The Indian Card Clothing Company LimitedQ1 FY27 Results & Financial Update
The Indian Card Clothing Company Limited: Q1 FY27 consolidated results and company financials – revenue ₹19.84 Cr, PAT ₹4.56 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 The Indian Card Clothing Company 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
The Indian Card Clothing Company Limited reported consolidated total income of INR 19.84 crore for the quarter ended June 30, 2026, supported by robust real estate segment performance despite ongoing headwinds in the core textile machinery sector.
Consolidated profit before tax (PBT) reached INR 5.63 crore for Q1 FY27, turning around from a pre-tax loss of INR 3.85 crore in the preceding quarter ended March 31, 2026, and improving from INR 2.87 crore in the corresponding quarter of the previous year.
Consolidated net profit (PAT) for the quarter stood at INR 4.56 crore, yielding a basic and diluted earnings per share (EPS) of INR 7.68, compared to an EPS of INR 3.86 in Q1 FY25 and negative earnings in Q4 FY26.
The card clothing manufacturing business continued to encounter structural headwinds, with segment results posting a loss before tax and interest of INR 3.12 crore, as global geopolitical disturbances and macroeconomic slowdowns constrained demand across the Indian textile industry.
Conversely, the realty segment delivered a strong operational performance during the quarter, generating segment revenue of INR 9.91 crore and a segment result of INR 9.11 crore before unallocable expenses and taxes.
Total consolidated expenses for the quarter were contained at INR 14.21 crore, reflecting disciplined cost management across employee benefits expense of INR 5.00 crore and other expenses of INR 5.17 crore.
Management noted that while the textile carding business remains impacted by sluggish industry conditions, it anticipates a potential recovery in the Indian textile sector by the end of fiscal year 2026-27.
Concurrent with the financial disclosures, the company announced that Mr. Sanjeevkumar Karkamkar will step down as Executive Director and CFO effective September 1, 2026, due to advancing age, transitioning to a Non-Executive Non-Independent Director role.
01 · Business model
What does The Indian Card Clothing Company do?
The Indian Card Clothing Company Limited is an established manufacturer and supplier of card clothing products and provider of carding solutions to the textile industry, operating alongside secondary real estate interests.
The company's core card clothing segment serves global textile spinning mills by manufacturing metallic card clothing wire and providing technical maintenance solutions necessary for fiber preparation.
Beyond its traditional manufacturing operations, the group maintains a significant real estate leasing and development footprint, specifically holding commercial assets such as the Amar Business Zone.
Geographically, the group operates through its domestic parent entity in India and international subsidiaries including Garnett Wire Limited in the United Kingdom and ICC International Agencies Limited, serving overseas textile markets.
02 · Historical context
What shaped the business before this quarter
Previously, in February 2026, the company's Board approved the sale of its commercial property situated at Amar Business Zone, which was subsequently concluded in July 2026 for a total consideration of INR 13.20 crore.
During preceding financial periods, the group absorbed incremental financial impacts stemming from the consolidation of labor legislations under the New Labour Codes enacted by the Government of India in November 2025.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹19.84 Cr |
| Total income | ₹19.84 Cr |
| Profit before tax | ₹5.63 Cr |
| Profit after tax | ₹4.56 Cr |
| EPS | ₹7.68 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Realty segment revenue surged to INR 9.91 crore in Q1 FY27 from INR 1.69 crore in Q4 FY26 and INR 7.06 crore in Q1 FY25, serving as the primary top-line growth driver for the consolidated entity.
Card clothing segment revenue came in at INR 9.92 crore for the quarter, compared to INR 11.77 crore in Q4 FY26 and INR 9.75 crore in Q1 FY25, reflecting subdued demand from domestic and international spinning mills.
Consolidated operational revenue of INR 19.8357 crore was distributed across card clothing operations and realty segment activities, alongside significant other income items.
What drove margins
Consolidated margins were bolstered by the high-margin realty segment contribution, which posted a segment result of INR 9.11 crore, offsetting operating losses of INR 3.12 crore in the card clothing manufacturing division.
Total expenses for the quarter decreased sequentially to INR 14.21 crore from INR 16.55 crore in Q4 FY26, driven by lower consumption of traded goods and reduced other expenses.
Card clothing segment results remained in a loss position at INR (3.1225) crore before tax and interest due to industry headwinds, while the realty segment recorded positive segment results of INR 9.1101 crore.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Posted revenue of INR 9.92 crore with a segment loss before interest and tax of INR 3.12 crore, continuing to suffer from protracted headwinds in the textile machinery market.
Recorded revenue of INR 9.91 crore and a segment profit before interest and tax of INR 9.11 crore, reflecting monetization and leasing activities within commercial real estate assets.
Generated revenue of INR 9.9237 crore with a segment loss of INR 3.1225 crore, reflecting continued soft demand from the textile machinery and spinning sector.
Contributed revenue of INR 9.9120 crore with strong segment results of INR 9.1101 crore, providing the primary earnings driver for the consolidated entity during Q1 FY27.
Geography and market mix
Wholly-owned subsidiary Garnett Wire Limited in the UK continued its specialized metallic card clothing manufacturing and sales activities, recording a turnover of GBP 826,760 for the year ended March 31, 2026.
06 · Strategy & new businesses
How the company is trying to change its growth mix
The board approved a further cash investment of up to GBP 250,000 in its UK-based wholly-owned subsidiary, Garnett Wire Limited, via subscription to ordinary shares to expand foreign product distribution.
07 · Reported developments
What changed operationally
Consolidated profit before tax improved to INR 5.63 crore in Q1 FY27, rebounding from pre-tax losses in the preceding quarter.
The company completed the sale of its commercial property at Amar Business Zone for a total consideration of INR 13.20 crore, finalized in July 2026.
The consolidated entity returned to profitability in Q1 FY27 with a net profit of INR 4.5642 crore compared to a net loss in the preceding quarter.
08 · Pressure points & risks
What is not going smoothly
The core card clothing business continues to record operating losses due to prolonged stagnation and adverse macroeconomic conditions in the global and domestic textile sectors.
Card clothing business continued to suffer from incessant headwinds and soft demand from the domestic and global textile sectors.
09 · Management guidance & targets
What management is targeting from here
Management expects a gradual recovery in the Indian textile industry by the end of fiscal year 2026-27, despite ongoing global geopolitical disturbances and economic slowdowns.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
UK Subsidiary Valuation Compliance
The proposed equity investment of GBP 250,000 into Garnett Wire Limited will be executed at arm's length based on valuation determined by an independent valuer or chartered accountant.
11 · Previous-quarter changes
What changed since the previous quarter
The group transitioned from a consolidated net loss of INR 3.38 crore in Q4 FY26 to a net profit of INR 4.56 crore in Q1 FY27, driven largely by real estate performance.
Transitioned from a consolidated net loss of INR (3.3815) crore in Q4 FY26 to a net profit of INR 4.5642 crore in Q1 FY27.
12 · Key Q&A
The quarter, answered directly
What does The Indian Card Clothing Company do?
The Indian Card Clothing Company Limited is an established manufacturer and supplier of card clothing products and provider of carding solutions to the textile industry, operating alongside secondary real estate interests.
What is the clearest takeaway from Q1 FY27?
The Indian Card Clothing Company Limited reported consolidated total income of INR 19.84 crore for the quarter ended June 30, 2026, supported by robust real estate segment performance despite ongoing headwinds in the core textile machinery sector.
What drove revenue or demand?
Realty segment revenue surged to INR 9.91 crore in Q1 FY27 from INR 1.69 crore in Q4 FY26 and INR 7.06 crore in Q1 FY25, serving as the primary top-line growth driver for the consolidated entity.
What mattered most for margins or profitability?
Consolidated margins were bolstered by the high-margin realty segment contribution, which posted a segment result of INR 9.11 crore, offsetting operating losses of INR 3.12 crore in the card clothing manufacturing division.
What changed operationally beyond the headline numbers?
The board approved a further cash investment of up to GBP 250,000 in its UK-based wholly-owned subsidiary, Garnett Wire Limited, via subscription to ordinary shares to expand foreign product distribution.
What is management guiding or targeting from here?
Management expects a gradual recovery in the Indian textile industry by the end of fiscal year 2026-27, despite ongoing global geopolitical disturbances and economic slowdowns.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Completion of Garnett Wire Investment: Monitor the formal completion of the GBP 250,000 equity subscription in Garnett Wire Limited within the anticipated 60-working-day timeframe.
- 02
CFO Succession: Track the appointment of a successor for the outgoing CFO and Executive Director following Mr. Karkamkar's transition on September 1, 2026.
- 03
Textile Demand Recovery: Observe order intake and capacity utilization trends in the card clothing segment for signs of a projected H2 FY27 textile sector recovery.
- 04
Subsidiary Capital Infusion: Completion of the proposed equity investment of GBP 250,000 in Garnett Wire Limited within approximately 60 working days.
- 05
Textile Sector Recovery: Monitoring demand conditions in the domestic and global textile industry toward anticipated recovery by the end of FY 2026-27.
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