Optiemus Infra. Q1 FY27 Results (NSE: OPTIEMUS)
Signal: Margin expansion
The read
The business is inflecting from a trading-led base toward manufacturing scale, with consolidated revenue up 102.1% YoY and manufacturing revenue up 142.4%, but the thesis remains margin-sensitive because gross margin compressed about 180bps as raw-material intensity rose to 76.6%; the consolidated face PAT/XBRL mismatch and 38.3% other-income share of PBT reduce earnings visibility.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹882.09 Cr | +102.1% | +81.9% |
| EBIT | ₹34.69 Cr | N/A | |
| Net profit | ₹0 Cr | N/A | |
| EPS | ₹2.39 | +43.1% | |
| EBIT margin | 4.7% |
P&L walk
Revenue accelerated to 88209.33 lakh, up 102.1% YoY, led by manufacturing; gross margin fell to 10.4% from about 12.2% as raw-material intensity rose to 76.6% from 34.3%, while EBITDA margin improved to 4.7%.
Segments
Manufacturing is the clear driver: revenue rose 142.4% YoY to 74589.40 lakh and segment result rose 20.8% to 2078.78 lakh, while trading revenue grew only 6.9% and trading result fell 44.7% to 200.52 lakh.
Key positives
- Manufacturing revenue rose 142.4% YoY to 74589.40 lakh and manufacturing segment result increased 20.8% to 2078.78 lakh.
- EBITDA margin improved to 4.7% from 3.4% in the prior-year quarter while revenue grew 102.1%, with employee costs up 57.1%, depreciation up 15.7% and finance cost up 15.5%, all materially slower than revenue growth.
- Manufacturing segment assets increased to 251094.85 lakh from 107690.44 lakh YoY, supporting the group's transition toward a larger electronics-manufacturing platform.
Key concerns
- Gross margin compressed about 180bps YoY to 10.4% as raw-material cost rose to 76.6% of revenue from 34.3%; the filing does not disclose whether the pressure reflects input inflation, pricing or mix.
- Standalone revenue fell 63.1% YoY to 4969.33 lakh and standalone PAT fell 67.8% to 91.62 lakh, showing that earnings are concentrated in subsidiaries.
- Trading segment result fell 44.7% YoY to 200.52 lakh despite 6.9% revenue growth, indicating weaker profitability in the legacy trading business.
Earnings quality: includes non-operating other income
Research and educational content only. Not investment advice.