Systematix Corp. Q1 FY27 Results (NSE: SYSTMTXC)
Signal: Slipped to loss
The read
The key inflection is a sharp revenue rebound to ₹5626.00 lakh, up 120.0% YoY and well above the recent Q4FY26 ₹24 crore revenue level, but operating conversion has deteriorated to a 0.7% EBITDA margin from the prior-series Q1FY26 40% OPM and PAT remains a ₹489.39 lakh loss; the group recovery is therefore volume or activity-led without earnings quality yet.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹56.26 Cr | +120.0% | N/A |
| EBIT | ₹-1.79 Cr | N/A | |
| Net profit | ₹-4.89 Cr | -146.8% | |
| EPS | ₹-0.36 | -146.8% | |
| EBIT margin | 0.7% |
P&L walk
Consolidated revenue was ₹5626.00 lakh, up 120.0% YoY, but EBITDA was only ₹41.00 lakh and EBIT was negative at ₹179.00 lakh; finance cost of ₹128.41 lakh and a ₹30.58 lakh exceptional labour-code impact contributed to the ₹489.39 lakh PAT loss.
Segments
Equity, Commodity, Currency and other Transactional Services generated ₹5086.07 lakh, or 89.3% of segment revenue, and is the clear consolidated revenue driver; Merchant Banking contributed ₹382.03 lakh and Financing ₹449.64 lakh, while segment PBIT figures were not visible in the supplied filing extract.
Key positives
- Consolidated revenue was ₹5626.00 lakh, up 120.0% YoY, with Equity, Commodity, Currency and other Transactional Services contributing ₹5086.07 lakh of segment revenue.
- The consolidated loss narrowed sequentially from ₹1179.16 lakh in Q4FY26 to ₹489.38 lakh in Q1FY27, while EPS improved from ₹-0.86 to ₹-0.36.
- The group invested ₹3500.072 lakh in its wholly owned subsidiary through a rights issue, supporting subsidiary capitalisation, although near-term returns are not demonstrated.
Key concerns
- Revenue growth did not translate into profits: EBITDA was only ₹41.00 lakh, a 0.7% margin, and EBIT was negative at ₹179.00 lakh.
- Standalone EBITDA was a ₹493.00 lakh loss on ₹358.00 lakh of revenue and standalone PAT was a ₹618.90 lakh loss, showing that the parent remains dependent on subsidiary earnings.
- Employee benefits expense was ₹2056.94 lakh and finance cost was ₹128.41 lakh against consolidated EBITDA of only ₹41.00 lakh, leaving limited operating-cost coverage.
Research and educational content only. Not investment advice.