Gretex Corporate Q1 FY27 Results (NSE: GCSL)
Signal: Growth reaccelerated
The read
Consolidated results show a robust YoY turnaround from a loss in Q4FY26 to profitability, driven by subsidiary operations, but extreme sequential volatility and equity dilution warrant caution.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹37.52 Cr | 70.7% | -79.0% |
| EBIT | ₹17.12 Cr | 883.9% | -58.6% |
| Net profit | ₹9.33 Cr | 1111.7% | -66.6% |
| EPS | ₹3.97 | 845.2% | -66.6% |
| EBIT margin | 47.1% |
P&L walk
Consolidated P&L shows strong YoY growth but sequential decline; EBITDA margin expanded to 47.1% from 7.83% a year ago, but QoQ EBITDA fell 59.3% on a 79% revenue drop, indicating lumpy business.
Key positives
- Consolidated PAT surged +1111.7% YoY to ₹9.33 Cr, reversing Q4FY26 loss of ₹21 Cr.
- EBITDA margin expanded to 47.1% from 7.83% a year ago, indicating improved operating efficiency.
- EPS grew 845.2% YoY to ₹3.97.
Key concerns
- Revenue declined 79% QoQ to ₹37.52 Cr, highlighting lumpy business model.
- EPS growth significantly lagged PAT growth due to equity dilution (share count up 6.7%).
- Substantial minority interest of ₹3.47 Cr (27% of group PAT) reduces attributable profit.
- Standalone revenue declined 2.8% YoY, indicating core capital market activity weakness.
Research and educational content only. Not investment advice.