Hexa Tradex Q2 FY27 Results (NSE: HEXATRADEX)
Signal: Loss reversed
The read
The earnings inflection is real at the consolidated level—PAT reached ₹751.09 lakh versus a ₹88.74 lakh loss YoY—but it is not yet an operating turnaround: revenue was only ₹437.38 lakh and the investment-and-finance subsidiary supplied ₹884.08 lakh of segment profit while standalone PAT stayed at a ₹57.71 lakh loss.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹4.37 Cr | +21029.5% | +40.7% |
| Net profit | ₹7.51 Cr | N/M | |
| EPS | ₹1.36 | N/M | |
| EBIT margin | N/A |
P&L walk
Revenue was ₹437.38 lakh, up 21029.5% YoY and 40.7% QoQ from a very low base; PAT was ₹751.09 lakh versus a ₹88.74 lakh loss YoY, driven by the investment-and-finance subsidiary and segment profit of ₹863.53 lakh rather than by a broad operating revenue recovery.
Segments
Investment and finance is driving the consolidated result with ₹884.08 lakh of segment profit, while trading and other activities reported a ₹20.55 lakh loss; the parent standalone PAT was a ₹57.71 lakh loss versus consolidated PAT of ₹751.09 lakh.
Key positives
- Consolidated PAT reached ₹751.09 lakh versus a ₹88.74 lakh loss YoY, with EPS improving from negative ₹0.16 to ₹1.36.
- Investment and finance contributed ₹884.08 lakh of segment profit, making it the clear earnings engine in the quarter.
- Consolidated revenue increased to ₹437.38 lakh from ₹2.07 lakh YoY and ₹310.87 lakh QoQ.
Key concerns
- Standalone revenue was only ₹0.97 lakh and standalone PAT was a ₹57.71 lakh loss, so the parent has not demonstrated an operating recovery.
- The consolidated result includes a ₹450.07 lakh loss on fair valuation of non-current investments, highlighting material earnings volatility from mark-to-market movements.
- Half-year operating cash flow was negative ₹127.35 lakh despite positive consolidated PAT, weakening earnings-to-cash conversion.
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