Talbros Auto. Q1 FY27 Results (NSE: TALBROAUTO)
Signal: Steady quarter
The read
The earnings inflected into a stronger growth phase: consolidated revenue increased 15.3% YoY after only 0.8% in Q2FY26, 6.5% in Q3FY26 and 15.1% in Q4FY26, while PAT rose 35.2% YoY; however, the uplift is partly JV-led through ₹609.29 lakh of profit share and gross-margin expansion of 139bps was below the 150bps input-cost signal threshold.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹238.41 Cr | +15.3% | +0.8% |
| Net profit | ₹30.02 Cr | +35.2% | |
| EPS | ₹4.86 | +35.0% | |
| EBIT margin | N/A |
P&L walk
Consolidated revenue rose to ₹23,840.56 lakh, +15.3% YoY and +0.8% QoQ, while profit before JV share and tax grew 44.4% YoY; the ₹609.29 lakh JV contribution lifted PAT to ₹3,001.50 lakh, although PAT fell 5.1% QoQ.
Segments
The filing identifies Auto Components & Parts as the only reportable segment; the material consolidated-versus-standalone gap is the ₹609.29 lakh joint-venture profit contribution, which lifted consolidated PAT 25.5% above standalone PAT.
Key positives
- Consolidated revenue reached ₹23,840.56 lakh, up 15.3% YoY versus 6.5% in Q3FY26, showing a clear growth acceleration.
- Profit before JV share and tax rose 44.4% YoY to ₹3,457.27 lakh, materially ahead of revenue growth, while finance costs fell 15.5% YoY to ₹279.47 lakh.
- Joint-venture profit contribution increased 52.4% YoY to ₹609.29 lakh, making the group result stronger than the standalone result.
- EPS rose 35.0% YoY to ₹4.86, broadly tracking the 35.2% PAT increase without a dilution signal.
Key concerns
- PAT declined 5.1% QoQ to ₹3,001.50 lakh despite revenue rising 0.8% QoQ, indicating sequential profit moderation.
- Raw material cost increased to 54.3% of revenue from 51.6% YoY, while gross-margin expansion was only 139bps and was partly driven by a ₹930.76 lakh inventory-change credit.
- The ₹609.29 lakh JV contribution represented approximately 20.3% of consolidated PAT, increasing dependence on investee performance for group earnings growth.
Research and educational content only. Not investment advice.