Kopran Q1 FY27 Results: Revenue Up, Profit Slips

Key takeaways from Kopran’s June-quarter filing

Kopran Limited (NSE: KOPRAN) has opened FY2026-27 with higher year-on-year operating revenue but lower profit after tax, according to its unaudited results for the quarter ended June 30, 2026 (Q1 FY27). The company’s board approved the standalone and consolidated financial statements at a meeting held on August 7, 2026. The results were reviewed by statutory auditors Khandelwal Jain & Co., who issued an unmodified review conclusion under Regulation 33 of SEBI’s LODR requirements.

On a consolidated basis, revenue from operations rose to ₹153.99 crore in Q1 FY27 from ₹135.22 crore in Q1 FY26. Profit after tax (PAT), however, declined to ₹6.70 crore from ₹7.45 crore over the same period. The quarter also shows a sharp sequential slowdown versus Q4 FY26, when revenue from operations stood at ₹234.02 crore and PAT was ₹18.87 crore.

Board meeting details and audit status

The board meeting commenced at 10:45 and concluded at 12:40 on August 7, 2026. Acting on the Audit Committee’s recommendation, the board approved unaudited standalone and consolidated results for the quarter.

The company stated that both sets of financial statements were prepared under Ind AS 34 and reviewed under SRE 2410 by Khandelwal Jain & Co. (Firm Registration No. 105049W). The auditors’ conclusion was unmodified, indicating no qualification in the limited review.

Kopran also submitted the unaudited financial results and an investor presentation to BSE Limited and the National Stock Exchange of India Limited on the same day.

Consolidated performance: revenue up YoY, profit down

Kopran’s consolidated revenue from operations for Q1 FY27 stood at ₹153.99 crore, compared with ₹135.22 crore in Q1 FY26. This implies year-on-year growth based on operating revenue, even as profit moved in the opposite direction.

Consolidated PAT for Q1 FY27 came in at ₹6.70 crore, versus ₹7.45 crore in Q1 FY26, a decline of about 10.1% year-on-year using the reported figures. The filing also shows basic and diluted earnings per share (EPS) of ₹1.39 for Q1 FY27, compared with ₹1.54 in Q1 FY26.

In addition to operating revenue, the company reported total consolidated income of ₹156.05 crore in Q1 FY27, against ₹137.77 crore in Q1 FY26. Total consolidated expenses were reported at ₹147.25 crore, resulting in a consolidated profit before tax (PBT) of ₹8.80 crore for the June quarter.

Profitability and cost lines: EBITDA, margin, finance costs

Consolidated EBITDA for Q1 FY27 was ₹15.88 crore, compared with ₹14.29 crore in Q1 FY26. Despite the higher EBITDA in absolute terms, the EBITDA margin was 10.31% in Q1 FY27 versus 10.57% a year ago.

A key point for readers tracking operating efficiency is the sharp sequential shift: Q4 FY26 recorded an EBITDA margin of 17.38%, while Q1 FY27 came in at 10.31%. The tabled results also show finance costs at ₹3.28 crore in Q1 FY27, up from ₹2.54 crore in Q1 FY26.

Depreciation for Q1 FY27 was ₹5.77 crore, compared with ₹4.26 crore in the year-ago quarter. Alongside finance costs, this line item affects how much of operating profit converts into net profit.

Forex swing: gains continue, but lower than last year

The quarter included a forex gain of ₹1.98 crore in Q1 FY27. This compares with a forex gain of ₹2.39 crore in Q1 FY26.

The sequential comparison is more stark: Q4 FY26 saw a forex loss of ₹7.63 crore. Against that backdrop, the return to a forex gain in Q1 FY27 reduced pressure on profitability compared with the immediately preceding quarter.

Standalone results: sharp improvement in PAT

On a standalone basis, revenue from operations for Q1 FY27 was ₹62.76 crore, up from ₹51.33 crore in Q1 FY26. Standalone profit before tax was ₹8.78 crore in Q1 FY27, compared with ₹4.61 crore in Q1 FY26.

Standalone PAT improved to ₹6.72 crore in Q1 FY27 from ₹3.52 crore in Q1 FY26. Standalone basic EPS was ₹1.39 versus ₹0.73 in the prior-year quarter.

The company also disclosed that there were no exceptional items recorded in either period referenced in the filing.

Q1 vs Q4: what changed quarter-on-quarter

While the year-on-year comparison shows higher operating revenue, Q1 FY27 was substantially lower than Q4 FY26 on most reported metrics. Revenue from operations fell from ₹234.02 crore in Q4 FY26 to ₹153.99 crore in Q1 FY27, a decline of about 34.2% on a sequential basis.

EBITDA declined from ₹40.66 crore in Q4 FY26 to ₹15.88 crore in Q1 FY27, and PAT fell from ₹18.87 crore to ₹6.70 crore over the same period. The EBITDA margin also reduced to 10.31% in Q1 FY27 from 17.38% in Q4 FY26.

These quarter-on-quarter shifts are visible in the company’s own tabulated disclosures and align with the separate market snapshot noting short-term operational headwinds.

Summary table: reported financial metrics (₹ crore)

Corporate action context: dividend track record

The disclosed material also points to a dividend pattern. Kopran’s board declared a final dividend of ₹3.00 per equity share for the fiscal year ended March 31, 2026.

Separately, the disclosure notes that the company has recommended or declared a final dividend of ₹3.00 per equity share every year since FY2022, with payouts announced in May each year. For FY2026-27 so far, the company indicated that no interim dividend has been announced to date, and that the August 7 board meeting was specifically for quarterly results.

Market impact: what investors can directly infer

From an investor perspective, the June-quarter update sets a clear near-term picture. Consolidated operating revenue increased year-on-year, but PAT and EPS declined versus the prior-year quarter. The sequential fall versus Q4 FY26 is also significant across revenue, EBITDA, margin, and net profit.

The filing provides line-item visibility into costs and non-operating factors. Finance costs and depreciation rose year-on-year, while forex gains were lower than last year but improved sharply from the preceding quarter’s loss. Since the auditor review conclusion was unmodified, the market can treat the presented numbers as reviewed under the limited review framework.

Analysis: why the Q1 print matters

Q1 FY27 is Kopran’s first quarterly disclosure of the fiscal year, and it establishes the starting point for FY2026-27 against the full-year FY2025-26 base of ₹681.42 crore in operating revenue and ₹25.73 crore in net profit. The company’s EBITDA margin of 10.31% in Q1 FY27 sits below the 11.48% reported for FY2025-26, based on the disclosed table.

Another relevant marker is the divergence between consolidated and standalone profitability trends. Consolidated PAT declined year-on-year, while standalone PAT increased sharply, suggesting that investors may want to track how subsidiary-level performance, consolidation adjustments, and other income or expenses are shaping the consolidated outcome.

Conclusion

Kopran’s Q1 FY27 results show higher consolidated operating revenue of ₹153.99 crore but lower PAT of ₹6.70 crore, with an EBITDA margin of 10.31%. The unaudited results were approved by the board on August 7, 2026 and reviewed with an unmodified conclusion by the statutory auditors.

The next checkpoints for shareholders will be subsequent quarterly filings through FY2026-27, alongside any future board decisions on interim dividends or other corporate actions beyond the June-quarter results.