MOL's Q1 operating margin was 18.04%; profit reached Rs 48.19 cr
Other income of Rs 11.92 cr supplemented operating earnings, while management outlined a 14%-15% blended EBITDA margin target.
Filed 29 Jul 2026, 13:19 IST · MOL (MOL)
Key takeaways
- MOL's consolidated Q1FY27 operating profit of Rs 97.91 cr produced an 18.04% margin, while net profit was Rs 48.19 cr.
- Profit before tax of Rs 66.98 cr included Rs 11.92 cr of other income, making earnings partly non-operating.
- Management said its capex programme is aimed at growth and EBITDA improvement, with a blended EBITDA margin target of approximately 14%-15%.
Q1 operating profit translated into an 18.04% margin
MOL reported consolidated revenue of Rs 542.83 cr and operating profit of Rs 97.91 cr in Q1FY27, resulting in an 18.04% operating margin. Net profit of Rs 48.19 cr came after Rs 13.05 cr of interest and Rs 29.80 cr of depreciation, leaving profit before tax at Rs 66.98 cr.
Other income made a visible contribution to pre-tax profit
Other income was Rs 11.92 cr against profit before tax of Rs 66.98 cr, so earnings were not solely operating-led. The reported tax rate was 28.05%, with no comparison in this quarter's release to assess whether taxation helped or hurt the profit outcome.
Capex, Nano Urea and TiO2 shape the business narrative
Management said its capex programme is intended to support future growth and improve EBITDA, with a blended EBITDA margin target of approximately 14%-15%. The presentation says the Sanand plant has installed capacity for 5 crore 500 ml Nano Urea bottles annually. It also flags that about 79% of Titanium Dioxide is imported into India and describes the proposed project as capital intensive, with specialised sulphate-process know-how a challenge for new entrants.
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 | ₹543 cr |
| Other income | ₹12 cr |
| Expenses | ₹445 cr |
| Operating profit | ₹98 cr |
| Operating margin (%) | 18.04% |
| Interest | ₹13 cr |
| Depreciation | ₹30 cr |
| Profit before tax | ₹67 cr |
| Tax | ₹19 cr |
| Net profit | ₹48 cr |
| EPS (₹) | ₹1.90 |
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 targets future growth and EBITDA improvement with a blended EBITDA margin of approximately 14–15%.
Expansion
- The Sanand plant has installed capacity to produce 5 crore 500 ml Nano Urea bottles annually.
New products
- The MPP recently introduced Flubendamide, Cyfluthrin, Beta Cyfluthrin, Spiromesifen, Pymetrozine, Lambdacyhalothrin and Ethiprole.
- The company developed Nano Urea as a liquid nitrogen nutrient intended to replace conventional urea.
Competition
- The MPP gives the company first-mover advantage while competing with multinational companies.
Problems & risks
- Approximately 79% of Titanium Dioxide is currently imported into India.
- The Titanium Dioxide project is capital intensive.
- The company identifies specialized technical know-how for the sulphate process as a challenge for new entrants.
What to watch
- Whether consolidated operating margin remains at 18.04% in the next reported quarter.
- Progress toward management's approximately 14%-15% blended EBITDA margin target.
- The commercial ramp-up of Sanand's installed capacity for 5 crore 500 ml Nano Urea bottles annually.