GHV Infra Q1 FY27 Results (BSE: 505504)
Signal: Steady quarter
The read
The operating inflection is visible in standalone execution: revenue reached ₹218.6 crore, up 171.67% YoY, while EBITDA grew 235.93% and margin expanded 245bps to 12.83%; however, the investment thesis is constrained by the ₹3.89 crore standalone-to-consolidated PAT gap and diluted EPS falling 52.3% YoY to ₹1.48.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹218.6 Cr | N/A | N/A |
| EBIT | ₹23.85 Cr | N/A | |
| Net profit | ₹7.36 Cr | N/A | |
| EPS | ₹1.02 | N/A | |
| EBIT margin | 11.2% |
P&L walk
Consolidated revenue was ₹218.6 crore and EBITDA was ₹24.53 crore at an 11.2% margin, while PAT was ₹7.36 crore; the filing provides no consolidated comparative columns, so YoY and QoQ trajectory cannot be established from this filing.
Segments
No segment results table is disclosed, but the ₹7.36 crore consolidated PAT versus ₹11.25 crore standalone PAT shows that subsidiaries, including the overseas subsidiary referenced in prior context, dragged group earnings.
Key positives
- Standalone revenue rose 171.67% YoY to ₹218.6 crore, demonstrating a sharp increase in EPC execution scale.
- Standalone EBITDA grew 235.93% YoY to ₹28.05 crore, with EBITDA margin expanding 245bps from 10.38% to 12.83%.
- Standalone PBT increased 145.73% YoY to ₹15.53 crore, supporting the view that the quarter's growth was operating-led rather than driven by other income.
- The company added three independent directors with experience across infrastructure, highways, banking and public administration, strengthening stated governance and execution oversight.
Key concerns
- Consolidated PAT of ₹7.36 crore was ₹3.89 crore below standalone PAT of ₹11.25 crore, confirming material earnings drag from subsidiaries.
- Diluted standalone EPS declined 52.3% YoY to ₹1.48 even as PAT rose 138.35% to ₹11.25 crore, creating a significant per-share earnings dilution concern.
- Consolidated EBITDA margin was 11.2%, below the standalone 12.83%, showing that group-level economics remain weaker than the parent execution profile.
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