Inani Marbles Q1 Results: Net profit falls 18% YoY to ₹14 lakh
Inani Marbles & Industries Ltd reported Q1FY27 net profit of ₹14.03 lakh, down 17.6% YoY, as revenue fell 29.7% to ₹1,049.63 lakh. Inventory adjustments provided a significant boost to profits. The Board re-appointed Rishi Raj Inani as CFO and disclosed related-party transactions with Atlas Marble and Miraak Surfaces.
*this image is generated using AI for illustrative purposes only.
Inani Marbles & Industries reported a net profit of ₹14.03 lakh for the quarter ended June 30, 2026, marking a 17.6% year-on-year decline from ₹17 lakh in Q1FY26. Revenue from operations fell 29.7% to ₹1,049.63 lakh, down from ₹1,493.57 lakh in the prior-year quarter, signaling a contraction in core business activity. The company’s Board of Directors approved these unaudited standalone financial results during a meeting held on August 11, 2026, in Chittorgarh.
The Board also approved the re-appointment of Rishi Raj Inani as Chief Financial Officer, effective November 14, 2026. A Chartered Accountant with over nine years of experience in finance and the marble and granite sector, Inani is the son of Managing Director Suresh Kumar Inani. Additionally, the Board noted two material related-party transactions: one with Atlas Marble and Granite Tr and another with Miraak Surfaces Pvt Ltd. The financial results were reviewed by Nyati Mundra & Co., the statutory auditors, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Financial Performance Overview
Total income decreased to ₹1,081.26 lakh from ₹1,513.79 lakh in Q1FY26. While revenue from operations dropped significantly, other income rose 56.4% to ₹31.63 lakh from ₹20.22 lakh. Total expenses stood at ₹1,067.23 lakh, compared to ₹1,490.36 lakh in the previous year’s quarter. The reduction in expenses was primarily driven by lower cost of materials consumed (₹447.34 lakh vs ₹463.34 lakh) and a decrease in purchase of stock-in-trade (₹140.88 lakh vs ₹282.83 lakh). However, manufacturing expenses increased to ₹238.12 lakh from ₹195.98 lakh.
| Metric | Q1FY27 (₹ Lakh) | Q1FY26 (₹ Lakh) | Change |
|---|---|---|---|
| Revenue from Operations | 1,049.63 | 1,493.57 | -29.7% |
| Other Income | 31.63 | 20.22 | +56.4% |
| Total Expenses | 1,067.23 | 1,490.36 | -28.4% |
| Profit Before Tax | 14.03 | 23.43 | -40.1% |
| Net Profit | 14.03 | 17.00 | -17.6% |
Profit before tax declined 40.1% to ₹14.03 lakh from ₹23.43 lakh. No tax expense was recorded for the current quarter, whereas ₹6.43 lakh was paid in the prior-year quarter. Earnings per share (basic and diluted) fell to ₹0.08 from ₹0.09. Total comprehensive income for the period was ₹29.55 lakh, up from ₹36.29 lakh in Q1FY26, largely influenced by items not reclassified to profit or loss.
What the Numbers Show
The divergence between the sharp decline in revenue (-29.7%) and the more modest drop in net profit (-17.6%) highlights significant cost containment or favorable inventory adjustments. Specifically, changes in inventories of finished goods, work-in-progress, and stock-in-trade resulted in a positive adjustment of ₹170.44 lakh in Q1FY27, compared to an expense of ₹146.92 lakh in Q1FY26. This ₹317.36 lakh swing in inventory valuation substantially offset the impact of lower sales on the bottom line. Without this inventory benefit, the operational profitability would have contracted far more severely than the reported figures suggest.
Historical Stock Returns for Inani Marbles & Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.62% | +6.12% | -11.32% | -42.03% | -45.45% | -59.12% |
How sustainable is the current profit margin given that it was largely preserved by a ₹317.36 lakh swing in inventory valuation rather than operational efficiency?
What is the strategic rationale behind the related-party transactions with Atlas Marble and Miraak Surfaces, and will they impact future pricing or supply chain independence?
Will the re-appointment of Rishi Raj Inani as CFO signal a shift in financial strategy to address the 29.7% revenue contraction and rising manufacturing expenses?
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