Tolins Tyres Q1 FY27 Results (NSE: TOLINS)
Signal: Revenue declined
The read
The trajectory remains under pressure: after four consecutive quarters of YoY EBITDA-margin contraction through Q4FY26, Q1FY27 margin fell another 350bps YoY to 11.5%, while revenue declined 11.7% and PAT declined 33.4%; the key inflection to monitor is whether India resilience and operational-efficiency efforts can offset continuing UAE and input-cost volatility.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹79.27 Cr | -11.7% | +1.6% |
| EBIT | ₹8.19 Cr | -37.4% | |
| Net profit | ₹6.19 Cr | -33.4% | |
| EPS | ₹1.57 | -36.7% | |
| EBIT margin | 11.5% |
P&L walk
Consolidated revenue was ₹79.27 crore, down 11.7% YoY but up 1.6% sequentially, while EBITDA fell 35.4% to ₹9.15 crore and EBITDA margin contracted 350bps YoY to 11.5%; UAE disruption from war-related trade and logistics pressure, alongside raw-material and supply-chain volatility, drove the operating decline.
Segments
The consolidated group materially outperformed the parent: consolidated revenue was ₹79.27 crore versus standalone revenue of ₹45.51 crore and consolidated PAT was ₹6.19 crore versus ₹3.12 crore; India contributed ₹69.28 crore and UAE ₹9.99 crore, but the UAE business was specifically dragged by war-related trade and logistics disruption.
Key positives
- India operations contributed ₹69.28 crore, approximately 87% of consolidated revenue, cushioning the UAE business's ₹9.99 crore contribution amid war-related logistics disruption.
- Consolidated revenue of ₹79.27 crore was 1.6% above Q4FY26 revenue of ₹77.99 crore, although still down 11.7% YoY.
- The company is expanding Terra Rubber within the circular-rubber ecosystem, creating a stated additional long-term growth platform beyond the core tyre business.
Key concerns
- Consolidated EBITDA declined 35.4% YoY to ₹9.15 crore and EBITDA margin contracted 350bps to 11.5%, extending the recent margin-contraction trend.
- Revenue declined 11.7% YoY to ₹79.27 crore, reversing the 33.8% YoY growth recorded in Q3FY26 and showing a weaker demand and operating environment.
- Standalone revenue fell 28.1% YoY to ₹45.51 crore, substantially worse than the consolidated decline, indicating weakness in the parent business even after group-level support.
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