Madala Holdings Q1 FY27 Results (BSE: 532344)
Signal: Steady quarter
The read
The trajectory is a modest operating-revenue recovery to ₹386.03 lakh, +13.9% YoY after the recent Q1FY25 growth of +42.1%, but earnings quality weakened: PAT fell 22.7% YoY to ₹343.13 lakh even as total income rose 43.1% to ₹888.01 lakh because ₹501.98 lakh of other income exceeded operating revenue. The filing also states that depreciation increased prospectively after the useful life of buildings proposed for demolition was revised as part of redevelopment.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹3.86 Cr | +13.9% | +7.6% |
| Net profit | ₹3.43 Cr | -22.7% | |
| EPS | ₹2.32 | -22.9% |
P&L walk
Revenue increased to ₹386.03 lakh, +13.9% YoY and +7.6% QoQ, while total income reached ₹888.01 lakh, +43.1% YoY, because other income rose to ₹501.98 lakh; PAT nevertheless declined to ₹343.13 lakh, -22.7% YoY, leaving the quarter dependent on non-operating income.
Key positives
- Revenue from operations increased to ₹386.03 lakh, +13.9% YoY and +7.6% QoQ, extending the recovery from ₹17-21 crore quarterly revenue levels in FY24 on the company's reported history.
- Finance costs remained nearly flat at ₹8.25 lakh, +0.5% YoY, limiting balance-sheet financing drag.
- Basic EPS of ₹2.32 broadly tracked PAT, which fell 22.7% YoY, indicating no material dilution signal from the reported figures.
Key concerns
- Other income of ₹501.98 lakh was 130.0% of operating revenue of ₹386.03 lakh and drove the 43.1% YoY increase in total income, making reported PAT of ₹343.13 lakh less representative of recurring operations.
- Total expenses rose to ₹535.53 lakh from ₹134.96 lakh YoY, a 296.8% increase, while PAT declined 22.7% YoY despite revenue growth of 13.9%.
- The filing does not disclose EBITDA, EBIT, operating margin, pre-sales, collections, or project-level operating KPIs, limiting visibility into the underlying real-estate trajectory.
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