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 rebounded to Rs 107.2 cr from a Q4FY26 loss of Rs 988.08 cr, but other income contributed 172.68% of pre-tax profit.
- Revenue rose +3.14% QoQ while expenses fell -44.32%, lifting operating margin by 84.02 percentage points to 1.42%.
- The quarter was filed after market close, with interest down -20.00% QoQ but depreciation up +2,507.27%.
Profit rebound rests heavily on non-operating income
Jindal Poly Films reported consolidated net profit of Rs 107.2 cr in Q1FY27 after a Rs 988.08 cr loss in Q4FY26. Operating profit was only Rs 9.89 cr, while other income of Rs 150.09 cr accounted for 172.68% of pre-tax profit of Rs 86.92 cr. The negative tax rate of -0.69% also supported reported profit, with tax shown as a credit of Rs 0.6 cr.
Lower expenses drove the sequential margin recovery
Revenue increased +3.14% QoQ, but expenses declined -44.32%, so operating margin recovered by 84.02 percentage points from -82.60% in Q4FY26 to 1.42%. Interest expense fell -20.00% to Rs 30.04 cr. Depreciation rose +2,507.27% QoQ to Rs 43.02 cr, partly offsetting the benefit from lower expenses.
A sharp sequential rebound, but no longer-term margin trend yet
Against Q4FY26, the quarter marks a substantial recovery in revenue, operating profit and net profit, with revenue at Rs 695.8 cr versus Rs 674.63 cr previously. The available quarter sequence shows a rebound from one loss-making quarter rather than a confirmed multi-quarter improvement in operating margin. The results were filed after market close, so there is no market reaction to assess yet.
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 moves above 1.42% after the 84.02-percentage-point QoQ recovery.
- Whether other income's 172.68% share of pre-tax profit declines in the next quarter.
- Whether depreciation moderates from Rs 43.02 cr after its +2,507.27% QoQ increase.