Modis Navnirman Q1FY27: consol. PAT +26% YoY to ₹8.58 Cr, revenue +28%; OPM eases to 19%

Modis Navnirman's consolidated Q1 FY27 (quarter ended June 30, 2026) print shows revenue from operations of ₹58.26 Cr, up 27.9% YoY (₹45.54 Cr) and 13.1% QoQ (₹51.49 Cr), with consolidated PAT of ₹8.58 Cr, up 26.4% YoY (₹6.79 Cr) and 94.7% QoQ off a weak ₹4.41 Cr base in Q4 FY26. Standalone tells effectively the same story (PAT ₹8.61 Cr) since the wholly-owned subsidiary, Modis Navnirman Foundation, is immaterial to the group (~₹0.04 Lakh revenue per the auditor's Other Matter note) — no basis divergence worth flagging. There is no analyst/street coverage identified for this name (no consensus estimates found), so vsStreet is unknown rather than assumed. On management's own prior guidance from the Q4 FY26 concall — that margin moderation seen in Q4 was temporary (driven by project mix and construction-stage expenses) and would return to previous levels — this quarter is broadly on track but not fully there. Operating margin (OPM, revenue less total expenses over revenue) recovered sharply to 19.2% from Q4 FY26's 9.26% low, but still trails the year-ago quarter's 22.1%, so the recovery is real but partial. Net margin (PAT/total income) was roughly flat YoY at 14.6% versus 14.9%, cushioned by other income of ₹0.49 Cr versus just ₹0.13 Cr a year ago — a small-base line item that meaningfully aided bottom-line growth this quarter and is worth watching for recurrence. Finance costs remain negligible (₹1.85 Lakh), consistent with management's debt-free positioning. The quarter's governance calendar — 5th AGM held August 5, 2026, annual report filed, and today's board meeting approving these results — is administrative and doesn't bear on the operating numbers; no fresh order wins, capex, or management changes were disclosed alongside the results. No standalone management press release accompanied this filing, so the guidance read here rests on the prior concall commentary rather than fresh quarter-specific commentary from the company.