Patel Retail Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Patel Retail Ltd filed with BSE on 27 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Patel Retail reported Q1 FY27 total income of INR310.24 crores, up 69.35% year-on-year, with EBITDA of INR19.68 crores, up 23.92% year-on-year, and profit after tax of INR9.52 crores, up 37.43% year-on-year. Management attributed EBITDA margin compression to a higher raw material intensity mix in manufacturing, export, and commodity-linked business during the quarter. The company opened new stores at Rasayani and Babgaon during the quarter and a 53rd store at Uran in Raigad after quarter close, and expanded its Indian Chaska brand into Madhya Pradesh.
Numbers mentioned
Total income: INR310.24 crores (Q1 FY27)
p. 3
“Total income stood at INR310.24 crores, registering a robust 69.35% year-on-year growth compared with INR183.19 crores in Q1 FY '26.”
Rahul Patel, page 3 of the filed PDF · View the filing
EBITDA: INR19.68 crores (Q1 FY27)
p. 3
“EBITDA increased by 23.92% year-on-year to INR19.68 crores compared with INR15.88 crores in the corresponding quarter last year, reflecting continued growth in the scale of our operation.”
Rahul Patel, page 3 of the filed PDF · View the filing
Profit after tax: INR9.52 crores (Q1 FY27)
p. 3
“At the bottom line, profit after tax increased by 37.43% to INR9.52 crores, while earning per share stood at INR2.85 for the quarter.”
Rahul Patel, page 3 of the filed PDF · View the filing
Earnings per share: INR2.85 (Q1 FY27)
p. 3
“At the bottom line, profit after tax increased by 37.43% to INR9.52 crores, while earning per share stood at INR2.85 for the quarter.”
Rahul Patel, page 3 of the filed PDF · View the filing
Sales per square foot for mature stores: INR20,000 per square foot (Q1 FY27)
p. 5
“On an average, INR20,000 per square foot is our retail sales.”
Hitesh Sawlani, page 5 of the filed PDF · View the filing
Average monthly sales per store: 80 to 90 lakhs
p. 5
“Ballpark figure will be 80 to 90 lakhs on an average per store sales per month.”
Hitesh Sawlani, page 5 of the filed PDF · View the filing
Private label contribution to retail sales: 17.55% (Q1 FY27)
p. 9
“The private level contribution to our retail sales is almost 17.55%, and for our rest of sales is almost 37% in my export sales and 45% in my domestic sales.”
Hitesh Sawlani, page 9 of the filed PDF · View the filing
Capacity utilization: 50% to 55% (current)
p. 9
“the current utilization is between 50% to 55%, but in the medium term by the end of FY27, FY28, we plan on getting this utilization to around 80%, 80%, 82%.”
Rahul Patel, page 9 of the filed PDF · View the filing
Apparel and fashion product contribution: 8% to 9%
p. 11
“Yes, almost. You can see the range of 8% to 9%. Basically, this is a general merchandise category of a retail store.”
Hitesh Sawlani, page 11 of the filed PDF · View the filing
Apparel inventory holding period: 15-20 days
p. 11
“For this category, the holding period is almost 15-20 days.”
Hitesh Sawlani, page 11 of the filed PDF · View the filing
Madhya Pradesh Indian Chaska revenue: INR10 lakh to INR12 lakh per month
p. 11
“Madhya Pradesh, as of now, we are averaging at INR10 lakh to INR12 lakh per month which isn't bad because spices category is such where the consumer loyalty is very high.”
Rahul Patel, page 11 of the filed PDF · View the filing
Ticket size per store: 500 to 1,000
p. 13
“So, ticket size is in the range of almost 500 to 1,000 depend upon the location of the store.”
Hitesh Sawlani, page 13 of the filed PDF · View the filing
Product wastage in retail business: less than 0.1%
p. 13
“Yes, it is it is less than 0.1%, and in manufacturing and processing, except for the sand that comes when we procure from our farmers, right, nothing really goes to wastage.”
Rahul Patel, page 13 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Capacity utilization — around 80%, 80%, 82% · by end of FY27, FY28
stated as an aspiration by Rahul Patel
p. 9
“but in the medium term by the end of FY27, FY28, we plan on getting this utilization to around 80%, 80%, 82%.”
Rahul Patel, page 9 of the filed PDF · View the filing
New store additions — 8 to 10 stores · FY27
stated firmly by Hitesh Sawlani
p. 7
“We are expecting almost further stores, almost 8 to 10 stores by fiscal '27, and the revenue from these new stores will be in the range of INR1 crores per month.”
Hitesh Sawlani, page 7 of the filed PDF · View the filing
Operating cash flow from operations — much better positive cash flow · H1 FY27
stated conditionally by Hitesh Sawlani
p. 6
“Of course, by the H1, we are expecting the much better positive cash flow from operations.”
Hitesh Sawlani, page 6 of the filed PDF · View the filing
EBITDA margin — coming quarters
stated as an aspiration by Rahul Patel
p. 5
“But with that being said, in the coming quarters, it should improve, and we remain disciplined on volume and working capital as well.”
Rahul Patel, page 5 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management attributed the decline to a higher raw material intensity mix in manufacturing, export and commodity-linked business, and said margins should improve in coming quarters.
Answered by Rahul Patel
Asked by Keval Mehta: What needs to improve to bring EBITDA margin back to the 8-9% range after 6.3% in Q1?
p. 4
“Actually, the decline of 133 basis points was primarily due to mix of manufacturing, export, and commodity-linked business, which had a higher raw material intensity during the Q1.”
Rahul Patel, page 4 of the filed PDF · View the filing
CFO said the balance sheet and cash flow statement for Q1 had not been published yet, but better positive operating cash flow is expected by H1 as current assets are converted to cash.
Answered by Hitesh Sawlani
Asked by Vidhi Purohit: Is the company still on track for positive operating cash flow by H1 FY27, and what is the working capital outlook?
p. 6
“So, madam, currently we haven't published the balance sheet and the cash flow statement for the Q1. Of course, by the H1, we are expecting the much better positive cash flow from operations.”
Hitesh Sawlani, page 6 of the filed PDF · View the filing
Management said roughly 40% of revenue comes from exports with the rest from manufacturing and retail, and 35-40% of export revenue contributes to bottom line.
Answered by Hitesh Sawlani
Asked by Vidhi Purohit: How concentrated is the B2B and export business, and what share comes from top 10 customers?
p. 7
“So, revenue pattern will be almost let's say 40% towards exports and the rest of towards the manufacturing and the retail business of the total revenue.”
Hitesh Sawlani, page 7 of the filed PDF · View the filing
Management said overall own-brand contribution was around 17.5%, with a breakdown of 37% in export sales and 45% in domestic sales.
Answered by Rahul Patel
Asked by Yash Rathod: What revenue did own brands generate in Q1 FY27 across retail, distribution and exports?
p. 9
“The overall contribution was around 17.5%. Hitesh sir, can you please give a breakdown of across the distribution channel?”
Rahul Patel, page 9 of the filed PDF · View the filing
Management said the new stores are operationally breakeven from day one and following expected capex payback trajectories, with some performing exceptionally well.
Answered by Rahul Patel
Asked by Akansha Singh: How are stores opened in the recent expansion performing compared to older stores?
p. 10
“I mean, all of those stores are pretty much like they are operationally breakeven since day one, which is a good thing for us.”
Rahul Patel, page 10 of the filed PDF · View the filing
Management said the focus will be on entering Western suburbs and Pune/PCMC region once clusters are identified, with steady profitability as the core focus rather than segment-specific targets.
Answered by Rahul Patel
Asked by Keval Mehta: What is the five-year vision for Patel Retail in terms of scale and business presence?
p. 14
“Right. So in the next five years, we in terms of our retail store footprints, we would try we will try to enter the Western suburbans as well as Pune PCMC region once the cluster is been identified.”
Rahul Patel, page 14 of the filed PDF · View the filing
Risks flagged
Volatile raw material market affecting margins
p. 5
“Also, the raw material market was quite volatile, right? So, in order to protect our business economics, we had that 233 basis points decline.”
Rahul Patel, page 5 of the filed PDF · View the filing
Consumer preference for touch-and-feel shopping limiting online/e-commerce sales growth
p. 6
“The online trend in certain categories where we have our USP, let's say, like a staple category, which contributes to more than like a 50% of our revenue, comes is still a very touch and feel category, right?”
Rahul Patel, page 6 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.