SPR Auto's 53.06% revenue growth fails to translate into profit momentum
Costs grew faster than revenue, while higher interest and depreciation limited year-on-year net-profit growth to 9.49%.
Filed 04 Aug 2026, 18:29 IST · after market close · SPR Auto Technologies Ltd (SHRIPISTON)
Key takeaways
- Revenue grew 53.06% year on year, but expenses grew faster at 58.34%, narrowing operating margin by 2.75 percentage points to 17.5%.
- Net profit rose only 9.49% year on year as interest expense increased 280.0% and depreciation rose 69.52%.
- Operating margin fell for a second straight quarter to 17.5%, though it remained 4.17 percentage points above the 13.33% median of 81 reported sector peers.
Price around the results
Revenue growth lost momentum in the consolidated quarter
SPR Auto Technologies reported consolidated revenue growth of 53.06% year on year, but sequential growth was limited to 1.28%. The sharper year-on-year increase did not carry through to profit because expenses rose 58.34%, while sequential expenses also grew faster than revenue at 2.4% versus 1.28%. Net profit declined 7.17% sequentially.
Costs and financing pulled operating leverage lower
Operating margin narrowed by 2.75 percentage points year on year and 0.9 percentage points sequentially, as costs grew faster than revenue in both comparisons. Interest expense rose 280.0% year on year and 3.95% sequentially, while depreciation increased 69.52% year on year and 3.29% sequentially. The tax rate fell 1.95 percentage points year on year, partly cushioning net profit, but rose 1.45 percentage points sequentially.
Margin remains above peers but is trending down
The company's 17.5% operating margin was 4.17 percentage points above the 13.33% median for 81 Consumer Discretionary peers that had reported the same quarter. However, margin has declined in each of the last two quarters, from 20.11% in Q3FY26 to 18.4% in Q4FY26 and 17.5% in Q1FY27. Other income contributed 12.7% of profit before tax, making reported profit quality worth tracking alongside operating performance.
After-close filing leaves the market response pending
The consolidated results were filed after market close on 04 Aug 2026, so there is no current post-results reaction to assess. Across the last eight result reactions, the stock rose after five and fell after three, with a median absolute move of 2.58%.
Q1FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q1FY27 | Q4FY26 | QoQ | YoY |
|---|---|---|---|---|
| Revenue | ₹1,474 cr | ₹1,456 cr | +1.28% | +53.06% |
| Other income | ₹25 cr | ₹23 cr | +7.83% | -12.68% |
| Expenses | ₹1,216 cr | ₹1,188 cr | +2.40% | +58.34% |
| Operating profit | ₹258 cr | ₹268 cr | -3.70% | +32.24% |
| Operating margin (%) | 17.50% | 18.40% | — | — |
| Interest | ₹34 cr | ₹33 cr | +3.95% | +280.00% |
| Depreciation | ₹53 cr | ₹52 cr | +3.29% | +69.52% |
| Profit before tax | ₹195 cr | ₹206 cr | -5.38% | +6.67% |
| Tax | ₹48 cr | ₹47 cr | +0.64% | -1.25% |
| Net profit | ₹148 cr | ₹159 cr | -7.17% | +9.49% |
| EPS (₹) | ₹32.78 | ₹35.47 | -7.58% | +8.01% |
Operating margin of 17.50% compares with a Consumer Discretionary sector median of 13.33% across 81 peers that have reported Q1FY27.
What to watch
- Whether operating margin holds above 17.5% after its decline from 18.4% sequentially.
- Whether expense growth moderates from 58.34% year on year and 2.4% sequentially.
- Whether interest expense moves down from Rs 34.2 cr after rising 280.0% year on year.