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

AKI India Limited reported its QQ1 2026 results with revenue of INR 176.63 million and a gross profit of INR 51.49 million, delivering a gross margin of approximately 29.15%. EBITDA stood at INR 13.09 million, while net income was INR 2.08 million and EPS was INR 0.02. However, the quarter featured a negative operating income of INR 11.25 million, indicating underutilization of fixed cost structure or a challenging operating environment, even as other income contributed INR 14.58 million to pre-tax profitability. This combination yielded a pre-tax income of INR 3.33 million and a net income of INR 2.08 million after taxes ( INR 1.03 million ). A notable feature of QQ1 2026 was a mixed mix of operating weakness but one-off upside from other income, which kept the bottom line positive.

Year-over-year revenue declined by 14.98% and quarterly revenue fell by 26.46%, signaling demand softness or pricing/mix pressure. Despite this, gross profit rose 82.65% YoY and 31.55% QoQ, suggesting some efficiency gains or favorable product mix within the leather/textiles portfolio. The operating profitability deterioration (operating income down ~134% YoY and QoQ) underscores the need for clearer operating leverage and sustained margin discipline. The balance sheet displays unusual sign conventions and data gaps (eg, negative current assets offset by sizable equity and accumulated OCI), underscoring the importance of reconciling the filings for clarity. Management commentary is not present in the dataset, limiting direct transcript-driven insights. Investors should monitor progress on cost controls, working capital optimization, and the durability of any non-operating income that supported net profitability in QQ1 2026.