Indo Count Industries LimitedQ1 FY27 Results & Financial Update
Indo Count Industries Limited: Q1 FY27 consolidated results and company financials – revenue ₹1,206.96 Cr, PAT ₹63.22 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Quarterly Results AnalysisExplore Indo Count Industries Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Indo Count Industries Limited reported an all-time high consolidated quarterly revenue of Rs. 1,224 crores for the quarter ended June 30, 2026, driven by steady order flows and sustained contributions from its expanding new businesses.
Sales volume for Q1 FY27 reached 23 million meters, reflecting a sequential expansion of approximately 12 percent compared to the preceding quarter as United States tariff uncertainties eased and order momentum recovered.
Profitability improved across key operational metrics during the quarter, with profit before tax climbing to Rs. 83.51 crores and profit after tax reaching Rs. 63.22 crores, supported by enhanced operating leverage and scaling operations.
EBITDA margin recovered sequentially to approximately 13.1 percent, benefiting from stronger volume throughput in the core manufacturing segment and increased scale efficiencies within newly integrated overseas subsidiaries.
New businesses contributed approximately one-third of total quarterly revenue, nearly tripling their contribution compared to the corresponding period of the previous year and underpinning the company's broader growth trajectory.
Operations at the company's US utility bedding facilities sustained stable utilization levels between 60 percent and 65 percent despite ongoing ramp-up phases across newly expanded manufacturing capacities.
Subsequent to the close of the quarter on July 23, 2026, operations at the Bhilad manufacturing facility in Gujarat experienced temporary disruptions due to unprecedented rainfall and flooding, though factory assets and materials remain adequately insured while loss assessments proceed.
Indo Count Industries reported a strong start to fiscal year 2027, achieving an all-time high consolidated quarterly total income of Rs. 1,224.01 crores for the quarter ended June 30, 2026. Consolidated revenue from operations reached Rs. 1,206.96 crores, supported by steady sales volume of 23 million meters and an improving demand environment.
01 · Business model
What does Indo Count Industries do?
Indo Count Industries Limited is a prominent global home textile manufacturer and exporter headquartered in India, specializing in bed linen, bed sheets, utility bedding, and related home furnishing products. The company ranks among the top three global manufacturers of bed linen in the United States and serves international markets through an established distribution and subsidiary network.
The company operates state-of-the-art manufacturing facilities located in Maharashtra and Gujarat, backed by an aggregate annual production capacity of 153 million meters. Its product portfolio spans core bed linen as well as value-added categories including fashion, institutional, and utility bedding.
The business model integrates sustainable manufacturing, energy efficiency, and responsible cotton sourcing. The company holds legacy and licensed brands such as Wamsutta to reinforce its market positioning across high-end retail and institutional segments.
02 · Historical context
What shaped the business before this quarter
During Q2 FY25 (September 2024), wholly owned subsidiary Indo Count Global Inc. acquired an 81% controlling stake in Ohio-based utility bedding manufacturer Fluvitex USA Inc. for US$ 19.63 million, with a fixed-consideration option to acquire the remaining 19% by September 2029.
During Q3 FY25 (October 2024), Indo Count Global Inc. acquired a 100% controlling stake in Arizona-based Modern Home Textile Inc. for an all-cash consideration of US$ 11.89 million, further expanding the group's U.S. manufacturing footprint.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹1,206.96 Cr |
| Total income | ₹1,224.01 Cr |
| Profit before tax | ₹83.51 Cr |
| Profit after tax | ₹63.22 Cr |
| EPS | ₹3.19 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Easing of US tariff uncertainty supported a recovery in demand and order flow, enabling a sequential volume increase of approximately 12 percent.
Sales volume for the quarter stood at 23 million meters, with year-ago volume throughput constrained by container availability factors.
Total income reached a record Rs. 1,224.01 crores in Q1 FY27, backed by 23 million meters of sales volume. New businesses contributed one-third of total revenue, nearly tripling their revenue contribution compared to the prior year.
The easing of U.S. tariff uncertainty supported order flow recovery and steady demand conditions, allowing utility bedding facilities in the U.S. to operate at 60% to 65% utilization despite new facility ramp-up phases.
What drove margins
EBITDA margin recovered by 241 basis points sequentially to ~13.1% as operating leverage improved with the scale-up of new businesses and stronger core volumes.
Shifts in product mix within the core textile business impacted overall product realizations during the quarter.
Employee benefits expense increased sequentially, primarily attributable to the commencement of operations at greenfield facilities and scale-up across manufacturing locations.
Consolidated EBITDA margin recovered to ~13.1% (Rs. 160 crores), expanding 241 basis points sequentially from 10.7% in Q4 FY26. Management attributed this improvement to operating leverage from scaling new businesses and solid volume growth in the core segment.
Employee benefits expense rose to Rs. 169.58 crores for Q1 FY27 compared to Rs. 142.89 crores in Q4 FY26 and Rs. 117.01 crores in Q1 FY25, primarily reflecting the commencement of operations at the new greenfield facility and wider operational scale-up.
05 · Demand, customers & order book
Where demand is coming from
Order flow showed steady recovery supported by favorable trade conditions and stabilization in the US market.
Order intake remained steady following the easing of U.S. tariff uncertainty. However, company commentary noted that container availability had an impact on volume throughput during the quarter.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The group operates primarily in the manufacture of textile products, evaluated by the Chief Operating Decision Maker as a single reportable segment (Textile Business) under Ind AS 108.
Geography and market mix
The company maintains a dominant export presence in the United States, reinforced by U.S.-based utility bedding manufacturing facilities in Ohio and Arizona, and distribution partnerships spanning licensed and heritage brands.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
Total annual manufacturing capacity stands at 153 million meters across facilities in Maharashtra and Gujarat. U.S. utility bedding facilities achieved 60% to 65% capacity utilisation during Q1 FY27 despite ongoing new facility ramp-ups.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Management continued executing its Indo Count 2.0 strategy focused on expanding value-added businesses, strengthening global presence, and scaling new revenue streams.
The company is executing its Indo Count 2.0 strategy focused on strengthening global presence, expanding value-added businesses, and scaling new revenue streams (such as Wamsutta and licensed brands) to double revenue by FY2028 over the FY2025 base.
09 · Reported developments
What changed operationally
Achieved all-time high consolidated quarterly revenue of Rs. 1,224 crores for Q1 FY27.
Received three awards during the CITI Textile Sustainability Awards 2026 for energy-efficient manufacturing, ESG integration, and responsible cotton sourcing.
Achieved all-time high consolidated quarterly total income of Rs. 1,224.01 crores and operational revenue of Rs. 1,206.96 crores in Q1 FY27.
Received three awards during the CITI Textile Sustainability Awards 2026 for initiatives in energy-efficient textile manufacturing, innovation-led ESG integration, and responsible cotton sourcing, alongside an S&P Global ESG score of 78 for 2025.
10 · Management guidance & targets
What management is targeting from here
Management reaffirmed its guidance for FY27, targeting revenue of approximately Rs. 5,500 crores (implying ~30%+ annual growth), sales volume of 105-110 million meters, and an EBITDA margin of around 13 percent.
The company remains on track to double its revenue by FY2028 over the FY2025 base.
Management reaffirmed its target to achieve ~30%+ revenue growth in FY27 to reach approximately Rs. 5,500 crores in total income, accompanied by an EBITDA margin of ~13% and total volume between 105 to 110 million meters.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Managerial Remuneration Approval
The company noted that managerial remuneration aggregating Rs. 296.43 lakhs paid/provided during FY26 required specific approvals under Section 197 read with Schedule V of the Companies Act, and proposes to seek shareholder approval via a special resolution at the ensuing Annual General Meeting.
Reported update
GST Legal and Tax Matters
Finance cost for prior periods included interest of Rs. 12.82 crores paid on delayed refund of IGST to Maharashtra State GST authorities following a search and inspection in March 2026.
12 · Previous-quarter changes
What changed since the previous quarter
Sales volume increased by ~12 percent over Q4 FY26, driven by easing US tariff uncertainties.
Sales volume increased by ~12% sequentially over Q4 FY26, while EBITDA margin rebounded by 241 basis points from 10.7% to 13.1% driven by operating leverage and improved new business contribution.
13 · Key Q&A
The quarter, answered directly
What does Indo Count Industries do?
Indo Count Industries Limited is a prominent global home textile manufacturer and exporter headquartered in India, specializing in bed linen, bed sheets, utility bedding, and related home furnishing products. The company ranks among the top three global manufacturers of bed linen in the United States and serves international markets through an established distribution and subsidiary network.
What is the clearest takeaway from Q1 FY27?
Indo Count Industries Limited reported an all-time high consolidated quarterly revenue of Rs. 1,224 crores for the quarter ended June 30, 2026, driven by steady order flows and sustained contributions from its expanding new businesses.
What drove revenue or demand?
Easing of US tariff uncertainty supported a recovery in demand and order flow, enabling a sequential volume increase of approximately 12 percent.
What mattered most for margins or profitability?
EBITDA margin recovered by 241 basis points sequentially to ~13.1% as operating leverage improved with the scale-up of new businesses and stronger core volumes.
What changed operationally beyond the headline numbers?
Total annual manufacturing capacity stands at 153 million meters across facilities in Maharashtra and Gujarat. U.S. utility bedding facilities achieved 60% to 65% capacity utilisation during Q1 FY27 despite ongoing new facility ramp-ups.
What is management guiding or targeting from here?
Management reaffirmed its guidance for FY27, targeting revenue of approximately Rs. 5,500 crores (implying ~30%+ annual growth), sales volume of 105-110 million meters, and an EBITDA margin of around 13 percent.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Bhilad Insurance Assessment: Progress on the surveyor's assessment of flood damages at the Bhilad manufacturing facility and subsequent insurance claim finalization.
- 02
FY27 Guidance Tracking: Quarterly progress toward the full-year target of ~Rs. 5,500 crores in revenue and ~13% EBITDA margin.
- 03
Bhilad Facility Insurance Assessment: Monitor the completion of surveyor assessments and insurance claim filings regarding the temporary operational disruption at the Bhilad, Gujarat facility caused by July 2026 flooding.
- 04
New Business Scale-Up: Observe the continued revenue contribution of new businesses, which reached 1/3rd of total revenue in Q1 FY27.
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