IST Q1 FY27 Results (NSE: ISTLTD)
Signal: Steady quarter
The read
The headline inflection is a return to positive consolidated PAT of ₹8311 lakh, up 14.9% YoY, after the prior Q4FY26 loss of ₹950 lakh; nevertheless, ₹8692 lakh of other income represented 87.6% of PBT, so the improvement is not yet evidence of a durable auto-component operating recovery.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹34.89 Cr | 18.7% | N/A |
| EBIT | ₹101.28 Cr | 9.8% | |
| Net profit | ₹83.11 Cr | 14.9% | |
| EPS | ₹71.25 | 14.9% | |
| EBIT margin | 294.6% |
P&L walk
Consolidated revenue was ₹3489 lakh, up 18.7% YoY, while EBITDA of ₹10280 lakh rose 9.8% and EBIT of ₹10128 lakh rose 9.8%; the unusually high ₹8692 lakh other income, equal to 87.6% of PBT, explains the earnings profile.
Segments
The consolidated result is materially subsidiary-led: the wholly owned subsidiary reported ₹7156.65 lakh of total income and ₹4806.67 lakh of PAT, while the associate contributed ₹6.06 lakh of PAT; the filing therefore indicates earnings are concentrated outside the standalone manufacturing entity.
Key positives
- Consolidated revenue reached ₹3489 lakh, up 18.7% YoY, reversing the prior Q4FY26 revenue decline of 2.5% YoY.
- Standalone revenue grew 35.1% YoY to ₹1047 lakh and standalone PAT grew 23.1% YoY to ₹3498 lakh.
- PAT and EPS both grew 14.9% YoY, with consolidated EPS at ₹71.25, showing no disclosed EPS dilution relative to PAT.
- The wholly owned subsidiary contributed ₹4806.67 lakh of PAT on ₹7156.65 lakh of total income, materially supporting consolidated earnings.
Key concerns
- Other income was ₹8692 lakh, equal to 87.6% of consolidated PBT, making the ₹8311 lakh PAT heavily dependent on non-operating income.
- Standalone other income was ₹3978 lakh, or 96.4% of standalone PBT, so the ₹3498 lakh standalone PAT also does not represent manufacturing operating earnings alone.
- Consolidated EBITDA of ₹10280 lakh rose only 9.8% YoY despite revenue growth of 18.7% YoY; the filing does not establish that the operating business generated the reported margin.
Earnings quality: includes non-operating other income
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