Key Consolidated Financial Performance (Q1 FY27 vs Q1 FY26)

  • Revenue from Operations: ₹167.3 Cr (vs ₹132.9 Cr in Q1 FY26), representing 25.9% year-on-year growth
  • EBITDA: ₹29.7 Cr (vs ₹23.5 Cr in Q1 FY26), representing 26.0% year-on-year growth
  • EBITDA Margin: 17.7% (unchanged from Q1 FY26 at 17.7%)
  • PAT: ₹17.3 Cr (vs ₹15.2 Cr in Q1 FY26), representing 13.4% year-on-year growth
  • PAT Margin: 10.3% (vs 11.5% in Q1 FY26), a decline of 120 basis points

Quarterly Comparison (Consolidated Q1 FY27 vs Q4 FY26)

  • Revenue from Operations: ₹167.3 Cr (vs ₹196.7 Cr in Q4 FY26), representing 15.0% quarter-on-quarter decline
  • EBITDA: ₹29.7 Cr (vs ₹34.3 Cr in Q4 FY26), representing 13.5% quarter-on-quarter decline
  • EBITDA Margin: 17.7% (vs 17.4% in Q4 FY26), improvement of 30 basis points
  • PAT: ₹17.3 Cr (vs ₹25.9 Cr in Q4 FY26), representing 33.3% quarter-on-quarter decline
  • PAT Margin: 10.3% (vs 13.2% in Q4 FY26), decline of 290 basis points

Key Standalone Financial Performance (Q1 FY27 vs Q1 FY26)

  • Revenue from Operations: ₹120.9 Cr (vs ₹100.3 Cr in Q1 FY26), representing 20.5% year-on-year growth
  • EBITDA: ₹27.5 Cr (vs ₹22.5 Cr in Q1 FY26), representing 22.6% year-on-year growth
  • EBITDA Margin: 22.8% (vs 22.4% in Q1 FY26), improvement of 40 basis points
  • PAT: ₹18.3 Cr (vs ₹17.0 Cr in Q1 FY26), representing 7.6% year-on-year growth
  • PAT Margin: 15.1% (vs 16.9% in Q1 FY26), decline of 180 basis points

Quarterly Comparison (Standalone Q1 FY27 vs Q4 FY26)

  • Revenue from Operations: ₹120.9 Cr (vs ₹150.3 Cr in Q4 FY26), representing 19.5% quarter-on-quarter decline
  • EBITDA: ₹27.5 Cr (vs ₹36.5 Cr in Q4 FY26), representing 24.7% quarter-on-quarter decline
  • EBITDA Margin: 22.8% (vs 24.3% in Q4 FY26), decline of 150 basis points
  • PAT: ₹18.3 Cr (vs ₹30.1 Cr in Q4 FY26), representing 39.3% quarter-on-quarter decline
  • PAT Margin: 15.1% (vs 20.0% in Q4 FY26), decline of 490 basis points

Key Business Highlights

  • Achieved AEO-T3 certification, enabling faster customs clearances, streamlined compliance, and working capital efficiency for export operations
  • Commenced commercial deliveries from Surat greenfield facility
  • Strong performance across brands: Ashoka sustained growth through robust diaspora demand and deeper international market penetration; Truly Indian showed strong momentum through expanded distribution and increasing consumer adoption
  • Products available in 60+ countries through distribution network across North America, UK, EU, Middle East & Asia Pacific

Management Commentary

Mr. Bimal Thakkar, Chairman & Managing Director, stated that this represents the fourth consecutive quarter of strong double-digit growth. Growth drivers included deeper shelf-space penetration, category diversification, new product listings, and strong execution across key international markets. Performance was achieved despite geopolitical uncertainties including West Asia conflict, trade-route disruptions, vessel shortages, and elevated freight costs. The quarter was supported by a robust order book, though shipping and container constraints limited full conversion of customer demand into revenue.

Profitability was supported by favorable product mix, frozen foods momentum, operational efficiencies, and disciplined cost management. The company remains focused on strengthening brands, expanding distribution footprint, scaling new capacities, and driving sustainable long-term growth despite ongoing uncertainties around geopolitical developments, freight cost volatility, and vessel availability.