A-1 Ltd (542012)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, A-1's revenue was ₹175 Cr (+170.5% year on year, +20.5% on the previous quarter), and net profit ₹3.2 Cr (+427.4% year on year); the operating margin was 3.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹175 | +170.5% | +20.5% |
| Operating profit | ₹6.0 | +220.0% | -16.1% |
| Net profit | ₹3.2 | +427.4% | -27.4% |
| EPS (₹) | 0.07 | — | -22.2% |
| Operating margin | 3.4% | — | — |
No EPS growth against Q1 FY26: 3:1 bonus in Dec 2025 and ₹10 to ₹1 split in Jan 2026.
📢 Recent Corporate Announcements
A-1 Ltd has issued a corrigendum to its FY 2025-26 Annual Report to rectify typographical and clerical errors in its Cash Flow statements. On a standalone basis, the net increase in cash and cash equivalents for the year ended March 31, 2026, was corrected to 5.92. On a consolidated basis, corrections were made to items including Profit Before Tax (807.15), Investment in Partnership Firm (-41.36), and Net Cash used in Investing Activities (-67.16). The company noted that all other contents remain unchanged and were originally reported correctly in the results submitted on May 12, 2026.
- Standalone net increase in cash and cash equivalents corrected to 5.92 for the year ended March 31, 2026
- Consolidated Profit Before Tax in the cash flow statement revised to 807.15
- Consolidated net cash used in investing activities corrected to -67.16
- Company confirmed the May 12, 2026 financial result filing was accurate and other Annual Report contents remain unchanged
A-1 Ltd has scheduled its Annual General Meeting (AGM) for Friday, September 25, 2026, to approve a recommended final dividend of ₹0.05 per equity share of face value ₹1 for FY 2025-26. The company has fixed Friday, September 18, 2026, as the record date to determine shareholder eligibility for the dividend payout. At the current share price of ₹5.0, the proposed dividend translates to a dividend yield of approximately 1.0%.
- Recommended final dividend of ₹0.05 per equity share of ₹1 face value (5% of face value)
- Record date fixed as September 18, 2026 for dividend entitlement and AGM
- AGM scheduled for September 25, 2026 for shareholder approval
- Translates to a dividend yield of ~1.0% at the current market price of ₹5.0
A-1 Ltd's Board has recommended a final dividend of ₹0.05 per equity share of face value ₹1 for FY26, fixing 18th September 2026 as the cut-off date. The Board also decided not to proceed with the previously approved plan to increase its stake in M/s. A-1 Sureja Industries from 45% to 51%, citing EV industry headwinds and missed short-term milestones. The company will continue to hold its existing 45% partnership interest, while the associate firm plans to relocate its facility following a land sale proposal. The 22nd AGM is scheduled for 25th September 2026.
- Recommended final dividend of ₹0.05 per equity share (face value ₹1).
- Shelved acquisition of additional 6% stake in M/s. A-1 Sureja Industries, maintaining holding at 45%.
- Dividend and voting eligibility cut-off date fixed as 18th September 2026.
- 22nd Annual General Meeting scheduled for 25th September 2026 via video conference.
A-1 Ltd has scheduled a Board of Directors meeting on Wednesday, August 26, 2026. The board will consider and recommend a final dividend, if any, for the financial year ended March 31, 2026. Other agenda items include approving the Directors' Report, Secretarial Audit Report, executive remuneration, and convening the 22nd Annual General Meeting. For FY26, the company posted a net profit of ₹6.0 crore on revenue of ₹343.0 crore.
- Board meeting scheduled for August 26, 2026 at 02:00 PM
- Board to consider recommending final dividend for FY26
- Notice of the 22nd Annual General Meeting to be approved
- Remuneration of Mr. Anant Jitendra Patel and Mrs. Krishna Utkarsh Patel up for consideration
A-1 Ltd has secured a significant supply order worth approximately Rs 38.70 crore from the Solar Group of Industries for acids and industrial chemicals. This order represents about 11.3% of the company's TTM revenue of Rs 343 crore and is scheduled for execution within a tight three-month window ending October 31, 2026. The contract provides strong revenue visibility for Q2 and Q3 FY27 and reinforces the company's relationship with a marquee client in the defense and explosives sector. Given the company's thin operating margins of 3.5%, the efficient execution of this high-volume order is critical.
- Order value of approximately Rs 38.70 crore excluding GST
- Execution timeline of 3 months from August 1, 2026, to October 31, 2026
- Order value represents ~11.3% of the TTM revenue of Rs 343 crore
- Customer is Solar Group of Industries, a major player in the industrial explosives and defense sector
A-1 Ltd reported a massive 170.5% YoY increase in revenue for Q1 FY27, reaching ₹175.01 Cr compared to ₹64.69 Cr in Q1 FY26. Net profit surged by 427% YoY to ₹3.16 Cr, although it saw a sequential decline from ₹4.36 Cr in the preceding March quarter. The growth is almost entirely driven by the core Acids and Chemicals trading segment, which contributed ₹171.95 Cr. Despite the volume surge, operating margins remain thin at approximately 3.5%, and finance costs have more than doubled YoY to ₹0.98 Cr.
- Revenue from operations grew 170.5% YoY to ₹175.01 Cr, representing 51% of the entire TTM revenue in a single quarter.
- Net profit increased 427% YoY to ₹3.16 Cr from ₹0.60 Cr in the year-ago period.
- Acids and Chemicals segment revenue reached ₹171.95 Cr, accounting for 98.2% of total turnover.
- Finance costs rose 130% YoY to ₹0.98 Cr, indicating increased borrowing to fund higher trading volumes.
- New Sports Equipment segment contributed ₹3.18 Cr to the top line with a segment result of ₹0.13 Cr.
A-1 Ltd reported a massive 170% YoY increase in revenue to ₹175.01 Cr for Q1 FY27, driven by aggressive scaling in its core chemical trading business. Net profit surged 427% YoY to ₹3.16 Cr, although it saw a sequential decline from ₹4.36 Cr in Q4 FY26. The company has successfully diversified into a new 'Sports Equipment' segment, which contributed ₹3.18 Cr to the top line this quarter. However, finance costs have jumped 133% YoY to ₹0.98 Cr, reflecting the increased working capital needs of its high-volume operations.
- Revenue from operations grew 170.5% YoY to ₹175.01 Cr from ₹64.69 Cr in the same quarter last year.
- Net Profit (PAT) increased 427% YoY to ₹3.16 Cr, representing approximately 53% of the total TTM PAT in a single quarter.
- Diversified into 'Sports Equipment' segment which generated ₹3.18 Cr in revenue with a segment result of ₹0.13 Cr.
- Finance costs rose significantly by 133% YoY to ₹0.98 Cr, up from ₹0.42 Cr in Q1 FY26.
- Total assets expanded to ₹115.61 Cr as of June 2026, compared to ₹64.33 Cr in June 2025.
A-1 Ltd reported a massive 170.5% YoY increase in revenue to ₹175.01 Cr for the quarter ended June 30, 2026, driven by aggressive volume expansion in its core chemical trading business. Net profit surged 426% YoY to ₹3.16 Cr, although it saw a sequential decline of 27.5% from the March 2026 quarter (₹4.36 Cr). The company has successfully operationalized a new 'Sports Equipment' segment, contributing ₹3.18 Cr to the top line. However, finance costs more than doubled YoY to ₹0.98 Cr, indicating higher debt or working capital utilization to fund this rapid scaling.
- Revenue from operations grew 170.5% YoY to ₹175.01 Cr from ₹64.69 Cr in June 2025.
- Net Profit (PAT) increased to ₹3.16 Cr compared to ₹0.60 Cr in the year-ago period.
- Acids and Chemicals segment dominated performance with ₹171.95 Cr in revenue.
- New Sports Equipment segment contributed ₹3.18 Cr to revenue with a segment result of ₹0.13 Cr.
- Finance costs rose 130% YoY to ₹0.98 Cr, reflecting increased capital intensity.
A-1 Ltd (formerly A-1 Acid Limited) has scheduled a board meeting for July 28, 2026, to approve its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The meeting will take place at 11:00 a.m. at the company's registered office in Ahmedabad. Additionally, the trading window for designated persons has been closed since July 1, 2026, and will remain so until 48 hours after the results are declared. This is a routine regulatory filing ahead of the quarterly earnings release.
- Board meeting scheduled for July 28, 2026, to approve Q1 results
- Financial results cover the quarter ended June 30, 2026
- Trading window closed from July 1, 2026, until 48 hours post-announcement
- Meeting to be held at 11:00 a.m. at the Ahmedabad registered office
A-1 Ltd (formerly A-1 Acid Limited) has appointed M/s. S V R P & CO. as its Internal Auditor for the financial year 2026-27. The appointment was approved in a board meeting held on July 14, 2026, which concluded within 35 minutes. This is a standard regulatory compliance filing under SEBI (LODR) Regulations. The appointed firm has experience in statutory, tax, and internal auditing.
- Appointment of M/s. S V R P & CO. (FRN: 152226W) as Internal Auditor for FY 2026-27.
- Board meeting commenced at 03:30 p.m. and concluded at 04:05 p.m. on July 14, 2026.
- The auditor's experience spans Statutory and Tax Audit, Auditing & Assurance, and Internal Audit.
- The filing follows the requirements of Regulation 30 of SEBI (LODR) Regulations, 2015.
Financial Performance
Revenue Growth by Segment
The company reported a significant consolidated revenue growth of 57.39% YoY, increasing from INR 210.62 Cr in FY24 to INR 331.49 Cr in FY25. This growth is primarily driven by its core trading operations in industrial chemicals and acids.
Geographic Revenue Split
Not disclosed in available documents; however, the company is headquartered in Ahmedabad, Gujarat, which serves as its primary operational hub.
Profitability Margins
Net Profit Margin improved from 0.52% in FY24 to 1.10% in FY25. Profit After Tax (PAT) surged by 233% YoY to INR 3.65 Cr from INR 1.10 Cr, indicating improved operational efficiency despite the low-margin nature of the trading business.
EBITDA Margin
EBITDA margin stood at 3.09% in FY25 (INR 10.23 Cr) compared to 2.88% in FY24 (INR 6.06 Cr). The marginal improvement of 21 bps reflects better absorption of fixed costs over a larger revenue base.
Capital Expenditure
The company invested INR 0.61 Cr in Property, Plant & Equipment (including capital advances) during FY25, compared to INR 19.93 Cr in the previous year, suggesting a shift from heavy asset acquisition to operational scaling.
Credit Rating & Borrowing
Total borrowings increased to INR 21.50 Cr in FY25 from INR 10.74 Cr in FY24. Finance costs rose by 120% YoY to INR 1.65 Cr, reflecting increased utilization of working capital limits to fund the 57% revenue growth.
Operational Drivers
Raw Materials
Industrial acids and chemicals (Stock-in-Trade) which account for 88.32% of total revenue, amounting to INR 292.78 Cr in FY25.
Import Sources
Not specifically disclosed, but operations are centered in Gujarat, a major chemical hub in India.
Capacity Expansion
As a trading-heavy entity, the company focuses on volume throughput. Current inventory levels increased by 32.2% to INR 2.49 Cr to support higher sales volumes.
Raw Material Costs
Purchases of stock-in-trade stood at INR 292.78 Cr, representing 88.3% of revenue. Procurement costs increased by 61.1% YoY, slightly exceeding revenue growth, indicating competitive pricing pressures.
Manufacturing Efficiency
Not applicable as the company primarily operates in trading; however, inventory turnover is high with inventory representing only 0.75% of annual revenue.
Logistics & Distribution
Distribution and transport costs represent 6.46% of total revenue, amounting to INR 21.40 Cr in FY25.
Strategic Growth
Expected Growth Rate
57%
Growth Strategy
The company is achieving growth through aggressive volume expansion in the chemical trading market, evidenced by a 57.39% increase in revenue. The strategy involves leveraging its new corporate identity (formerly A-1 Acid Limited) to broaden its market reach and utilizing increased short-term borrowings (up 159% YoY) to fund higher trade receivables and inventory.
Products & Services
Trading of industrial acids and chemicals, including logistics and transport services for these products.
Brand Portfolio
A-1 Limited (formerly A-1 Acid Limited).
New Products/Services
Not specifically disclosed, but the name change to A-1 Limited suggests a potential diversification beyond just acids into broader chemical or industrial categories.
Market Expansion
The company is scaling its trading operations rapidly, with trade receivables increasing from INR 30.74 Cr to INR 50.64 Cr, indicating a wider customer base or deeper penetration with existing clients.
Strategic Alliances
The company operates with one associate entity, which is a partnership firm, though specific JV names were not provided.
External Factors
Industry Trends
The chemical trading industry is seeing a shift toward organized players with robust logistics capabilities. A-1 Limited is positioning itself by scaling its transport and distribution network (INR 21.40 Cr spend).
Competitive Landscape
Operates in a highly fragmented and competitive chemical trading market with low margins and high reliance on volume.
Competitive Moat
The company's moat lies in its established logistics network and ability to manage high-volume trading (INR 331 Cr revenue) with minimal inventory (INR 2.49 Cr), though this is a low-barrier industry.
Macro Economic Sensitivity
Highly sensitive to industrial production growth in India, particularly in sectors requiring chemical inputs, and fluctuations in global chemical prices.
Consumer Behavior
Industrial demand for acids and chemicals remains robust, supporting the company's 57% revenue jump.
Geopolitical Risks
Potential impact from global supply chain disruptions in the chemical industry which could affect the availability and pricing of stock-in-trade.
Regulatory & Governance
Industry Regulations
Subject to the Companies Act, 2013 and Indian Accounting Standards (Ind AS). The auditor confirmed compliance with Section 133 and Section 197 regarding director remuneration.
Environmental Compliance
Not specifically disclosed, but as a chemical trader, the company must adhere to safety and handling norms for hazardous substances.
Taxation Policy Impact
Effective tax rate for FY25 was approximately 26.8% (INR 1.34 Cr tax on INR 4.99 Cr PBT).
Legal Contingencies
The company reported zero pending litigations that would impact its financial position as of March 31, 2025.
Risk Analysis
Key Uncertainties
Negative cash flow from operations of INR 19.93 Cr in FY25 (compared to positive INR 10.31 Cr in FY24) is a major risk, primarily due to the INR 19.90 Cr increase in trade receivables.
Geographic Concentration Risk
Concentrated in the Indian domestic market, specifically the Gujarat industrial belt.
Third Party Dependencies
High dependency on third-party chemical manufacturers for stock-in-trade procurement (INR 292.78 Cr).
Technology Obsolescence Risk
Low risk for trading; however, the company has implemented accounting software with audit trail (edit log) features to meet regulatory requirements.
Credit & Counterparty Risk
High credit risk exposure with trade receivables at INR 50.64 Cr, which is 13.8x the company's annual PAT.
