Texmaco Infrast. Q1 FY27 Results (NSE: TEXINFRA)
Signal: Revenue declined
The read
Profit before tax is entirely dependent on other income (248% of PBT). Operating segments (real estate, hydro) are near break-even. PAT declined 55.5% YoY as other income shrank from a high base. The earnings quality flag from the filing underscores that core operations are not generating profit.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3.61 Cr | -10.9% | -79.3% |
| EBIT | ₹2.38 Cr | -52.6% | |
| Net profit | ₹1.5 Cr | -55.5% | |
| EPS | ₹0.13 | -50.0% | |
| EBIT margin | 82% |
P&L walk
Profit before tax of ₹1.90 Cr is entirely non-operating — other income of ₹4.72 Cr dwarfs revenue of ₹3.61 Cr and offsets operating losses; revenue declined 10.9% YoY led by real estate.
Segments
Real Estate segment contributes 51% of consolidated revenue but its PBIT of ₹3.34 Cr is dwarfed by unallocated corporate income; Mini Hydro remains loss-making (PBIT -₹0.61 Cr).
Key concerns
- Earnings completely dependent on other income (248% of PBT) — core operating segments are loss-making or negligible.
- Consolidated revenue fell 10.9% YoY; real estate and hydro segments declined.
- PAT down 55.5% YoY; EPS down 50.0% — no operational cushion.
Earnings quality: includes non-operating other income
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