Neuland Labs. Q1 FY27 Results (NSE: NEULANDLAB)
Signal: Margin expansion
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹6.42 Cr | 119.2% | -17.4% |
| EBIT | ₹2.05 Cr | N/A | |
| Net profit | ₹1.48 Cr | 962.4% | |
| EPS | ₹115.1 | 962.4% | |
| EBIT margin | 36.1% |
P&L walk
Revenue surged 119% YoY to ₹641.58 Cr, driven by a massive jump in Europe (₹303.46 Cr vs ₹94.41 Cr, +221%) and USA/North America (₹199.67 Cr vs ₹65.78 Cr, +203%) segments, partly off a weak prior-year base. Gross margin expanded to 64.3% (implied from raw material cost of ₹228.77 Cr, 35.7% of revenue, vs 55.1% a year ago), adding ~920bps — input cost deflation plus favourable mix. Operating leverage kicked in: EBITDA grew to ₹231.38 Cr (36.1% margin) vs ₹36.06 Cr (12.3% margin) a year ago — a 542% growth on a 119% revenue rise (+423pp gap), as employee costs grew only 45%, D&A 32%, and manufacturing + other expenses 44% — all far slower than revenue. EBIT of ₹204.82 Cr vs ₹8.43 Cr prior. Finance cost increased 52% to ₹6.97 Cr, modest relative to operating profit. PAT at ₹147.67 Cr (vs ₹13.90 Cr), effective tax rate ~25% consistent. EPS ₹115.10 vs ₹10.83, tracking PAT growth exactly — no dilution.
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