Oswal Green Tech Q1 FY27 Results (NSE: OSWALGREEN)
Signal: Earnings grew
The read
The quarter marks a recovery from the ₹8,315.70 lakh QoQ loss to ₹841.91 lakh PAT, but the trajectory is not yet operating-led: investment activities generated ₹1,203.94 lakh of segment profit and other income was ₹1,393.87 lakh, while Real Estate remained loss-making at ₹65.54 lakh; the ₹1,059.37 lakh disputed ICD-interest understatement and ₹9,717.00 lakh arbitration award keep earnings quality and asset recoverability uncertain.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹4.71 Cr | +2376.0% | -56.3% |
| EBIT | ₹9.5 Cr | N/A | |
| Net profit | ₹8.42 Cr | +26.4% | |
| EPS | ₹0.33 | +26.9% | |
| EBIT margin | 216.1% |
P&L walk
Standalone PBT rose to ₹934.19 lakh from ₹751.89 lakh, while PAT rose to ₹841.91 lakh, +26.4% YoY; the result is primarily investment- and other-income-led rather than operating-revenue-led.
Segments
Investment Activities drove the result with ₹1,355.53 lakh of revenue and ₹1,203.94 lakh of segment profit, while Real Estate generated ₹470.63 lakh of revenue but remained loss-making at ₹65.54 lakh and Unallocated costs contributed a ₹188.11 lakh loss.
Key positives
- Investment Activities segment profit was ₹1,203.94 lakh, +142.0% YoY and +128.1% QoQ, making it the clear earnings driver.
- PAT rose to ₹841.91 lakh, +26.4% YoY, and EPS rose to ₹0.33, +26.9% YoY, with the pat-to-eps cross-check clean.
- Finance costs declined 20.5% YoY to ₹16.10 lakh, while gross margin expanded to 80.6% from 50.2% YoY.
Key concerns
- Operating revenue was only ₹470.63 lakh despite a large reported PAT of ₹841.91 lakh; other income of ₹1,393.87 lakh represented 149.3% of PBT.
- Real Estate remained loss-making at ₹65.54 lakh on ₹470.63 lakh of segment revenue, and Unallocated reported a ₹188.11 lakh loss.
- The company proposes investing AED 40 Million in a Dubai real-estate subsidiary before incorporation and commencement of operations, creating execution and capital-allocation risk.
Earnings quality: includes non-operating other income
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