IPL's Q1FY27 profit was led by operations as Hamirpur expansion continues
Operating profit of Rs 35.47 cr exceeded other income of Rs 4.02 cr; management said two more Hamirpur blocks are planned for FY2027.
Filed 01 Aug 2026, 19:41 IST · after market close · IPL (IPL)
Key takeaways
- Consolidated Q1FY27 operating profit was Rs 35.47 cr, with operating margin at 14.09%.
- Operating profit, rather than Rs 4.02 cr of other income, was the main source of consolidated profit before tax of Rs 30.85 cr.
- Management said two additional Hamirpur blocks are planned to become operational in FY2027.
Operating profit led Q1FY27 earnings
IPL's consolidated Q1FY27 earnings were led by operations: Rs 35.47 cr of operating profit compared with Rs 4.02 cr of other income. After interest of Rs 2.77 cr, depreciation of Rs 5.87 cr and tax of Rs 8.08 cr, net profit was Rs 22.77 cr.
The margin read-through is limited to the quarter's cost base
Expenses of Rs 216.29 cr absorbed most of the Rs 251.76 cr revenue, leaving a 14.09% operating margin. The 26.19% tax rate is the other key filter between profit before tax of Rs 30.85 cr and net profit of Rs 22.77 cr.
Hamirpur capacity remains the main operating development
Management said two Hamirpur blocks are already operational for insecticides and herbicides, while the remaining blocks are under development. The company said two additional blocks are planned to become operational in FY2027 and linked its expansion approach with backward integration, process improvement and in-house R&D.
Results were filed after market close
IPL filed the consolidated results after market close on 1 August 2026. The immediate stock-market response was therefore not yet part of the results read-through.
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 | ₹252 cr |
| Other income | ₹4 cr |
| Expenses | ₹216 cr |
| Operating profit | ₹35 cr |
| Operating margin (%) | 14.09% |
| Interest | ₹3 cr |
| Depreciation | ₹6 cr |
| Profit before tax | ₹31 cr |
| Tax | ₹8 cr |
| Net profit | ₹23 cr |
| EPS (₹) | ₹1.98 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
Expansion
- Two additional Hamirpur blocks are planned to become operational in FY2027.
- The Hamirpur facility has two operational blocks for insecticides and herbicides, with the remaining blocks under development.
- The remaining Hamirpur blocks are under ongoing development.
New initiatives
- The company operates in-house R&D laboratories focused on process innovation, cost optimisation and new molecule development.
- The company is focusing on backward integration and process improvement to enhance efficiency and reduce external supplier dependence.
- The company has developed cost-effective and environment-friendly manufacturing processes.
- The company continues to invest in innovation, process efficiency and new product development.
Competition
- The company ranks among the top three global producers of certain technicals for agrochemical formulators.
What to watch
- Whether consolidated operating margin holds at 14.09%.
- Progress toward the two additional Hamirpur blocks planned for FY2027.
- The next reported consolidated tax rate versus 26.19%.