A B Infrabuild Q1 FY27: PAT up just 4% YoY as margins compress despite 26% revenue jump

A B Infrabuild's standalone revenue from operations rose 25.9% YoY to ₹76.25 Cr in Q1 FY27 (₹60.56 Cr in Q1 FY26), but standalone PAT grew just 4.4% YoY to ₹5.34 Cr (₹5.12 Cr) — adjusting for a small ₹0.08 Cr prior-year exceptional loss, underlying YoY PAT growth is closer to ~3.2%, essentially flat. Sequentially both lines fell from the stronger Q4 FY26 print (revenue -9.2% QoQ from ₹83.93 Cr, PAT -10.5% QoQ from ₹5.97 Cr). Net profit margin compressed to 6.9% from 8.3% a year ago and 7.1% last quarter; EBITDA-level operating margin fell to ~13.9% from 15.7% YoY and 14.5% QoQ, so profitability is deteriorating on both a yearly and sequential basis even as the topline grows. The squeeze traces mainly to the 'changes in inventories' line in the construction P&L: the work-in-progress/stock-in-trade credit that reduces reported costs shrank to ₹3.73 Cr this quarter from ₹10.93 Cr a year ago — the single largest swing in the cost structure — compounded by finance cost rising 37.5% YoY to ₹3.20 Cr and employee costs up 59% YoY to ₹1.16 Cr, both outpacing revenue growth. EPS held flat at ₹0.08 (basic and diluted) versus the year-ago quarter, down from ₹0.09 last quarter. The company has no formal guidance or concall commentary on record, and no analyst consensus estimates could be located for this stock, so the print cannot be benchmarked against street expectations or management's own outlook — both come back 'unknown.' No management press release accompanied this filing beyond the standard board-outcome letter; the company operates in a single reportable segment (infrastructure) per Ind AS 108, and only a standalone statement was presented — no consolidated results this quarter.