Q1 FY27 Results: PAT jumps 140% YoY to Rs. 16.74 cr; Denim Garment JV approved
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On the reaction day the stock moved 5.1 pts less than Nifty Microcap 250 and 4.7 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Board approved Q1 FY27 unaudited results. Standalone revenue at Rs. 1,161.24 cr versus Rs. 1,169.19 cr YoY. Net profit surged to Rs. 16.74 cr from Rs. 6.96 cr, up about 140 percent. Also approved a Denim Garment JV with NDS9 Pvt Ltd named LNJ NDS9 Global Pvt Ltd at a project cost of Rs. 186.30 cr, funded 30 percent equity and 70 percent term loans. Promoter group allotted 24.7 lakh convertible warrants at Rs. 146 each, received Rs. 9.02 cr upfront.
Strong PAT growth shows margin improvement. New denim garment JV marks forward integration. Warrants to promoter group carry future dilution risk on conversion.