Swastika Investm Q2 FY27 Results (BSE: 530585)
Signal: Growth decelerated
The read
The trajectory is improving on revenue but remains mixed: consolidated revenue grew 5.7% YoY after 10.0% growth in Q1FY27, and PAT rose 59.3%, yet fees declined 5.6%, finance costs rose 174.7%, other income contributed ₹204.69 lakh, and H1FY27 operating cash flow was negative ₹5,312.10 lakh.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹29.54 Cr | +5.73% | +2.00% |
| Net profit | ₹5.21 Cr | +59.3% | |
| EPS | ₹2.59 | +57.9% | |
| EBIT margin | N/A |
P&L walk
Consolidated revenue increased to ₹2,954.38 lakh, +5.7% YoY and +2.0% QoQ, with interest income up 59.9% and other income at ₹204.69 lakh; PBT rose 45.5% to ₹687.85 lakh, while finance costs increased 174.7% and operating cash flow for H1FY27 was negative ₹5,312.10 lakh.
Segments
Broking remained the largest unit at ₹2,775.18 lakh of revenue and ₹423.37 lakh of result, with result up 15.5% YoY; the sharpest improvement came from Others, whose result rose to ₹146.09 lakh from ₹21.40 lakh, while merchant-banking result declined 7.2% to ₹118.39 lakh.
Key positives
- Consolidated revenue reached ₹2,954.38 lakh, +5.7% YoY and +2.0% QoQ, extending the recovery from the ₹2,794.39 lakh year-ago quarter.
- Interest income rose 59.9% YoY to ₹1,172.53 lakh, providing the main growth engine despite a 5.6% decline in fees and commission income.
- Broking segment result increased 15.5% YoY to ₹423.37 lakh, while the Others segment result rose to ₹146.09 lakh from ₹21.40 lakh.
- Consolidated basic EPS increased 57.9% YoY to ₹2.59, broadly tracking the 59.3% rise in PAT attributable to owners.
Key concerns
- Fees and commission income declined 5.6% YoY to ₹1,391.48 lakh, indicating that the core fee-led business is not yet matching the growth in interest income.
- Finance costs increased 174.7% YoY to ₹435.93 lakh, materially faster than the 5.7% revenue growth.
- H1FY27 operating cash flow was negative ₹5,312.10 lakh versus negative ₹3,684.93 lakh in H1FY26, despite reported consolidated profit.
- Merchant-banking result declined 7.2% YoY to ₹118.39 lakh and 50.8% QoQ, showing continued volatility in that activity.
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