NDL Ventures Q1 FY27 Results (NSE: NDLVENTURE)
Signal: Earnings declined
The read
The trajectory remains non-operating and fragile: revenue from operations was ₹0 lakh, other income was ₹126.94 lakh or the entire top line, and PAT fell 63.3% YoY to ₹8.88 lakh as total expenses rose 37.4% YoY to ₹115.42 lakh; the principal potential inflection is the proposed HLEL merger, but final NCLT and regulatory sanction is still pending.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹0 Cr | N/A | N/A |
| EBIT | ₹0.12 Cr | -62.5% | |
| Net profit | ₹0.09 Cr | -63.3% | |
| EPS | ₹0.03 | -57.1% | |
| EBIT margin | N/A |
P&L walk
Standalone income was ₹126.94 lakh, entirely from other income because operating revenue was ₹0 lakh; expenses rose 37.4% YoY to ₹115.42 lakh, reducing PBT to ₹11.52 lakh from ₹32.30 lakh and PAT to ₹8.88 lakh from ₹24.18 lakh.
Key positives
- Finance costs remained ₹0 lakh, while employee benefits expense was ₹45.48 lakh, up only 1.6% YoY versus total expenses growth of 37.4% YoY.
- The proposed HLEL merger received requisite shareholder approval at the July 30, 2026 meeting after the June 17, 2026 NCLT order; final sanction remains the next milestone.
Key concerns
- Operating revenue remained ₹0 lakh, leaving the ₹126.94 lakh top line entirely dependent on other income.
- PAT fell 63.3% YoY to ₹8.88 lakh while other income represented 1,058.3% of PBT, making reported earnings heavily non-operating.
- Other expenses rose 78.3% YoY to ₹69.94 lakh, materially faster than the 9.2% growth in other income.
- The proposed merger remains subject to final sanction from the NCLT and other regulatory authorities, so no merger impact has yet been reflected in the results.
Earnings quality: includes non-operating other income
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