Alldigi Tech Q1 FY27 Results (NSE: ALLDIGI)
Signal: Margin expansion
The read
Margin-led profit growth continues (5th consecutive quarter of YoY EBITDA margin expansion), but revenue deceleration (4.4% vs 6-20% in prior year) and near-flat BPM performance warrant monitoring. Standalone PAT is distorted by dividend flows.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹150.28 Cr | 4.4% | -2.8% |
| EBIT | ₹28.36 Cr | 8.8% | |
| Net profit | ₹18.12 Cr | 21.7% | |
| EPS | ₹11.89 | 21.7% | |
| EBIT margin | 29.5% |
P&L walk
Revenue growth decelerated to 4.4% YoY, but EBITDA margin expanded 206bps to 29.5% on lower employee cost ratio (55.0% vs 58.5%), driving PAT +21.7%.
Segments
T&D segment grew revenue 12% YoY, maintaining ~43% PBIT margin, while BPM grew only 1.9% with margin contracting 190bps to 11.9%. T&D is the profit engine, but BPM remains the revenue anchor.
Key positives
- EBITDA margin expanded 206bps YoY to 29.5%, driven by employee cost ratio declining from 58.5% to 55.0%.
- PAT grew 21.7% YoY, outpacing revenue growth; EPS ₹11.89, +21.7%.
- T&D segment revenue up 12% YoY, maintaining high margins (~43%).
- Interim dividend of ₹30 per share declared, strong return to shareholders.
Key concerns
- Consolidated revenue growth decelerated to 4.4% YoY (from 10-12% in FY26).
- BPM segment nearly flat (+1.9% YoY) with margin contraction of 190bps.
- Finance cost nearly doubled YoY (₹3.70 Cr vs ₹1.91 Cr); debt level not disclosed.
- Standalone earnings quality: 63.4% of PBT from other income (dividend + tax reversal).
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