Jindal Poly Films returns to profit, but other income drives Q1
Operating margin recovered 84.02 percentage points QoQ as expenses fell -44.32%, while other income was 172.68% of pre-tax profit.
Filed 15 Aug 2026, 01:26 IST · after market close · JINDALPOLY (JINDALPOLY)
Key takeaways
- Consolidated net profit swung to Rs 107.2 cr from a Rs 988.08 cr loss in Q4FY26.
- Operating margin improved 84.02 percentage points sequentially as expenses fell 44.32% while revenue rose 3.14%.
- Other income of Rs 150.09 cr equalled 172.68% of profit before tax, making reported profit heavily dependent on non-operating income.
Operating profit returned to positive territory
Jindal Poly Films reported consolidated revenue growth of 3.14% sequentially, while expenses fell 44.32%. That combination moved operating profit from a loss of Rs 557.25 cr in Q4FY26 to Rs 9.89 cr, lifting operating margin by 84.02 percentage points to 1.42%.
Non-operating income shaped reported profit
Other income of Rs 150.09 cr was equivalent to 172.68% of profit before tax, which was Rs 86.92 cr. Interest expense fell 20.00% sequentially, but the main quality issue is that profit before tax exceeded operating profit because of other income. The tax rate also fell 27.82 percentage points to -0.69%, providing an additional lift to net profit.
The quarter reversed the sharp Q4FY26 loss
The sequential comparison shows a reversal from a Rs 1,356.41 cr loss before tax to a Rs 86.92 cr profit before tax. Depreciation rose to Rs 43.02 cr from Rs 1.65 cr, so the operating recovery did not translate into profit without the contribution from other income.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 | Q4FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹696 cr | ₹675 cr | +3.14% |
| Other income | ₹150 cr | ₹-760 cr | — |
| Expenses | ₹686 cr | ₹1,232 cr | -44.32% |
| Operating profit | ₹10 cr | ₹-557 cr | — |
| Operating margin (%) | 1.42% | -82.60% | — |
| Interest | ₹30 cr | ₹38 cr | -20.00% |
| Depreciation | ₹43 cr | ₹2 cr | +2507.27% |
| Profit before tax | ₹87 cr | ₹-1,356 cr | — |
| Tax | ₹-1 cr | ₹-368 cr | +99.84% |
| Net profit | ₹107 cr | ₹-988 cr | — |
| EPS (₹) | ₹24.48 | ₹-225.66 | — |
What to watch
- Whether operating margin holds above 1.42%.
- Whether other income remains below its 172.68% share of profit before tax.
- Whether interest expense stays below Rs 30.04 cr.