Navkar Corporat. Q1 FY27 Results (NSE: NAVKARCORP)
Signal: Margin expansion
The read
Q1FY27 showed a strong operating leverage story: 37.8% revenue growth, 300bps EBITDA margin expansion, and 402% PAT surge. The sequential decline from Q4FY26 is typical for logistics seasonality, but the YoY momentum is robust.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹190.75 Cr | 37.8% | -5.0% |
| EBIT | ₹19.65 Cr | 156.2% | |
| Net profit | ₹12.28 Cr | 401.8% | |
| EPS | ₹0.82 | 412.5% | |
| EBIT margin | 10.30% |
P&L walk
Revenue grew 37.8% YoY, while employee costs (+11.5%), depreciation (+12.6%) and finance costs (-16.6%) grew far slower, delivering 300bps EBITDA margin expansion and 402% PAT growth.
Key positives
- Revenue grew 37.8% YoY to ₹19,075 lakh, driven by strong CFS/ICD volumes.
- EBITDA margin expanded 300bps YoY to 18.18% on operating leverage (employee costs +11.5%, depreciation +12.6%, finance costs -16.6% vs revenue +37.8%).
- PAT surged 401.8% YoY to ₹1,228 lakh, with EPS rising to ₹0.82 from ₹0.16.
- Finance costs declined 16.6% YoY, improving bottom-line sensitivity.
Key concerns
- Sequential revenue declined 5.0% QoQ from Q4FY26, indicating seasonal softness.
- Gross margin contracted 35bps YoY as operating expenses grew in line with revenue.
- Net profit fell 12.2% QoQ due to higher deferred tax and lower sequential revenue.
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