Nila Infrastruct Q1 FY27 Results (NSE: NILAINFRA)
Signal: Margin expansion
The read
The operating trajectory improved despite revenue falling 19.87% YoY to ₹7420.43 lakh: EBITDA increased 57.6% to ₹1152 lakh and margin expanded 598bps to 15.5%, reversing the 9.52% OPM in Q1FY26 and following the 10.45% margin in Q4FY26; however, other income of ₹404.20 lakh was 39% of consolidated PBT and the XBRL PAT value of zero conflicts with the statement's ₹761.96 lakh profit-after-tax line.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹74.2 Cr | -19.87% | -8.43% |
| EBIT | ₹11.11 Cr | N/A | |
| Net profit | ₹0 Cr | N/A | |
| EPS | ₹0.21 | +23.5% | |
| EBIT margin | 15.5% |
P&L walk
Consolidated revenue declined to ₹7420.43 lakh, -19.87% YoY and -8.43% QoQ, but EBITDA rose to ₹1152 lakh and margin expanded to 15.5%, while other income of ₹404.20 lakh represented 39% of reported PBT and the XBRL PAT field is inconsistent with the statement.
Segments
No segment-results table is disclosed; consolidated EBITDA of ₹1152 lakh exceeded standalone EBITDA of ₹1064 lakh by ₹88 lakh, indicating a positive but unquantified contribution from subsidiaries, joint ventures or associates.
Key positives
- Consolidated EBITDA reached ₹1152 lakh, +57.6% YoY, while revenue declined 19.87% to ₹7420.43 lakh; EBITDA margin expanded 598bps to 15.5%.
- EPS rose 23.5% YoY to ₹0.21 and 40.0% QoQ from ₹0.15, indicating stronger attributable earnings in the statement despite the XBRL PAT inconsistency.
- Consolidated EBITDA exceeded standalone EBITDA by ₹88 lakh, suggesting group entities added to operating profit.
Key concerns
- Revenue declined 19.87% YoY to ₹7420.43 lakh and 8.43% QoQ, with no bookings, pre-sales, collections or volume data disclosed to establish whether the slowdown is temporary.
- Finance costs rose 88.6% YoY to ₹76.43 lakh despite lower revenue, increasing pressure on project economics.
- The XBRL reports consolidated PAT of ₹0 lakh, while the financial statement reports ₹761.96 lakh profit after tax and ₹679.09 lakh attributable profit; this must be reconciled before relying on reported earnings.
Earnings quality: includes non-operating other income
Research and educational content only. Not investment advice.