Singer India Q1 FY27 Results (NSE: SINGERIND)
Signal: Loss reversed
The read
The operating inflection is concentrated in sewing machines: revenue increased 57.0% YoY to ₹14,455 lakh and operating EBITDA turned positive at ₹360 lakh from a ₹374 lakh loss, but the 2.5% EBITDA margin remains modest, domestic appliances continued to lose ₹310 lakh at the segment level, and ₹192 lakh of other income supported ₹404 lakh of PBT.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹144.55 Cr | +57.0% | -13.1% |
| EBIT | ₹2.28 Cr | NM (turned positive from a ₹452 lakh loss) | |
| Net profit | ₹3 Cr | NM (turned profitable from a ₹236 lakh loss) | |
| EPS | ₹0.48 | NM (turned positive from a ₹0.38 loss per share) | |
| EBIT margin | 1.58% |
P&L walk
Standalone revenue increased to ₹14,455 lakh, +57.0% YoY, but operating EBIT was only ₹228 lakh, with ₹192 lakh of other income lifting PBT to ₹404 lakh and PAT to ₹300 lakh; sewing machines drove the recovery while domestic appliances remained loss-making.
Segments
Sewing machines and related accessories drove the group recovery, with revenue up 73.0% YoY to ₹11,504 lakh and segment result up 168.8% to ₹1,274 lakh, while domestic appliances remained a ₹310 lakh loss despite revenue growth of 15.0%.
Key positives
- Sewing-machine revenue increased 73.0% YoY to ₹11,504 lakh and segment result increased 168.8% YoY to ₹1,274 lakh, making it the clear earnings engine.
- Revenue grew 57.0% YoY while employee benefits and other expenses grew 21.0%, supporting operating EBITDA of ₹360 lakh versus a ₹374 lakh loss YoY.
- Total segment assets increased 25.3% YoY to ₹29,032 lakh, while depreciation rose 69.2% to ₹132 lakh, consistent with a growing asset base entering earnings.
Key concerns
- Domestic appliances remained loss-making at ₹310 lakh, worsening from a ₹236 lakh loss YoY, despite revenue rising 15.0% to ₹2,951 lakh.
- Operating EBITDA margin was only 2.5%, down 167bps sequentially from 4.2%, so the profit recovery remains vulnerable to modest execution or mix deterioration.
- Other income of ₹192 lakh represented 47.5% of PBT of ₹404 lakh; reported PAT of ₹300 lakh therefore materially exceeded the ₹228 lakh operating EBIT contribution.
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