Lloyds Enterpris Q1 FY27 Results (NSE: LLOYDSENT)
Signal: Growth reaccelerated
The read
The key inflection is a sharp operating-quality reset: consolidated revenue rose +70.1% YoY to ₹563.03 crore, but operating profit fell -60.8% to ₹112.59 crore and margin contracted by 2,770bps to 18.6%; PAT of ₹109.98 crore is less comparable because Q1FY26 included ₹282.11 crore of other income, while the parent contributed only ₹2.44 crore.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹563.03 Cr | +70.1% | -21.8% |
| EBIT | ₹112.59 Cr | -60.8% | |
| Net profit | ₹109.98 Cr | -55.8% | |
| EPS | ₹0.73 | -62.6% | |
| EBIT margin | 18.6% |
P&L walk
Revenue from operations increased to ₹563.03 crore, +70.1% YoY, but operating profit declined to ₹112.59 crore, -60.8% YoY, as raw materials and operating costs rose faster than revenue; PAT at ₹109.98 crore, -55.8% YoY, was supported by ₹13.40 crore of associate profit and was less distorted by other income than the prior year.
Segments
The consolidated result is materially subsidiary-led rather than parent-led: standalone PAT was only ₹2.44 crore versus consolidated PAT of ₹109.98 crore, while associates contributed ₹13.40 crore and non-controlling interests represented ₹51.40 crore of group profit; the filing names Real Estate, Steel, Engineering and Electrical segments but does not provide their segment table in the supplied text.
Key positives
- Consolidated revenue from operations increased +70.1% YoY to ₹563.03 crore, indicating materially higher group activity despite a -21.8% QoQ decline.
- Finance cost fell -20.1% YoY to ₹10.90 crore and -37.0% QoQ, reducing below-operating-profit pressure.
- Associate profit was ₹13.40 crore, +0.5% YoY and +63.2% QoQ, supporting the consolidated result.
- The current quarter's other income was only ₹2.41 crore versus ₹282.11 crore in Q1FY26, so current PAT is less dependent on a large treasury or non-operating gain.
Key concerns
- Gross margin fell to 30.8% from 54.0% YoY, while raw materials and components consumed rose +82.6% to ₹205.22 crore and increased to 36.4% of revenue from operations versus 34.0%.
- Operating profit declined -60.8% YoY to ₹112.59 crore despite revenue growth of +70.1%, showing that the direct-cost and mix burden overwhelmed scale benefits.
- Standalone PAT fell -98.9% YoY to ₹2.44 crore because standalone other income dropped to ₹10.88 crore from ₹265.85 crore, highlighting dependence on subsidiaries and investment income at the group level.
- Basic EPS declined -62.6% YoY to ₹0.73 versus PAT decline of -55.8%, with paid-up equity capital increasing to ₹152.53 crore from ₹127.21 crore.
- Depreciation increased +115.6% YoY to ₹7.20 crore, raising the fixed-asset charge without a disclosed asset-base or capex figure.
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