Texmaco Infrast. Q2 FY27 Results (NSE: TEXINFRA)
Signal: Revenue declined
The read
The sequential recovery is not an operating inflection: consolidated revenue rose 32.1% QoQ to ₹477.25 lakh, but remained 8.7% below last year and ₹982.93 lakh of other income drove PBT of ₹768.61 lakh; Mini Hydro's turnaround to ₹61.21 lakh helps, yet earnings quality remains weak.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹4.77 Cr | -8.7% | +32.1% |
| Net profit | ₹5.77 Cr | -2.9% | |
| EPS | ₹0.45 | -4.3% | |
| EBIT margin | N/A |
P&L walk
Revenue was ₹477.25 lakh, -8.7% YoY and +32.1% QoQ; operating costs remained heavy, while ₹982.93 lakh of other income lifted PBT to ₹768.61 lakh and PAT attributable to owners to ₹577.46 lakh, -2.9% YoY.
Segments
Real Estate was the main operating contributor with ₹185.72 lakh revenue and ₹263.58 lakh segment result, while Mini Hydro recovered to ₹61.21 lakh result from a ₹61.38 lakh loss in Q1; the consolidated result was nevertheless dominated by ₹425.29 lakh of Other-Unallocated segment result.
Key positives
- Consolidated revenue recovered to ₹477.25 lakh, up 32.1% QoQ from ₹361.19 lakh.
- Mini Hydro moved from a ₹61.38 lakh segment loss in Q1 to a ₹61.21 lakh segment profit in Q2.
- H1FY27 operating cash flow was ₹1,119.60 lakh, up from ₹735.85 lakh in H1FY26.
- PPE rose to ₹6,025.40 lakh and CWIP to ₹1,119.11 lakh, with depreciation rising 33.7% YoY to ₹66.08 lakh, indicating capex is entering the asset base.
Key concerns
- Revenue declined 8.7% YoY to ₹477.25 lakh, and employee cost rose 11.6% YoY to ₹326.43 lakh.
- Other income of ₹982.93 lakh was more than twice operating revenue and drove most of the ₹768.61 lakh PBT.
- Owner PAT declined 2.9% YoY to ₹577.46 lakh despite the 5.1% increase in other income.
- Standalone and consolidated earnings remain similarly dependent on non-operating income, limiting the visibility of recurring operating profitability.
Research and educational content only. Not investment advice.