RDB Infrastruc. Q1 FY27 Results (BSE: 533285)
Signal: Steady quarter
The read
The quarter shows a sharp operating inflection versus the recent Q2FY26-Q4FY26 run, with revenue of ₹28.41 Cr versus ₹18.50 Cr, ₹19.73 Cr and ₹21.91 Cr respectively, and consolidated EBITDA margin recovering to 23.7% from 4.05%, -1.98% and 3.1%; however, ₹4.63 Cr of other income versus ₹4.95 Cr PBT means the ₹4.43 Cr PAT is not yet a reliable sign of recurring real-estate operating strength.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹28.41 Cr | N/A | N/A |
| EBIT | ₹6.71 Cr | N/A | |
| Net profit | ₹4.43 Cr | N/A | |
| EPS | ₹0.21 | N/A | |
| EBIT margin | 23.7% |
P&L walk
Consolidated revenue was ₹28.41 Cr, while EBITDA was ₹6.72 Cr at a 23.7% margin and EBIT was ₹6.71 Cr; PAT of ₹4.43 Cr was supported by ₹4.63 Cr of other income, which constituted 93.5% of PBT.
Segments
Although no segment table is disclosed, consolidated EBITDA of ₹6.72 Cr exceeded standalone EBITDA of ₹5.24 Cr by ₹1.48 Cr, while consolidated and standalone PAT were nearly identical at ₹4.43 Cr and ₹4.44 Cr because other income dominated the result.
Key positives
- Consolidated revenue reached ₹28.41 Cr, above the recent Q2FY26-Q4FY26 quarterly range of ₹18.50 Cr to ₹21.91 Cr.
- Consolidated EBITDA was ₹6.72 Cr at a 23.7% margin, versus the recent prior-series margins of 4.05%, -1.98% and 3.1% in Q2FY26-Q4FY26.
- Standalone EBITDA increased 25.4% YoY to ₹5.24 Cr despite revenue declining 57.9% YoY to ₹28.41 Cr.
Key concerns
- Standalone revenue fell 57.9% YoY to ₹28.41 Cr, so the higher EBITDA and PAT are not supported by topline growth on the disclosed comparable basis.
- Other income of ₹4.63 Cr represented 93.5% of PBT of ₹4.95 Cr, leaving recurring operating profit as the key unresolved earnings-quality issue.
- Standalone EPS grew 50.0% YoY to ₹0.21, lagging PAT growth of 63.2% to ₹4.44 Cr.
Earnings quality: includes non-operating other income
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