Dam Capital Advi Q2 FY27 Results (NSE: DAMCAPITAL)
Signal: Growth reaccelerated
The read
The earnings inflection is real but concentrated: investment banking revenue rose 33.9% YoY to ₹34.29 crore and turned the segment to ₹17.65 crore profit, while stock broking stayed loss-making at -₹3.54 crore; the sharp PAT rebound to ₹13.54 crore is therefore dependent on transaction-led investment-banking activity, with H1 operating cash flow negative at ₹50.67 crore.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹54.24 Cr | +81.6% | +81.6% |
| Net profit | ₹13.54 Cr | +8,926.7% | |
| EPS | ₹1.92 | +9,500.0% |
P&L walk
Revenue increased to ₹54.24 crore from ₹29.86 crore YoY, with investment banking contributing ₹34.29 crore and stock broking remaining loss-making at -₹3.54 crore; PAT recovered to ₹13.54 crore from ₹0.15 crore despite operating cash flow of -₹50.67 crore for H1FY27.
Segments
Investment banking drove the group recovery, with revenue of ₹34.29 crore and segment result of ₹17.65 crore versus a ₹3.70 crore loss in the preceding quarter, while stock broking revenue fell 10.3% YoY to ₹15.55 crore and its loss widened to ₹3.54 crore.
Key positives
- Investment banking revenue rose 33.9% YoY to ₹34.29 crore and its segment result turned positive at ₹17.65 crore from a ₹2.38 crore year-ago profit comparison and a ₹3.70 crore loss in the preceding quarter.
- Consolidated PAT recovered to ₹13.54 crore from ₹0.15 crore, while EPS rose to ₹1.92 from ₹0.02.
- Standalone and consolidated results remained closely aligned, with standalone PAT of ₹13.46 crore versus consolidated PAT of ₹13.54 crore.
Key concerns
- Stock broking revenue declined 10.3% YoY to ₹15.55 crore and the segment loss widened to ₹3.54 crore from ₹2.38 crore YoY.
- H1 operating cash flow was negative at ₹50.67 crore versus negative ₹2.34 crore in H1FY26, alongside trade receivables of ₹56.88 crore versus ₹27.96 crore at March 31, 2026.
- Earnings remain volatile: the prior quarter's consolidated revenue was ₹29.86 crore and PAT was ₹0.15 crore, compared with ₹54.24 crore revenue and ₹13.54 crore PAT this quarter.
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