Pasupati Acrylon Q1 FY27 Results (NSE: PASUPTAC)
Signal: Revenue declined
The read
The trajectory is a mix-led recovery rather than broad-based demand momentum: revenue was ₹238.26 crore, down 2.6% YoY, but ethanol revenue rose to ₹62.95 crore from ₹23.12 crore and PAT increased 133.2% to ₹27.39 crore; the durability of earnings depends on Fibre and CPP Film stabilising.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹238.26 Cr | -2.6% | +17.7% |
| EBIT | ₹38.95 Cr | +2.9% | |
| Net profit | ₹27.39 Cr | +133.2% | |
| EPS | ₹3.07 | +132.6% | |
| EBIT margin | 17.7% |
P&L walk
Revenue was ₹238.26 crore, down 2.6% YoY but up 17.7% QoQ; EBITDA was ₹42.1 crore at a 17.7% margin, EBIT was ₹38.95 crore and PAT increased 133.2% YoY to ₹27.39 crore, helped by the low year-ago base.
Segments
Ethanol was the clear growth engine at ₹62.95 crore of revenue versus ₹23.12 crore in the comparative period, while Fibre at ₹143.66 crore and CPP Film at ₹31.65 crore were materially weaker.
Key positives
- PAT rose 133.2% YoY to ₹27.39 crore and EPS rose 132.6% to ₹3.07, with EPS tracking PAT.
- Ethanol revenue increased 172.3% YoY to ₹62.95 crore, providing the main offset to weaker Fibre and CPP Film revenue.
- EBITDA was ₹42.1 crore at a 17.7% margin, while finance cost was contained at ₹2.26 crore.
Key concerns
- Consolidated revenue is down 2.6% YoY to ₹238.26 crore, indicating that the earnings improvement is not yet broad-based.
- Fibre revenue fell 13.6% YoY to ₹143.66 crore and CPP Film revenue fell 42.2% to ₹31.65 crore.
- The quarterly revenue mix is becoming more dependent on Ethanol, whose revenue fell 44.7% sequentially from ₹113.85 crore.
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