Hirect

Gross Profit Margin recovered from 23.0% in Q3 FY26 to 28.3% in Q1 FY27 — pricing power is back

EBITDA Margin fell from 10.2% in Q4 FY26 to 5.1% in Q1 FY27 — operating profits are under pressure

Railway Transformer revenue mix grew from 50.4% in Q1 FY26 to 65.8% in Q1 FY27 — core segment dominates sales

Employee Expenses jumped from ₹21.4 Cr in Q4 FY26 to ₹40.8 Cr in Q1 FY27 — wage and headcount costs are rising fast

Revenue held at ₹258.4 Cr in Q1 FY27 after peaking at ₹264.0 Cr in Q4 FY26 — top line remains resilient

Other Expenses rose from ₹13.7 Cr in Q4 FY26 to ₹19.2 Cr in Q1 FY27 — operational overheads are squeezing margins

Depreciation climbed from ₹2.7 Cr in Q1 FY26 to ₹4.7 Cr in Q1 FY27 — asset base is expanding

PAT Margin dropped from 6.5% in Q2 FY26 to 3.6% in Q1 FY27 — bottom line is contracting sharply