5paisa Capital H1FY27 Results (NSE: 5PAISA)
Signal: Steady quarter
The read
The earnings inflection is negative: total income grew 12.8% YoY to 17484.26 lakh, but other expenses grew 25.9% and finance cost 17.4%, driving PAT down 11.1% and EPS down 39.2%; the rights issue has materially weakened per-share earnings despite revenue recovery.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹174.84 Cr | +12.8% | N/A |
| Net profit | ₹18.63 Cr | -11.1% | |
| EPS | ₹4.08 | -39.2% | |
| EBIT margin | 14% |
P&L walk
Consolidated total income rose 12.8% YoY to 17484.26 lakh, but other expenses grew 25.9% and finance cost 17.4%, taking PAT down 11.1% to 1862.90 lakh; EPS fell 39.2% to ₹4.08 after the rights issue.
Segments
There is no reportable segment split; consolidated PAT of 1862.90 lakh was only 11.10 lakh above standalone PAT of 1851.80 lakh, indicating limited subsidiary impact in H1FY27.
Key positives
- Total income increased 12.8% YoY to 17484.26 lakh, led by interest income growth of 28.2% to 8707.32 lakh.
- PPE rose to 517.95 lakh from 403.90 lakh and CWIP to 1460.53 lakh from 230.60 lakh, indicating continued investment in the operating platform.
- Consolidated and standalone PAT were close at 1862.90 lakh and 1851.80 lakh respectively, showing that current earnings are not materially dependent on subsidiaries.
Key concerns
- PAT declined 11.1% YoY to 1862.90 lakh despite 12.8% income growth because other expenses rose 25.9% and finance cost rose 17.4%.
- Basic EPS declined 39.2% YoY to ₹4.08, substantially worse than PAT growth, after the rights issue increased paid-up equity capital from 3123.69 lakh to 4688.23 lakh.
- Operating cash flow was negative at 35922.20 lakh in H1FY27 versus negative 6386.61 lakh in H1FY26, requiring monitoring of working-capital and bank-deposit movements.
- The proposed IFSC expansion remains subject to regulatory approvals and registrations.
Research and educational content only. Not investment advice.