Omaxe Q2 FY27 Results (NSE: OMAXE)
Signal: Loss narrowed
The read
The trajectory inflected sharply after the prior quarter's ₹166.42 crore consolidated loss: revenue reached ₹575.51 crore, +79.4% YoY, gross margin expanded 4,768bps to 8.2% and EBITDA turned positive at ₹38.80 crore, but the ₹24.25 crore group loss and standalone-to-consolidated gap show that the recovery is not yet broad-based across subsidiaries.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹575.51 Cr | +79.4% | +41.7% |
| EBIT | ₹29.49 Cr | Turned positive from loss | |
| Net profit | ₹-24.25 Cr | Loss narrowed 85.4% | |
| EPS | ₹-1.37 | Loss per share narrowed 85.0% | |
| EBIT margin | 6.7% |
P&L walk
Consolidated revenue increased to ₹575.51 crore, +79.4% YoY and +41.7% QoQ, gross margin expanded to 8.2% from -39.5% YoY as effective project cost fell, EBITDA turned positive at ₹38.80 crore and finance costs fell 43.4% YoY, but the group still reported a ₹24.25 crore loss after ₹38.40 crore of other income.
Segments
There is no segment table, but the standalone parent reported PAT of ₹50.49 crore versus a consolidated loss of ₹24.25 crore, showing that subsidiaries and group-level items dragged the consolidated result by at least ₹74.74 crore.
Key positives
- Consolidated revenue increased to ₹575.51 crore, +79.4% YoY and +41.7% QoQ, reversing the preceding quarter's ₹406.17 crore base.
- Gross margin expanded 4,768bps YoY to 8.2% as effective project cost declined to 91.8% of revenue from 139.5%.
- EBITDA turned positive at ₹38.80 crore, producing a 6.7% margin versus a negative base a year earlier.
- Finance costs declined 43.4% YoY to ₹36.60 crore, reducing one of the group's major earnings drags.
- Standalone PAT turned positive at ₹50.49 crore from a ₹50.49 crore loss YoY, indicating a material parent-level operating recovery.
Key concerns
- The consolidated group still reported a ₹24.25 crore loss despite ₹38.40 crore of other income, so operating recovery has not yet translated into positive group PAT.
- Standalone PAT of ₹50.49 crore contrasted with consolidated loss of ₹24.25 crore, implying a ₹74.74 crore gap from subsidiaries, associates and group-level items.
- The filing does not disclose bookings, pre-sales, collections, project launches or volume/realisation data, limiting visibility on whether the ₹575.51 crore revenue recovery is repeatable.
- Gross-margin expansion is not attributed by management; effective project cost remained high at 91.8% of revenue despite improving from 139.5% YoY.
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