Dharmaj starts FY27 with Rs 38.11 cr profit as exports target scale-up
The consolidated operating margin was 15.01%, while management highlighted export expansion and a 21-member addition to the sales team.
Filed 07 Aug 2026, 17:11 IST · after market close · DHARMAJ (DHARMAJ)
Key takeaways
- Dharmaj reported consolidated net profit of Rs 38.11 cr in Q1FY27, with EPS of Rs 11.28.
- Operating margin was 15.01%, with operating profit of Rs 57.40 cr on revenue of Rs 382.38 cr.
- Management said the Exports vertical is expected to build scale through FY27, alongside the addition of 21 sales-team members.
Q1FY27 profit conversion
Dharmaj reported consolidated net profit of Rs 38.11 cr from revenue of Rs 382.38 cr. Operating profit of Rs 57.40 cr converted into profit before tax of Rs 50.99 cr after Rs 2.68 cr of interest and Rs 4.86 cr of depreciation. The results were filed after market close on 07 Aug 2026.
Operating-led earnings, with tax still material
The 15.01% operating margin reflects the business contribution before interest, depreciation and tax. Other income was Rs 1.13 cr, so reported profit was primarily supported by operations rather than non-operating income. Tax of Rs 12.88 cr was charged at a reported rate of 25.27%.
Exports and sales expansion are the stated priorities
Management said the Exports vertical should continue building scale as FY27 progresses. The company also said it added 21 members to its Sales Team for on-ground marketing and B2B activity. These initiatives provide the operating context for tracking revenue beyond the Q1FY27 base of Rs 382.38 cr.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹382 cr |
| Other income | ₹1 cr |
| Expenses | ₹325 cr |
| Operating profit | ₹57 cr |
| Operating margin (%) | 15.01% |
| Interest | ₹3 cr |
| Depreciation | ₹5 cr |
| Profit before tax | ₹51 cr |
| Tax | ₹13 cr |
| Net profit | ₹38 cr |
| EPS (₹) | ₹11.28 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Guidance & outlook
- The company expects its Exports vertical to continue building scale as FY27 progresses.
New initiatives
- The company added 21 members to its Sales Team for on-ground marketing and B2B activities.
What to watch
- Whether operating margin remains around 15.01% in the next reported quarter.
- Whether management reports further scale-up in the Exports vertical from the Rs 382.38 cr Q1FY27 revenue base.
- Whether the 21-member Sales Team addition produces visible progress in on-ground marketing and B2B activity.