady quarter
The read
The key trajectory is a sharp Q1 rebound in revenue to ₹18,257.01 lakh, +19.4% YoY and +174.8% QoQ, but PAT growth of +16.6% YoY lagged revenue as other expenses rose 53.2% YoY; gross margin was modestly better YoY at 15.89% but sharply below Q4's 21.22%, leaving the sustainability of the rebound dependent on cost absorption and mix.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹182.57 Cr | +19.4% | +174.8% |
| Net profit | ₹14.3 Cr | +16.6% | |
| EPS | ₹1.36 | +16.2% |
P&L walk
Standalone revenue was ₹18,257.01 lakh, +19.4% YoY and +174.8% QoQ, while gross margin improved 66bps YoY to 15.89% but fell 533bps QoQ; PAT rose 16.6% YoY to ₹1,430.18 lakh, below revenue growth as other expenses increased 53.2% YoY and other income rose to ₹50.56 lakh.
Key positives
- Revenue from operations rose to ₹18,257.01 lakh, +19.4% YoY, marking a significant improvement from ₹6,642.76 lakh in Q4.
- PAT increased to ₹1,430.18 lakh, +16.6% YoY, with basic EPS rising 16.2% to ₹1.36.
- Gross margin improved 66bps YoY to 15.89%, while finance costs increased only 3.7% YoY to ₹204.31 lakh.
Key concerns
- PAT growth of +16.6% YoY trailed revenue growth of +19.4% as other expenses increased 53.2% YoY to ₹1,091.89 lakh.
- Gross margin contracted 533bps sequentially from 21.22% in Q4 to 15.89%, making the quarter's profitability sensitive to product mix and inventory-cost movements.
- Other income increased 209.5% YoY to ₹50.56 lakh, although it remained modest relative to profit before tax of ₹1,525.26 lakh.
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