Unimech Q1 FY27: consol PAT +46% YoY to ₹27.9 Cr, revenue +71% to ₹107.6 Cr, beats street
PAT +45.7% YoY · revenue +70.86% · margins expanding · beat vs street
₹107.62 Cr
+70.86% YoY
₹27.86 Cr
+45.7% YoY
24.24%
-1.5pp YoY
₹5.48
Unimech Aerospace's consolidated Q1 FY27 (quarter ended June 30, 2026) print shows revenue of ₹107.62 Cr, up 70.9% YoY (₹62.99 Cr) and 31.6% QoQ (₹81.80 Cr), with consolidated PAT of ₹27.86 Cr, up 45.7% YoY (₹19.12 Cr) and 6.8% QoQ (₹26.10 Cr). No exceptional or one-off items were disclosed on either side of the comparison, so the reported and underlying growth rates are the same. Both revenue and profit came in well above the ₹85-98 Cr revenue / ₹15-19 Cr PAT consensus range reported by analyst previews ahead of the print, a clear beat on street numbers.
Q1 FY-2027 vs prior quarters
The margin picture is mixed by line. Operating margin (revenue less material, subcontracting, employee and other operating costs) expanded to 36.5% from 31.4% a year ago, in line with management's own FY27 guidance for consolidated EBITDA margins to improve over FY26 (full-year FY26 operating margin was 31.2%). But net profit margin slipped to 24.2% from 25.7% YoY, because other income fell 36% YoY to ₹7.33 Cr (from ₹11.44 Cr) and finance costs nearly doubled to ₹1.94 Cr (from ₹1.15 Cr) — both below the operating line, so they mask the underlying operating improvement in the headline PAT number. Consolidated PAT also carries a ₹13.80 lakh share of loss from associate Dheya Engineering.
The stock went into the print at ₹1,259.8, up 8.8% over the past month of trading.
For context: this is the second-highest quarterly PAT of the last 6 quarters; revenue is at a 6-quarter high.
Management is targeting FY27 revenue to surpass Q4 FY26 levels, driven by continued normalization in aerospace tooling, ramp-up in precision components, execution of nuclear orders, and contributions from Hobel Bellows. Consolidated EBITDA margins are expected to improve compared to FY26, although the initial stages of
— This quarter: beat
The consolidated jump is structural as much as organic: this is the first full quarter with Hobel Bellows Private Limited, Hobel Bellows Co. and new subsidiary Uniflux Renewable Energy inside the Group (all effective April 27, 2026, on a combined ~₹450 Cr acquisition outlay for Hobel Bellows). That explains why standalone tells the opposite story — standalone revenue fell to ₹4.59 Cr from ₹11.71 Cr and standalone PAT fell to ₹2.20 Cr from ₹8.86 Cr YoY, as operating revenue that used to sit on the parent's books now sits with the consolidated subsidiaries. Against management's own prior guidance — that FY27 revenue should surpass Q4 FY26 levels — the company has already cleared that bar within Q1 itself, with consolidated revenue of ₹107.6 Cr against the ₹81.8 Cr Q4 FY26 base. No standalone company press release was available for this result to cross-check against management's own framing.
W1
Whether OPM holds above the 36.5% posted this quarter as the Saudi JV ramps — management flagged a 'slight near-term impact' from its initial stages
W2
Other income and finance-cost trajectory: other income fell 36% YoY to ₹7.33 Cr and finance costs rose to ₹1.94 Cr, the two items diluting NPM despite OPM expansion
W3
QIP execution — pricing, timing and use of the up-to-₹750 Cr raise once shareholders approve it at the August 28, 2026 AGM
Consolidated is primary and diverges sharply from standalone (standalone PAT -75% YoY to Rs2.2 Cr) since Hobel Bellows/Hobel Bellows Co and Uniflux now consolidate at Group level w.e.f. Apr 27, 2026; consolidated PAT nets Rs13.80 lakh share of associate (Dheya) loss; no exceptional items identified; both tables clearly legible with unambiguous column headers.
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