Bajaj Hindusthan Sugar Limited Earnings Summary — Q1 FY2027
Bajaj Hindusthan Sugar Reports Loss in Q1 FY2027 Amid Seasonal Variations and Debt Restructuring
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue declined 32.5% sequentially in Q1 FY2027.
- Revenue of ₹1,126 Cr is 9.8% lower year-on-year.
- Revenue has compounded at -20.2% annualised over the last 10 quarters.
- Net profit of ₹-185 Cr is 6.3% below the same quarter last year.
- Profit growth is outpacing revenue growth, pointing to positive operating leverage.
- Operating margin stands at -10.6% in Q1 FY2027.
- Operating margin compressed by 849 bps year-on-year.
- Over the last two years operating margin has contracted by 1263 bps.
- PBT margin is -16.4%.
- Expenses grew -2.3% against revenue growth of -9.8%.
- Operating profit of ₹-120 Cr is 346.1% lower year-on-year.
- Operating leverage has been under pressure recently.
- 1 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 14/100 (Weak) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Softening | 1,126 | 1,669 | 1,380 | 1,157 | 1,248 | 1,554 | 1,476 | 1,160 | 1,386 | 1,870 |
| Expenses | Stable | 1,246 | 1,295 | 1,307 | 1,211 | 1,275 | 1,268 | 1,500 | 1,159 | 1,358 | 1,701 |
| Operating Profit | Volatile | -120 | 373 | 73 | -54 | -27 | 286 | -24 | 1 | 28 | 170 |
| Operating Margin | Volatile | -10.6% | 22.4% | 5.3% | -4.7% | -2.1% | 18.4% | -1.7% | 0.1% | 2.0% | 9.1% |
| Other Income | Volatile | 2 | -3 | 3 | 5 | 3 | 11 | 0 | 3 | -6 | 5 |
| Interest | Volatile | 11 | 18 | 7 | 3 | 6 | 24 | 24 | 26 | 29 | 37 |
| Depreciation | Stable | 56 | 53 | 54 | 54 | 54 | 53 | 54 | 54 | 54 | 55 |
| Profit Before Tax | Volatile | -185 | 299 | 15 | -106 | -83 | 220 | -102 | -76 | -62 | 82 |
| Tax | Volatile | -0 | -92 | -0 | -0 | 91 | -0 | -0 | -0 | 5 | -8 |
| Net Profit | Volatile | -185 | 391 | 15 | -105 | -174 | 220 | -102 | -75 | -66 | 91 |
| Net Margin | Volatile | -16.4% | 23.4% | 1.1% | -9.1% | -13.9% | 14.2% | -6.9% | -6.5% | -4.8% | 4.8% |
Key Takeaways
- Revenue declined by 9.8% YoY to ₹1,125.97 crore, primarily driven by seasonal lower crushing and reduced distillery segment performance.
- The company reported a consolidated net loss of ₹184.70 crore, widening slightly from the ₹174.00 crore loss in the same quarter last year.
- The Sugar segment remained the primary revenue driver but reported a loss before interest and tax of ₹145.75 crore.
- The company completed the issuance of equity shares and CCPS to lenders under the approved Resolution Plan and Framework Agreement.
- Management noted a moratorium on OCD repayments until March 2031, which is expected to support liquidity.
- The company is pursuing a legal claim of approximately ₹1,978 crore under the Sugar Industry Promotion Policy, 2004.
- Auditors issued an 'Emphasis of Matter' regarding the recovery of ₹2,593.33 crore exposure in subsidiaries and unrecognized interest income of ₹28.03 crore.
Management Guidance
The company operates in a seasonal industry, and management cautioned that quarterly results are not necessarily indicative of full financial year performance. Liquidity and operations are expected to be supported by the moratorium on debt repayments and the potential realization of substantial policy claims.
Sentiment Shift
Deteriorating
While the company has emerged from debt restructuring, the immediate quarterly performance shows a return to significant losses and declining revenues across major segments compared to both the preceding quarter and the previous year's first quarter.
Outlook
The company’s stability depends heavily on the successful recovery of subsidiary loans, favorable court outcomes regarding government incentives, and continued support from the debt moratorium. Operationally, results remain highly volatile and tied to sugar price cycles.
From the Annual Report (Key Quotes)
“The Company operates in a seasonal industry and, accordingly, its performance may vary from quarter to quarter.”
“Repayment of the outstanding Optionally Convertible Debentures (OCDs) is under moratorium, with repayments scheduled to commence from March 31, 2031.”
“Management is of the view that the Company will be able to continue its operations and meet its obligations in the normal course of business for the foreseeable future.”
Official Quarterly Documents
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This summary is AI-generated from Bajaj Hindusthan Sugar Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.