DIC India Q3 FY27 Results (NSE: DICIND)
Signal: Steady quarter
The read
The trajectory remains positive on a nine-month basis, with revenue at ₹79,849.35 lakh, +22.3% YoY, and PAT at ₹2,043.19 lakh, +68.3% YoY; however, Q3 gross-margin quality weakened as raw-material intensity rose 600bps YoY to 80.3%, while PAT fell 61.8% QoQ from ₹1,426.73 lakh and included a ₹238.45 lakh labour-code exceptional expense.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹274.02 Cr | 22.8% | 28.1% |
| Net profit | ₹5.45 Cr | 48.5% | |
| EPS | ₹5.94 | 48.5% |
P&L walk
Standalone revenue increased to ₹27,401.62 lakh, +22.8% YoY and +28.1% QoQ, while PAT rose 48.5% YoY to ₹545.13 lakh but fell from ₹1,426.73 lakh in the preceding quarter; raw-material intensity increased 600bps YoY to 80.3%, and the quarter included a ₹238.45 lakh labour-code exceptional expense.
Key positives
- Revenue from operations reached ₹27,401.62 lakh, up 22.8% YoY and 28.1% QoQ, sustaining the company’s double-digit growth trajectory.
- Nine-month PAT rose 68.3% YoY to ₹2,043.19 lakh, materially ahead of nine-month revenue growth of 22.3%.
- EPS increased 48.5% YoY to ₹5.94 and tracked PAT, indicating no disclosed dilution or minority-interest drag.
Key concerns
- Raw-material consumption rose 32.7% YoY to ₹22,011.76 lakh, faster than revenue growth, taking raw-material intensity to 80.3% from 74.3%.
- PAT declined 61.8% QoQ to ₹545.13 lakh from ₹1,426.73 lakh, showing a sharp sequential moderation after the prior quarter.
- Finance costs increased 43.0% YoY to ₹47.52 lakh, faster than revenue growth, although the absolute burden remains modest.
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