ASM Technologies Q1 FY27 Results (BSE: 526433)
Signal: Growth reaccelerated
The read
The operating trajectory re-accelerated: consolidated revenue rose +61.75% YoY to ₹198.82 Cr and PAT rose +72.25% to ₹26.82 Cr, while EBITDA margin improved to 24.1% from the 18% level reported in Q4FY26; the key inflection is recovery after two quarters of margin contraction, although ERP and investment-valuation controls remain unresolved.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹198.82 Cr | +61.75% | +47.15% |
| EBIT | ₹42.93 Cr | N/A | |
| Net profit | ₹26.82 Cr | +72.25% | |
| EPS | ₹18.39 | +72.45% | |
| EBIT margin | 21.6% |
P&L walk
Consolidated revenue increased to ₹198.82 Cr, +61.75% YoY and +47.15% QoQ, while EBITDA reached ₹47.96 Cr at a 24.1% margin and PAT rose to ₹26.82 Cr, +72.25% YoY; other income of ₹1.77 Cr remained non-material to PBT.
Segments
Domestic manufacturing was the largest consolidated revenue contributor at ₹116.189 Cr and ₹9.212 Cr of segment result, while services contributed ₹81.089 Cr of revenue and ₹18.150 Cr of segment result, making ERD the stronger profit contributor relative to revenue.
Key positives
- Consolidated revenue reached ₹198.82 Cr, +61.75% YoY and +47.15% QoQ, reversing the Q3FY26-Q4FY26 slowdown in the recent company series.
- EBITDA was ₹47.96 Cr at a 24.1% margin, above the 18% OPM reported for Q4FY26 in the prior-results series, marking a margin inflection.
- PAT increased to ₹26.82 Cr, +72.25% YoY, while EPS rose approximately +72.45% to ₹18.39, with the pat-to-EPS cross-check clean.
- The Board declared an interim dividend of ₹6 per share for FY27.
Key concerns
- Three foreign subsidiaries contributed ₹24.49 million of revenue and a ₹0.48 million net loss based on management certification rather than auditor review.
- The new TCS iON ERP system is still undergoing stabilization, with identified issues involving inventory valuation, debtor and creditor ageing, fixed-asset records and unbilled receivables.
- Standalone PAT of ₹27.04 Cr exceeded consolidated PAT of ₹26.82 Cr, indicating that subsidiaries and the jointly controlled entity were a small drag on group earnings despite strong group revenue growth.
Research and educational content only. Not investment advice.