DigiSpice Tech. Q1 FY27 Results (NSE: DIGISPICE)
Signal: Revenue declined
The read
The operating trajectory improved on margin but not on demand: consolidated revenue fell 12.9% YoY to ₹107.75 Cr, while EBITDA reached ₹14.69 Cr at a 13.6% margin. However, PAT of ₹6.48 Cr was not purely operational because other income was ₹6.12 Cr, or 59.6% of PBT, and an exceptional item represented a further 20.3% of PBT; the next inflection to monitor is whether the margin recovery persists without non-operating support.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹107.75 Cr | -12.9% | N/A |
| EBIT | ₹12.72 Cr | N/A | |
| Net profit | ₹6.48 Cr | -6.5% | |
| EPS | ₹0.28 | -3.5% | |
| EBIT margin | 13.6% |
P&L walk
Consolidated revenue was ₹107.75 Cr, down 12.9% YoY, while EBITDA was ₹14.69 Cr at a 13.6% margin; PAT of ₹6.48 Cr was supported materially by ₹6.12 Cr of other income and an exceptional item equal to 20.3% of PBT.
Segments
The consolidated result is materially stronger than the parent: standalone PAT was a ₹2.79 Cr loss while consolidated PAT was ₹6.48 Cr, although 14 subsidiaries together reported ₹4.67 lakh of revenue and a ₹41.88 lakh net loss in the review disclosures.
Key positives
- EBITDA was ₹14.69 Cr at a 13.6% margin, indicating a meaningful operating-margin recovery despite revenue declining 12.9% YoY to ₹107.75 Cr.
- Consolidated PAT remained positive at ₹6.48 Cr while the parent reported a ₹2.79 Cr standalone loss, confirming that the subsidiary platform remains the main earnings engine.
- EPS of ₹0.28 declined only 3.5% YoY versus PAT decline of 6.5%, with no material EPS dilution signal from the disclosed figures.
Key concerns
- Revenue declined 12.9% YoY to ₹107.75 Cr, reversing the growth seen in the prior-year quarter and leaving demand momentum unproven.
- Other income of ₹6.12 Cr represented 59.6% of PBT and an exceptional item represented 20.3% of PBT, so ₹6.48 Cr PAT overstates the underlying quality of operating earnings.
- Standalone revenue was ₹0 and standalone PAT was a ₹2.79 Cr loss, underscoring the group's dependence on subsidiaries rather than the parent entity.
Earnings quality: includes other income and an exceptional item
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