Q1 FY27 Earnings Call: Revenue Down 12%, Gross Margin Expands to 31.6%

Mgmt Guided Margin ImprovementMgmt Guided Margin PressureOrder Pipeline DisclosedAnalyst Day Multiyear TargetsInvestor Communications View source PDF Explain this filing

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₹630.00

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AI summary

Q1 FY27 revenue fell 12% YoY to INR612 cr on delayed monsoon and 13% volume decline, partly offset by 2% price growth. Gross margin rose to 31.6% on premium mix, but EBITDA margin dropped to 11.1% and PAT margin to 7.2%. Premium portfolio at 64% of B2C, target 70% in 3-4 years. Guidance: business to double in 4-5 years, ROCE improvement from Q3, capex normalizing at INR30-40 cr. Sotanala INR200 cr project progressing. New Corteva launches Granuvia and Spinoace seen at INR30-35 cr for FY27.

Likely market impact

Soft Q1 on weather; mgmt expects stronger H2 with margin recovery, ROCE improvement from Q3, and new product ramp-up. Capex cycle nearing end.