Apex Ecotech Limited reports 189% year-on-year revenue growth in H1 FY27; Revenue from operations rises to Rs 94.27 crore;EBITDA and PAT grow 75% and 55%, respectively.
New Delhi [India], November 13: Apex Ecotech Limited (“Apex” or “the Company”), an engineering-driven EPC company specializing in turnkey water, wastewater and Zero Liquid Discharge (ZLD) solutions, today announced its un-audited financial results for the half-year ended 30 September 2026 (H1 FY27).
H1 FY27 Key Financial Highlights
| Particulars (In ₹ Crore) | H1 FY27 | H1 FY26 | YoY Change |
|---|---|---|---|
| Revenue From Operations | 94.27 | 32.57 | +189% |
| EBITDA | 5.25 | 3.00 | +75% |
| PAT | 4.00 | 2.58 | +55% |
Performance & Margin Movement
- The Company recorded a substantial increase in revenue as project execution scaled up during the period. Absolute EBITDA and PAT also increased year-on-year, although EBITDA margin moderated to 5.57% from 9.21% and PAT margin to 4.25% from 7.91%.
- Direct material costs represented 83.78% of revenue, compared with 75.95% in H1 FY26. The reported margin profile was influenced by input cost movements on orders secured in earlier periods, alongside the timing and mix of project execution, recognition of associated costs, and customer verification and certification cycles.
- The Company continues to prioritise disciplined project execution, cost control and operational efficiency. Working-capital management, particularly project billing and receivable realisation, remains an important focus as the business scales.
Management Commentary
H1 FY27 reflects a significant scale-up in Apex Ecotech’s operations, with revenue growing approximately 189% year-on-year to ₹94.27 crore, while EBITDA and profit after tax grew by 75% and 55%, respectively.
The moderation in reported margins during the period was primarily driven by two factors — input cost inflation on orders secured in earlier periods and the timing of revenue certification, rather than any change in the underlying economics of our projects.
First, elevated global inflation, geopolitical disruptions and firmer crude oil prices led to higher costs of steel, polymers, membranes and other mechanical and electrical inputs. Since a significant portion of H1 execution related to earlier orders without price variation provisions, passing on these increases remained challenging. However, commodity cycles are temporary, and we expect this impact to normalize over time.
