AKI India Limited (AKI.BO) Q1 2026 Earnings Report

AKI India Limited reported QQ1 2026 results with a clear revenue headwind and a mixed margin picture. Revenue declined to INR 176.63 million (INR 17.66 crore), down 14.98% year-over-year and 26.46% quarter-over-quarter, signaling softer demand or end-market volatility in the leather and accessories segment. Despite the top-line softness, gross profit rose to INR 51.49 million, producing a gross margin of 29.15%, supported by a favorable gross profit trend (YoY +82.65%, QoQ +31.55%). Operating income remained negative at INR -11.25 million, as operating expenses and other costs outweighed the gross profit, yielding an operating margin of -6.37%. The company posted EBITDA of INR 13.09 million (margin ~7.41%) and a positive pre-tax footing with income before tax of INR 3.33 million, followed by taxes of INR 1.03 million and net income of INR 2.08 million (EPS INR 0.02). Net margin stood at 1.18%. Management commentary is not provided in the supplied transcript data, limiting explicit forward guidance; however, the results imply ongoing focus on cost control, product mix optimization, and potential stabilization of top-line trends. On the balance sheet, cash and equivalents stood at approximately INR 2.78 crore, while equity reported around INR 65.14 crore, with noted anomalies in liabilities presentation that warrant clarification. The absence of cash flow data prevents a full view of liquidity and capital management. Investors should monitor margin recovery, working capital efficiency, and any management guidance in subsequent disclosures.