Majestic Auto H1FY27 Results (NSE: MAJESAUT)

5 Nov 2026 · Analysis by Alpha Inflection

Signal: Revenue declined

The read

The apparent H1FY27 earnings recovery is non-operating: consolidated profit before exceptional items fell 55.6% YoY to ₹1,132.21 lakh and revenue from operations fell 96.6% to ₹96.24 lakh, while PAT rose 103.4% only after a ₹9,346.16 lakh exceptional gain from the Sharan Hospitality transaction.

P&L walk

Consolidated operating performance weakened sharply: revenue from operations fell 96.6% YoY to ₹96.24 lakh and profit before exceptional items fell 55.6% to ₹1,132.21 lakh, while H1 PAT rose 103.4% to ₹7,613.78 lakh almost entirely because of the ₹9,346.16 lakh exceptional gain.

Segments

No segment table was disclosed; however, the consolidated-versus-standalone gap shows the group generated H1 PAT of ₹7,613.78 lakh versus standalone PAT of ₹10,269.78 lakh, with consolidation reducing profit by ₹2,655.99 lakh because of subsidiary-level losses and non-controlling interest.

Key positives

• Consolidated EPS rose 103.4% YoY to ₹73.22, fully tracking the 103.4% PAT growth because paid-up capital remained unchanged at ₹1,039.82 lakh.
• The Sharan Hospitality transaction generated a disclosed exceptional gain of ₹9,346.16 lakh in H1FY27, supporting reported PAT of ₹7,613.78 lakh.
• Finance costs declined 85.9% YoY to ₹89.56 lakh on a consolidated basis, reducing financial drag.

Key concerns

• Revenue from operations collapsed 96.6% YoY to ₹96.24 lakh, while profit before exceptional items fell 55.6% to ₹1,132.21 lakh.
• H1 operating cash flow was negative ₹2,034.00 lakh versus positive ₹2,187.00 lakh in H1FY26, despite reported PAT of ₹7,613.78 lakh.
• Other income of ₹1,470.46 lakh represented 52.8% of consolidated total income of ₹2,782.82 lakh, making the recurring earnings base difficult to assess.

View original filing

Research and educational content only. Not investment advice.