Operating margin was 23.36% as interest cut into Q1 profit
Interest and depreciation reduced profit before tax to Rs 3.13, while limited other income kept reported profit quality tied to operations.
Filed 28 Oct 2026, 13:05 IST · SHAHINVEST (SHAHINVEST)
Key takeaways
- Consolidated operating profit of Rs 4.19 produced a 23.36% operating margin in Q1FY27.
- Interest of Rs 0.65 and depreciation of Rs 0.43 reduced operating profit to Rs 3.13 of profit before tax.
- Net profit of Rs 2.47 was supported mainly by operations, as other income was only Rs 0.02 and the tax rate was 21.19%.
Q1 operating conversion
Shah Invest reported a consolidated operating profit of Rs 4.19 on revenue of Rs 17.94, translating into a 23.36% operating margin. The result places operating performance, rather than non-operating gains, at the centre of the quarter because other income was just Rs 0.02.
Interest was the main profit bridge below operations
Interest of Rs 0.65 and depreciation of Rs 0.43 reduced operating profit of Rs 4.19 to profit before tax of Rs 3.13. Tax of Rs 0.66 at a 21.19% rate then resulted in net profit of Rs 2.47, without a meaningful boost from other income.
What to track after the Q1 base
The next results will show whether the 23.36% operating margin is sustained and whether interest remains close to Rs 0.65. The tax rate of 21.19% and other income of Rs 0.02 are also clear markers for judging how much reported profit continues to come from the operating business.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹18 cr |
| Other income | ₹0 cr |
| Expenses | ₹14 cr |
| Operating profit | ₹4 cr |
| Operating margin (%) | 23.36% |
| Interest | ₹1 cr |
| Depreciation | ₹0 cr |
| Profit before tax | ₹3 cr |
| Tax | ₹1 cr |
| Net profit | ₹2 cr |
| EPS (₹) | ₹1.55 |
What to watch
- Whether operating margin remains at or above 23.36%.
- Whether interest stays close to Rs 0.65 as profit moves below operating level.
- Whether other income remains limited near Rs 0.02 and the tax rate stays near 21.19%.