Indo Count Industries (521016) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 was the first full quarter following the temporary U.S. tariff phase; lower offtake and retailer inventory control weighed on volumes, while consolidated revenue from operations rose YoY.

• Consolidated PAT fell to ₹3,779.49 lakh from ₹7,779.76 lakh YoY amid lower volumes, product-mix effects and new-business incubation costs.

• Near-term trade uncertainty remains a headwind; new businesses, brand expansion and geographic diversification are positioned as longer-term growth drivers.

Financial highlights

• Consolidated revenue from operations was ₹95,870.60 lakh versus ₹94,142.84 lakh; total income was ₹96,731.91 lakh.

• EBITDA was ₹119 crore, down 22.8% YoY and up 35.0% QoQ; margin was 12.26% versus 16.17% YoY and 8.55% QoQ.

• Consolidated PBT was ₹4,931.28 lakh versus ₹10,761.24 lakh YoY; total expenses were ₹91,800.63 lakh versus ₹84,235.36 lakh.

• Consolidated PAT was ₹3,779.49 lakh versus ₹7,779.76 lakh; EPS was ₹1.91 versus ₹3.93 YoY.

• Standalone revenue was ₹73,326.67 lakh versus ₹90,633.17 lakh YoY; standalone PAT was ₹4,028.08 lakh versus ₹7,906.73 lakh.

Outlook and guidance

• Sales volumes and margins are expected to remain subdued until the implications of the U.S. tariff situation stabilize.

• Reaffirmed ambition to double revenue by CY28, with brands and value-added segments contributing ~$275 million.

• USA brand business has $100 million revenue potential over the next 3 years; the U.S. utility bedding facility supports an aggregate revenue ambition of ~$175 million for that business.

• Greenfield utility bedding Phase 1 in North Carolina is scheduled for completion by September 2025.