Nibe LimitedQ1 FY27 Results & Financial Update
Nibe Limited: Q1 FY27 consolidated results and company financials – revenue ₹63.01 Cr, PAT ₹-12.00 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Nibe Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
During the quarter ended June 30, 2026, Nibe Limited reported consolidated revenue from operations of Rs. 63.01 crore, reflecting a notable contraction compared to the preceding quarter (ended March 31, 2026) while expanding on a year-on-year basis from the corresponding period of the previous fiscal year.
Total consolidated income for Q1 FY27 stood at Rs. 65.06 crore, which includes other income of Rs. 2.05 crore. Despite higher top-line performance relative to the same quarter last year, the company incurred a consolidated loss.
Basic and diluted earnings per share (EPS) for the quarter were reported at negative Rs. 7.34, reflecting the bottom-line pressure experienced during the period under review.
Segment-wise performance indicates that the Defence segment generated revenue of Rs. 62.13 crore with a segment loss before tax of Rs. 14.97 crore, while the Aeronautics segment contributed Rs. 0.89 crore in revenue with a segment loss before tax of Rs. 0.26 crore.
Total expenses for the quarter aggregated to Rs. 80.29 crore, driven primarily by material consumption costs of Rs. 31.10 crore, changes in inventories of finished goods, work-in-progress and traded goods, employee benefit expenses of Rs. 6.62 crore, finance costs of Rs. 3.44 crore, and depreciation of Rs. 4.31 crore.
The company maintained strong deployment of funds raised via preferential allotments, utilizing portions toward capital expenditure, debt repayment, working capital augmentation, and general corporate functions.
01 · Business model
What does Nibe do?
Nibe Limited operates primarily in the defence and aerospace sector, focusing on critical heavy defence component fabrication, manufacturing, machining of components, and maintenance of defense and electronic systems, including naval, land, air, and space equipment.
The company's product portfolio covers weapons, communication devices, vehicles for armed forces, and related engineering services. Additionally, the group operates in the aeronautics sector through its subsidiaries, covering the hiring and chartering of aircraft.
Nibe Limited manages its operations through multiple manufacturing plants located in Pune and Bengaluru, supported by a network of specialized subsidiaries covering automobile, defence and aerospace, manufacturing, naval, technologies, and space verticals.
The business model is anchored on executing complex engineering contracts for defence clients and building specialized infrastructural capabilities to cater to India's domestic defence manufacturing expansion.
02 · Historical context
What shaped the business before this quarter
In 2021, the company strategically transitioned into critical heavy defence component fabrication, leading to the establishment of its manufacturing operations with four plants across Pune and Bengaluru.
Previously during FY26 and continuing into Q1 FY27, the company raised funds through preferential allotments of equity shares and convertible warrants, allotting shares to augment capital expenditure and working capital.
03 · Financial snapshot
Current quarter vs the two useful baselines
| Metric | Q1 FY27 | Year-ago | Previous quarter |
|---|---|---|---|
| Revenue from operations | ₹63.01 Cr | ₹82.50 Cr | ₹259.50 Cr |
| Total income | ₹65.06 Cr | ₹83.76 Cr | ₹261.14 Cr |
| Profit before tax | ₹-15.23 Cr | ₹1.79 Cr | ₹37.11 Cr |
| Profit after tax | ₹-12.00 Cr | ₹1.04 Cr | ₹27.58 Cr |
| EPS | ₹-7.34 | ₹0.72 | ₹20.11 |
Financial interpretation
What the reported numbers mean
Profit after tax represented -19.0% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to -24.2% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹2.05 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
The core defence segment contributed Rs. 62.13 crore to total segment revenues, representing the primary revenue engine for the group.
Aeronautics activities, encompassing aircraft hiring and chartering through subsidiaries, generated Rs. 0.89 crore during the quarter.
What drove margins
Cost of materials consumed stood at Rs. 31.10 crore, accompanied by changes in inventories of finished goods, work-in-progress, and traded goods amounting to negative Rs. 1.38 crore.
Finance costs of Rs. 3.44 crore and depreciation and amortization expenses of Rs. 4.31 crore weighed on the bottom line during the quarter.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Reported segment revenue of Rs. 62.13 crore with a segment loss before tax of Rs. 14.97 crore on total segment assets of Rs. 670.78 crore.
Reported segment revenue of Rs. 0.89 crore with a segment loss before tax of Rs. 0.26 crore on total segment assets of Rs. 32.02 crore.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Projects, capex and execution
Out of funds raised through preferential allotments, the company utilized Rs. 24.00 crore towards capital expenditure requirements for developing and setting up new facilities, including construction and civil works, as of June 30, 2026.
07 · Strategy & new businesses
How the company is trying to change its growth mix
The consolidated financial statements incorporate multiple subsidiaries including Nibe Automobile Limited, Nibe Defence and Aerospace Limited, Karmayogi Manufacturing Private Limited, Nibe Meson Naval Limited, Nibe Technologies Private Limited, Nibe Space Private Limited, and step-down subsidiary Nibe Aeronautics Limited.
08 · Reported developments
What changed operationally
Mr. Ganesh Ramesh Nibe was appointed as the Chief Executive Officer of the company effective August 14, 2026, alongside his continuing role as Chairman and Managing Director.
09 · Pressure points & risks
What is not going smoothly
The company reported a consolidated net loss after tax of Rs. 12.00 crore for the quarter ended June 30, 2026.
10 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
The company utilized Rs. 23.11 crore from preferential allotment proceeds to augment the working capital needs of the business as of June 30, 2026.
Capital allocation & funding
The company deployed Rs. 75.00 crore from preferential allotment proceeds toward the repayment of existing borrowings.
11 · Beyond the numbers
What changed beyond the numbers
Reported update
Appointment of Internal Auditor
M/s BDO India Services Private Limited was appointed as the Internal Auditor of the company effective August 14, 2026, following the completion of the term of the previous internal auditor.
Reported update
Re-appointment of Cost Auditor
M/s Dhananjay Laxman Gawade & Co. was re-appointed as the Cost Auditor of the company for the financial year 2026-27.
12 · Key Q&A
The quarter, answered directly
What does Nibe do?
Nibe Limited operates primarily in the defence and aerospace sector, focusing on critical heavy defence component fabrication, manufacturing, machining of components, and maintenance of defense and electronic systems, including naval, land, air, and space equipment.
What is the clearest takeaway from Q1 FY27?
During the quarter ended June 30, 2026, Nibe Limited reported consolidated revenue from operations of Rs. 63.01 crore, reflecting a notable contraction compared to the preceding quarter (ended March 31, 2026) while expanding on a year-on-year basis from the corresponding period of the previous fiscal year.
What drove revenue or demand?
The core defence segment contributed Rs. 62.13 crore to total segment revenues, representing the primary revenue engine for the group.
What mattered most for margins or profitability?
Cost of materials consumed stood at Rs. 31.10 crore, accompanied by changes in inventories of finished goods, work-in-progress, and traded goods amounting to negative Rs. 1.38 crore.
What changed operationally beyond the headline numbers?
Out of funds raised through preferential allotments, the company utilized Rs. 24.00 crore towards capital expenditure requirements for developing and setting up new facilities, including construction and civil works, as of June 30, 2026.
What are the main pressure points disclosed for the quarter?
The company reported a consolidated net loss after tax of Rs. 12.00 crore for the quarter ended June 30, 2026.
13 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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14 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Warrant Subscription Realization: Monitor the receipt of the remaining 75% warrant subscription pending for 1,242,000 warrants as of June 30, 2026.
- 02
Capex Execution and Facility Setup: Track the physical progress and completion of new facility construction funded through preferential allotment proceeds.
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