KRBL Limited (KRBL) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 revenue from operations was ₹1,496 crore, down 6% YoY; EBITDA rose 65% to ₹372 crore and PAT rose 73% to ₹261 crore, the strongest quarterly profitability reported.

• Domestic revenue excluding power grew 14% YoY, while export revenue fell 50% as Middle East shipping disruptions constrained shipments.

• Higher realizations, improved sales mix and other income supported margin expansion, partly offset by higher COGS and employment costs.

Financial highlights

• Consolidated total income was ₹1,560 crore, down 3% YoY; revenue from operations was ₹149,586 lakh versus ₹158,435 lakh in Q1 FY26 and ₹152,550 lakh in Q4 FY26.

• EBITDA was ₹372 crore, with a 23.8% margin versus 13.9%; gross profit rose 36% YoY to ₹566 crore.

• PAT was ₹261 crore, or ₹26,074 lakh, versus ₹15,058 lakh in Q1 FY26; PAT margin was 16.7% versus 9.3%.

• Gross margin was 36.3% versus 25.7%; excluding other income, it was 33.51% versus 24.15%.

• Other income rose to ₹64 crore from ₹32 crore, including ₹18 crore higher investment gains, ₹9.5 crore Forex gain and ₹4.4 crore higher interest income.

Outlook and guidance

• FY27 domestic volume growth guidance is ~10%, also targeted for the next 2–3 years; EBITDA margin outlook is 17%–18% and gross margin ~30%, with Q1 levels not considered sustainable.

• Meaningful export growth remains the FY27 outlook; shipments are expected to improve progressively from Q2 as routes stabilize, with some bulk business resuming.

• Branded regional rice is targeted to grow 25% from FY26 revenue of ₹270 crore; Q1 growth was 25% and on track.

• Masala portfolio target is a ₹25 crore annualized revenue run rate by FY27-end, versus ~₹9 crore at Q1-end.

• Priorities include deeper distribution, brand investment, supply-chain remodelling and new products; export plans include direct marketing, HORECA expansion, new markets and economy packs.