Choice Intl. Q1 FY27 Results (NSE: CHOICEIN)
Signal: Earnings grew
The read
The operating trajectory remains positive with consolidated revenue of ₹3,097.86 million (+32.5% YoY) and EBITDA of ₹1,140.40 million (+31.4%) at a 36.8% margin, but the mix is becoming more important: Advisory revenue grew 52.2% while its PBT grew only 5.8%, NBFC PBT fell 36.8%, and EPS growth of 14.3% lagged PAT growth of 34.6% because of dilution.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹309.79 Cr | 32.5% | -1.3% |
| EBIT | ₹107.6 Cr | 28.1% | |
| Net profit | ₹60.61 Cr | 34.6% | |
| EPS | ₹2.72 | 14.3% | |
| EBIT margin | 36.8% |
P&L walk
Revenue increased to ₹3,097.86 million (+32.5% YoY, -1.3% QoQ), EBITDA reached ₹1,140.40 million (+31.4% YoY) at a 36.8% margin, while PAT rose to ₹606.07 million (+34.6% YoY) despite a 10.7% QoQ decline from ₹678.42 million.
Segments
Advisory Services was the fastest-growing major segment at ₹912.84 million of revenue, up 52.2% YoY, while its ₹255.50 million PBT grew only 5.8%; Broking remained the largest profit contributor at ₹482.70 million, whereas NBFC PBT declined 36.8% YoY to ₹44.59 million.
Key positives
- Consolidated revenue reached ₹3,097.86 million, up 32.5% YoY, with Advisory Services revenue growing 52.2% to ₹912.84 million.
- Consolidated EBITDA rose 31.4% YoY to ₹1,140.40 million and EBITDA margin expanded 110bps YoY to 36.8%.
- Broking & Distribution remained the largest profit engine, with segment PBT of ₹482.70 million, up 58.9% YoY.
- Segment assets increased 33.3% YoY to ₹37,361.43 million, supporting continued scale-up across the financial-services platform.
Key concerns
- EPS grew only 14.3% YoY to ₹2.72 versus PAT growth of 34.6%, with paid-up equity capital rising 8.3% YoY to ₹2,227.77 million.
- NBFC Services PBT declined 36.8% YoY to ₹44.59 million despite revenue growth of 15.3%, indicating weaker profitability in the lending segment.
- Advisory Services revenue grew 52.2% YoY but segment PBT increased only 5.8% to ₹255.50 million, pointing to substantial margin pressure or cost absorption.
Research and educational content only. Not investment advice.