Honasa Consumer's first-quarter profit more than doubled to 90.4 million rupees, revenue increased by 27%

Mindspace Business Parks Reit, a real estate investment trust supported by K Raheja Corp, reported significant growth in its Net Operating Income (NOI) for the first quarter of the fiscal year 2027 (Q1 FY27). NOI increased by 27.8% compared to the same period last year, reaching INR 788 crore.

This growth was driven by several factors: increased rental income, asset acquisitions, active leasing activities, and maintaining a high occupancy rate across the entire portfolio.

The trust's operating revenue for the reporting quarter amounted to INR 951 crore, demonstrating a year-on-year growth of 26.4%. Furthermore, the trust announced a distribution of INR 442 crore to its unitholders in Q1 FY27, equivalent to a Distribution Per Unit (DPU) of INR 6.67, an increase of 15.2% year-on-year.

In compliance with the requirements of the Securities and Exchange Board of India (Sebi), trusts are obligated to distribute at least 90% of their Net Distributable Cash Flows (NDCF). NDCF is a standard financial metric established by Sebi to calculate the actual surplus cash flow available for distribution to the trust's investors. Trust payouts can take the form of dividends, interest, debt amortization from special project companies, or a combination of these elements.

Ramesh Nair, Managing Director and CEO of Mindspace Reit, noted that the results reflect the strength of the portfolio, the quality of assets, and disciplined management. He added that demand for campuses remains high, as most office spaces under construction are scheduled to be handed over within the next twelve months and are already pre-booked. To further enhance the integrated campus ecosystems and improve tenant service quality, the company has launched two new office projects and two new hotels.

In the first quarter of fiscal year 2027, the trust registered gross leasable area of 0.9 million square feet (msf), which decreased by 47% year-on-year. The average rental rate across the trust's portfolio was INR 81 per square foot per month, up from INR 73 per square foot per month. Meanwhile, occupancy in the Mindspace portfolio stood at 95.8%, slightly higher than the 95.7% recorded in the fourth quarter of fiscal year 2026.

Mindspace is working on a pipeline of projects under construction totaling 6.6 msf. During Q1 FY27, the company announced two new office buildings and two new hotels spanning 1.7 msf, located in Pune, Mumbai, and Hyderabad. The total portfolio size is approximately 46.2 msf, with the total asset value estimated at INR 51,890 crore. Quarter-over-quarter (QoQ), Mindspace's NOI grew by 6.19%, while gross leasable area declined by 74.28%.

Marico reported a 25% increase in consolidated net profit for the period of April–June, driven by strong revenue and sales volume growth.

The company's business volume in India increased by 11% in the reporting quarter. Both traditional and organized trade showed double-digit growth, while e-commerce continued to accelerate, showing growth above 50% thanks to quick ordering services.

The coconut oil manufacturer Parachute increased its revenue by 22.9%, reaching ₹3,301 crore in the first quarter of the 2027 fiscal year. Net profit stood at ₹630 crore. The PBIDT (Profit Before Interest, Depreciation, and Taxes) metric grew by 21.9% to ₹867 crore for the quarter ending in June.

The company's international business demonstrated a 15% growth in constant currency over this period. In its earnings report, the company noted that this growth was attributed to excellent results in Vietnam and the MENA region, as well as positive contributions from all markets.

The Parachute Rigids line showed a volume growth of 10%, as the company implemented some price adjustments to offset the decline in copra prices for consumers. Meanwhile, value-added hair oil grew by 22% in value terms, and Saffola Edible Oils increased revenue by 7%.

In its forecasts, Marico expressed confidence in achieving double-digit revenue growth, aiming to exceed ₹15,000 crore, and ensuring high EBITDA growth in the 2027 fiscal year. The company also expects to show high single-digit volume growth in its Indian business and mid-double-digit growth in constant currency in its international business.

The company emphasized that it continues to facilitate the structural shift of its portfolio towards more premium and profitable categories. Sougata Gupta, CEO and Managing Director of Marico, stated in his message: 'Our performance in the first quarter confirms our strategic clarity, quality of execution, and growth model—sustainable core brands, acceleration of the premium and digital segment, and a diversified international growth engine. With a 23% revenue increase driven by double-digit volume growth in India and a 25% profit increase—our highest in the last 28 quarters—we have started the year strongly.'

Jindal Stainless Ltd announced a year-on-year increase in consolidated net profit by 7.6%, reaching INR 769 crore in the June quarter, driven by increased revenue. In the same quarter last year, the company recorded a net profit of INR 715 crore, according to the report filed with the stock exchange.

The company's operating revenue grew by 10.5% year-over-year (YoY), amounting to INR 11,279 crore in the first quarter of fiscal year 2027, compared to INR 10,207 crore for the April-June period of the previous fiscal year. As of the end of June, the company's consolidated net debt reached INR 2,950 crore.

Abhidhuday Jindal, Managing Director of Jindal Stainless, noted that the company's results remained resilient despite an extremely dynamic operating environment characterized by supply chain disruptions and changing global trade conditions.

The company reported that in the initial weeks of the quarter, there were disruptions in the supply of industrial gases due to a crisis in West Asia. The company's management proactively mitigated this impact by increasing the use of liquefied natural gas to compensate for the limited availability of propane and LNG.

Despite the measures taken to address the issues, the company had to temporarily reduce production across all manufacturing units. Nevertheless, the company reported sales of finished products amounting to 580,805 metric tons in the first quarter of fiscal year 2027 and maintained healthy financial growth through sustained activity in the value-added product segment.

Export business remained stable amid the complex global situation. A diversified portfolio of markets, which includes expanding opportunities in South Korea, Japan, and Brazil, as well as a constant presence in Europe and the US, helped keep exports at 11% of total sales.

During the media call, Jindal emphasized the need to control growing imports from certain countries, particularly China. He stated that such import flows create challenges for domestic investment amidst rising demand for stainless steel in India, and called on the government not to extend Quality Control Orders (QCOs).

The statement noted that the company's strong performance was driven by steady demand in key end-use sectors, including transportation, infrastructure, manufacturing, and consumer sectors. The automotive segment continued to be a strong growth driver, and volumes of special grades also increased in the first quarter of fiscal year 2027. Furthermore, healthy sales growth was observed in the consumer goods and metro projects segments during the quarter, while demand from the railway sector remained constant. The company also received orders for specialized grades of stainless steel for the energy and oil and gas sectors.