Indo Count Industries Limited announced its unaudited standalone and consolidated financial results for the quarter ended 30th June 2026, approved by the Board of Directors at their meeting held on 12th August 2026. The meeting commenced at 12:30 p.m. and concluded at 2:15 p.m. IST.
Consolidated Financial Performance (Q1 FY27)
The company reported strong consolidated financial results:
- Revenue from operations: ₹1,206.96 crore (26% increase from ₹958.71 crore in Q1 FY26)
- Other income: ₹17.05 crore
- Total income: ₹1,224.01 crore
- Profit before tax: ₹83.51 crore (65% increase from ₹50.54 crore in Q1 FY26)
- Tax expense: ₹20.29 crore (Current tax: ₹19.07 crore, Deferred tax: ₹1.21 crore)
- Net profit: ₹63.22 crore (62% increase from ₹39.02 crore in Q1 FY26)
- Basic and diluted EPS: ₹3.19 (compared to ₹1.97 in Q1 FY26)
- Total comprehensive income: ₹84.85 crore
Standalone Financial Performance (Q1 FY27)
The standalone results showed:
- Revenue from operations: ₹819.44 crore
- Other income: ₹20.29 crore
- Total income: ₹839.72 crore
- Profit before tax: ₹90.87 crore
- Tax expense: ₹24.09 crore (Current tax: ₹19.15 crore, Deferred tax: ₹4.94 crore)
- Net profit: ₹66.78 crore
- Basic and diluted EPS: ₹3.37
- Total comprehensive income: ₹88.60 crore
Comparative Performance
Comparative figures for previous periods:
- Q4 FY26 (Unaudited): Net profit ₹24.20 crore, EPS ₹1.23
- Q1 FY26 (Unaudited): Net profit ₹39.02 crore, EPS ₹1.97
- FY26 (Audited): Net profit ₹126.68 crore, EPS ₹6.40
Business Combinations and Restatements
The notes disclose two significant acquisitions:
1. Indo Count Global Inc. acquired 81% stake in Fluvitex USA Inc. for US$19.63 million (₹164.46 crore) in Q3 FY25, with option to purchase remaining 19% by September 30, 2029 for US$4.6 million (₹39.39 crore)
2. Indo Count Global Inc. acquired 100% stake in Modern Home Textile Inc. for US$11.89 million (₹99.96 crore) in Q3 FY25
Purchase price allocations for both acquisitions were finalized in Q2 FY26, resulting in restatement of Q1 FY25 figures with minimal impact on cost of materials consumed, depreciation, and profit metrics.
Segment Information
The Group operates in a single reportable segment - Textile Business.
Significant Events and Notes
1. Labour Code Impact: The Government notified four Labour Codes on November 21, 2025. The Group recognized incremental impact of ₹9.61 crore (Gratuity: ₹8.82 crore, Compensated absences: ₹0.79 crore) as past service cost in FY26 results due to change in wages definition.
2. Managerial Remuneration: The company paid/provided managerial remuneration of ₹2.96 crore without requisite approvals and will seek shareholder approval at the ensuing AGM.
3. Finance Cost: Includes interest of ₹12.82 crore paid on delayed refund of IGST to Maharashtra State GST authorities following their search and inspection of records in March 2026.
4. Flood Impact: Operations at the Bhilad (Gujarat) manufacturing facility were temporarily affected since July 23, 2026 due to unprecedented rainfall and flooding. All assets are adequately insured, and assessment by surveyor is ongoing. No financial impact recognized in current quarter results as it's a non-adjusting event.
Subsidiary Information
The consolidated results include 8 subsidiaries. For one subsidiary (including four step-down subsidiaries), reviewed by other auditors, total revenues were ₹482.42 crore with net loss of ₹0.94 crore for the quarter. Three subsidiaries with total revenue of ₹9.85 crore and net loss of ₹2.45 crore were not reviewed by their auditors but were considered immaterial to the Group.
Equity Structure
Paid-up equity share capital remained unchanged at ₹39.61 crore (face value ₹2 each).