Manaksia Alumi. Q1 FY27 Results (NSE: MANAKALUCO)
Signal: Margin expansion
The read
The key inflection is margin-led earnings acceleration: revenue grew only 3.9% YoY to ₹13,958.97 lakh, but EBITDA rose 21.3% to ₹1,384 lakh and EBITDA margin expanded 140bps to 9.9%, driving PAT up 82.7% to ₹285.06 lakh; the sustainability of the margin gain remains uncertain because the filing calls the driver undisclosed.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹139.59 Cr | 3.9% | -10.3% |
| EBIT | ₹11.23 Cr | 23.3% | |
| Net profit | ₹2.85 Cr | 82.7% | |
| EPS | ₹0.43 | 79.2% | |
| EBIT margin | 9.9% |
P&L walk
Standalone revenue increased 3.9% YoY to ₹13,958.97 lakh, while EBITDA rose 21.3% to ₹1,384 lakh and EBITDA margin expanded to 9.9%; PAT growth of 82.7% to ₹285.06 lakh was supported by stronger operating profit rather than material other income.
Key positives
- EBITDA increased 21.3% YoY to ₹1,384 lakh versus revenue growth of 3.9%, with EBITDA margin expanding 140bps to 9.9%.
- Gross margin expanded 297bps YoY to 31.1%, while raw material cost declined to 72.3% of revenue from 84.3% on the disclosed cost-of-materials line.
- PAT rose 82.7% YoY to ₹285.06 lakh, and EPS increased 79.2% to ₹0.43 without a paid-up capital increase.
Key concerns
- Revenue growth was limited to 3.9% YoY at ₹13,958.97 lakh, while other expenses increased 15.0% YoY to ₹2,562.62 lakh.
- Finance cost was ₹728.99 lakh, equal to 5.2% of revenue, and increased 15.8% sequentially.
- Gross-margin and EBITDA-margin improvement drivers were not disclosed, leaving the persistence of the 31.1% gross margin and 9.9% EBITDA margin unconfirmed.
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