Omax Autos standalone PAT hits ₹11.7 Cr as margins rebound from near-nil YoY

Omax Autos reported standalone revenue of ₹164.94 Cr for Q2 FY27 (quarter ended September 30, 2026), up 86.8% year-on-year from ₹88.28 Cr and up 35.2% sequentially from ₹121.99 Cr in Q1 FY27. Standalone PAT came in at ₹11.70 Cr against just ₹0.33 Cr in the year-ago quarter — a swing off a near-breakeven base rather than a conventional growth print — and up 10.3% from ₹10.60 Cr in Q1 FY27. EPS was ₹5.47 versus ₹0.16 a year earlier and ₹4.96 last quarter. There were no exceptional items in the current quarter or either comparison period, so the YoY move is a genuine operating recovery rather than a one-off. Net profit margin recovered to 6.73% of total income from just 0.35% a year ago, and EBITDA margin (PBT plus finance cost and depreciation, less other income, over revenue) rose to 9.45% from 5.87% YoY. Both margins, however, compressed sequentially — NPM was 8.16% and EBITDA margin 11.05% in Q1 FY27 — even as revenue grew 35% QoQ. The driver is cost of material consumed, which rose to 81.6% of revenue this quarter from 78.5% in Q1 FY27, eating into the incremental volume. Finance costs fell to ₹3.39 Cr from ₹4.25 Cr a year ago as the company paid down debt — current borrowings stood at ₹19.48 Cr at quarter-end versus ₹27.85 Cr at FY26-end. There is no management guidance or prior concall commentary on record for this name, and a web search turned up no analyst or street consensus estimates for Q2 FY27, consistent with the stock's small-cap, thinly-covered profile — vsGuidance and vsStreet are both unknown on this print. No management press release accompanied this filing, so there is no company framing to reconcile against the numbers. The company runs a single reportable segment (sheet metal components and assemblies) and has no subsidiary, associate or JV, so standalone is the sole set of figures. The only other corporate action in the quarter tied to the P&L was the ₹2.5/share dividend the board declared on July 24 alongside Q1 FY27 results, with ₹10.77 Cr paid out during the half year per the cash flow statement. Going into Q3 FY27, the key question is whether the sequential margin compression — tied to the richer material-cost ratio — persists, and whether the 35% QoQ revenue jump holds as a new run-rate or partly reflects a pull-forward.