Power Mech Proj. Q1 FY27 Results (NSE: POWERMECH)
Signal: Growth reaccelerated
The read
The trajectory has shifted from Q1FY26's 13% OPM to 10.8% in Q1FY27: revenue still grew 25.5% to ₹1623.68 Cr, but EBITDA fell 3.5% to ₹176 Cr and PAT declined 1.0% to ₹79.78 Cr, making margin protection and subsidiary-level drag the key issues to monitor.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,623.68 Cr | 25.5% | N/A |
| EBIT | ₹153 Cr | -7.8% | |
| Net profit | ₹79.78 Cr | -1.0% | |
| EPS | ₹25.23 | 51.9% | |
| EBIT margin | 10.8% |
P&L walk
Consolidated revenue rose 25.5% YoY to ₹1623.68 Cr, but EBITDA declined 3.5% to ₹176 Cr and EBIT declined 7.8% to ₹153 Cr, resulting in PAT falling 1.0% to ₹79.78 Cr despite clean other income of ₹8.68 Cr.
Segments
Standalone EBITDA of ₹161.43 Cr was nearly the entire consolidated EBITDA of ₹176 Cr, while standalone PAT of ₹95.66 Cr exceeded consolidated PAT of ₹79.78 Cr; subsidiaries or consolidation adjustments therefore materially dragged the group result.
Key positives
- Consolidated revenue increased 25.5% YoY to ₹1623.68 Cr, maintaining double-digit execution growth.
- Standalone EBITDA rose 47.8% YoY to ₹161.43 Cr on 26.8% revenue growth, with standalone EBIT up 48.5% to ₹140.99 Cr.
- Standalone EPS rose 92.1% to ₹30.26, tracking standalone PAT growth of 92.1%.
Key concerns
- Consolidated EBITDA declined 3.5% to ₹176 Cr despite 25.5% revenue growth, and EBITDA margin was 10.8% versus 13% in Q1FY26.
- Consolidated PAT declined 1.0% to ₹79.78 Cr while standalone PAT rose 92.1% to ₹95.66 Cr, indicating a material subsidiary or consolidation drag.
- Standalone other income of ₹31.18 Cr represented 25.8% of PBT, reducing the quality of the 92.1% standalone PAT growth.
Research and educational content only. Not investment advice.