Caliber Mining Q1 FY27: revenue +67% YoY, but PAT falls 22% on fuel-cost surge

Consolidated revenue came in at ₹657.05 Cr, up 67.1% YoY (₹393.21 Cr) and 14.8% QoQ, but consolidated PAT fell 21.6% YoY to ₹29.76 Cr (from ₹37.94 Cr) and 55.4% QoQ (from ₹66.80 Cr) as costs outpaced the topline. Neither this quarter nor the year-ago comp carries an exceptional item, so the YoY profit decline is a genuine underlying trend, not a base-effect distortion. Standalone tells an almost identical story (PAT ₹29.72 Cr, -21.7% YoY) — the two bases diverge by under 0.2%, so there is no material standalone/consolidated gap to flag.

The squeeze is a margin story: total expenses grew 80.8% YoY versus 67.1% revenue growth, compressing consolidated OPM to roughly 5.9% from about 13% a year ago, and NPM to 4.5% from 9.6%. Almost all of it traces to Power & fuel expenses, which more than doubled to ₹408.25 Cr from ₹171.07 Cr (+138.6% YoY) — a cost base that scaled far faster than the OB-removal/mining-logistics volumes implied by revenue growth. Employee costs (+57.7%), depreciation (+58.8%) and finance costs (+67.6%) grew roughly in line with or slightly ahead of revenue, consistent with capacity build-out, but did not add to the fuel-driven drag. There is no formal management guidance on record and no press release accompanying this filing, so there is nothing to grade the print against on either front — management has given no forward outlook here.

EPS ₹5.53 (consolidated, not annualised) vs ₹7.08 a year ago

This is the company's maiden quarterly result as a listed entity: Caliber completed its IPO (₹400 Cr fresh issue plus ₹50 Cr offer-for-sale, net proceeds ₹377.16 Cr) and listed on NSE/BSE on July 24, 2026, after this quarter closed. Ahead of that, it ran ₹100 Cr of pre-IPO placements at ₹424/share during the quarter, lifting paid-up capital to ₹559.42 Cr from ₹535.83 Cr, and put listing-readiness governance in place — a new RTA (KFin Technologies), a new Compliance Officer, and KMP materiality-disclosure authorisations. Because the stock only listed weeks ago, there is no analyst/street coverage yet to benchmark this print against; that changes from the next quarter as public disclosure and (per the scheduled August 12, 2026 earnings call) management commentary come online.