Sh. Jagdamba Pol Q1 FY27 Results (NSE: SHRJAGP)
Signal: Margin expansion
The read
The key inflection is a YoY gross-margin recovery to 43.6%, up 228bps as raw-material cost fell to 54.8% of revenue, driving EBITDA margin to 17.3% and PAT to ₹2,000.53 lakh, but the 231bps sequential EBITDA-margin decline from Q4FY26's 19.6% shows that the recovery has not yet become a sustained upward margin trend.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹194.58 Cr | +37.1% | +58.0% |
| EBIT | ₹29.96 Cr | +101.5% | |
| Net profit | ₹20.01 Cr | +61.8% | |
| EPS | ₹22.84 | +61.8% | |
| EBIT margin | 17.3% |
P&L walk
Consolidated total income was ₹19,457.92 lakh, +37.1% YoY and +58.0% QoQ, with gross margin expanding 228bps YoY as raw-material cost fell to 54.8% of revenue from 56.9%; EBITDA margin rose to 17.3% from 12.3% YoY but declined 231bps QoQ, while finance costs increased 291.8% YoY and PAT rose 61.8% to ₹2,000.53 lakh.
Segments
The filing reports only one primary segment, manufacturing of technical textiles; the subsidiary contributed ₹1,534.30 lakh of revenue and ₹105.18 lakh of profit, lifting consolidated PAT above standalone PAT by ₹105.19 lakh.
Key positives
- Consolidated total income reached ₹19,457.92 lakh, +37.1% YoY, led by manufactured goods revenue of ₹18,951.90 lakh, +37.7% YoY.
- Gross margin expanded 228bps YoY to 43.6% as raw-material cost declined to 54.8% of revenue from 56.9%; driver not disclosed.
- EBITDA rose 93.4% YoY to ₹3,363.61 lakh versus total-income growth of 37.1%, with EBITDA margin expanding 503bps YoY to 17.3%.
- Subsidiary Global Polyweave contributed ₹1,534.30 lakh of revenue and ₹105.18 lakh of net profit, creating a ₹105.19 lakh consolidated-versus-standalone PAT uplift.
Key concerns
- EBITDA margin declined 231bps QoQ to 17.3% from 19.6%, following the 970bps YoY contraction reported in Q4FY26; sequential margin recovery is therefore unproven.
- Finance costs increased 291.8% YoY to ₹359.04 lakh, materially faster than revenue growth, even though they fell 57.5% QoQ.
- Consolidated revenue growth of 37.1% YoY remains below the Q1FY26 revenue base's 99.2% YoY growth, indicating substantial deceleration from the recent peak.
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