Patel Retail LimitedQ1 FY27 Results & Financial Update
Patel Retail Limited: Q1 FY27 standalone results and company financials – revenue ₹309.54 Cr, PAT ₹9.52 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
Find an answer
Ask this result
Chart · Market context
Patel Retail price & chart
Market price₹211.00
1Y return—Price return
Loading market chart…
TradingView Lightweight Charts™ · Copyright © 2025 TradingView, Inc.TradingView
Market chartPrice chart temporarily unavailableThe price chart could not be loaded right now. The reported financial results remain available above.
Spotted a factual error?Tell us the number, date or statement and we will re-check the underlying records and calculations.Report an error
Quarterly Results AnalysisExplore Patel Retail 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
Patel Retail Limited reported a strong financial performance for the first quarter of fiscal year 2027, driven by robust operational momentum across its retail supermarket footprint and food processing manufacturing units.
Total income for Q1 FY27 reached Rs. 310.24 crore, registering a notable year-on-year increase compared to Rs. 183.19 crore reported in the corresponding quarter of the previous financial year.
Profit after tax (PAT) for the quarter rose to Rs. 9.52 crore, marking a 37.43 percent increase year-on-year from Rs. 6.92 crore in Q1 FY26, reflecting healthy business growth despite cost pressures.
During the quarter under review, the company expanded its retail store network with the launch of its 51st Patel's R Mart store in Rasayani, Raigad, and its 52nd store in Bapgaon, Bhiwandi, strengthening its footprint in suburban and semi-urban markets.
The company transitioned its depreciation accounting method for Property, Plant, and Equipment from the Written Down Value (WDV) method to the Straight-Line Method (SLM) starting June 30, 2026, which appropriately reflected future asset consumption patterns and increased profit before tax by approximately Rs. 1.71 crore for the quarter.
Operational expansion was supported by efficient supply chain management via the central distribution center in Ambernath, alongside continued traction in the company's online-to-offline mobile application channel.
01 · Business model
What does Patel Retail do?
Patel Retail Limited is a diversified value-driven retail and integrated food processing company headquartered in Ambernath, Maharashtra, operating neighborhood supermarkets under the Patel's R Mart banner across the Thane, Raigad, and Palghar districts.
The company's business model relies on a dual-engine structure encompassing domestic retail supermarket operations and an integrated manufacturing and export division catering to international markets across more than 35 countries.
The product portfolio spans over 10,000 SKUs across 38 product categories, covering everyday food staples, grocery, dairy, snacks, FMCG non-food, general merchandise, and apparel.
Patel Retail leverages in-house private-label brands including Indian Chaska for spices, Patel Fresh for pulses and dry fruits, and Patel Essentials for household and cleaning products to drive customer loyalty and higher gross margins.
02 · Historical context
What shaped the business before this quarter
Patel Retail began its commercial journey in 1990 with a single grocery store in Ambernath, Maharashtra, before opening its first supermarket in 2003 and subsequently incorporating Patel Retail Private Limited between 2007 and 2009.
The company established its first processing plant in Dudhai, Kutch, Gujarat in 2014, and subsequently expanded its processing capacity by setting up an agro-processing cluster in 2022 to support backward integration.
The company achieved an important corporate milestone by completing its Initial Public Offering in August 2025, listing its equity shares on both the Bombay Stock Exchange and the National Stock Exchange on August 26, 2025.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Q1 FY27 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹309.54 Cr | ₹182.45 Cr | ₹334.16 Cr |
| Total income | ₹310.24 Cr | ₹183.19 Cr | ₹339.55 Cr |
| Profit before tax | ₹12.82 Cr | ₹9.27 Cr | ₹13.64 Cr |
| Profit after tax | ₹9.52 Cr | ₹6.92 Cr | ₹9.98 Cr |
| EPS | ₹2.85 | ₹2.78 | ₹2.99 |
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue was supported by the ongoing expansion of the supermarket network, reaching 52 operational stores by the end of the quarter with new additions in Raigad and Bhiwandi.
International trading operations and exports of spices, pulses, and processed agricultural commodities to over 35 countries contributed significantly to the manufacturing and processing segment revenue.
What drove margins
The company shifted its depreciation methodology from WDV to SLM during the quarter, reducing quarterly depreciation and amortization expense and increasing profit before tax by approximately Rs. 1.70 crore.
Cost of materials consumed and purchases of stock-in-trade formed the bulk of expenditures, reflecting procurement trends across agricultural commodities and grocery inventory.
05 · Demand, customers & order book
Where demand is coming from
The company engaged middle-income households, working professionals, and bulk buyers through its loyalty programs, including the '15+1' free shopping club designed to prevent churn.
The Patel's R Mart mobile application recorded over 50,000 downloads and facilitated online-to-offline sales exceeding Rs. 50 lakhs during Q1 FY27 via store-led fulfillment.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The retail business continued to scale through its cluster-based model in Thane, Raigad, and Palghar districts, offering over 10,000 SKUs across food, non-food FMCG, and general merchandise.
Integrated processing facilities in Ambernath and Kutch operated as the backend backbone for both domestic retail distribution and international export operations.
Geography and market mix
Retail store expansion focused heavily on dense residential and commercial catchments within the Mumbai Metropolitan Region and surrounding areas like Raigad and Thane.
Export markets including Sri Lanka, the United Kingdom, Canada, and the United States continued to absorb processed foods, spices, and agricultural commodities under export authorizations.
07 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The company maintained total installed processing capacity exceeding 147,000 MTPA across its facilities in Ambernath, Maharashtra, and Kutch, Gujarat.
Projects, capex and execution
The company utilized funds raised from its public issue toward funding working capital requirements, repayment of borrowings, and general corporate purposes in accordance with disclosures reviewed by ICRA Limited.
08 · Strategy & new businesses
How the company is trying to change its growth mix
Management focused on scaling the contribution of private labels across packaged foods, cleaning essentials, and personal care products to enhance brand differentiation and profitability.
09 · Reported developments
What changed operationally
Successful launch of new supermarket outlets in Rasayani and Bapgaon expanded the retail store count to 52 stores during the quarter.
Reported strong year-on-year growth in total income and net profit, reflecting healthy underlying demand in both retail and processing segments.
10 · Items worth noticing
The line items that can distort a quick read
The prospective change in the depreciation method for Property, Plant, and Equipment from WDV to SLM resulted in a lower depreciation charge and an approximate Rs. 1.71 crore increase in profit before tax for the quarter.
11 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Working capital requirements were funded efficiently using internal accruals and proceeds allocated from the company's initial public offering.
12 · Management guidance & targets
What management is targeting from here
Management articulated a medium-term aspiration to expand the retail store network toward 75+ stores by leveraging its cluster-based expansion model.
The company targeted an increase in private-label contributions to over 22% of retail revenue over the medium term.
13 · Beyond the numbers
What changed beyond the numbers
Reported update
AGM Notice and Book Closure
The board approved the notice for the 19th Annual General Meeting scheduled for September 23, 2026, with book closure set from September 16, 2026, to September 23, 2026.
14 · Previous-quarter changes
What changed since the previous quarter
The change in depreciation method from WDV to SLM implemented in Q1 FY27 prospectively adjusted quarterly expense recognition patterns.
15 · Key Q&A
The quarter, answered directly
What does Patel Retail do?
Patel Retail Limited is a diversified value-driven retail and integrated food processing company headquartered in Ambernath, Maharashtra, operating neighborhood supermarkets under the Patel's R Mart banner across the Thane, Raigad, and Palghar districts.
What is the clearest takeaway from Q1 FY27?
Patel Retail Limited reported a strong financial performance for the first quarter of fiscal year 2027, driven by robust operational momentum across its retail supermarket footprint and food processing manufacturing units.
What drove revenue or demand?
Revenue was supported by the ongoing expansion of the supermarket network, reaching 52 operational stores by the end of the quarter with new additions in Raigad and Bhiwandi.
What mattered most for margins or profitability?
The company shifted its depreciation methodology from WDV to SLM during the quarter, reducing quarterly depreciation and amortization expense and increasing profit before tax by approximately Rs. 1.70 crore.
What changed operationally beyond the headline numbers?
The company maintained total installed processing capacity exceeding 147,000 MTPA across its facilities in Ambernath, Maharashtra, and Kutch, Gujarat.
What is management guiding or targeting from here?
Management articulated a medium-term aspiration to expand the retail store network toward 75+ stores by leveraging its cluster-based expansion model.
16 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
Build your own next-quarter scenario
Reported values are prefilled where a comparable basis is available. Otherwise, the field starts at 0. You can overwrite every field.
Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
Scenario revenue / income₹0 cr
Scenario profit after tax₹0 cr
Profit change vs base₹0 cr (0%)
Scenario margin0%
Growth needed to keep profit flat after this margin move0%
The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
17 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Store Rollout Progress: Monitor the pace of new store openings toward achieving management's medium-term retail footprint targets.
- 02
Private Label Share: Track the growth trajectory of private-label revenue contribution as a percentage of total retail sales.
Learn the metrics
Need the concepts first?
Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.