Concalls
Earnings-call transcripts and summaries.
Suzlon delivers record 506 MW but warns on margins
The order book swelled to 6.1 GW, driven by the DevCo model, but management's capex hike and logistics concerns keep the story grounded.
Birlasoft delays manufacturing turnaround, guides FY27 margin at 15%
Q1 concal reveals manufacturing recovery pushed to Q3, wage hike to hit Q2 margin. Deal signings hit $169M, up 20% YoY, but EBITDA margin guidance drops sharply from recent above-18% levels.
D.P. Abhushan Q1 profit jumps 77%, revenue up 58%; transcript adds no fresh news
The jeweller reported strong quarterly numbers earlier; the earnings call transcript released today is a procedural record, not a price-sensitive disclosure.
Bhagyanagar slashes FY27 volume growth target to 12-15% on supply hiccups
Q1 revenue crosses ₹700 cr but management flags April-May disruption; demerger hearing delayed, preferential issue first tranche due in August
Fabtech cuts organic revenue growth guidance to 20-25% from 30%
Management cites project phasing; European acquisition pushed to fiscal year-end. Q1 profitable with improved margins.
HEG Q1 PAT jumps 53% on better electrode mix, price hikes back-ended
Revenue rose 11% to ₹681 cr. Global price hikes of $600-1,200/t benefit seen from H2. Anode plant on track for April 2027.
Hindustan Zinc posts record Q1 revenue of ₹13,747 cr, net profit jumps to ₹5,469 cr
The Vedanta group company's Q1 FY27 earnings call also covered CEO transition, a new CFO, capacity expansion, and a rare-earth lease win.
Supreme Industries Q1 volume slump 14%; management keeps full-year target
Q1 piping volume fell 14% YoY on polymer volatility and destocking. Management maintains 15-17% full-year growth, citing July restocking.
Home First reaffirms 25% AUM growth, CFO to step down
Q1 AUM hit ₹16,938 cr, up 25.7%. CFO Nutan Gaba Patwari leaves after eight years; board considering replacements.
Dachepalli cuts FY27 revenue guidance without explanation
Management trimmed the top end to ₹150 cr from ₹165 cr and gave conflicting turnover estimates of up to ₹250 cr on the Q1 call.
Fairchem lowers utilisation target, flags margin risk from Chinese dumping
Q1 revenue of ₹176 cr and 10.1% EBITDA margin, but management cuts FY27 capacity exit target to 70-75% and warns margin gains may not stick.
Knowledge Realty Trust grows NOI 15%, DPU on track
Gross leasing of 1.4M sq ft, 25% mark-to-market, 93% committed occupancy: steady operations. Full-year DPU guidance intact despite slight construction delay.
Indoco cuts debt target, USFDA audit still open
Q1 EBITDA margin improved to 10.3% from 3.8%, but management lowered near-term debt repayment goal by ₹30 crore and gave no timeline for USFDA clearance.
PN Gadgil targets 25 new stores, 7% margin in FY27
Management laid out a clear roadmap: 25 store additions, 7% EBITDA margin, and debt below ₹1,000 crore by FY29. The concall fleshed out details after Q1 results showed 41% revenue growth.
ZF CVCS India lands ESC nominations from three OEMs
Q1 revenue up 9.3% to ₹1,066 cr, but PAT slips 14.7% on forex base. Margin under pressure at 12.5% as commodity costs bite.
VBL locks in PepsiCo until 2049, Q2 revenue up 20%
Varun Beverages posted 20.4% revenue growth to ₹84,512 mn and secured a long-term PepsiCo bottling extension removing sole-bottler restrictions. Twizza boosted international volumes but compressed margins.
Manba withdraws PAT target, plans ₹100 cr preference share issue
Q1 revenue of ₹93 cr, up 34% YoY, but management declines to repeat earlier ₹65-70 cr PAT guidance. Now targets 35-40% AUM growth, ROA 3.5%.
Mphasis holds FY27 steady as Tria platform shows early traction
Q1 revenue of $471M, up 2.1% sequentially. Growth guidance of 8-12% and EBIT margin of 14.75-15.75% reaffirmed.
CSM Tech EBITDA jumps 57% to ₹48 cr, margins hit 21%
Cost discipline and international projects pushed margins to 21% from 15% a year ago. Order book at ₹358 cr offers over two years of revenue, but DSO rose to 129 days.
Gravita cuts PAT guidance to 25-30%, net debt jumps to ₹550 cr
Copper expansion drives debt surge from ₹118 cr. Lead volumes hit by Gulf shipping disruptions. Management prioritises copper over rubber recycling.
Aeroflex Q1 revenue jumps 72% but skid capacity delayed by 4-5 months
Record consolidated revenue of ₹146 cr with 23% EBITDA margin; liquid cooling kit drives 23% of sales. Expansion of skid capacity to 15,000 units now pushed to Oct-Nov.
Digitide drops revenue guidance, doubles operating margin target to 200 bps
Q1 described as margin trough at ₹775 cr revenue. Management pivots from growth to profitability, withdrawing previous double-digit guidance and targeting 200 bps operating margin improvement for FY27.
Tilaknagar Q1 margin hits 16.6%, flags ₹33 cr gap in prior exceptional
Tilaknagar's Q1 FY27 net revenue crossed ₹1,000 cr for the first time, but the call revealed a ₹33 cr gap in how last quarter's exceptional expense was reported.
Nelcast sees margin recovery, new products to add ₹250 cr run-rate
After Q1 EBITDA slumped to ₹9.5 per kg, management set a full-year target of ₹15. Three new programmes aim for ₹200-250 crore annual run-rate by Q4.
Iris Clothings Q1 EBITDA surges 53% as kidswear volumes drive growth
EBITDA hit ₹8 crore on a 17.1% margin, with management guiding 35% revenue growth for FY27 and a proposed 51% stake in athleisure brand Infinea.
Ujjivan SFB lifts ROA target, cuts credit cost view for FY27
Management now sees return on assets at 1.8-2% for FY27, credit cost at 0.9-1% of assets, and opex at 6.4%. Secured loans cross 50% of the book, deposits grow 25%.
CCL defers small-pack capex, sticks to 15% volume guidance
Q1 volumes rose 20% but management is cautious on coffee-price volatility. Net debt down to ₹963 cr. EBITDA guidance steady at ₹135-140/kg.
SAIL's Q1 concall confirms margin jump, capex ramp-up
EBITDA surged 50%+ to ₹4,356 cr with 16.7% margin. Management raised capex guidance to ₹20,000+ cr next year and ₹25,000–26,000 cr thereafter. No new surprises beyond already-disclosed numbers.
Coforge lifts FCF conversion target to >100%, flags strong Encora payoffs
First Encora quarter delivered ₹5,528 cr revenue and $2.2B order book; now management sees FY27 FCF >100% of PAT, EBIT margin above 15.5%.
Tata Chemicals posts ₹17 cr loss, delays salt plant to 2028
Revenue rose 14% but soda ash oversupply kept net income in the red; the Valinokkam salt plant now starts in early 2028, and US exports to SE Asia remain at break-even.
JSW Energy adds record 1.1 GW in Q1, PAT slips on costs
Transcript confirms aggressive capacity additions and Maruti Clean Coal deal, but flattish revenue/EBITDA and falling PAT show cost headwinds from growth.
C2C's new CEO targets 80% of overdue receivables by September
Krishna Chandra took over and immediately collected ₹25 cr. Now he wants 80% of overdue receivables cleared in two months, backed by a new no-long-payment-cycle policy.
Senores Pharma targets 50-60% PAT growth after Q1 beat
Revenue rose 36% to ₹180 cr, PAT up 56% to ₹31 cr. Management guided for full-year PAT growth of 50-60% and plans to commercialize 35 ANDAs over 18-20 months.
Epigral bets ₹600 cr on epoxy, lifts growth target to 20%
Q1 revenue rose 15% to ₹709 cr with 25% margin as board clears forward integration into epoxy resins. Management targets ₹5,000 cr top line at optimal capacity.
Mold-Tek posts record ₹46.7/kg EBITDA; lube volumes drop 17%
Revenue crosses ₹300 cr for the first time, but base-oil shortages at private customers pulled lubricant tonnage down. Management now guiding to ₹90 cr capex and 18-20% EBITDA growth.
Rallis Q1: Domestic up 19%, exports still a drag
Transcript confirms 7% revenue growth to ₹1,022 cr and 23% EBITDA jump, but exports fell 28%. No new guidance or surprises.
Zen Tech misses margin target, trims order outlook
Q1 revenue of ₹142 crore and EBITDA margin of 27.3% missed the 35% guide. The year-end order book target was cut to ~₹2,500 crore from ₹2,500-3,000 crore, citing government procurement delays.
RR Kabel logs record Q1, eyes double-digit margins
Revenue jumps 54% to ₹3,168 crore; FMEG hits operating breakeven for the first time. Management lifts FY27 margin guidance for wires and cables above 9.5%.
Share India targets 20% revenue growth, lifts PMS AUM goal to ₹250 cr
Q1 FY27 concall: management guided ~20% revenue growth, raised PMS AUM target to ₹250 cr, set MTF target of ₹1,000 cr over two years, and plans 30 Tier-3 branches with 8-month break-even.
BEL walks through QRSAM delay, keeps FY27 targets
The missile order slips to September, but management reaffirms 15% revenue growth, 28% margin, and over ₹55,000 cr in new orders. No fresh news beyond what was already known.
Emerald Finance EWA hits ₹26 cr monthly run rate
Gold loan distribution slips to ₹290 cr on RBI curbs, but EWA now 10.5% of business mix. FY27 EPS guidance of ₹7 reaffirmed.
Stylam Q1 transcript confirms 21.3% EBITDA margin, plant timeline
The transcript of Stylam's Q1 FY27 concall adds no new material information. The new laminate plant is set for early September commissioning with a conservative first-year utilisation of 30%.
Canara Bank lifts deposit guidance, triples digital spend to ₹3,000 cr
The PSB now sees deposits growing 10-12% this fiscal and plans to spend over ₹3,000 crore annually on digital, up from ₹1,000 crore flagged in January. Seasonal PSLC income will drop sharply next quarter.
V-Mart Q1: 23% revenue growth, but nothing new for markets
Same-store sales up 9%, Unlimited jumps 33%, LimeRoad losses shrink 39%. Gross margin slips 80 bps. The call was on July 27; this filing is a recap.
LMW's ATC backlog surges, machine tool margins lag
Q1 revenue jumped 24% to ₹891 crore, but management flagged margin pressure in the machine tool segment with no recovery timeline.
SMC Global Q1 PAT up 22%, insurance broking lifts revenue
Operational income ₹515 cr. Insurance broking jumps 44%. NBFC AUM dips on secured pivot. Aspirational targets, data gaps.
Ganesh Housing posts 86% Q1 revenue jump, guides ₹1,000-1,200 cr for FY27
Management guided FY27 revenue of ₹1,000-1,200 crore and PAT of ₹300-325 crore, driven by the Thaltej 191 land sale. However, launch timelines for Godhavi township and MillionMinds residential slipped.
Huhtamaki India sales jump 23%, but warns of inventory boost
Q2 CY26 sales of ₹723 cr and EBITDA margin of 10.5% beat prior trend, but management says part of the growth came from customer stockpiling ahead of price rises and could unwind. Renewable energy project delayed.
Vedant Fashions Q1 revenue up 7.2%, accelerates store closures
Q1 revenue ₹3,014M, domestic SSSG 3.8%. Full-year net store additions positive; high-single-digit SSSG expected for remaining 9 months.
Tanfac targets 60%+ revenue growth in FY28 on HFC-32 plant
Tanfac's Q1 revenue rose 6.3% to ₹187 cr, but the real news is its FY28 revenue target of over 60% growth, backed by a ₹1,500-1,700 cr capex plan and a 20,000 MTPA HFC-32 plant 60% complete.
Associated Alcohols IMFL proprietary volumes surge 40%, RTD delayed
The CP series drove a 40% Q1 surge in IMFL proprietary sales, pushing the share to 23%. But the RTD launch was postponed with a 330ml can and ₹120 price; ethanol margins remain squeezed.
GRP lifts volume guidance as Q1 revenue climbs 26%
Reclaim rubber near 20% growth, plastics above 20%. Management lays out ₹90-100 cr capex for pyrolysis and carbon black plants.
Shriram Finance Q1 transcript is a record, not news
The transcript of the July 24 call adds no new information beyond what was already shared during the live event and results press release.
Shakti Pumps pushes solar plant deadlines; eyes ₹5,000 cr revenue by 2029
Q1 revenue rose 38% to ₹859 cr but capex timeline stretches to 2027; margins remain under pressure with no three-year target.
Canarys revenue jumps 121%, order book hits ₹441 cr
Revenue more than doubled to ₹200 crore and the order book hit a record ₹441 crore, powered by the Kotira acquisition and new AI products. But with a market cap of just ₹123 crore, execution risk is high.
Prudent's Q1 concall confirms known numbers, no surprises
Revenue up 18.3%, PAT up 44.4%, gross yield settled at 88 bps. But results were disclosed two days earlier; the call added no material new information.
3i Infotech's RailTel project goes to arbitration; Q1 margins improve
The long-pending RailTel project, once expected to restart in weeks, is now headed to arbitration. Q1 revenue at ₹178 cr, net profit ₹6.5 cr, gross margins expanded to 14.4%.
Regency Fincorp targets ₹500-550 cr AUM by FY27 as loan book surges
Secured MSME book rose 44% sequentially to ₹230 cr. Digital lending app 'Cash My Salary' hits ₹23 cr. Full-year PAT guided at ₹25-30 cr.
KFin Tech cuts FY27 revenue growth guidance to 18-20%
International organic growth outlook slashed to >32% from >60%. Philippines contract status reversed. Ascent margin timeline accelerated to 12 months.
Orient Green Power's promoter pledge release slips to FY27, Andhra dispute deepens
The pledge release target is now end-FY27, and the company has set aside ₹6.5 crore against a ₹20 crore interest dispute with Andhra Pradesh. Revenue fell 7% in Q1.
Paytm transcript reinforces margin ambition, AI push
Q1 FY27 earnings call transcript filed; no new numbers but management reiterated 28% revenue growth and 15-20% EBITDA margin target.
Five-Star lifts credit cost view, trims ROA target despite record lending
Record ₹1,496 cr quarterly disbursements, but credit cost guidance raised to 1.9% and ROA target cut to 6.0%-6.5% as technical write-offs loom.
Kross hits record Q1 revenue, but production targets slip
Revenue rose 32% to ₹185 crore, but tipping jack output reached only ~200 kits against a 300-unit target. Rear axle shaft supply milestone moderated. Management guides 40-45% export growth for FY27.
IndiaMART Q1 transcript confirms revenue up 11%, supplier count drops 1,850
IndiaMART's Q1 FY27 transcript adds no material new information beyond the earnings release. Revenue hit ₹414 crore; paying suppliers fell by 1,850, led by silver-tier churn.
SBFC Finance sees small-loan stress, guides credit costs higher
CEO flags loan conversion drop to ~35% and rising household debt. Q1 AUM up 27% to ₹11,922 cr, PAT up 29% to ₹130 cr, NIM at 10.6%.
AU Small Finance Bank Q1 profit up 37%, targets ROA lift
Net profit at ₹796 crore; deposits grow 24%. Management guides for ROA improvement to 1.8% and adds 100+ branches.
Birla Corp pulls FY27 EBITDA guidance on cost surge
Two months after issuing a profit forecast, management retreats as fuel and packaging costs add ₹150 per ton in Q1 and threaten another ₹70–80 per ton in Q2. Soft pricing in Central India and Mukutban logistics snags compound pressure.
Atlanta Electricals Q1 transcript: no surprises
Transcript of the 22 July concall confirms the 48% revenue growth and 16.5% margin already disclosed; no incremental price-sensitive information.
TARIL's earnings call transcript: procedural filing, no new data
The transcript of the July 21 call filed today contains no incremental information. The record ₹6,630 cr order book, 25% revenue guidance, and ₹1,000 cr PGCIL order were all disclosed during the live event.
Onesource reverses stance on DDC contracts, accelerates capacity
In Q1 FY27 concall, management reveals it is now accepting new manufacturing service agreements after prioritizing commercial sales, and pulls forward soft-gelatin fill timeline to 12-15 months.
Bandhan Bank slashes ROA target, tech costs surge 65%
New ROA guidance of **1.2%-1.4%** for Q4 FY27 replaces earlier **1.6%-1.8%**; NIM improvement hopes dropped as tech spending becomes structural.
Cyient DLM lands record order book, expands into AI data centers and robotics
Q1 revenue jumps 34.3% to ₹373.8 crore; normalized EBITDA margin at 10.5%. Record order book of ₹2,598 crore and 1.5x book-to-bill signal sustained momentum.
Union Bank hits record ₹5,332 cr profit, NIM widens to 2.80%
Management details ECL provision of ₹11,500 cr phased over four years, sheds high-cost deposits to lift NIM, and targets credit growth at industry-plus-1%.
NIIT Q1 PAT surges 85%; call summary flags CAPEX reversal
Revenue up 14% to ₹957M, AI-led revenue hits 9%. But a consistency check in the call summary notes reversed CAPEX guidance, delayed merger timeline, and unreconciled headcount.
ACE posts record Q1 but withholds FY27 guidance
Revenue hit a quarterly high of ₹782 cr and profit ₹119 cr, but management deferred a specific FY27 target until September, citing geopolitical risk and pricing resistance.
Aurum Proptech revenue jumps 71% but core profit just ₹2.3 cr
Third straight profitable quarter, but the core business barely breaks even. Housing.com integration is the big bet, with a 4-6 quarter profitability timeline.
Shyam Metalics trims FY27 growth outlook to >20% from near 30%
Management cites prudence for the guidance cut, while raising the stainless steel run-rate target to ₹600-700 cr. Aluminum foil plant is commissioning with Q3 contribution expected.
GTPL transcript confirms known story as CFO gap lingers
Q1 conference call commentary adds no new surprises on ACT deal, HITS or broadband; focus remains on profit recovery after CFO departure.
Rallis India pulls back on seed growth, pricing pass-through weakens
Q1 PAT jumps 31% to ₹125 cr but includes a one-off gain. Management now sees flat cotton seed revenue, and April price hikes only partially stick. Export volumes drop 26%.
Havells Q1 transcript: Ad strategy detailed, no fresh surprise
The earnings call transcript confirms the profit-margin trade-off behind 20% revenue growth and explains the renewed brand investment; Renewables gets a separate P&L.
Canara HSBC Life trims ULIP forecast despite 24% premium growth
Management cuts full-year ULIP mix guidance to 45-50% from 55%, citing customer shift to traditional savings; protection APE surges 42% and VNB grows 29%.
JK Cement cuts capex, warns on costs
The cement maker slashed FY28 capex guidance by at least 20% without explanation, while warning that fuel and diesel will squeeze margins next quarter.
DB Corp's Q1 transcript is a formality, no new info
The filing confirms the ₹1,007 mn profit and 10% ad revenue growth already disclosed on July 16.
Rossari's margin slips to 11.6%, but management says that's the floor.
Q1 revenue rose 28% to ₹697 cr, but EBITDA margin fell 90 bps to 11.6%. The company now sees that as a near-term base and expects B2C exit to add 2-3 ppt.
SG Mart drops B2B volume target, guides ₹300 cr facility EBITDA
SG Mart steps back from its 500,000-ton B2B trading target in Q1 call. Margin guidance reset on purchased steel; backward integration line ~18 months away. Consolidated PAT targets withheld.
UltraTech Cement guides double-digit volume, warns of Q2 cost pressure
The Q1 FY27 concall recap confirms 16% revenue growth, forecasts a ₹130-140/tonne cost hike in the September quarter, and targets ₹1,400/tonne EBITDA by March 2028.
Vimta Labs lands first biologics order, budgets ₹80 cr capex for FY27
Q1 results were already disclosed; the concall adds the domestic biologics win and a ₹80 cr capex plan, including ₹10 cr for the new unit.
Sonam delivered a 30% profit jump in Q3 – and there's ₹2,500 cr of work left to do.
Revenue up 22%, margins at 25%, and a ₹2,500 cr order book gives the management room to stay confident.
PSB targets Rs 4 lakh crore business by FY29, guides for 19-20% credit growth
Q1 profit rose 23% to Rs 331 cr; concall adds forward guidance including a Rs 150 cr precautionary ECL provision and NIM target of 2.6-2.7%.
Oberoi Realty's 360 North clocks ₹8,000 cr in gross bookings
Oberoi Realty's first NCR project 360 North in Gurugram has sold more than its construction cost, with gross bookings surpassing ₹8,000 crore. All individual allotments are complete.
Dynamic Cables posts 33% revenue jump, but volume growth lags at 5-6%
Q1 revenue hit a record ₹349 crore, lifted by higher aluminium prices. The new plant is on track for September, while US market entry has begun with initial supplies.
Globus Spirits' premium push lifts Q1 EBITDA 23%
Revenue of ₹789 cr and manufacturing margin of ₹6.6/litre show the distiller's strategy in motion. Guidance for ₹5-7/litre manufacturing EBITDA and West Bengal re-entry adds visibility.
Axis Bank says NIM bottomed at 3.5%, eyes 3.8% in 12-15 months
Q1 net profit rises 23% to Rs 7,114 crore; wholesale loans surge 38% as CFO Puneet Sharma steps down.
ICICI Bank sees NIM range-bound, flags FCNR-B as margin risk
Q1 PAT jumps 15.9% to ₹14,805 cr; fee income surges 23.5%. Normalized credit costs guided at ~50 bps, with CET1 at 16.2%.
HDFC Bank ROA slips 40 bps to 1.5%, CASA still below pre-merger
Q1 FY27 concall reveals a 40 bps ROA drop, a CASA ratio that hasn't recovered from the merger, and a recovery plan targeting 38% CASA and 60% retail loans. Margins are expected to improve as high-cost borrowings mature.
PNB pivots to agri gold loans, slashes digital spend ahead of ECL hit
Agri gold loan book doubled to ₹32,000 cr, target ₹60,000 cr by FY27-end. Digital budget cut 60% to ₹3,400 cr as ₹9,500-10,000 cr ECL provisioning looms.
Elecon transcript confirms low double-digit growth, no fresh triggers
Q1 FY27 call reiterates 16% gear division growth, ₹1,518 cr order book, and cautious full-year guidance. No tradeable surprise beyond known numbers.
SG Finserve targets ₹300 cr PBT for FY27, up 75%
CEO Vinay Gupta guided for record profit before tax of around ₹300 crore, with loan book growing to ₹5,500 crore by March 2027. No equity raise needed.
Reliance targets retail EBITDA double, signs green ammonia deal
Q1 revenue jumped 25% led by O2C surge. Jio adds 25.2M subscribers. Management aims to double retail EBITDA in three years and build 40 GWh battery capacity. Bold targets contrast with a 22% profit drop.
Turtlemint guides for FY27 profit, 40%+ improvement
The insurtech platform, fresh off its first positive EBITDA quarter, says renewal revenue (20% of book) carries 2.5-3x margins of new business, driving profitability.