Gujarat Ambuja Exports (GAEL) Q1 26/27 earnings summary

Executive summary

• Standalone Q1 FY27 revenue rose 23.5% YoY to ₹1,594.27 Cr; EBITDA increased 113.7% to ₹271.13 Cr and PAT rose 170.5% to ₹176.93 Cr.

• Consolidated Q1 FY27 revenue was ₹1,594.22 Cr and net profit ₹176.77 Cr, versus ₹1,291.23 Cr and ₹65.02 Cr in Q1 FY26.

• EBITDA margin expanded to 17.01% from 9.83%, supported by Maize Processing margin recovery and recently commissioned capacity.

Financial highlights

• Standalone revenue from operations was ₹1,594.27 Cr, up 23.5% YoY and 8.7% QoQ; total income was ₹1,633.40 Cr.

• Standalone EBITDA was ₹271.13 Cr, up 113.7% YoY and 23.1% QoQ; margin was 17.01%, up 718 bps YoY and 199 bps QoQ.

• Standalone PAT was ₹176.93 Cr, up 170.5% YoY and 30.6% QoQ; PAT margin was 11.10%, up 604 bps YoY.

• Consolidated total income was ₹1,633.35 Cr and PBT ₹235.28 Cr; total expenses were ₹1,398.07 Cr and finance cost ₹2.46 Cr.

• Standalone PBT was ₹235.44 Cr, up 173.6% YoY; EPS was ₹3.86 versus ₹1.43. Finance costs declined 54.9% to ₹2.45 Cr.

Outlook and guidance

• Targeting aggregate fermentation capacity of 1,20,000 TPA by 2028, from 30,000 TPA commissioned at Hubli.

• A 900 TPD greenfield Corn Wet Milling plant at Himmatnagar is targeted for FY27; commissioning would raise maize processing capacity to 6,500 TPD from 5,600 TPD.

• Hubli Sodium Gluconate and expanded Maltodextrin capacity are ramping up; the enlarged 1,950 TPD Sitarganj unit is progressing toward higher utilisation.

• Further Dextrose and Sorbitol expansion is under process; planned renewable additions include biogas from 8 MW to 10 MW and solar from 10 MW to 12 MW.

• Management cautioned that one quarter does not establish a trend and that the business is seasonal.