Billionbrains Q1 FY27 Results (NSE: GROWW)
Signal: Margin expansion
The read
Revenue growth of 66% YoY with EBITDA margin expanding 1080bps to 67.3% on operating leverage; PAT up 94% but EPS lagged at 80% due to ESOP dilution. QoQ revenue was flat, hinting at possible seasonality or plateauing after a strong run.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,501.42 Cr | 66.0% | -0.3% |
| Net profit | ₹735.04 Cr | 94.3% | |
| EPS | ₹1.19 | ||
| EBIT margin | 67.3% |
P&L walk
Operating leverage drove margin expansion; revenue growth 66% YoY while employee + other expenses grew only 26% YoY; PAT boosted by higher other income and lower finance cost.
Key positives
- Revenue up 66% YoY to ₹1,501 Cr, showing strong platform adoption.
- EBITDA margin expanded 1080bps YoY to 67.3% on cost discipline.
- PAT up 94% YoY to ₹735 Cr, driven by operating leverage and higher other income.
- Employee cost as % of revenue fell to 12.1% from 15.1% YoY.
Key concerns
- QoQ revenue flat (-0.3%), suggesting possible slowdown or seasonality.
- EPS growth (80%) lags PAT growth (94%) due to ESOP dilution (1.24 Cr shares transferred).
- High valuation at P/E 63.6x vs industry P/E 20.8x; PEG 0.96 implies growth priced in.
Research and educational content only. Not investment advice.