Authum Invest Q1 FY27 Results (NSE: AIIL)
Signal: Earnings grew
The read
The operating recovery is credible at the parent level—standalone revenue reached ₹1448.22 crore, up 19.7% YoY, and standalone PAT reached ₹1114.81 crore, up 18.4%—but the headline consolidated PAT of ₹2593.58 crore is far above standalone PAT and coincides with consolidated impairment of ₹69.66 crore and a 76.5% YoY EPS decline caused by the bonus-share reset; investors should focus on repeatable subsidiary earnings and asset-quality disclosures rather than the headline PAT growth.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,469.54 Cr | +20.9% | +372.8% |
| EBIT | ₹1,313.34 Cr | N/A | |
| Net profit | ₹2,593.58 Cr | +175.0% | |
| EPS | ₹13.05 | -76.5% | |
| EBIT margin | 0% |
P&L walk
Consolidated revenue of ₹1469.54 crore rose 20.9% YoY and 372.8% QoQ, while finance cost of ₹64.36 crore rose 202.7% YoY and impairment of ₹69.66 crore rose 289.2% YoY; reported PAT of ₹2593.58 crore was substantially above standalone PAT of ₹1114.81 crore, indicating a material group-consolidation effect.
Segments
There is no segment table, but the consolidated-versus-standalone gap is material: consolidated PAT of ₹2593.58 crore exceeded standalone PAT of ₹1114.81 crore by ₹1478.77 crore despite revenue differing by only ₹21.32 crore, pointing to subsidiary or consolidation effects as the main source of group-level earnings uplift.
Key positives
- Standalone revenue was ₹1448.22 crore, +19.7% YoY and +439.9% QoQ, reversing the ₹268.20 crore preceding-quarter base.
- Standalone PAT was ₹1114.81 crore, +18.4% YoY, showing that the parent-level earnings recovery broadly tracked revenue growth.
- Consolidated EBITDA was ₹1324.7 crore at a reported 90.1% margin, while other income was only ₹16.10 crore and the filing's earnings-quality flag was clean.
- Consolidated PAT of ₹2593.58 crore materially exceeded standalone PAT of ₹1114.81 crore, creating potential upside if subsidiary earnings prove recurring.
Key concerns
- Consolidated impairment on financial instruments rose to ₹69.66 crore from ₹17.91 crore YoY, while finance costs rose to ₹64.36 crore from ₹21.27 crore, indicating higher credit-cost and funding-cost intensity.
- The consolidated PAT of ₹2593.58 crore is ₹1478.77 crore above standalone PAT of ₹1114.81 crore, but the filing does not provide a segment or subsidiary profit bridge explaining the gap.
- EPS declined 76.5% YoY to ₹13.05 despite reported PAT growth because the company issued 67,93,80,400 bonus shares; future per-share growth must be assessed from the post-bonus base.
- The filing provides no AUM, NIM, GNPA, NNPA, credit-cost or capital-adequacy metrics, limiting assessment of the NBFC's underlying balance-sheet trajectory.
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