Aerpace Indus Q1 FY27 Results (BSE: 534733)
Signal: Loss widened
The read
The key inflection is negative: after consolidated PAT losses of ₹176 lakh, ₹345 lakh and ₹236 lakh in Q1-Q3FY26 and ₹892 lakh in Q4FY26, Q1FY27 still reported a ₹412 lakh loss on ₹0 lakh revenue; standalone revenue grew 19.6% to ₹61.33 lakh, but employee costs of ₹273.81 lakh, finance costs of ₹74.03 lakh and depreciation of ₹66.67 lakh overwhelmed the operating base.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹0 Cr | N/A | N/A |
| EBIT | ₹-3.43 Cr | -105.4% | |
| Net profit | ₹-4.12 Cr | -139.5% | |
| EPS | ₹-0.27 | -145.5% | |
| EBIT margin | N/A |
P&L walk
Consolidated operating activity remained absent at ₹0 lakh revenue, while EBITDA loss widened to ₹274 lakh from ₹112 lakh YoY and PAT loss widened to ₹412 lakh from ₹172 lakh, indicating deterioration rather than operating progress.
Segments
The group operates as a single segment and reports ₹0 lakh consolidated revenue versus ₹61.33 lakh standalone revenue, indicating that the subsidiaries and consolidation perimeter are materially dragging the reported group top line.
Key positives
- Standalone revenue increased 19.6% YoY to ₹61.33 lakh, although the base remains small and consolidated revenue was ₹0 lakh.
- Standalone PAT loss narrowed sequentially from ₹669.38 lakh to ₹355.91 lakh, a 46.8% reduction in the loss.
Key concerns
- Consolidated PAT loss widened 139.5% YoY to ₹412 lakh while consolidated revenue remained ₹0 lakh.
- Standalone EBITDA loss widened 229.9% YoY to ₹221 lakh despite revenue growth of 19.6%, showing severe negative operating conversion.
- Finance costs increased 337.2% YoY to ₹74.03 lakh, while depreciation rose 29.9% YoY to ₹66.67 lakh.
- Employee benefits expense was ₹273.81 lakh, up 128.2% YoY, including ₹89.36 lakh of RSU-related compensation.
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