MICEL's Rs 2.13 cr profit was reported with a zero tax charge
The consolidated operating margin was 9.77%, while Rs 1.39 cr of interest took a meaningful share of operating profit.
Filed 31 Jul 2026, 16:19 IST · after market close · MICEL (MICEL)
Key takeaways
- Zero tax lifted consolidated net profit to Rs 2.13 cr, equal to profit before tax and making earnings especially sensitive to the tax line.
- Operating profit of Rs 4.27 cr translated into a 9.77% margin, while interest of Rs 1.39 cr absorbed a substantial part of operating earnings.
- Other income of Rs 0.22 cr was small relative to Rs 2.13 cr of pre-tax profit, so non-operating income was not the main profit driver.
Zero tax defines Q1FY27 profit
MICEL reported consolidated net profit of Rs 2.13 cr in Q1FY27, equal to its profit before tax because the reported tax rate was 0.0%. Other income was Rs 0.22 cr against pre-tax profit of Rs 2.13 cr, so the earnings outcome was not mainly supported by non-operating income.
Interest reduced operating-profit conversion
Expenses of Rs 39.45 cr against revenue of Rs 43.72 cr left operating profit at Rs 4.27 cr, equivalent to a 9.77% operating margin. Interest of Rs 1.39 cr and depreciation of Rs 0.96 cr then reduced the amount reaching pre-tax profit to Rs 2.13 cr.
Results were filed after market close
MICEL filed its consolidated Q1FY27 results at 16:19 IST on 31 Jul 2026, after market close. The quarter is therefore best assessed through its zero-tax profit, 9.77% operating margin and interest burden until subsequent trading data emerges.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹44 cr |
| Other income | ₹0 cr |
| Expenses | ₹39 cr |
| Operating profit | ₹4 cr |
| Operating margin (%) | 9.77% |
| Interest | ₹1 cr |
| Depreciation | ₹1 cr |
| Profit before tax | ₹2 cr |
| Tax | ₹0 cr |
| Net profit | ₹2 cr |
| EPS (₹) | ₹0.09 |
What to watch
- Whether operating margin moves above or below 9.77% in the next reported quarter.
- Whether the tax rate remains at 0.0% and net profit continues to track profit before tax.
- Whether interest remains at a meaningful level relative to operating profit of Rs 4.27 cr.