Sical Logistics Q1 FY27 Results (NSE: SICALLOG)
Signal: Loss reversed
The read
The operating trajectory remains mixed: consolidated revenue reached ₹13258 lakh, +35.9% YoY, but EBITDA grew only 2.2% and margin was 19.8%, while the ₹2124 lakh PAT was dominated by the ₹1740 lakh land-sale gain; standalone EBITDA actually declined 2.8% despite 61.5% revenue growth, so the earnings inflection is not yet operationally proven.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹132.58 Cr | 35.9% | +26.1% |
| EBIT | ₹17.81 Cr | 17.2% | |
| Net profit | ₹21.24 Cr | N/A | |
| EPS | ₹2.86 | N/A | |
| EBIT margin | 19.8% |
P&L walk
Consolidated revenue increased to ₹13258 lakh, +35.9% YoY and +26.1% QoQ, but EBITDA of ₹2621 lakh grew only +2.2% and margin was 19.8%; lower finance cost and depreciation supported EBIT, while PAT of ₹2124 lakh mainly reflected the ₹1740 lakh exceptional land-sale gain.
Key positives
- Consolidated revenue was ₹13258 lakh, +35.9% YoY and +26.1% QoQ, extending the recovery from ₹9754 lakh in Q1FY26.
- Finance costs declined 16.7% YoY to ₹1274 lakh and depreciation declined 19.7% to ₹840 lakh, supporting EBIT growth of 17.2%.
- Consolidated EBITDA remained positive at ₹2621 lakh with a 19.8% margin, while employee cost rose only 6.0% YoY to ₹636 lakh against 35.9% revenue growth.
Key concerns
- Underlying consolidated profit before the exceptional item was only ₹507 lakh, versus ₹2248 lakh after the ₹1740 lakh land-sale gain.
- Standalone EBITDA declined 2.8% YoY to ₹1518 lakh despite 61.5% revenue growth, and standalone pre-exceptional profit was only ₹95 lakh.
- Consolidated EBITDA margin was 19.8%, but EBITDA growth of 2.2% materially lagged revenue growth of 35.9%, indicating weaker operating conversion.
Earnings quality: includes an exceptional item
Research and educational content only. Not investment advice.