Dhenu Buildcon Q1 FY27 Results (BSE: 501945)
Signal: Earnings grew
The read
The quarter marked a sharp interest-income recovery, with total income at ₹119.00 lakh versus ₹30.67 lakh YoY and PAT at ₹84.37 lakh versus ₹30.23 lakh, but this did not translate into per-share earnings: EPS fell to ₹0.00 from ₹0.17 as paid-up capital expanded to ₹59,337.93 lakh from ₹183.00 lakh. The filing does not disclose AUM, NIM, asset quality, credit cost, borrowings or cash flow, leaving the sustainability and quality of the NBFC earnings trajectory unverified.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1.19 Cr | +288.2% | N/A |
| Net profit | ₹0.84 Cr | +179.0% | |
| EPS | ₹0 | -100.0% | |
| EBIT margin | 0% |
P&L walk
Standalone total income rose to ₹119.00 lakh from ₹30.67 lakh YoY, while PAT increased to ₹84.37 lakh from ₹30.23 lakh; the improvement was interest-income-led, with no exceptional item in the current quarter, but EPS fell to ₹0.00 from ₹0.17 because of the enlarged equity base.
Key positives
- Interest-led total income reached ₹119.00 lakh, up 288.2% YoY from ₹30.67 lakh.
- PAT rose 179.0% YoY to ₹84.37 lakh from ₹30.23 lakh, with no exceptional item reported in the current quarter versus ₹93.59 lakh in the immediately prior quarter.
- Finance costs were nil versus ₹1.35 lakh YoY, reducing a reported expense drag.
Key concerns
- Basic EPS fell 100.0% YoY to ₹0.00 despite PAT growth of 179.0%, while paid-up equity share capital increased to ₹59,337.93 lakh from ₹183.00 lakh.
- The filing does not disclose core NBFC operating KPIs such as AUM growth, NIM, GNPA/NNPA, credit cost, cost of borrowing or capital adequacy, limiting assessment of recurring lending performance.
- Current tax of ₹29.64 lakh reduced pre-tax profit of ₹114.01 lakh to PAT of ₹84.37 lakh, making tax a material below-the-line deduction.
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