Brahmaputra Inf. Q2 FY27 Results (NSE: BRAHMINFRA)
Signal: Steady quarter
The read
The standalone trajectory improved in Q2FY27: revenue reached ₹105.48 crore, +16.2% YoY, and PAT ₹19.64 crore, +34.2% YoY, led by EPC segment profit growth of 69.6% and 30.6% lower finance costs; however, H1 operating cash flow of ₹1.51 crore against ₹43.74 crore PBT and consolidated P&L omission keep earnings quality and group-level momentum unconfirmed.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| EBIT margin | N/A |
P&L walk
The filing includes consolidated assets and subsidiary/JV information, but the consolidated P&L statement is not present in the supplied filing text; consolidated revenue, margins, PAT and EPS therefore cannot be read without fabrication.
Segments
Standalone EPC drove the quarter: revenue was ₹100.72 crore, +17.7% YoY, and segment result was ₹20.07 crore, +69.6% YoY, while Real Estate and Other income revenue declined to ₹4.76 crore from ₹5.20 crore.
Key positives
- Standalone EPC segment revenue reached ₹100.72 crore, +17.7% YoY, while EPC result rose 69.6% YoY to ₹20.07 crore.
- Finance costs fell 30.6% YoY to ₹3.69 crore, helping PAT grow 34.2% YoY to ₹19.64 crore despite 16.2% revenue growth.
- Order book was disclosed at ₹2,000.00 crores Plus as of 30 September 2026, providing execution visibility beyond the current ₹105.48 crore quarterly revenue base.
- Standalone EPS of ₹6.77 grew 34.3% YoY, closely tracking PAT growth of 34.2%.
Key concerns
- Standalone operating cash flow was only ₹1.51 crore in H1FY27 against ₹43.74 crore PBT, indicating weak cash conversion.
- Contract assets increased to ₹102.92 crore from ₹91.05 crore on a consolidated basis, tying up capital in unbilled revenue.
- Standalone borrowings rose to ₹133.75 crore and bank guarantees outstanding were ₹82.57 crore, while OCCPS of ₹165.15 crore has repayments beginning from June 2027.
- Real Estate and Other income revenue fell 8.5% YoY to ₹4.76 crore from ₹5.20 crore.
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