SIL Investments Q1 FY27 Results (NSE: SILINV)
Signal: Margins at cyclical peak
The read
The earnings rebound is substantial—consolidated total income ₹2,375 lakh, +73.7% YoY, and PAT ₹2,054 lakh, +150.7%—but the trajectory remains market-value driven: fair-value gains contributed ₹1,941 lakh versus ₹813 lakh last year, while interest income grew only 1.0% to ₹386 lakh and dividend income fell 54.8% to ₹28 lakh.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹23.75 Cr | +73.7% | N/A |
| Net profit | ₹20.54 Cr | +150.7% | |
| EPS | ₹19.09 | +155.6% | |
| EBIT margin | 0% |
P&L walk
Consolidated total income rose to ₹2,375 lakh, +73.7% YoY, as fair-value gains increased to ₹1,941 lakh, while total expenses fell 8.2% to ₹292 lakh and PAT rose 150.7% to ₹2,054 lakh; recurring interest income was broadly flat at ₹386 lakh.
Segments
No reportable segment split was disclosed; consolidated PAT of ₹2,054 lakh exceeded standalone PAT of ₹1,247 lakh by ₹807 lakh, with subsidiaries contributing materially to the group result.
Key positives
- Consolidated PAT increased 150.7% YoY to ₹2,054 lakh, following the Q1FY26 PAT of ₹819 lakh and reversing the Q4FY26 loss of ₹946 lakh.
- Consolidated EPS rose 155.6% YoY to ₹19.09 and closely tracked owner-attributable PAT growth of 155.3%, indicating no material dilution signal.
- Total expenses declined 8.2% YoY to ₹292 lakh while total income increased 73.7% to ₹2,375 lakh, improving the reported earnings conversion.
Key concerns
- Fair-value gains of ₹1,941 lakh represented 81.7% of consolidated total income and rose 138.6% YoY, making reported profitability sensitive to investment-market movements rather than recurring interest income.
- Interest income increased only 1.0% YoY to ₹386 lakh, while dividend income declined 54.8% to ₹28 lakh, indicating weak growth in recurring portfolio income.
- Consolidated results include subsidiaries that contributed materially to the group outcome, but the filing states that two subsidiaries and two step-down subsidiaries were reviewed by other auditors and one foreign subsidiary was not reviewed by the reporting auditor.
Research and educational content only. Not investment advice.