Aerpace Indus Q2 FY27 Results (BSE: 534733)
Signal: Loss widened
The read
The apparent revenue recovery to ₹4.05 lakh remains economically immaterial: consolidated expenses of ₹615.42 lakh and operating cash outflow of ₹2439.34 lakh drove a ₹592.40 lakh loss, while the standalone business also lost ₹551.30 lakh despite ₹73.66 lakh of revenue. This extends the recent pattern of negligible group revenue and deepening losses rather than marking an operating inflection.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹0.04 Cr | 96.6% | 96.6% |
| Net profit | ₹-5.92 Cr | N/A | |
| EPS | ₹-0.38 | N/A |
P&L walk
Consolidated revenue was ₹4.05 lakh, up from ₹2.06 lakh QoQ and the year-ago quarter, but total expenses of ₹615.42 lakh drove a ₹592.40 lakh loss; finance cost was ₹50.10 lakh and other expenses were ₹409.73 lakh.
Segments
The group reports a single operating segment; the key divergence is that standalone revenue was ₹73.66 lakh while consolidated revenue was only ₹4.05 lakh, and the consolidated loss attributable to owners reached ₹585.95 lakh versus standalone loss of ₹551.30 lakh.
Key positives
- Standalone revenue increased to ₹73.66 lakh, +45.6% YoY and +20.1% QoQ, compared with consolidated revenue of ₹4.05 lakh.
- The company capitalised ₹222 lakh of machinery-related costs into CWIP during H1FY27, indicating progress toward the stated capital-expansion plan.
- The preferential issue upfront consideration of ₹1220.625 lakh was received, providing near-term funding availability subject to the proposed utilisation plan.
Key concerns
- Consolidated revenue was only ₹4.05 lakh while total expenses were ₹615.42 lakh, resulting in a ₹592.40 lakh loss.
- Operating cash outflow of ₹2439.34 lakh materially exceeded the consolidated loss, indicating substantial working-capital and other cash absorption.
- Standalone employee benefits of ₹309.21 lakh and other expenses of ₹216.39 lakh were disproportionate to ₹73.66 lakh of revenue.
- Consolidated borrowings were ₹7838.43 lakh against cash of ₹392.09 lakh, while finance cost was ₹50.10 lakh for the quarter.
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