RattanIndia Power's 8% margin trails seven Utilities peers
Interest exceeded operating profit, while other income and a zero tax rate supported reported profit; the stock rose 1.87% on the results date.
Filed 24 Jul 2026, 14:44 IST · RattanIndia Power Ltd (RTNPOWER)
Key takeaways
- Consolidated Q1FY27 operating margin was 15.65%, 15.94 percentage points below the 31.59% median for 22 reporting utility peers.
- Other income of Rs 67.88 cr exceeded pre-tax profit of Rs 45.85 cr, while a 0.0% tax rate left net profit equal to pre-tax profit.
- The stock gained +1.05% on the result day and +1.99% by the fifth session, but was -0.16% versus the benchmark over five sessions.
Price around the results
Q1FY27 margin remains well below utility peers
RattanIndia Power reported consolidated revenue of Rs 798.55 cr and operating profit of Rs 124.97 cr in Q1FY27, resulting in a 15.65% operating margin. That was 15.94 percentage points below the 31.59% median among 22 utility peers that had reported the quarter, placing the company sixth from the bottom.
Other income was larger than reported pre-tax profit
Expenses were Rs 673.58 cr, while interest and depreciation were Rs 85.93 cr and Rs 61.07 cr respectively, reducing the conversion of operating profit into pre-tax earnings. Other income of Rs 67.88 cr was larger than the Rs 45.85 cr pre-tax profit, so reported earnings were not driven by operations alone. With tax at 0.0%, net profit was also Rs 45.85 cr and EPS was Rs 0.09.
Shares rose after the filing but lagged the benchmark by day five
The stock gained +1.05% on the result day and was up +1.99% after five sessions, with result-day volume at 2.38 times the reference level. Its five-session performance was -0.16% relative to the benchmark, compared with +1.48% on the result day.
Q1FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹799 cr |
| Other income | ₹68 cr |
| Expenses | ₹674 cr |
| Operating profit | ₹125 cr |
| Operating margin (%) | 15.65% |
| Interest | ₹86 cr |
| Depreciation | ₹61 cr |
| Profit before tax | ₹46 cr |
| Tax | ₹0 cr |
| Net profit | ₹46 cr |
| EPS (₹) | ₹0.09 |
Operating margin of 15.65% compares with a Utilities sector median of 31.59% across 22 peers that have reported Q1FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | +1.05% | +1.48% |
| Next session | +1.05% | — |
| 5 sessions | +1.99% | -0.16% |
Volume on the results session was 2.38× its 20-day average.
What to watch
- Whether operating margin moves up from 15.65%.
- Whether other income remains above Rs 45.85 cr of pre-tax profit.
- Whether the tax rate remains at 0.0%.