TIL Q1 FY27 Results (NSE: TIL)
Signal: Loss narrowed
The read
The business has inflected from a loss-making standalone recovery to positive consolidated EBITDA, with EBITDA of ₹732 lakh and margin of 6.2% versus ₹105 lakh and approximately 1.7% in Q1FY26, but the trajectory is acquisition-dependent: the new gas-compressor segment contributed ₹233 lakh profit while material handling still lost ₹996 lakh, and finance costs of ₹1,167 lakh kept PAT at a ₹615 lakh loss.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹117.13 Cr | 86.2% | +7.6% |
| EBIT | ₹4.78 Cr | N/A | |
| Net profit | ₹-6.15 Cr | 1.1% | |
| EPS | ₹-0.69 | 25.8% | |
| EBIT margin | 6.2% |
P&L walk
Consolidated revenue increased to ₹11,713 lakh, +86.2% YoY and +7.6% QoQ, driven by the newly consolidated gas-compressor segment; gross margin expanded to 44.1% from 32.3%, EBITDA margin reached 6.2%, but finance costs of ₹1,167 lakh and the ₹42 lakh exceptional item left PAT at a ₹615 lakh loss.
Segments
The newly consolidated gas-compressor segment contributed ₹3,852 lakh of revenue and ₹233 lakh of profit, while the legacy material-handling segment generated ₹7,861 lakh but a ₹996 lakh loss; this segment mix explains why consolidated EBITDA turned positive while the parent remained loss-making.
Key positives
- Consolidated revenue rose 86.2% YoY to ₹11,713 lakh, with ₹3,852 lakh contributed by the newly acquired gas-compressor subsidiary.
- Consolidated EBITDA increased 597.1% YoY to ₹732 lakh and EBITDA margin reached 6.2%, up from approximately 1.7% in Q1FY26.
- Gross margin expanded to 44.1% from 32.3% YoY as raw material, purchase and inventory costs declined to 55.9% of revenue from 67.6%.
- Gas-compressor operations generated ₹233 lakh of segment profit on ₹3,852 lakh revenue in their first consolidated quarter.
Key concerns
- The core material-handling segment remained loss-making at ₹996 lakh despite ₹7,861 lakh revenue, so consolidated profitability currently depends on the newly acquired business.
- Finance costs of ₹1,167 lakh exceeded consolidated EBITDA of ₹732 lakh, leaving the group with a ₹615 lakh PAT loss.
- Standalone revenue declined 27.8% QoQ to ₹7,861 lakh and standalone PAT remained a ₹716 lakh loss.
- Paid-up equity capital increased from ₹7,035 lakh to ₹7,942 lakh after the right issue, limiting per-share recovery despite the lower consolidated loss.
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