Mardia Samyoung Q1 FY27 Results (BSE: 513544)
Signal: Operating turnaround
The read
The key inflection is the standalone operating turnaround to EBIT of ₹142.00 lakh and PAT of ₹105.06 lakh from a ₹22.88 lakh loss YoY, but the trajectory is not yet established: revenue fell 59.4% QoQ to ₹2483.91 lakh and EPS was constrained at ₹0.13 by a more than tenfold YoY increase in paid-up equity capital.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹24.84 Cr | N/A | -59.4% |
| EBIT | ₹1.42 Cr | N/A | |
| Net profit | ₹1.05 Cr | N/A | |
| EPS | ₹0.13 | N/A | |
| EBIT margin | 5.7% |
P&L walk
Standalone revenue was ₹2483.91 lakh, down 59.4% QoQ from ₹6111.74 lakh, while EBIT turned around to ₹142.00 lakh from a ₹22.88 lakh loss YoY; PAT reached ₹105.06 lakh despite EPS of only ₹0.13 after substantial equity expansion.
Key positives
- EBITDA/EBIT turned around to ₹142.00 lakh from a ₹22.88 lakh loss YoY, lifting operating margin to 5.7%.
- Finance cost fell to ₹0.00 lakh from ₹0.05 lakh QoQ, so the ₹105.06 lakh PAT was not supported by other income or exceptional items.
- Employee benefits and other expenses declined to ₹7.86 lakh from ₹44.85 lakh QoQ, providing near-term cost support.
Key concerns
- Revenue fell 59.4% QoQ to ₹2483.91 lakh from ₹6111.74 lakh, making the ₹105.06 lakh PAT turnaround difficult to extrapolate.
- EPS was ₹0.13 versus ₹0.17 QoQ despite PAT of ₹105.06 lakh, reflecting the effect of substantial equity expansion.
- The year-ago revenue base was ₹0.00 lakh, so reported YoY growth and the turnaround are not supported by a normal operating comparison.
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