Hexa Tradex Q1 FY27 Results (NSE: HEXATRADEX)
Signal: Loss reversed
The read
The key inflection is a consolidated PAT turnaround to ₹1.67 Cr and EBITDA turnaround to ₹1.91 Cr from prior-year loss bases, but with revenue still ₹0 and standalone PAT at -₹0.58 Cr; the trajectory is therefore a subsidiary-led earnings recovery rather than a demonstrated operating-revenue recovery.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹0 Cr | N/A | -100% |
| EBIT | ₹1.9 Cr | 387.2% | |
| Net profit | ₹1.67 Cr | N/A | |
| EPS | ₹0.3 | N/A | |
| EBIT margin | N/A |
P&L walk
Consolidated earnings turned positive with PAT of ₹1.67 Cr versus a ₹0.16 Cr loss YoY and EBITDA of ₹1.91 Cr versus the prior-year loss base, despite revenue remaining ₹0.
Segments
Although no segment table is disclosed, the consolidated PAT of ₹1.67 Cr versus standalone PAT of -₹0.58 Cr shows that subsidiaries or other consolidated entities are driving the group turnaround while the parent remains loss-making.
Key positives
- Consolidated PAT turned positive at ₹1.67 Cr from a ₹0.16 Cr loss YoY, while consolidated EBITDA turned positive at ₹1.91 Cr from a prior-year loss base.
- EPS improved to ₹0.3 from -₹0.03 YoY, tracking the consolidated PAT turnaround without a disclosed dilution divergence.
- Other income was only ₹0.01 Cr and was classified as clean in the verified financials, so the PAT turnaround was not materially driven by other income.
Key concerns
- Revenue remained ₹0, unchanged YoY and down from ₹1.45 Cr in Q4FY26, leaving no evidence of an operating-revenue recovery.
- Standalone PAT remained negative at -₹0.58 Cr and standalone EBITDA at -₹0.24 Cr, making the ₹1.67 Cr consolidated PAT turnaround dependent on entities outside the parent.
- The filing does not disclose segments, asset-base data, or operating KPIs that would identify the source or repeatability of the consolidated earnings improvement.
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