Indo Rama Synthetics (India) LimitedQ1 FY27 Results & Financial Update
Indo Rama Synthetics (India) Limited: Q1 FY27 consolidated results and company financials – revenue ₹936.64 Cr, PAT ₹63.74 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 Rama Synthetics (India) 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
During the quarter ended June 30, 2026 (Q1 FY27), Indo Rama Synthetics reported consolidated revenue from operations of INR 936.64 crore and total consolidated income of INR 940.20 crore.
s, total income contracted sequentially by 22.10% against INR 1,206.93 crore in Q4 FY26 and by 28.15% against INR 1,308.56 crore in Q1 FY26, primarily driven by volume impacts stemming from West Asian geopolitical disruptions affecting shipping and trade flows.
Despite lower top-line turnover, profitability improved significantly on a year-on-year basis. Profit Before Tax (PBT) and Profit After Tax (PAT) both stood at INR 63.74 crore for Q1 FY27, compared to INR 52.75 crore reported in Q1 FY26.
Earnings per share (EPS) for the quarter rose to INR 2.44 on a face value of INR 10 each, compared to INR 2.02 in the corresponding quarter of the previous fiscal year.
Operating profitability showed notable resilience as EBITDA expanded to INR 108.04 crore in Q1 FY27 from INR 100.27 crore in Q1 FY26, supported by improved operational margins, an optimized product mix, and volatile market sentiments.
The company's EBITDA margin strengthened to 11.49% during the quarter under review, up from 7.66% in Q1 FY26 and 10.08% in Q4 FY25, demonstrating effective margin management amidst top-line headwinds.
Indo Rama Synthetics (India) Limited reported consolidated total income of INR 940.20 crore for the quarter ended 30 June 2026, accompanied by revenue from operations of INR 936.64 crore.
Company disclosures in the press release note that total income recorded a decrease of 28.15% over Q1 FY26 and 22.10% over Q4 FY26, primarily driven by volume impacts stemming from West Asian geopolitical issues.
01 · Business model
What does Indo Rama Synthetics (India) do?
Indo Rama Synthetics (India) Limited is one of India's major dedicated polyester manufacturers, operating an integrated manufacturing complex situated at Butibori near Nagpur in Maharashtra.
The company's product portfolio covers a wide range of polyester offerings including Polyester Staple Fibre (PSF), Filament Yarn, Draw Texturized Yarn (DTY), Fully Drawn Yarn (FDY), textile grade chips, and PET resin.
The business model centers around large-scale continuous polymerization and spinning operations that supply intermediary raw materials to the domestic and international textile and packaging industries.
The corporate structure includes both standalone manufacturing operations in Maharashtra and several subsidiary entities such as Indorama Ventures Yarns Private Limited, Indorama Yarns Private Limited, Indorama Sustainable Polymers (India) Private Limited, and Indorama Sustainable Polyester Yarns Private Limited.
02 · Historical context
What shaped the business before this quarter
Mr. Om Prakash Lohia has served as Chairman and Managing Director since 1986, guiding the company's development within the Indian synthetic and man-made fiber industry over decades.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹936.64 Cr |
| Total income | ₹940.20 Cr |
| Profit before tax | ₹63.74 Cr |
| Profit after tax | ₹63.74 Cr |
| EPS | ₹2.44 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 6.8% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 6.8% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹3.56 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Management stated that the 28.15% year-on-year and 22.10% sequential decrease in total income was primarily caused by volume impacts resulting from West Asian geopolitical issues affecting regional trade and logistics.
Management stated that the top-line contraction during the quarter was largely attributable to volume constraints arising from West Asian geopolitical tensions affecting trade and dispatch.
The company operates in a single primary reportable segment under Ind AS 108, encompassing the manufacturing and trading of polyester goods.
What drove margins
EBITDA margin improved to 11.49% in Q1 FY27 compared to 7.66% in Q1 FY26 and 10.08% in Q4 FY26, reflecting resilient pricing and cost discipline.
EBITDA margin improved to 11.49% in Q1 FY27 from 7.66% in Q1 FY26, supported by an optimized product mix, improved realization spreads, and volatile market sentiments.
Cost of materials consumed was reported at INR 584.61 crore, alongside purchases of stock-in-trade of INR 48.30 crore and inventory adjustments of INR 62.14 crore.
05 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The company maintains an aggregate production capacity of 6,72,000 tons per annum across Polyester Staple Fibre, Filament Yarn, Draw Texturized Yarn, Fully Drawn Yarn, textile grade chips, and PET resin at its Butibori plant.
06 · Strategy & new businesses
How the company is trying to change its growth mix
The consolidated financial results incorporate the performance of four subsidiaries: Indorama Ventures Yarns Private Limited, Indorama Yarns Private Limited, Indorama Sustainable Polymers (India) Private Limited, and Indorama Sustainable Polyester Yarns Private Limited.
07 · Reported developments
What changed operationally
Net profit for Q1 FY27 increased to INR 63.74 crore compared to INR 52.75 crore in Q1 FY26.
EBITDA margin expanded by 383 basis points year-on-year to 11.49% for the quarter.
Profit After Tax rose to INR 63.74 crore in Q1 FY27 from INR 52.75 crore in Q1 FY26, driven by stronger operating margins despite lower revenue volumes.
EBITDA expanded to INR 108.04 crore with the margin reaching 11.49%, compared to INR 100.27 crore (7.66%) in the corresponding quarter of the previous year.
08 · Pressure points & risks
What is not going smoothly
Revenue from operations declined to INR 936.64 crore in Q1 FY27 from INR 1,305.71 crore in Q1 FY26 due to volume pressures from West Asian geopolitical developments.
Total consolidated income decreased by 28.15% YoY to INR 940.20 crore, impacted by volume disruptions linked to West Asian geopolitical issues.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Capital allocation & funding
Consolidated finance costs for Q1 FY27 were reported at INR 29.38 crore, compared to INR 29.03 crore in Q1 FY26 and INR 31.62 crore in Q4 FY26.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Board Re-appointments
The Board of Directors approved the re-appointment of Mr. Om Prakash Lohia as Chairman and Managing Director for a further three-year term starting December 26, 2026, and the re-appointment of Mr. Dharmpal Agarwal as an Independent Director for a second five-year term starting November 25, 2026, subject to shareholder approval.
Reported update
Board Committee Reconstitution
The Board of Directors re-constituted the Stakeholders Relationship Committee, appointing Mr. Ravi Capoor as Chairman alongside members including Mr. Om Prakash Lohia, Mr. Vishal Lohia, Mr. Sanjay Gupta, Mr. Vipin Kumar, and Mr. Atim Kabra.
11 · Previous-quarter changes
What changed since the previous quarter
Consolidated total income moderated from INR 1,206.93 crore in Q4 FY26 to INR 940.20 crore in Q1 FY27.
Profit After Tax remained relatively stable at INR 63.74 crore in Q1 FY27 compared to INR 64.13 crore in Q4 FY26, despite the sequential top-line reduction.
12 · Key Q&A
The quarter, answered directly
What does Indo Rama Synthetics (India) do?
Indo Rama Synthetics (India) Limited is one of India's major dedicated polyester manufacturers, operating an integrated manufacturing complex situated at Butibori near Nagpur in Maharashtra.
What is the clearest takeaway from Q1 FY27?
During the quarter ended June 30, 2026 (Q1 FY27), Indo Rama Synthetics reported consolidated revenue from operations of INR 936.64 crore and total consolidated income of INR 940.20 crore.
What drove revenue or demand?
Management stated that the 28.15% year-on-year and 22.10% sequential decrease in total income was primarily caused by volume impacts resulting from West Asian geopolitical issues affecting regional trade and logistics.
What mattered most for margins or profitability?
EBITDA margin improved to 11.49% in Q1 FY27 compared to 7.66% in Q1 FY26 and 10.08% in Q4 FY26, reflecting resilient pricing and cost discipline.
What changed operationally beyond the headline numbers?
The company maintains an aggregate production capacity of 6,72,000 tons per annum across Polyester Staple Fibre, Filament Yarn, Draw Texturized Yarn, Fully Drawn Yarn, textile grade chips, and PET resin at its Butibori plant.
What are the main pressure points disclosed for the quarter?
Revenue from operations declined to INR 936.64 crore in Q1 FY27 from INR 1,305.71 crore in Q1 FY26 due to volume pressures from West Asian geopolitical developments.
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
Upcoming Annual General Meeting: The 40th Annual General Meeting of the company is scheduled to be held on Tuesday, September 8, 2026, through video conferencing.
- 02
Geopolitical and Volume Recovery: Monitor export dispatch volumes and supply chain normalization relative to West Asian transport routes.
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