Shankara Buildpro Q1 FY27 Results (NSE: BUILDPRO)
Signal: Growth decelerated
The read
The trajectory remains revenue-led rather than margin-led: consolidated revenue reached ₹1889.79 crore, +20.51% YoY but -5.34% QoQ, while EBITDA margin was only 3.3% and PAT grew 11.04% to ₹35.61 crore; the key watchpoint is whether the subsidiary can add meaningful earnings without diluting the group's thin operating margin.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,889.79 Cr | +20.51% | -5.34% |
| EBIT | ₹58.21 Cr | +39.36% | |
| Net profit | ₹35.61 Cr | +11.04% | |
| EPS | ₹14.76 | +11.56% | |
| EBIT margin | 3.3% |
P&L walk
Consolidated revenue increased to ₹1889.79 crore, +20.51% YoY and -5.34% QoQ, while EBITDA margin was 3.3%; PAT rose 11.04% to ₹35.61 crore, with the group comparison affected by first-time subsidiary consolidation.
Segments
The company reports one segment, trading and retailing of home-improvement and building products; the newly consolidated subsidiary contributed ₹1.87 crore of revenue and ₹0.35 crore of PAT, leaving consolidated results only ₹1.18 crore and ₹0.18 crore above standalone revenue and PAT respectively.
Key positives
- Consolidated revenue was ₹1889.79 crore, up 20.51% YoY, while standalone revenue was ₹1888.61 crore, up 20.42% YoY, showing that the core parent continued to drive growth.
- EBIT was ₹58.21 crore, up 39.36% YoY, ahead of revenue growth, although the filing does not provide a comparable EBITDA-margin bridge.
- PAT-to-EPS conversion remained aligned: PAT grew 11.04% YoY and EPS grew 11.56% YoY to ₹14.76.
Key concerns
- EBITDA margin was only 3.3%, and the filing provides no evidence of a year-on-year margin expansion despite 20.51% revenue growth.
- Q1FY27 PAT declined 14.19% QoQ to ₹35.61 crore and revenue declined 5.34% QoQ to ₹1889.79 crore, interrupting the sequential revenue and profit momentum seen in Q4FY26.
- The Q1FY26 consolidated comparison is not like-for-like because it represents standalone results before Purple Splash Materials became applicable for consolidation.
Research and educational content only. Not investment advice.