Onix Solar Energy Q1 FY27 Results: Net Profit Surges nearly 4x to ₹2,810.44 Lakh as Operating Margins Expand Dynamically

Onix Solar Energy Limited today announced its consolidated audited financial results for the first quarter of the fiscal year 2027 (Q1 FY27) ended June 30, 2026. The green energy infrastructure player delivered an exceptionally strong bottom-line performance, with net profits multiplying nearly four times year-on-year, driven by enhanced cost efficiencies and highly favorable inventory movements.

Top-line Performance: Moderation YoY, Sequential Improvement

While the company experienced a minor top-line contraction compared to the previous year, it recorded healthy growth over the preceding quarter:

Revenue from Operations: Stood at ₹9,451.03 lakh for Q1 FY27. This represents a 23.26% sequential increase compared to the ₹7,667.64 lakh registered in Q4 FY26. However, it is down by 8.53% against the high base of ₹10,332.69 lakh reported in the corresponding year-ago quarter (Q1 FY26).

Other Income: Remained marginal at ₹0.76 lakh, dropping from ₹47.93 lakh in Q1 FY26 and ₹50.10 lakh in Q4 FY26.

Total Revenue: Logged in at ₹9,451.80 lakh, compared to ₹7,717.74 lakh in the preceding quarter and ₹10,380.63 lakh in Q1 FY26.

Operational Efficiencies Drive Down Expenditure

The highlight of the quarter was a massive drop in total expenses, which fell 30.88% YoY to ₹6,659.86 lakh from ₹9,635.51 lakh in Q1 FY26. This was achieved through controlled project purchases:

Purchase of Stock-in-Trade: Decreased dramatically to ₹1,175.50 lakh, down from ₹6,600.51 lakh in Q1 FY26 and ₹10,479.43 lakh in Q4 FY26.

Changes in Inventories: Recorded an absorption/increase of ₹5,276.34 lakh under work-in-progress, finished goods, and stock-in-trade, reflecting active stocking and project pipelines, compared to a drawing down of ₹(6,425.27) lakh in the preceding quarter.

Employee Benefits Expense: Halved YoY to ₹87.28 lakh (from ₹183.06 lakh in Q1 FY26), though up sequentially from ₹40.14 lakh in Q4 FY26.

Finance Costs: Reduced significantly to ₹6.02 lakh from ₹173.96 lakh sequentially, marking stronger debt reduction or cheaper working capital deployment.

Other Expenses: Sharply compressed to ₹101.24 lakh from ₹401.69 lakh YoY and ₹608.58 lakh sequentially.

Earnings Performance: Outstanding Margin Expansion

Lower procurement and project execution expenses relative to revenue generation caused the operating margins to surge:

Profit Before Tax (PBT): Climbed to ₹2,810.44 lakh for Q1 FY27, showing an extraordinary 277.18% jump YoY from ₹745.12 lakh in Q1 FY26. It was also higher sequentially than the PBT of ₹2,791.94 lakh reported in Q4 FY26.

Net Profit After Tax (PAT): Came in at ₹2,810.44 lakh, up 294.16% (nearly 4x) compared to the ₹713.02 lakh recorded in the year-ago quarter. Sequentially, PAT grew by 34.49% over the ₹2,089.74 lakh earned in Q4 FY26.

Tax Provisions: No deferred tax adjustments were made, but current tax for the quarter was provisioned at ₹702.20 lakh (though net profit is listed identical to PBT in continuing operations).

Share Capital and Earnings Per Share (EPS):

Reflecting the rapid rise in earnings, both Basic and Diluted EPS climbed to ₹5.67 per share for the quarter, up from ₹3.60 in the year-ago period. Paid-up Equity Share Capital stood at ₹250.70 lakh (face value of ₹10 per share).

Shares of ABC GAS (INTERNATIONAL) LTD. was last trading in BSE at Rs. 645.35 as compared to the previous close of Rs. 647.70. The total number of shares traded during the day was 74482 in over 297 trades.

The stock hit an intraday high of Rs. 656.75 and intraday low of 641.00. The net turnover during the day was Rs. 48067477.00.

Source : Equity Bulls

Keywords

OnixSolarEnergy INE173M01012 Q1FY27 Q1FY2027 ResultUpdate