Godavari Bioref. Q1 FY27 Results (NSE: GODAVARIB)
Signal: Loss reversed
The read
The quarter marks a sharp margin reset after Q4FY26's 15% OPM: consolidated revenue grew 4.62% YoY to ₹55,787.70 lakh but EBITDA margin fell to 0.5% and segment operating loss widened to ₹1,191.61 lakh, with Sugar, Cogeneration and Distillery all loss-making; the contradictory XBRL PAT/EPS figures also require resolution before relying on reported earnings.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹557.88 Cr | +4.62% | -1.10% |
| EBIT | ₹-11.92 Cr | N/A | |
| Net profit | 0 lakh | N/A | |
| EPS | ₹3.78 | N/A | |
| EBIT margin | 0.5% |
P&L walk
Consolidated revenue rose to ₹55,787.70 lakh, +4.62% YoY, but EBITDA margin declined to 0.5% from the prior-year 1.0%; segment operating loss widened to ₹1,191.61 lakh from ₹700.03 lakh, while finance cost fell 8.96% YoY to ₹1,393.00 lakh.
Segments
Bio-based Chemicals was the principal positive contributor with ₹1,583.30 lakh of segment result, but Sugar lost ₹1,603.97 lakh, Cogeneration lost ₹797.62 lakh and Distillery lost ₹177.38 lakh; the group loss is therefore concentrated in the core operating segments despite Bio-based Chemicals revenue rising 19.42% YoY.
Key positives
- Consolidated revenue increased 4.62% YoY to ₹55,787.70 lakh, with Sugar revenue up 15.28% and Bio-based Chemicals revenue up 19.42% YoY.
- Bio-based Chemicals generated ₹1,583.30 lakh of segment operating profit, up from ₹961.06 lakh YoY, making it the only major operating segment with positive result.
- Finance cost declined 8.96% YoY to ₹1,393.00 lakh.
Key concerns
- Consolidated EBITDA margin fell to 0.5% from 1.0% YoY, while segment operating loss widened to ₹1,191.61 lakh from ₹700.03 lakh.
- Sugar, Cogeneration and Distillery reported segment losses of ₹1,603.97 lakh, ₹797.62 lakh and ₹177.38 lakh respectively.
- Distillery revenue declined 24.88% YoY to ₹15,548.35 lakh and its segment result swung from a ₹815.40 lakh profit to a ₹177.38 lakh loss.
- The attached consolidated statement reports PAT loss of ₹1,931.96 lakh and EPS of negative ₹3.78, conflicting with XBRL PAT of ₹0 lakh and EPS of ₹3.78.
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