Omaxe Q1 FY27 Results (NSE: OMAXE)
Signal: Loss reversed
The read
Q1FY27 marks a sharp consolidated operating inflection, with revenue at ₹406.17 Cr, +43.9% YoY, and EBITDA margin recovering to 9.9% from approximately -54.5%, but the recovery is not yet dependable because standalone revenue fell 36.5% YoY, consolidated PAT was only ₹0.90 Cr, and other income of ₹32.77 Cr was 638.8% of PBT.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹406.17 Cr | 43.9% | +16.5% |
| EBIT | ₹32.21 Cr | N/A | |
| Net profit | ₹0.9 Cr | N/A | |
| EPS | ₹0.05 | N/A | |
| EBIT margin | 9.9% |
P&L walk
Consolidated revenue increased to ₹406.17 Cr, +43.9% YoY and +16.5% QoQ, while EBITDA improved to ₹40.09 Cr from a ₹153.85 Cr YoY loss as inventory-related costs improved; the ₹0.90 Cr PAT was nevertheless heavily supported by ₹32.77 Cr of other income.
Segments
The group-level recovery is concentrated in consolidated subsidiaries and associates: consolidated revenue was ₹406.17 Cr and PAT ₹0.90 Cr versus standalone revenue of ₹75.82 Cr and PAT loss of ₹31.88 Cr, while the filing identifies real estate as the only reportable segment.
Key positives
- Consolidated revenue reached ₹406.17 Cr, up 43.9% YoY and 16.5% QoQ, reversing the prior Q1FY26 revenue decline of 17.5% YoY.
- EBITDA turned positive at ₹40.09 Cr versus a ₹153.85 Cr YoY loss, with EBITDA margin improving to 9.9% from approximately -54.5%.
- Finance costs fell to ₹27.08 Cr from ₹67.03 Cr YoY and ₹69.54 Cr QoQ, reducing a major earnings drag.
- The consolidated gross-cost profile improved materially, with project-cost intensity falling to 91.4% of revenue from 147.5% YoY.
Key concerns
- Standalone revenue declined to ₹75.82 Cr, down 36.5% YoY and 53.1% QoQ, while standalone EBITDA margin worsened to -37.7% from approximately -4.8% YoY.
- Consolidated PAT was only ₹0.90 Cr despite ₹40.09 Cr EBITDA because other income was ₹32.77 Cr, equal to 638.8% of PBT; the operating recovery needs confirmation without this support.
- The filing does not disclose real-estate operating KPIs such as pre-sales, bookings, collections or project-level execution, limiting visibility on the durability of the revenue rebound.
Earnings quality: includes non-operating other income
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