Apollo Micro Sys Q1 FY27 Results (NSE: APOLLO)
Signal: Growth decelerated
The read
The key inflection is a second consecutive YoY quarter of margin expansion, with standalone EBITDA margin rising to 31.0% from 30.5% despite revenue growth decelerating to 16.7% from 47.3% in Q1FY26; however, PAT growth of 43.3% was helped by other income of ₹735.83 lakh, up 446.1% YoY, and EPS growth lagged PAT because of equity dilution.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹155.89 Cr | +16.7% | -24.0% |
| Net profit | ₹27.83 Cr | +43.3% | |
| EPS | ₹0.77 | +24.2% | |
| EBIT margin | 31.0% |
P&L walk
Standalone revenue increased to ₹15,589.44 lakh, +16.7% YoY but -24.0% QoQ; EBITDA margin improved to 31.0% from 30.5% YoY, while PAT growth of 43.3% was aided by other income of ₹735.83 lakh, up 446.1% YoY.
Key positives
- Standalone revenue reached ₹15,589.44 lakh, +16.7% YoY, while EBITDA margin expanded 52bps YoY to 31.0%.
- Material consumption plus inventory change fell to 59.9% of revenue from 61.4% YoY, supporting a 146bps gross-margin improvement to 40.1%.
- Financial costs declined 7.0% YoY to ₹931.93 lakh despite 16.7% revenue growth.
Key concerns
- Revenue growth decelerated to 16.7% YoY from 47.3% in Q1FY26 and declined 24.0% QoQ.
- Paid-up equity share capital rose 11.4% YoY to ₹3,716.00 lakh, causing EPS growth of 24.2% to trail PAT growth of 43.3%.
- Employee and other expenses grew 33.0% YoY, faster than revenue growth of 16.7%.
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