Om Freight Forwa Q1 FY27 Results (NSE: OMFREIGHT)
Signal: Growth reaccelerated
The read
The key inflection is a project-cargo-led revenue acceleration to ₹193.35 Cr, up 104.8% YoY and 29% QoQ, but EBITDA growth of 86.5% trails revenue growth by 18.3 percentage points and reported other income of ₹1.93 Cr contributed 20.1% of PBT, so earnings quality and margin conversion remain the main trajectory questions.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹193.35 Cr | 104.8% | +29% |
| EBIT | ₹10.45 Cr | 127.7% | |
| Net profit | ₹7.31 Cr | 124.9% | |
| EPS | ₹2.17 | 112.7% | |
| EBIT margin | 6.8% |
P&L walk
Consolidated revenue rose to ₹193.35 Cr, up 104.8% YoY and 29% QoQ, while EBITDA increased 86.5% to ₹13.22 Cr and EBIT grew 127.7% to ₹10.45 Cr; PAT reached ₹7.31 Cr, up 124.9%, with ₹1.93 Cr of other income equal to 20.1% of PBT.
Segments
Revenue was identical on standalone and consolidated bases at ₹193.35 Cr, while consolidated PAT of ₹7.31 Cr exceeded standalone PAT of ₹7.07 Cr by ₹0.24 Cr; the filing provides no segment split or attribution for the difference.
Key positives
- Revenue reached ₹193.35 Cr, up 104.8% YoY and 29% QoQ, with management specifically identifying project cargo as the growth driver.
- EBIT rose 127.7% YoY to ₹10.45 Cr, faster than revenue growth of 104.8%, indicating improved operating profit conversion before the other-income effect.
- PAT increased 124.9% YoY to ₹7.31 Cr and 78% QoQ, extending the recovery from ₹4.11 Cr in Q4FY26.
Key concerns
- EBITDA grew 86.5% YoY to ₹13.22 Cr, 18.3 percentage points slower than revenue growth of 104.8%, limiting confidence that the revenue surge is translating proportionately into operating earnings.
- EPS growth of 112.7% lagged PAT growth of 124.9% by 12.2 percentage points, indicating a flagged PAT-to-EPS divergence that the filing does not explain.
- The company remains focused on project cargo, but the filing gives no quantitative project-cargo volume, order-book or realisation KPI to test the durability of the growth.
Earnings quality: includes non-operating other income
Research and educational content only. Not investment advice.