Lorenzini Apparels Q1 Results: Net profit surges 125% YoY to ₹2.17 crore
Lorenzini Apparels posted a 125% YoY net profit rise to ₹216.77 lakh in Q1FY27, supported by an 82% revenue increase to ₹1,669.17 lakh. The Board appointed M/s A D M S & Associates as statutory auditors following the resignation of M/s Mittal & Associates.
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lorenzini apparels reported a significant turnaround in profitability for the quarter ended June 30, 2026, with net profit after tax (PAT) rising 125% year-on-year to ₹216.77 lakh. Revenue from operations surged 82% to ₹1,669.17 lakh, up from ₹919.08 lakh in the corresponding period of FY26. The Board of Directors approved the unaudited financial results on August 11, 2026, alongside the appointment of a new statutory auditor to replace the resigning firm.
The profit jump was primarily fueled by robust top-line growth and improved operational efficiency. While total income increased to ₹1,874.23 lakh from ₹1,134.03 lakh in Q1FY26, total expenses rose more moderately to ₹1,574.41 lakh from ₹934.18 lakh. This divergence widened the profit before tax margin significantly. The company’s basic earnings per share (EPS) also doubled to ₹0.13 from ₹0.06 in the previous year’s quarter.
Financial Performance Highlights
| Particulars | Q1FY27 (Unaudited) | Q1FY26 (Unaudited) | YoY Change |
|---|---|---|---|
| Revenue From Operations | ₹1,669.17 lakh | ₹919.08 lakh | +82% |
| Other Income | ₹205.06 lakh | ₹214.95 lakh | -5% |
| Total Income | ₹1,874.23 lakh | ₹1,134.03 lakh | +65% |
| Total Expenses | ₹1,574.41 lakh | ₹934.18 lakh | +69% |
| Profit Before Tax | ₹299.82 lakh | ₹199.85 lakh | +50% |
| Net Profit After Tax | ₹216.77 lakh | ₹96.40 lakh | +125% |
| Basic EPS (₹) | 0.13 | 0.06 | +117% |
Auditor Resignation and Appointment
In a separate development, the Board accepted the resignation of M/s Mittal & Associates (FRN: 106456W) as statutory auditors. The firm cited preoccupation with other assignments as the reason for stepping down effective August 11, 2026. Mittal & Associates had issued a limited review report with an unmodified opinion on the Q1FY27 results prior to their resignation.
To fill the casual vacancy, the Audit Committee recommended the appointment of M/s A D M S & Associates (FRN: 123456W) as the new statutory auditors. This appointment is subject to shareholder approval and is effective from August 11, 2026. M/s A D M S & Associates confirmed their eligibility under Section 139 of the Companies Act, 2013, stating no disqualifications or pending proceedings against the firm.
What the Numbers Show
The financial data reveals a strong operating leverage in Q1FY27. While revenue nearly doubled compared to the prior year quarter, cost of materials consumed remained relatively contained at ₹50.89 lakh versus ₹21.21 lakh in Q1FY26, indicating efficient inventory management or favorable input costs. Furthermore, other income remained stable at ₹205.06 lakh, contributing consistently to the bottom line despite the surge in core operations. The combination of high revenue growth and stable other income drove the substantial expansion in net margins.
Historical Stock Returns for Lorenzini Apparels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.00% | +1.26% | +5.37% | +15.42% | -17.86% | -92.70% |
Can the 82% revenue growth be sustained in Q2FY27, or was it driven by one-off seasonal demand or specific large orders?
What is the strategic rationale behind the sudden change of statutory auditors, and does this signal any internal governance reviews or compliance shifts?
How will the company manage working capital and inventory levels to maintain the observed operating leverage as sales volume continues to expand?
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