Anjani Cement Q1 FY27: consolidated loss widens to ₹9.8 Cr as revenue slumps 36% YoY
PAT -184.1% YoY · revenue -35.7% · margins compressing
₹89.76 Cr
-35.7% YoY
₹-9.8 Cr
-184.1% YoY
-10.9%
-8.4pp YoY
₹-2.41
Anjani Portland Cement's consolidated (primary basis) numbers deteriorated across the board in Q1 FY27: revenue fell 35.7% YoY to ₹89.76 Cr (₹139.53 Cr in Q1 FY26) and 27.6% QoQ (₹124.04 Cr in Q4 FY26), while the group swung to a ₹9.80 Cr net loss — deeper than the ₹3.45 Cr loss a year ago and a reversal from the ₹1.65 Cr profit booked last quarter. There is no analyst consensus or brokerage preview available for this micro-cap (confirmed via web search — Simply Wall St and TipRanks show no consensus estimates for APCL), so the print cannot be graded against Street numbers; management has not issued any formal guidance either, so there is no outlook to check the quarter against.
Q1 FY-2027 vs prior quarters
The damage sits almost entirely on the operating line: OPM (EBITDA margin) collapsed to just 1.52% from 8.92% YoY and 10.96% QoQ, even as revenue fell, meaning costs did not scale down proportionately with volumes. Power & Fuel remained the largest expense line at ₹45.01 Cr (50% of consolidated revenue) versus ₹63.49 Cr on a much larger revenue base a year ago, so the cost structure is not flexing with the steep volume decline. NPM came in at -10.92% versus -2.47% YoY and +1.32% QoQ, confirming margin compression rather than a one-off hit — there are no exceptional items in this quarter's numbers.
The stock went into the print at ₹103.68, down 0.4% over the past month of trading.
What the summary numbers don't show
Subsidiary Bhavya Cements (51.09% held) posted ₹51.47 Cr revenue and a ₹4.31 Cr net loss this quarter, per the auditor's review note
Standalone (parent-only) results tell a materially different and starker story: standalone revenue fell 63.1% YoY to ₹42.73 Cr from ₹115.83 Cr, far steeper than the consolidated 35.7% YoY decline, and standalone swung from a ₹2.69 Cr profit a year ago to a ₹3.73 Cr loss this quarter (EPS -₹1.27 vs +₹0.92). The gap between standalone and consolidated revenue trends is unusually wide and coincides with the Board's June 11, 2026 approval to rebrand from Anjani to Chettinad Cement — a shift in how trading/distribution volumes are booked between the standalone entity and group companies (including holding company Chettinad Cement Corporation) is a plausible explanation, though the filing does not state this explicitly.
W1
Whether the standalone-vs-consolidated revenue gap (63.1% vs 35.7% YoY decline) persists in Q2 FY27 or normalizes as the Chettinad rebrand transition settles
W2
OPM trajectory — recovery from 1.52% toward the 8.92-10.96% band seen in the prior two quarters, with Power & Fuel (₹45.01 Cr this quarter) as the line to watch
W3
Subsidiary Bhavya Cements' contribution — it swung to a ₹4.31 Cr net loss this quarter; track whether NCI losses (₹2.72 Cr this quarter) persist
Both statements clean/typed (no scan issues). PDF's printed 'Total tax Expense' row is column-shifted vs the 'Deferred tax' row in both statements — tax figures here are derived from PBT minus Net Profit (self-check), which reproduces the deferred-tax line exactly and also reconciles the consol 'Owners/NCI' sub-total row. No exceptional items in the current, QoQ or YoY quarterly columns (the ₹79.96 Cr standalone exceptional loss sits only in the FY26 full-year column), so no adjusted-growth calc needed. Consol subsidiary Bhavya Cements (51.09% held) posted ₹51.47 Cr revenue and a ₹4.31 Cr net loss this quarter per the auditor's note.