Narmada Macplast Q1 Results: Net profit up 12% YoY to ₹45 lakh
Narmada Macplast Drip Irrigation Systems Ltd delivered solid Q1FY26 results with net profit up 12% YoY to ₹45.08 lakh and revenue growing 19% to ₹368.73 lakh. EPS stood at ₹1.24. Expenses rose faster than revenue, impacting margin expansion.
*this image is generated using AI for illustrative purposes only.
Narmada Macplast Drip Irrigation Systems Ltd reported improved profitability in its first quarter of FY26, with net profit rising 12% year-on-year to ₹45.08 lakh. The company’s revenue from operations also expanded by 19% to ₹368.73 lakh, reflecting stronger sales activity compared to the prior period.
The Gujarat-based manufacturer posted earnings per share (EPS) of ₹1.24 for Q1FY26, up from ₹1.11 in Q1FY25. The Board of Directors approved the standalone unaudited financial results on August 14, 2026, following review by the Audit Committee.
Financial Performance
Revenue growth outpaced expense increases, allowing the company to widen its pre-tax profit margin slightly. However, total expenses rose sharply, driven primarily by higher purchases of stock-in-trade and other operational costs.
| Metric | Q1FY26 (₹ Lakh) | Q1FY25 (₹ Lakh) | Change |
|---|---|---|---|
| Revenue From Operations | 368.73 | 310.16 | +18.9% |
| Total Expenses | 307.81 | 255.99 | +20.2% |
| Profit Before Tax | 60.92 | 54.17 | +12.5% |
| Net Profit After Tax | 45.08 | 40.09 | +12.2% |
Purchases of stock-in-trade increased to ₹290.71 lakh from ₹251.27 lakh year-ago, aligning with the higher revenue base. Other expenses saw a significant jump to ₹16.27 lakh from ₹3.11 lakh in the corresponding quarter last year, partially offsetting the benefits of top-line growth.
What the Numbers Show
While revenue grew nearly 19%, total expenses rose at a faster pace of 20.2%. This divergence indicates that cost pressures, particularly in other expenses, are eroding some of the operating leverage typically gained from sales growth. The company maintained its tax rate consistency, with current tax expense rising proportionally to pre-tax profits.
There were no reportable segments disclosed under Ind AS guidelines. The company reported no other income or comprehensive income items for the period.
Historical Stock Returns for Narmada Macplast Drip Irrigation
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.98% | +17.13% | +14.38% | -1.04% | +16.79% | +4,073.68% |
What specific operational factors drove the disproportionate 300%+ surge in 'other expenses,' and can management provide guidance on stabilizing these costs in Q2?
How does the current inventory buildup of ₹290.71 lakh compare to historical working capital cycles, and is it indicative of anticipated demand spikes or supply chain hedging?
Given the erosion of operating leverage, what strategic initiatives is Narmada Macplast pursuing to ensure future revenue growth outpaces total expense increases?
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