Other income exceeded PBT as SIYSIL reported a 4.05% operating margin
The consolidated quarter delivered Rs 11.01 cr of net profit, while management highlighted volume-led growth and a renewable-energy target.
Filed 30 Jul 2026, 22:07 IST · after market close · SIYSIL (SIYSIL)
Key takeaways
- Consolidated operating margin was 4.05%, leaving operating profit at Rs 18.06 cr on revenue of Rs 445.66 cr.
- Other income of Rs 21.68 cr exceeded profit before tax of Rs 14.40 cr, making reported profit quality a key caveat.
- Management said it has set a target for renewable energy to supply 15% of electricity consumption by 2030.
A low-margin consolidated quarter
SIYSIL's consolidated operating profit was Rs 18.06 cr, equivalent to a 4.05% operating margin on Rs 445.66 cr of revenue. Net profit was Rs 11.01 cr, but the operating result left limited room after interest and depreciation. There is no quarterly or year-on-year comparison in this release to establish momentum.
Other income drove the profit bridge
Interest of Rs 7.33 cr and depreciation of Rs 18.02 cr together more than offset operating profit before other income was considered. Other income of Rs 21.68 cr therefore exceeded the Rs 14.40 cr profit before tax, which qualifies the quality of the reported earnings. The tax rate was 23.52%.
Management points to volume growth and expansion
The presentation said volume-driven revenue growth and efficient execution helped maintain profitability in a competitive environment. Management said investment per ZECODE and DEVO store is Rs 1 cr to Rs 1.5 cr. It also reported 6,792 kWp of installed solar capacity across manufacturing facilities and said the company is expanding renewable-energy use and energy-efficiency measures.
Results were filed after market close
The results were filed after market close on 30 Jul 2026. The market response is therefore not assessed in this update.
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 | ₹446 cr |
| Other income | ₹22 cr |
| Expenses | ₹428 cr |
| Operating profit | ₹18 cr |
| Operating margin (%) | 4.05% |
| Interest | ₹7 cr |
| Depreciation | ₹18 cr |
| Profit before tax | ₹14 cr |
| Tax | ₹3 cr |
| Net profit | ₹11 cr |
| EPS (₹) | ₹2.43 |
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 15% of electricity consumption from renewable energy by 2030.
Expansion
- The company has 6,792 kWp of installed solar capacity across its manufacturing facilities.
- Investment per ZECODE store is Rs. 1 crore to Rs. 1.5 crore.
- Investment per DEVO store is Rs. 1 crore to Rs. 1.5 crore.
New initiatives
- The company is expanding renewable energy use and implementing energy-efficient practices to reduce its carbon footprint.
- Infrastructure upgrades include LED lighting and high-efficiency motors to reduce energy consumption.
Competition
- The company says volume-driven revenue growth and efficient execution maintained profitability in a competitive environment.
What to watch
- Whether consolidated operating margin improves from 4.05%.
- Whether other income remains above profit before tax of Rs 14.40 cr.
- Progress against management's stated target of sourcing 15% of electricity consumption from renewable energy by 2030.