Filtron Engineer Q1 FY27 Results (BSE: 531191)
Signal: Loss reversed
The read
The key trajectory is a sharp sequential slowdown in consolidated revenue to ₹222631.61 thousand, down 65.8% QoQ from ₹651211.74 thousand, partly offset by gross-margin recovery to 16.9% and a 10.8% EBITDA margin; however, standalone revenue remained zero and the consolidated earnings engine is therefore dependent on the subsidiary rather than the parent.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹22.26 Cr | N/A | -65.8% |
| EBIT | ₹2.35 Cr | N/A | |
| Net profit | ₹1.53 Cr | N/A | -46.6% |
| EPS | ₹0.24 | N/A | |
| EBIT margin | 10.8% |
P&L walk
Consolidated revenue was ₹222631.61 thousand, down 65.8% QoQ from ₹651211.74 thousand, while gross margin improved to 16.9% from a negative Q4 base; EBITDA was ₹24000 thousand at 10.8%, and PAT was ₹15343.51 thousand after ₹5874.96 thousand of tax.
Segments
There is no segment table, but the standalone-versus-consolidated gap is material: consolidated revenue was ₹222631.61 thousand and PAT ₹15343.51 thousand, while standalone revenue was zero and PAT only ₹100.71 thousand, indicating that earnings sit almost entirely in the subsidiary included in consolidation.
Key positives
- Consolidated EBITDA was ₹24000 thousand at a 10.8% margin, while gross margin recovered to 16.9% from a negative Q4FY26 base as raw material cost fell to 85.5% of revenue from 103.0%.
- Consolidated PAT remained positive at ₹15343.51 thousand despite a 65.8% QoQ revenue decline.
- Consolidated revenue and profit substantially exceed standalone figures, showing that the acquired/consolidated subsidiary is currently the principal operating asset.
Key concerns
- Consolidated revenue fell 65.8% QoQ to ₹222631.61 thousand from ₹651211.74 thousand, reversing the acceleration seen in Q4FY26.
- Standalone operating revenue was zero and standalone PAT of ₹100.71 thousand was largely supported by ₹707.73 thousand of other income, limiting evidence of parent-level operating recovery.
- Finance costs increased 40.7% QoQ to ₹2250.91 thousand even as consolidated revenue declined.
- EPS fell 83.2% QoQ to ₹0.24 from ₹1.43, tracking the 46.6% QoQ PAT decline.
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