Tata Inv.Corpn. Q1 FY27 Results (NSE: TATAINVEST)
Signal: Steady quarter
The read
Consolidated PAT slipped 1.9% YoY as fair value gains turned negative, but dividend income growth and high OPM (92.6%) sustained profitability; standalone business saw strong dividend-driven revenue growth of 22.6%; the massive OCI of ₹4,164.87 Cr (mark-to-market gains on equity holdings) boosted NAV to ₹655.50 per share, a 15% increase from March 2026.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹151.66 Cr | 4.3% | -61.8% |
| EBIT | ₹139.41 Cr | N/A | |
| Net profit | ₹143.51 Cr | -1.9% | |
| EPS | ₹2.84 | N/A | |
| EBIT margin | 92.6% |
P&L walk
Revenue grew 4.3% YoY on higher dividend and interest income, partially offset by net loss on fair value changes; EBITDA margin remained high at 92.6%; PAT declined 1.9% YoY largely due to lower fair value gains; EPS trend is unclear from available data.
Key positives
- Standalone dividend income surged 51% YoY to ₹205.83 Cr, indicating strong cash flow from portfolio holdings.
- EBITDA margin remained high at 92.6% (consolidated) and 95% (standalone), reflecting low-cost operations.
- NAV per share rose 15% QoQ to ₹655.50, driven by ₹4,164.87 Cr OCI from fair value gains on equity investments.
- Standalone PAT grew 17.7% YoY to ₹163.89 Cr, with no exceptional items.
Key concerns
- Consolidated PAT declined 1.9% YoY as net fair value changes turned into a loss of ₹9.99 Cr vs a gain of ₹23.36 Cr a year ago.
- Consolidated revenue dropped 61.8% QoQ due to seasonal dividend patterns (Q4 includes annual special dividends).
- The XBRL extract shows an anomalous EPS growth of -90.2% vs PAT -1.9%, requiring clarification.
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