Mumbai: Bhagyanagar India Ltd reported a 167 percent year-on-year increase in consolidated net profit to USD 20.2 crore for the quarter ended June 30, 2026, while revenue from operations rose to USD 705.1 crore.
Profit improved from USD 7.6 crore in the corresponding quarter last year and from USD 18.5 crore in the March 2026 quarter, reflecting stronger profitability despite sequential moderation in revenue.
Opening Performance Summary
The company posted consolidated revenue from operations of USD 705.1 crore in Q1 FY27 compared with USD 485.6 crore in Q1 FY26.
Total income increased to USD 705.9 crore from USD 488.6 crore a year earlier, while profit before tax rose to USD 27.1 crore from USD 10.1 crore. Net profit stood at USD 20.2 crore, up from USD 7.6 crore in the year-ago period.
Sequential Growth
On a quarter-on-quarter basis, revenue from operations declined from USD 734.5 crore in Q4 FY26 to USD 705.1 crore in Q1 FY27. However, profit before tax improved to USD 27.1 crore from USD 24.5 crore, while net profit increased to USD 20.2 crore from USD 18.5 crore.
Total expenses moderated to USD 678.8 crore from USD 710.6 crore in the preceding quarter, supporting earnings growth. The company reported no exceptional items during the quarter.
Key Drivers
Raw material consumption stood at USD 588.5 crore, while changes in inventories amounted to USD 53.8 crore during the quarter. Employee benefit expenses were USD 4.0 crore, finance costs USD 9.9 crore, depreciation USD 2.0 crore, and other expenses USD 20.5 crore.
Basic and diluted earnings per share came in at USD 6.33, compared with USD 2.37 in Q1 FY26. The company also disclosed that shareholders approved a preferential issue of up to 15,01,434 equity shares at USD 348 per share, subject to regulatory approvals.
Other Developments
Bhagyanagar India said it deposited USD 17.5 crore under protest following a GST show-cause notice alleging irregular availment of input tax credit. Based on legal opinion and judicial precedents, the company believes no liability is expected to materialise and, accordingly, has not recognised any provision.
Separately, the proposed composite scheme of arrangement remains pending before the National Company Law Tribunal, with the matter scheduled for hearing on August 7, 2026.
Disclaimer: This report is based on unaudited financial results filed by the company and does not constitute investment advice.
