Sanmit Infra Q1FY27: consolidated PAT +118% YoY to ₹2.05 Cr as margins double

Sanmit Infra Limited reported consolidated Q1 FY27 (quarter ended June 30, 2026) revenue from operations of ₹24.36 Cr, down 39.4% YoY from ₹40.18 Cr and down 24.6% QoQ from ₹32.31 Cr — the YoY/QoQ comparatives being the company's standalone figures since this is the first quarter it has reported consolidated results. Consolidated PAT rose to ₹2.05 Cr, up 117.6% YoY from ₹0.94 Cr and up 24.0% QoQ from ₹1.65 Cr, with basic EPS of ₹1.29 versus ₹0.59 a year ago. On a standalone-only basis (excluding the newly consolidated subsidiary), PAT was ₹1.08 Cr, still up a more modest ~14% YoY even as standalone revenue nearly halved to ₹21.95 Cr from ₹40.18 Cr — showing the profit growth is only partly a consolidation-scope effect and partly genuine margin expansion; the >100-percentage-point gap between standalone and consolidated PAT growth is a material basis divergence worth flagging. The revenue decline and margin expansion both trace to a segment mix shift. Petroleum and related products — a low-margin trading segment — shrank to ₹6.91 Cr (28% of consolidated segment revenue) from ₹28.98 Cr (72% of revenue) a year ago, while microsurfacing and road-repair services grew to ₹6.76 Cr from ₹3.17 Cr, with that segment's PBT jumping to ₹2.40 Cr from just ₹0.06 Cr — a roughly 37x rise that is the single largest driver of this quarter's profit growth. Bitumen emulsion segment revenue rose YoY to ₹10.73 Cr from ₹8.11 Cr, though its segment margin compressed to 7.1% from 15.2% a year ago. Consolidated net profit margin roughly doubled YoY to ~8.4% (standalone 4.9%) from 2.34%, consistent with the shift away from low-margin trading revenue toward higher-margin services. Sanmit Infra carries no analyst coverage or published consensus estimates — no street preview could be found for this micro-cap — so vsStreet is unknown, and management has issued no formal forward guidance, so vsGuidance is unknown as well. Alongside the results, the August 14, 2026 board meeting also approved the appointment of Mrs. Sejal Nilesh Patel as an additional independent director and adopted new Articles of Association. Separately, on July 10, 2026 the company's statutory auditor resigned and SSSS & Associates was appointed as the new auditor along with a director resignation; the Q1 FY27 limited review reports (both standalone and consolidated) are signed by the new auditor with no qualifications noted. No management press release accompanying the results was available in the record. This is the first quarter Sanmit Infra has reported consolidated financials, following its March 2026 acquisition of a 51% stake in Sanmit Truevalue Infraprojects Pvt Ltd, whose operations (largely microsurfacing) began contributing from April 2026. Because the comparative periods in the consolidated statement are standalone figures per the company's own disclosure, readers should treat the headline consolidated YoY/QoQ growth rates as basis-mixed and weight the standalone-only comparison — real profit growth, but far more modest — as the cleaner read of underlying momentum going into Q2.