B.L. Kashyap Q1 FY27: consolidated PAT falls 8% YoY to ₹10 Cr on margin compression

B.L. Kashyap's consolidated Q1 FY27 (quarter ended June 30, 2026) revenue rose 2.6% YoY to ₹345.12 Cr from ₹336.42 Cr, but consolidated PAT fell 7.8% YoY to ₹10.00 Cr from ₹10.85 Cr, as net margin compressed to 2.90% from 3.20% a year earlier. Basic/diluted consolidated EPS was ₹0.44 versus ₹0.48 in Q1 FY26. There were no exceptional items in either period, so the YoY comparison is clean and not distorted by one-offs. Sequentially, the company swung back to profit from a ₹12.52 Cr consolidated loss in Q4 FY26 (on ₹363.71 Cr of revenue), but that comparison is against a weak base rather than evidence of a sustained acceleration. Standalone PAT of ₹10.88 Cr came in above the consolidated ₹10.00 Cr this quarter, indicating BLK's subsidiaries and joint venture (BLK Lifestyle, Security Information System (India), BLK Infrastructure, the Soul Space entities, BLK-NCC Consortium) modestly diluted the group's bottom line rather than adding to it — a gap worth tracking if it widens further. On the order-book side, the company announced a ₹91.57 Cr work order from Embassy Development for Verde Phase II, Bengaluru on July 29, 2026, just ahead of this print, which supports near-term revenue visibility though it wasn't large enough to move this quarter's numbers. The filing itself carries no management commentary or press release beyond the results table and limited-review audit reports, and we found no prior formal guidance from the company or published analyst/consensus estimates for this quarter to benchmark the print against — both the guidance and street comparisons are unknown.