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The Quarter story
The two most recent quarterly results, compared side-by-side.
Revenue and profits have rebounded strongly after a weak Q2 FY26, driven by crane rentals and renewables, but rising debt and margin compression need monitoring.
Revenue grew from ₹1.43 Cr in Q2 FY26 to ₹380 Cr in Q1 FY27 — strong top-line recovery after a mid-year dip
EBITDA margin slipped from 40.6% in Q4 FY26 to 35% in Q1 FY27 — pricing and cost pressures squeezing profitability
Crane fleet expanded from 33 units in Q1 FY26 to 492 units in Q1 FY27 — larger capacity to capture rental demand
Debt to equity ratio rose from 0.33x in Q1 FY26 to 0.54x in Q1 FY27 — higher leverage funding fleet and project expansion
Renewables E&C revenue rose from ₹106 Cr in Q1 FY26 to ₹140 Cr in Q1 FY27 — steady green energy project execution
Operating expenses climbed from ₹16 Cr in Q1 FY26 to ₹222 Cr in Q1 FY27 — scaling costs outpacing recent revenue growth
Cash profit rebounded from ₹62 Cr in Q3 FY26 to ₹104 Cr in Q1 FY27 — consistent liquidity to fund operations
Finance costs increased from ₹0.6 Cr in Q2 FY26 to ₹13 Cr in Q1 FY27 — rising interest burden from new borrowings
Order book grew from ₹767 Cr in Q1 FY26 to ₹1,253 Cr in Q1 FY27 — active project delivery driving future income
Project EPC revenue fell from ₹14 Cr in Q4 FY26 to ₹11 Cr in Q1 FY27 — slower engineering contract wins in the latest quarter