Nagpur Power Q1 FY27 Results (BSE: 532362)
Signal: Slipped to loss
The read
The key inflection is a sharp divergence between the profitable ferro-manganese segment at ₹247.89 lakh and the loss-making Electrical and Electro Mechanical divisions, which pushed consolidated EBITDA down 42.0% YoY to ₹0.8 Cr despite 9.6% revenue growth; standalone PAT of ₹2.47 Cr is non-operating because revenue was ₹0 and other income was ₹3.32 Cr.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹17.14 Cr | 9.6% | N/A |
| EBIT | ₹0.54 Cr | -43.7% | |
| Net profit | ₹-0.16 Cr | N/A | |
| EPS | ₹-0.13 | N/A | |
| EBIT margin | 4.7% |
P&L walk
Consolidated revenue increased 9.6% YoY to ₹17.14 Cr, but EBITDA declined 42.0% to ₹0.8 Cr and EBIT declined 43.7% to ₹0.54 Cr; the operating result was overwhelmed by losses in Electrical and Electro Mechanical operations, leaving PAT at a ₹0.16 Cr loss.
Segments
The ferro-manganese segment turned profitable at ₹247.89 lakh from a ₹230.88 lakh loss, but Electrical swung to a ₹131.91 lakh loss from a ₹133.43 lakh profit and Electro Mechanical remained loss-making at ₹74.85 lakh, dragging the group to a ₹0.16 Cr consolidated loss.
Key positives
- Ferro-manganese segment result improved to ₹247.89 lakh from a ₹230.88 lakh loss, a ₹478.77 lakh YoY turnaround.
- Consolidated revenue grew 9.6% YoY to ₹17.14 Cr, supported by 44.7% growth in Electro Mechanical revenue to ₹619.05 lakh.
- Consolidated EPS of ₹-0.13 broadly tracked the ₹141.0% YoY PAT deterioration, with no material dilution signal.
Key concerns
- Consolidated EBITDA fell 42.0% YoY to ₹0.8 Cr and EBITDA margin contracted to 4.7%, despite 9.6% revenue growth.
- Electrical Division swung from a ₹133.43 lakh profit to a ₹131.91 lakh loss, making it the largest reported segment drag.
- Electro Mechanical Division swung from a ₹297.58 lakh profit in the immediately prior quarter to a ₹74.85 lakh loss.
- Finance costs increased 205.9% YoY to ₹0.52 Cr.
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