Salasar Techno: consol PAT -42% YoY to ₹5.1 Cr as revenue dips 1.5%, margins narrow

Salasar Techno Engineering's consolidated Q1 FY27 (quarter ended June 30, 2026) revenue came in at ₹295.54 Cr, down 1.5% YoY from ₹300.17 Cr and down 33.5% QoQ from ₹444.65 Cr — the QoQ drop reflects Q4 being the seasonally heaviest execution quarter for EPC/steel-structure orders. Consolidated PAT (total, including non-controlling interest) fell 41.5% YoY to ₹5.14 Cr (₹4.99 Cr attributable to owners) from ₹8.80 Cr a year ago, though it marks a turnaround from the ₹13.67 Cr net loss booked in Q4 FY26. On a standalone basis the company posted PAT of ₹4.78 Cr on revenue of ₹290.77 Cr, broadly tracking the consolidated trend — no material standalone-consolidated divergence this quarter. Margins compressed YoY: operating margin (EBITDA/revenue) came in at 7.42%, versus 9.98% in Q1 FY26, though sharply better than the 3.15% seen in the loss-making Q4 FY26; net margin was 1.72% versus 2.91% a year ago. The squeeze traces to finance costs, which rose 10.7% YoY to ₹15.24 Cr, and segment mix — the EPC segment result flipped to a ₹1.97 Cr profit (from a ₹16.85 Cr loss in Q4 FY26) but is down from ₹9.56 Cr a year ago, while Steel Structures held up better, up 5.1% YoY to ₹21.43 Cr. Management's outlook, per recent press reports (not in the filing itself), targets ~20% FY27 revenue growth to ₹1,800 Cr on the back of a reported ~₹2,500 Cr order book; Q1's run-rate of ₹295.5 Cr is well behind the pace needed to hit that number, making the guidance a 'missed' read one quarter in — though a single quarter isn't necessarily representative given execution seasonality visible in the Q4-vs-Q1 swing. No Q1-specific street PAT/revenue estimates were found; the only available analyst reference points to 15-20% PAT growth expected for FY27 as a whole. The filing itself carries no separate management commentary or press release beyond the standard board-outcome letter and the merger-completion note.