Hitech Corp. Q1 FY27 Results (NSE: HITECHCORP)
Signal: Margin pressure
The read
The key inflection is revenue growth accelerating to +36.9% YoY from +15.6% in Q1FY26, but EBITDA margin fell 162bps YoY to 10.8% after 12.87% in Q4FY26; PAT growth of +49.7% is positive, yet the margin giveback and EPS growth of +34.0% versus PAT growth of +49.7% warrant confirmation that growth is converting sustainably.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹225.67 Cr | +36.9% | +35.9% |
| EBIT | ₹14.3 Cr | N/A | |
| Net profit | ₹7.11 Cr | +49.7% | |
| EPS | ₹4.14 | +34.0% | |
| EBIT margin | 10.8% |
P&L walk
Consolidated revenue increased to ₹22,566.87 lakh, +36.9% YoY and +35.9% QoQ, while EBITDA margin fell to 10.8% from 12.42% YoY and 12.87% in Q4FY26; PAT still rose to ₹710.86 lakh, +49.7% YoY, helped by the larger operating base rather than margin expansion.
Segments
No segment table is disclosed; consolidated PAT of ₹710.86 lakh exceeded standalone PAT of ₹618.13 lakh by ₹92.73 lakh, showing a positive but modest subsidiary contribution to group earnings.
Key positives
- Consolidated revenue reached ₹22,566.87 lakh, +36.9% YoY, accelerating from +15.6% in Q1FY26 and +11.2% in Q4FY26.
- Consolidated PAT increased to ₹710.86 lakh, +49.7% YoY, while standalone PAT grew 81.8% to ₹618.13 lakh.
- Standalone revenue grew 38.0% YoY to ₹21,083.64 lakh, outpacing consolidated revenue growth of 36.9% YoY.
Key concerns
- EBITDA margin fell to 10.8%, down 162bps YoY and 207bps QoQ from 12.87% in Q4FY26; the filing does not explain the contraction.
- Consolidated EPS grew 34.0% to ₹4.14, materially below 49.7% PAT growth to ₹710.86 lakh, creating an earnings-quality divergence despite unchanged paid-up capital of ₹1,717.57 lakh.
- Standalone EBITDA grew 22.5% YoY while standalone revenue grew 38.0% YoY, indicating weaker operating conversion at the parent level.
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