Annu Projects turns ₹1.27 Cr profit in maiden listed quarter, versus ₹6.85 Cr loss a year ago

In its first result since listing on NSE/BSE on September 2, 2026, EPC contractor Annu Projects reported standalone revenue from operations of ₹19.91 Cr and PAT of ₹1.27 Cr (EPS ₹0.27, not annualised) for the quarter ended June 30, 2026. That compares with a ₹6.85 Cr loss on just ₹2.81 Cr of revenue in the year-ago quarter — a turnaround, but that prior-year figure is an unaudited, unreviewed management estimate (Note 3) drawn from a very thin base, so the ~625% YoY revenue jump reflects the lumpiness of percentage-of-completion EPC accounting more than a repeatable growth rate; the quarter's ₹10.08 Cr swing in the "change in inventory" line (a credit, versus a ₹13.52 Cr charge for full-year FY26) is consistent with that pattern. No quarter-on-quarter comparison is possible since the company was not required to report quarterly results before listing — the only other comparative on file is full-year FY26 (revenue ₹241.25 Cr, PAT ₹33.03 Cr).

Margins were modest: PAT came in at ~6.2% of total revenue (₹20.37 Cr) and pre-tax margin at ~11%, with total expenses (₹18.13 Cr) absorbing ₹1.29 Cr of finance costs and ₹0.99 Cr of depreciation — costs that will likely step up further given the ₹175.06 Cr IPO capital raised and paid-up equity now at ₹47.81 Cr (4.78 Cr shares). There is no formal management guidance on record and no press release accompanying this filing, so neither can be checked against the print. Annu Projects also carries no analyst coverage yet (confirmed via search — the stock listed barely three weeks ago), so there is no street estimate to benchmark against. The only concurrent operational data point is a ₹5.04 Cr order win from East Central Railway announced September 22, 2026 — small next to the FY26 revenue base but the first disclosed order flow since listing.