CSM Technologies Q1 FY27 Results (NSE: CSM)
Signal: Slipped to loss
The read
The key inflection is a sharp operating reversal: consolidated revenue grew 20.8% YoY to ₹4270.00 lakh but EBITDA fell to -₹708.00 lakh and PAT to -₹831.00 lakh from ₹258.30 lakh profit last year and ₹930.00 lakh in Q4; this breaks the recent margin-expansion arc and requires evidence that the loss is temporary before the FY27 trajectory can be trusted.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹42.7 Cr | +20.8% | -29.3% |
| EBIT | ₹-8.51 Cr | N/A | |
| Net profit | ₹-8.31 Cr | -421.9% | |
| EPS | ₹-2.14 | -419.4% | |
| EBIT margin | -16.6% |
P&L walk
Consolidated revenue increased to ₹4270.00 lakh, +20.8% YoY, but EBITDA was -₹708.00 lakh versus a positive Q4 margin of 25.09%; depreciation of ₹133.90 lakh and finance costs of ₹23.80 lakh compounded the operating loss, producing PAT of -₹831.00 lakh.
Segments
No segment table is disclosed, but the consolidated loss of ₹831.00 lakh versus standalone loss of ₹778.00 lakh indicates a ₹53.00 lakh incremental subsidiary drag; overseas subsidiaries contributed ₹128.25 lakh of revenue and ₹79.51 lakh of loss.
Key positives
- Consolidated revenue was ₹4270.00 lakh, up 20.8% YoY despite being 29.3% below Q4's ₹6043.00 lakh.
- The company completed an IPO of 1,29,01,000 shares at ₹113 per share, raising ₹14,578.13 lakh, which materially strengthens funding capacity.
Key concerns
- EBITDA margin fell to -16.6% from 25.09% in Q4, a 4169bps sequential contraction, while EBITDA declined to -₹708.00 lakh.
- PAT swung to -₹831.00 lakh from ₹258.30 lakh profit YoY and ₹930.00 lakh in Q4; the filing does not disclose the operating reason for the reversal.
- The IPO increased the weighted-average share count from allotment on June 30, 2026, making the ₹-2.14 EPS outcome less directly comparable with the prior period.
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