Profit and cash flow diverged
Reported profit rose 30.8% but operating cash flow fell 242.9% — worth investigating whether the profit is being collected.
Importance 74 / 95 · cash quality
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
Reported profit rose 30.8% but operating cash flow fell 242.9% — worth investigating whether the profit is being collected.
Importance 74 / 95 · cash quality
Revenue grew 11.7% but profit grew 1.3%, so the company kept less of each rupee of revenue as profit.
Importance 64 / 95 · growth
Revenue grew 11.7% but only -0.19× of reported profit came through as operating cash.
Importance 62 / 95 · cash quality
Operating cash flow was only -0.19× reported profit (FY2026).
Importance 61 / 95 · cash quality
Classified by the exchange under Industrials › Capital Goods › Electrical Equipment › Heavy Electrical Equipment.
Peer set used on this page: 8 heavy electrical equipment.
Revenue grew 11.7% but profit grew 1.3%, so the company kept less of each rupee of revenue as profit.
Rule PROFIT_SLOWER_THAN_REVENUE
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Q1 FY27 net profit of ₹2,143 cr is the highest of the 12 quarters on record for this company.
Rule QTR_PROFIT_AT_RECORD
Q1 FY27 net profit was ₹2,143 cr, up 478.6% from ₹370 cr in the previous quarter (Q4 FY26).
Rule QTR_PROFIT_SEQUENTIAL_CHANGE
| Quarter | Revenue | YoY | Net profit | YoY | Net margin |
|---|---|---|---|---|---|
| Q3 FY24 | 4,873 | — | 456 | — | 9.4% |
| Q4 FY24 | 5,808 | — | 572 | — | 9.8% |
| Q1 FY25 | 3,587 | −25.7% | 615 | +21.5% | 17.1% |
| Q2 FY25·d | 4,259 | −25.9% | 583 | −27.5% | 13.7% |
| Q4 FY25 | 6,461 | +11.3% | 831 | +45.4% | 12.9% |
| Q3 FY26 | 3,831 | — | 278 | — | 7.3% |
| Q4 FY26 | 4,618 | −28.5% | 370 | −55.4% | 8.0% |
| Q1 FY27 | 4,714 | — | 2,143 | — | 45.5% |
·d = derived by differencing year-to-date filings (Q2–Q4 aren't filed stand-alone).
ROE improved from 14.7% to 18.9% year on year.
Rule ROE_IMPROVED_YOY
Reported profit rose 30.8% but operating cash flow fell 242.9% — worth investigating whether the profit is being collected.
Rule PROFIT_UP_CASH_DOWN
Revenue grew 11.7% but only -0.19× of reported profit came through as operating cash.
Operating cash flow was only -0.19× reported profit (FY2026).
Ranked against 8 heavy electrical equipment (FY2026, consolidated).
SIEMENS · 6th of 6 · set median 26.5%
SIEMENS · 7th of 8 · set median 18.2%
SIEMENS · 7th of 8 · set median 21.2%
SIEMENS · 2nd of 8 · set median 85.4×
Trades at 48.99× earnings — 43% below the heavy electrical equipment median of 85.42×.
Rule PE_BELOW_PEERS
Over 3 years profit compounded at 12.0% a year while the stock returned 1.1% a year.
Rule STOCK_LAGGED_EARNINGS
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|
| Revenue | 19,554 | 22,240 | 17,364 | 24,846 |
| Total income | 20,050 | 23,165 | 17,935 | 25,599 |
| EBITDA | 2,983 | 4,029 | 2,577 | 3,577 |
| Profit before tax | 2,640 | 3,639 | 2,282 | 3,054 |
| Net profit | 1,962 | 2,718 | 2,106 | 2,754 |
| EPS (₹) | 55.1 | 76.3 | 59.1 | 77.3 |
| Net worth | 13,096 | 15,366 | 13,238 | 13,851 |
| Total debt | 0 | 0 | 0 | 0 |
| Operating cash flow | 1,400 | 1,670 | 375 | −535 |
| Free cash flow | 1,246 | 1,567 | 2 | −1,080 |
| Ratio | FY24 | FY25 | FY26 | FY26 |
|---|---|---|---|---|
| Growth | ||||
| Revenue growth YoY | — | 13.7 | 11.7 | 11.7 |
| Profit growth YoY | — | 38.5 | 1.3 | 1.3 |
| Profitability | ||||
| EBITDA margin % | 15.3 | 18.1 | 14.4 | 14.4 |
| Net margin % | 9.8 | 11.7 | 10.8 | 10.8 |
| Return on equity % | 15.0 | 19.1 | 18.9 | 18.9 |
| Return on capital % | 20.3 | 26.0 | 21.6 | 21.6 |
| Leverage & cash | ||||
| Debt to equity | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash flow ÷ profit | 0.71 | 0.61 | -0.19 | -0.19 |
| Current ratio | 2.08 | 2.26 | 2.57 | 2.57 |