Interest of Rs 43.52 cr limits MANBA's Q1 profit conversion
Standalone operating profit was Rs 60.83 cr, but profit before tax was Rs 16.11 cr; other income was nil.
Filed 27 Jul 2026, 14:14 IST · MANBA (MANBA)
Key takeaways
- Interest of Rs 43.52 cr absorbed much of standalone operating profit of Rs 60.83 cr, leaving profit before tax at Rs 16.11 cr.
- Standalone net profit was Rs 13.26 cr with other income at Rs 0.00 cr, so earnings were not supported by non-operating income.
- The quarter's operating margin was 65.69% on revenue of Rs 92.61 cr, while finance costs remained the main constraint below operating profit.
Finance costs narrowed the path to net profit
MANBA's standalone operating profit of Rs 60.83 cr was substantially reduced by interest expense of Rs 43.52 cr. That left profit before tax at Rs 16.11 cr despite an operating margin of 65.69%. Depreciation was Rs 1.21 cr, so finance cost was the key earnings constraint.
Operating margin came from a low expense base
Revenue was Rs 92.61 cr against expenses of Rs 31.78 cr, supporting the reported 65.69% operating margin. Other income was Rs 0.00 cr, which means the Rs 13.26 cr standalone net profit did not rely on an auxiliary income contribution. The tax rate was 17.65%.
No quarter-on-quarter or year-on-year read yet
The filing provides no sequential or year-ago comparison, so the current quarter establishes a standalone baseline rather than a trend. The key reference points for the next update are the 65.69% operating margin, Rs 43.52 cr interest cost and Rs 13.26 cr net profit.
Q1FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹93 cr |
| Other income | ₹0 cr |
| Expenses | ₹32 cr |
| Operating profit | ₹61 cr |
| Operating margin (%) | 65.69% |
| Interest | ₹44 cr |
| Depreciation | ₹1 cr |
| Profit before tax | ₹16 cr |
| Tax | ₹3 cr |
| Net profit | ₹13 cr |
| EPS (₹) | ₹2.64 |
What to watch
- Whether operating margin holds above 65.69%.
- Whether interest remains below operating profit of Rs 60.83 cr.
- Whether other income remains at Rs 0.00 cr.