Akme Fintrade Q1 FY27: PAT +20% YoY to ₹11.6 Cr, margins compress as funding costs rise

Akme Fintrade's standalone total income came in at ₹41.77 Cr, up 30.9% YoY but down 1.9% QoQ, while standalone PAT rose 20.4% YoY to ₹11.57 Cr, down 5.7% sequentially from Q4 FY26's ₹12.27 Cr; basic EPS was ₹0.27 (diluted ₹0.25) against ₹0.29 in Q4 FY26 and ₹0.23 a year ago. Only a standalone statement was filed — there is no consolidated set to reconcile against. Revenue growth is slightly understated on a like-for-like basis: the quarter carried zero contribution from the 'gain/loss on derecognised financial asset' line (assignment/securitisation income), versus ₹1.05 Cr in the year-ago quarter and ₹1.06 Cr in Q4 FY26, a headwind sitting inside both the YoY and QoQ revenue comparisons. No formal management guidance or prior concall commentary is on record for this company, and a web search for analyst previews/consensus estimates found no active brokerage coverage of this quarter, so vsStreet stays unknown rather than assumed.

The headline story is margin compression, not the topline. Net profit margin fell to 27.71% (matching the company's own regulatory disclosure) from 30.12% a year ago and 28.81% in Q4 FY26, because finance cost climbed to ₹17.50 Cr — 41.9% of total income versus 35.5% a year ago, a 54.4% YoY jump that outran the 30.9% rise in income. That tracks the company's debt-funded growth: it raised ₹50 Cr via a secured NCD private placement (ISIN INE916Y07081, allotted April 20, 2026) during the quarter, on top of five existing secured NCD series, taking total outstanding listed NCDs to ₹230 Cr. Partly offsetting the finance-cost drag, credit costs improved — impairment/expected credit loss fell to ₹0.85 Cr (2.0% of income) from ₹1.86 Cr (5.8%) a year ago, and Gross/Net Stage-3 stood at 2.91%/1.41%, both comfortably inside the debenture covenant caps of 4%/3%.

The stock went into the print at ₹9.3, down 11.8% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters.

Alongside the results, the company allotted 1.3 Cr equity shares (₹7.33 Cr) on conversion of outstanding warrants from its two preferential tranches, appointed Dipesh Jain as Chief Operating Officer, and the Board noted the company's transition from NBFC-Base Layer to NBFC-Middle Layer under RBI's Scale Based Regulation framework — consistent with the balance-sheet scale-up visible in this quarter's numbers. Two days before results the company also launched 'AKME GreenX', a green-finance platform, though it shows no financial contribution in this print. Net worth stands at ₹459.0 Cr with CRAR of 46.37% and a debt-equity ratio of 1.16x, leaving headroom for further leveraged growth, but the coming quarters will show whether the newly raised NCD capital converts into loan-book growth fast enough to offset the higher interest bill. No management press release with forward commentary accompanied this filing beyond the factual board-outcome letter, so there is no stated management claim to check the numbers against.