Batliboi Q1 FY27 Results (NSE: BATLIBOI)
Signal: Loss reversed
The read
The operating recovery is visible in revenue, which rose 80.1% YoY to ₹125.29 Cr, but the thesis remains margin-fragile: gross margin fell about 400bps as raw materials reached 37.8% of revenue, EBITDA margin was only 3.8%, and ₹1.04 Cr consolidated PAT was heavily diluted by ₹0.55 Cr of non-controlling losses and other group effects.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹125.29 Cr | +80.1% | -0.3% |
| EBIT | ₹2.99 Cr | N/A | N/A |
| Net profit | ₹1.04 Cr | N/A | N/A |
| EPS | ₹0.1 | N/A | N/A |
| EBIT margin | 3.8% |
P&L walk
Revenue rose to ₹125.29 Cr, up 80.1% YoY but down 0.3% QoQ; gross margin compressed to 36.0% as raw materials rose to 37.8% of revenue, while EBITDA was ₹4.74 Cr and consolidated PAT ₹1.04 Cr was reduced by ₹0.55 Cr of non-controlling losses.
Segments
No reportable segment split is provided, but the standalone-versus-consolidated gap is material: standalone PAT was ₹2.06 Cr versus consolidated PAT of ₹1.04 Cr, with subsidiaries and non-controlling interests dragging group earnings.
Key positives
- Consolidated revenue reached ₹125.29 Cr, up 80.1% YoY from ₹69.54 Cr, while consolidated gross business handled rose 77.0% YoY to ₹245.51 Cr.
- Standalone PAT recovered to ₹2.06 Cr from a ₹2.89 Cr YoY loss, and standalone EBITDA was ₹4.73 Cr at a 6.0% margin.
- The company completed the upfront acquisition of 80% of Penta Automation Systems on 3 July 2026, adding Pats Robotics as an indirect subsidiary and broadening the industrial automation offering.
Key concerns
- Gross margin compressed approximately 400bps YoY to 36.0% as raw material consumption increased to 37.8% of revenue from 35.2%, with no driver disclosed.
- Consolidated EBITDA margin was only 3.8% despite 80.1% YoY revenue growth, indicating limited conversion of the revenue recovery into operating profit.
- Standalone PAT of ₹2.06 Cr included ₹4.57 Cr of other income, so reported profitability was not purely operating-led.
Earnings quality: includes non-operating other income
Research and educational content only. Not investment advice.