Emrock Corporation Q1 FY27 Results (BSE: 531676)
Signal: Steady quarter
The read
The operating mix is inflecting toward solar, which contributed ₹34.86 lakh of revenue and ₹11.76 lakh of result, but the trajectory is not yet earnings-quality clean: other income was ₹19.97 lakh, finance cost was ₹11.07 lakh, QoQ revenue fell 52.3%, and EPS collapsed 93.4% after equity expansion.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹0.45 Cr | +203.1% | -52.3% |
| Net profit | ₹0.19 Cr | +98.5% | |
| EPS | ₹0.12 | -93.4% |
P&L walk
Operating revenue rose to ₹44.86 lakh, +203.1% YoY but -52.3% QoQ, driven by the new solar segment; PAT increased to ₹19.01 lakh, +98.5% YoY, but the result remained heavily supported by ₹19.97 lakh of other income and EPS declined to ₹0.12 from ₹1.83 as paid-up capital expanded.
Segments
Solar drove the quarter with ₹34.86 lakh of revenue and ₹11.76 lakh of segment result, while real estate revenue fell to ₹10.00 lakh and generated nil segment result; solar assets also rose to ₹1,553.89 lakh from ₹237.61 lakh YoY.
Key positives
- Solar generated ₹34.86 lakh of revenue and ₹11.76 lakh of segment result in Q1FY27 versus nil in the year-ago quarter, establishing the quarter's principal operating growth engine.
- Operating revenue increased 203.1% YoY to ₹44.86 lakh, while employee costs declined 79.2% YoY to ₹1.32 lakh.
- Total segment assets rose 272.9% YoY to ₹2,101.18 lakh, with solar assets increasing to ₹1,553.89 lakh from ₹237.61 lakh.
Key concerns
- Revenue declined 52.3% QoQ to ₹44.86 lakh, and real estate revenue fell 85.7% QoQ to ₹10.00 lakh.
- Other income of ₹19.97 lakh equalled 44.5% of operating revenue, while finance costs of ₹11.07 lakh were newly incurred in the quarter.
- Solar segment liabilities increased to ₹1,053.88 lakh from ₹5.25 lakh QoQ, materially changing the capital employed profile.
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