Suryoday Small Q1 FY27 Results (NSE: SURYODAY)
Signal: Steady quarter
The read
The operating trajectory improved: total income rose 27.6% YoY to ₹77,022 lakh, pre-provision operating profit grew faster at 36.6% to ₹13,856 lakh, and provisions fell 40.9% to ₹3,666 lakh; however, gross NPA rose to 6.60% from 6.55% sequentially and net NPA to 1.27% from 1.21%, so the lower credit-cost benefit needs confirmation.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | 77,022 lakh | +27.6% | +11.3% |
| EBIT margin | 0% |
P&L walk
Total income rose to ₹77,022 lakh, up 27.6% YoY, and pre-provision operating profit reached ₹13,856 lakh, up 36.6%; provisions fell 40.9% YoY to ₹3,666 lakh, but the XBRL block does not report PAT or EPS.
Segments
Retail Banking drove the result with segment revenue of ₹72,294 lakh and segment profit of ₹10,827 lakh, while Corporate remained loss-making at ₹1,479 lakh despite revenue of ₹4,615 lakh.
Key positives
- Total income reached ₹77,022 lakh, up 27.6% YoY and 11.3% sequentially.
- Pre-provision operating profit grew 36.6% YoY to ₹13,856 lakh, 9.0 percentage points faster than total income growth.
- Interest expended rose 23.6% YoY to ₹30,663 lakh, slower than the 27.6% total-income increase.
- Provisions declined 40.9% YoY to ₹3,666 lakh, providing a material lift to pre-tax profitability.
- Retail Banking generated ₹10,827 lakh of segment profit on ₹72,294 lakh of revenue and represented the main earnings engine.
- Capital adequacy remained high at 20.03% despite declining 458bps YoY.
Key concerns
- Gross NPA increased to 6.60% from 6.55% sequentially, reversing part of the YoY improvement from 8.46%.
- Net NPA rose to 1.27% from 1.21% sequentially despite remaining below 1.27%?
- Corporate Banking reported a ₹1,479 lakh segment loss on ₹4,615 lakh of revenue, the largest segment drag.
- Capital adequacy declined to 20.03% from 24.61% YoY and 20.45% sequentially, reducing the capital buffer.
- The filing does not provide explicit FY27 credit-cost guidance, so the prior 0.8%-1.0% guidance claim remains unresolved.
Research and educational content only. Not investment advice.