Omaxe swings to Rs 25.55 cr loss as operating margin nears zero
Revenue grew sequentially, but faster expense growth, a 35.16% rise in interest and an Rs 18.47 cr tax charge pushed profit before tax into a loss.
Filed 27 Oct 2026, 16:53 IST · after market close · Omaxe Ltd (OMAXE)
Key takeaways
- Consolidated operating margin fell 1.73 percentage points sequentially to 0.07% as expenses grew 44.19%, faster than revenue at 41.69%.
- Omaxe reported a consolidated net loss of Rs 25.55 cr after Rs 18.47 cr of tax expense, compared with a Rs 1.30 cr profit in Q1FY27.
- Operating margin at 0.07% was 12.15 percentage points below the 12.22% median of 65 Consumer Discretionary peers that had reported.
Price around the results
Revenue growth did not reach operating profit
Consolidated revenue increased 41.69% sequentially to Rs 575.51 cr, but expenses rose faster at 44.19% to Rs 575.11 cr. That gap reduced operating margin by 1.73 percentage points to 0.07%, from 1.80% in Q1FY27. Operating profit consequently fell 94.54% to Rs 0.40 cr.
Higher interest and tax expense drove the loss
Interest expense increased 35.16% sequentially to Rs 36.60 cr, while depreciation rose 18.15% to Rs 9.31 cr. Other income was Rs 38.43 cr, equal to -542.80% of pre-tax profit because pre-tax profit was a loss of Rs 7.08 cr; this underlines that reported earnings were not supported by operating profit. Tax expense rose 382.25% to Rs 18.47 cr, taking the reported tax rate from 74.66% to -260.88% and adding to the Rs 25.55 cr net loss.
Margin trails sector peers; results came after the close
Omaxe's 0.07% operating margin was 12.15 percentage points below the 12.22% median for 65 Consumer Discretionary peers that had reported the same quarter, placing it seventh from the bottom. The company filed these consolidated results after market close on 27 October 2026, so there is no reported market reaction yet.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹576 cr | ₹406 cr | +41.69% |
| Other income | ₹38 cr | ₹33 cr | +17.27% |
| Expenses | ₹575 cr | ₹399 cr | +44.19% |
| Operating profit | ₹0 cr | ₹7 cr | -94.54% |
| Operating margin (%) | 0.07% | 1.80% | — |
| Interest | ₹37 cr | ₹27 cr | +35.16% |
| Depreciation | ₹9 cr | ₹8 cr | +18.15% |
| Profit before tax | ₹-7 cr | ₹5 cr | — |
| Tax | ₹18 cr | ₹4 cr | +382.25% |
| Net profit | ₹-26 cr | ₹1 cr | — |
| EPS (₹) | ₹-1.37 | ₹0.05 | — |
Operating margin of 0.07% compares with a Consumer Discretionary sector median of 12.22% across 65 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -6.20% | -5.98% |
Volume on the results session was 0.93× its 20-day average.
What to watch
- Whether operating margin recovers from 0.07% after expenses grew 44.19% sequentially.
- Whether interest expense declines from Rs 36.60 cr.
- Whether tax expense moves below Rs 18.47 cr after the reported tax rate of -260.88%.