Q1 FY27 earnings: EEI up 34%, Lumel S.A. up 39%, net cash INR 1.6 bn
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Q1 FY27 consolidated revenue at INR 1,983 mn (up 4.2% YoY), EBITDA at INR 333 mn (up 17.3%), margin 16.8%. PAT at INR 194 mn (down 1.4%). EEI segment grew 34% YoY with EBITDA margin about 24%, beating guidance. Lumel S.A. revenue up 39% YoY at INR 639 mn, EBITDA margin 24%. Standalone India revenue up 25.6% YoY. Lumel Alucast revenue declined 41.2% as planned, at operating breakeven. Net cash INR 1,606 mn. Target: US revenue to INR 100 cr in 2-3 years. Solar inverter business targeting INR 250-300 cr next year. New Nashik facility partially commissioned.
Strong EEI beat raises growth visibility; net debt-free and M&A pipeline support upside.