Oswal Green Tech Q2 FY27 Results (NSE: OSWALGREEN)
Signal: Earnings grew
The read
The apparent PAT improvement to ₹855.70 lakh, up 55.7% YoY, is not yet a clean operating inflection: revenue from operations fell 10.9% to ₹1387.53 lakh, investment income drove the result, and the company states that ₹1071.01 lakh of ICD interest income was not recognised during the quarter pending litigation.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹13.88 Cr | -10.9% | N/A |
| Net profit | ₹8.56 Cr | +55.7% | |
| EPS | ₹0.24 | +60.0% | |
| EBIT margin | N/A |
P&L walk
Standalone revenue from operations fell 10.9% YoY to ₹1387.53 lakh, but PAT increased 55.7% to ₹855.70 lakh; the earnings mix remains investment-income heavy and is affected by unrecognised disputed ICD interest.
Segments
Investment Activities was the main earnings driver, reporting segment revenue of ₹1381.05 lakh and segment result of ₹1008.89 lakh, while Real Estate contributed ₹1387.53 lakh of revenue but only ₹167.52 lakh of segment result; unallocated costs dragged by ₹29.80 lakh.
Key positives
- PAT rose 55.7% YoY to ₹855.70 lakh and basic EPS increased 60.0% YoY to ₹0.24, broadly tracking profit.
- Operating cash flow remained positive at ₹2858.32 lakh in H1FY27 despite a 23.8% YoY decline.
- Investment Activities generated ₹1008.89 lakh of segment result, making it the principal contributor to reported profit.
Key concerns
- Revenue from operations declined 10.9% YoY to ₹1387.53 lakh, so the 55.7% PAT growth was not operating-revenue led.
- Real Estate generated ₹1387.53 lakh of segment revenue but only ₹167.52 lakh of segment result, materially below the Investment Activities contribution.
- The auditor states that ₹1071.01 lakh of ICD interest income and corresponding current assets were understated for the quarter because the company is contesting an arbitration award in the Delhi High Court.
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