Embassy Develop Q2 FY27 Results (NSE: EMBDL)
Signal: Loss widened
The read
The operating trajectory remains severely impaired: revenue was ₹2167.50 million, down 68.2% YoY, and EBITDA margin was approximately -49%, making this the fourth consecutive quarter of margin contraction despite sequentially stable revenue.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹216.75 Cr | -68.2% | 0.0% |
| Net profit | ₹-234.4 Cr | -53.2% | |
| EPS | ₹-1.95 | -75.7% | |
| EBIT margin | -49% |
P&L walk
Consolidated revenue was ₹2167.50 million, down 68.2% YoY, while EBITDA margin was approximately -49%; other income of ₹189.62 million provided limited support as the group remained loss-making with PAT of ₹2344.00 million negative.
Segments
The group result is being dragged by subsidiaries: the 35 subsidiaries reported ₹1900.25 million of revenue and a ₹232.68 million loss after tax in the quarter, broadly explaining the consolidated loss.
Key positives
- Standalone loss narrowed sequentially from ₹802.88 million to ₹638.09 million, although it remained 57.6% worse than the year-ago loss.
- Consolidated revenue of ₹2167.50 million was broadly stable sequentially, providing a base for any future recovery in project execution.
Key concerns
- Consolidated revenue declined 68.2% YoY to ₹2167.50 million, continuing the sharp contraction seen in the prior quarter.
- EBITDA margin remained approximately -49%, following four consecutive quarters of margin contraction in the prior-results series.
- Consolidated PAT was a ₹2344.00 million loss, 53.2% worse than the year-ago loss, while EPS declined to ₹-1.95 from ₹-1.11.
- The standalone business remained loss-making at ₹638.09 million after tax, while subsidiary losses of ₹232.68 million materially dragged the group result.
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