Jagsonpal Pharma Q1 FY27 Results (NSE: JAGSNPHARM)
Signal: Steady quarter
The read
Q1FY27 standalone results show revenue growth of 8.75% YoY, with sharper 22.15% PAT growth driven by operating leverage (other expenses -9.6% YoY) and lower tax rate. The acquisition of 85% stake in Aequitas Healthcare (hospital segment) closed in July 2026, so no consolidation impact yet; this quarterly trajectory reflects only the core pharma business.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹82.23 Cr | 8.75% | 28.08% |
| EBIT | ₹15.55 Cr | 30.88% | |
| Net profit | ₹13.19 Cr | 22.15% | |
| EPS | ₹2 | 25.00% | |
| EBIT margin | 18.91% |
P&L walk
Revenue growth of 8.75% YoY combined with a decline in other expenses and modest fixed-cost growth drove EBITDA margin expansion, while lower tax rate boosted PAT growth.
Segments
Company operates as a single reportable segment – pharmaceuticals manufacturing and trading; no segment breakdown provided.
Key positives
- Other expenses declined 9.6% YoY (₹135.9 Mn vs ₹150.3 Mn), supporting EBITDA margin expansion despite higher employee costs.
- PAT grew 22.15% YoY, significantly outpacing revenue growth, driven by operational efficiency and a lower effective tax rate (28.39% vs 33.27% in Q1FY26).
Key concerns
- Employee benefit expense grew 17.16% YoY, materially faster than revenue (+8.75%), due to new labour code provisions and ESOPs – a recurring cost headwind.
- Gross margin contracted 58bps YoY – input cost pressures (cost of materials + purchases + inventory change as % of revenue rose) offset by operating leverage on the fixed-cost base.
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