Vidya Wires Q1 FY27 Results (NSE: VIDYAWIRES)
Signal: Growth decelerated
The read
The key inflection is sequential: revenue fell 8.2% QoQ to ₹549.71 Cr and EBITDA margin slipped 40bps QoQ to 4.6% after remaining around 5.0% in Q1FY26 and Q4FY26, while PAT still grew 42.8% YoY to ₹17.14 Cr; the 6.6% EPS growth versus 42.8% PAT growth makes share-count or minority-interest effects the main earnings-quality issue to monitor.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹549.71 Cr | 33.4% | -8.2% |
| EBIT | ₹24 Cr | N/A | |
| Net profit | ₹17.14 Cr | 42.8% | |
| EPS | ₹0.81 | 6.6% | |
| EBIT margin | 4.6% |
P&L walk
Consolidated revenue was ₹549.71 Cr, up 33.4% YoY but down 8.2% QoQ, while EBITDA was ₹25.22 Cr and EBITDA margin fell to 4.6% from 5.0% in the recent comparable periods; PAT rose to ₹17.14 Cr, up 42.8% YoY, with other income of ₹3.09 Cr remaining below 20% of PBT.
Segments
No segment table is disclosed; the consolidated result includes a ₹56.30 Cr revenue contribution and ₹0.47 Cr PAT contribution above standalone, indicating a modest positive subsidiary contribution.
Key positives
- Consolidated revenue reached ₹549.71 Cr, up 33.4% YoY, extending the company’s multi-year expansion trajectory despite an 8.2% QoQ decline.
- Consolidated PAT rose 42.8% YoY to ₹17.14 Cr, faster than revenue growth of 33.4%, even as EBITDA margin contracted 40bps to 4.6%.
- The wholly-owned subsidiary contributed ₹56.30 Cr of incremental consolidated revenue over standalone revenue and ₹0.47 Cr of incremental PAT.
Key concerns
- EBITDA margin declined 40bps YoY and QoQ to 4.6% from the recent 5.0% level, with the filing not disclosing the underlying volume, mix, pricing or input-cost driver.
- EPS rose only 6.6% YoY to ₹0.81 while PAT rose 42.8% to ₹17.14 Cr, a material divergence requiring reconciliation of share count and minority interest.
- The company approved a ₹125,00,00,000 investment in 1% non-convertible redeemable preference shares of its wholly-owned subsidiary, creating a significant capital-allocation commitment relative to quarterly PAT of ₹17.14 Cr.
Research and educational content only. Not investment advice.