Satani Bearings Q1 FY27 Results (BSE: 505703)
Signal: Loss narrowed
The read
The trajectory is weak despite the apparent YoY improvement: revenue was ₹561.49 lakh versus ₹0.00 lakh YoY but fell 65.8% QoQ, EBITDA margin deteriorated to -3.7% from positive preceding-quarter EBITDA, and the ₹21.07 lakh PAT loss was only modestly narrower YoY; EPS improvement is not an operating recovery because paid-up capital expanded to ₹2,000.00 lakh.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹5.61 Cr | N/A | -65.8% |
| EBIT | ₹-0.21 Cr | 19.2% | |
| Net profit | ₹-0.21 Cr | 19.2% | |
| EPS | ₹-0.11 | 90.8% | |
| EBIT margin | -3.7% |
P&L walk
Standalone revenue was ₹561.49 lakh in Q1FY27 versus ₹0.00 lakh YoY and declined 65.8% QoQ from ₹1,642.83 lakh; the ₹21.07 lakh PAT loss narrowed 19.2% from the ₹26.13 lakh loss YoY but reversed from ₹20.58 lakh profit in the preceding quarter, with no support from other income.
Key positives
- PAT loss narrowed 19.2% YoY to ₹21.07 lakh from ₹26.13 lakh, although the year-ago revenue base was ₹0.00 lakh.
- Finance costs remained ₹0.00 lakh and other income was ₹0.00 lakh, so reported performance was not supported by leverage or treasury income.
Key concerns
- Revenue declined 65.8% QoQ to ₹561.49 lakh from ₹1,642.83 lakh, while EBITDA moved from ₹24.58 lakh profit to ₹21.06 lakh loss and margin fell 520bps QoQ to -3.7%.
- Stock-in-trade purchases consumed 95.6% of revenue, leaving only a 4.4% gross margin before employee and other expenses.
- Paid-up equity capital increased to ₹2,000.00 lakh from ₹220.08 lakh, causing EPS to improve 90.8% YoY to ₹-0.11 despite PAT remaining a ₹21.07 lakh loss.
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