Atlantaa Q1 FY27 Results (NSE: ATLANTAA)
Signal: Loss widened
The read
The operating trajectory deteriorated despite consolidated revenue growth of 26.2% YoY to ₹1,835.61 lakh: gross margin compressed 1,689bps to 63.5% as materials rose to 36.5% of revenue, EBITDA margin fell 3,380bps to 21.2%, and the ₹300 lakh legacy-project settlement pushed PAT loss to ₹506.39 lakh; the quarter reverses the margin expansion seen in Q4FY26.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹18.36 Cr | +26.2% | -39.9% |
| EBIT | ₹-6.42 Cr | N/A | |
| Net profit | ₹-5.06 Cr | -196.1% | |
| EPS | ₹-0.62 | -195.2% | |
| EBIT margin | -35.0% |
P&L walk
Consolidated revenue rose to ₹1,835.61 lakh (+26.2% YoY), but material cost increased to ₹669.28 lakh (+135.3% YoY), compressing gross margin to 63.5%; EBITDA fell 51.3% to ₹389.32 lakh and depreciation of ₹1,031.53 lakh kept EBIT at a ₹642.21 lakh loss before the ₹506.39 lakh PAT loss.
Segments
No segment table is disclosed because the company operates in a single contracting and infrastructure-development business; the consolidated loss of ₹506.39 lakh is ₹111.90 lakh worse than standalone loss of ₹394.49 lakh, indicating subsidiaries dragged group earnings.
Key positives
- Consolidated revenue from operations increased 26.2% YoY to ₹1,835.61 lakh, versus a 21.4% YoY increase in Q3FY26.
- Finance cost was broadly controlled on a consolidated basis, rising only 2.3% YoY to ₹285.33 lakh while revenue grew 26.2%.
Key concerns
- Gross margin contracted 1,689bps YoY to 63.5% as material cost increased to 36.5% of revenue from 19.6%, with no specific driver disclosed.
- The company absorbed material-cost pressure while revenue grew 26.2% YoY, resulting in EBITDA falling 51.3% to ₹389.32 lakh and EBITDA margin declining to 21.2% from 55.0%.
- A ₹300 lakh final settlement cost relating to projects completed in earlier years materially depressed current-quarter profitability.
- Consolidated depreciation of ₹1,031.53 lakh was 2.7 times EBITDA of ₹389.32 lakh, leaving EBIT at a ₹642.21 lakh loss.
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