BirlaNu Q1 FY27: India margins surge as Parador absorbs Europe turbulence

Consolidated revenue was INR 1,174 crores (up 12% YoY) and EBITDA was INR 80 crores (up 35% YoY). Consolidated PAT was INR 9 crores versus a loss of INR 1 crore in Q1 FY26.

Standalone revenue was INR 824 crores (up 10% YoY), EBITDA was INR 97 crores (up 70% YoY), and PAT was INR 50 crores (up 153% YoY).

Roofs reported revenue of INR 517 crores, up 17% YoY, and PBT of INR 90 crores, up 52% YoY. Management called it a record quarter with market share gain.

Management cited sharp PVC resin price swings, including a roughly 30% decline in April, which impacted channel offtake and volumes. The combined Pipes and Construction Chemicals segment revenue declined 5% YoY to INR 159 crores, though losses narrowed.

Parador (Floors segment) revenue was INR 341 crores, up 12% YoY, but profitability worsened with segment PBT at minus INR 37 crores. Management cited cost pressures and about EUR 1 million of SAP and front-ended maintenance related costs.

The Board approved a greenfield designer boards plant in Hyderabad with estimated capex of INR 167 crores, with a stated revenue target of about INR 140 crores and asset turn of 0.9x. The Nellore boards plant is targeted for commissioning in Q4 FY27.

Gross borrowings reduced from INR 852 crores (March 2026) to INR 758 crores (June 2026). The CFO also confirmed debt-equity covenants were not met in 2026 and waivers were taken from banks.