Wonder Electric. Q1 FY27 Results (NSE: WEL)
Signal: Growth reaccelerated
The read
The key inflection is the return to 50.9% YoY revenue growth after four consecutive quarters of contraction, with EBITDA up 77.7% and margin up 59bps YoY to 3.9%; however, the 163bps QoQ margin decline from 5.53% shows the recovery is not yet consistently scaling, and the filing discloses no operating driver.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹233.56 Cr | 50.9% | -7.4% |
| EBIT | ₹6.92 Cr | 104.1% | |
| Net profit | ₹3.97 Cr | 257.7% | |
| EPS | ₹0.3 | 275.0% | |
| EBIT margin | 3.9% |
P&L walk
Consolidated revenue was ₹23355.56 lakh, +50.9% YoY but -7.4% QoQ; EBITDA increased to ₹908 lakh, +77.7% YoY, while EBITDA margin improved 59bps YoY to 3.9% but contracted 163bps QoQ. PAT rose to ₹397.04 lakh, +257.7% YoY, with no material other-income contribution disclosed.
Segments
No segment results table is disclosed; standalone PAT of ₹403.66 lakh exceeded consolidated PAT of ₹397.04 lakh by ₹6.62 lakh, indicating negligible subsidiary drag.
Key positives
- Consolidated revenue of ₹23355.56 lakh grew 50.9% YoY, reversing the prior four-quarter contraction streak.
- EBITDA of ₹908 lakh grew 77.7% YoY versus revenue growth of 50.9%, supporting a 59bps YoY margin expansion to 3.9%.
- PAT rose 257.7% YoY to ₹397.04 lakh with other income at ₹0 and earnings quality classified clean.
- The subsidiary's PCB-card manufacturing commencement adds a backward-integration initiative, although no financial contribution or target is disclosed.
Key concerns
- EBITDA margin fell 163bps QoQ to 3.9% from 5.53%, despite the YoY recovery, indicating uneven operating conversion.
- Revenue declined 7.4% QoQ to ₹23355.56 lakh, so the YoY rebound has not yet translated into sequential acceleration.
- The 3.9% EBITDA margin remains low for a manufacturing business, and the filing does not disclose raw-material, volume, capacity-utilisation, or product-mix drivers.
- Three-year sales CAGR is -10.3%, leaving the current 50.9% YoY rebound to be established as a durable recovery.
Research and educational content only. Not investment advice.