The Anup Enginee Q1 FY27 Results (NSE: ANUP)
Signal: Revenue declined
The read
First quarter of steep decline after several quarters of growth: revenue and margins collapsed, with consolidated PAT nearly zero. The subsidiary Mabel Engineers added losses. Other income (₹0.52 Cr) formed 56% of PBT, underscoring weak operating core. The PRIOR RESULTS SERIES shows Q4FY26 already declining; this quarter confirms a structural downturn.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹125.25 Cr | -28.5% | -39.7% |
| EBIT | ₹2.55 Cr | -92.5% | |
| Net profit | ₹0.57 Cr | -97.8% | |
| EPS | ₹0.28 | -97.9% | |
| EBIT margin | 2.04% |
P&L walk
Every P&L line deteriorated sharply: revenue fell 28.5% YoY, raw material cost % rose 165bps to 49.5%, employee costs grew 7.4% despite revenue drop, and depreciation rose 13.8%, crushing EBITDA margin from 24.4% to 8.0%. Operating profit (EBIT) of ₹2.55 Cr was 92.5% below last year; PAT of ₹0.57 Cr was virtually wiped out. Other income of ₹0.52 Cr formed 56% of PBT, masking the operating loss in the core business.
Segments
Consolidated PAT at ₹57 lakh lagged standalone PAT of ₹111 lakh, with wholly-owned subsidiary Mabel Engineers contributing a loss of ~₹54 lakh during the quarter.
Key concerns
- Consolidated revenue fell 28.5% YoY to ₹125 Cr, accelerating from -6.3% in Q4FY26.
- Net profit collapsed 97.8% YoY to ₹0.57 Cr; EPS dropped from ₹13.11 to ₹0.28.
- EBITDA margin compressed from 24.4% to 8.0% due to input cost pressure (raw material % +165bps) and negative operating leverage from fixed employee cost (+7.4% YoY) and depreciation (+13.8% YoY).
- Other income formed 55.8% of PBT, indicating severely weakened operating profitability.
- Wholly-owned subsidiary Mabel Engineers posted a loss of ~₹54 lakh, dragging consolidated results below standalone.
Earnings quality: includes non-operating other income
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