Unimech Aero. Q2 FY27 Results (NSE: UNIMECH)
Signal: Growth decelerated
The read
The operating trajectory improved sharply sequentially, with standalone revenue at ₹1,695.36 lakh versus ₹459.06 lakh in Q1FY27 and derived EBITDA margin at 38.25% versus 25.7%; however, the quarter's ₹852.59 lakh PAT was not purely operational because ₹709.70 lakh of other income and lower tax expense materially supported earnings, while six-month operating cash flow was negative ₹2,299.14 lakh.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹16.95 Cr | +12.7% | +269.3% |
| Net profit | ₹8.53 Cr | +43.6% | |
| EPS | ₹1.68 | +43.6% |
P&L walk
The supplied filing extract contains the consolidated balance sheet and review report but not the consolidated P&L table; consolidated quarter-level revenue, EBITDA and PAT are therefore not safely extractable.
Segments
The company reports one operating segment covering tools, flexible engineering products and components for civil, defence aerospace and general engineering, so no internal segment driver is disclosed.
Key positives
- Standalone Q2 revenue increased 12.7% YoY to ₹1,695.36 lakh after the weak Q1FY27 base of ₹459.06 lakh.
- Derived EBITDA margin expanded to 38.25% from 7.15% YoY as material and inventory-related costs fell relative to revenue.
- PAT rose 43.6% YoY to ₹852.59 lakh and basic EPS tracked the increase at ₹1.68 versus ₹1.17.
- PPE plus CWIP increased to ₹6,010.67 lakh from ₹5,474.58 lakh, consistent with continued capacity investment.
Key concerns
- Other income of ₹709.70 lakh represented 67.9% of standalone PBT of ₹1,045.23 lakh, so reported PAT of ₹852.59 lakh materially exceeded what operating earnings alone would imply.
- Six-month operating cash flow was negative ₹2,299.14 lakh versus negative ₹1,266.49 lakh a year earlier, despite six-month PAT of ₹1,072.74 lakh.
- Six-month revenue declined 19.5% YoY to ₹2,154.42 lakh, so the Q2 rebound has not yet restored the first-half revenue base.
- Consolidated P&L figures are not present in the supplied extract, preventing a reliable assessment of group-level earnings after subsidiaries and associate losses.
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