True Green Q1 FY27 Results (BSE: 533407)
Signal: Loss reversed
The read
The key inflection is the standalone turnaround to ₹21.85 crore PAT and ₹6.63 EPS from losses, supported by revenue growth of 3141.7% and EBITDA growth of 2021.1% at a 16.3% margin; however, the magnitude is measured from a very small prior-year base and the filing gives no volume, order-book or capacity data to validate durability.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹227.57 Cr | 3141.7% | N/A |
| EBIT | ₹33.85 Cr | 2300.7% | |
| Net profit | ₹21.85 Cr | N/A | |
| EPS | ₹6.63 | N/A | |
| EBIT margin | 16.3% |
P&L walk
Standalone revenue reached ₹227.57 crore, up 3141.7% YoY; EBITDA rose 2021.1% to ₹37.12 crore at a 16.3% margin, EBIT rose 2300.7% to ₹33.85 crore, and PAT turned positive at ₹21.85 crore from a ₹0.39 crore loss, with other income of only ₹0.23 crore.
Key positives
- Revenue reached ₹227.57 crore, up 3141.7% YoY, while EBITDA rose 2021.1% to ₹37.12 crore.
- PAT turned positive at ₹21.85 crore from a ₹0.39 crore loss and EPS at ₹6.63 from ₹-0.03.
- Other income was only ₹0.23 crore against PBT of ₹27.35 crore; the earnings-quality flag is clean and the limited review report carries an unmodified opinion.
Key concerns
- The ₹21.85 crore PAT turnaround and 3141.7% revenue growth are against a very low prior-year base, limiting conclusions about normalized growth.
- The filing does not disclose volumes, realizations, capacity utilisation, order book, working-capital metrics or cash flow, leaving the durability and cash conversion of the growth untested.
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