Repco Home Finance Q1FY27: consol PAT +5.6% YoY to ₹121.6 Cr, margins steady
PAT +5.63% YoY · revenue +6.23% · margins flat
₹467.7 Cr
+6.23% YoY
₹121.62 Cr
+5.63% YoY
25.99%
-0.1pp YoY
₹19.44
Repco Home Finance's consolidated net profit rose 5.6% YoY to ₹121.62 Cr in Q1 FY27 (from ₹115.14 Cr), on total income of ₹467.90 Cr, up 6.2% YoY from ₹440.70 Cr. The standalone-basis net profit (before the ₹7.47 Cr share of associate Repco Micro Finance) was ₹114.15 Cr, up 5.7% YoY — the figure management's own press release headlines as '₹114 Cr, up 5.6%', which actually blends the standalone rupee amount with the consolidated growth rate. Net profit margin held roughly flat at ~26.0% of total income versus 26.13% a year ago. Sequentially, PAT fell 10.0% QoQ from ₹135.18 Cr and NPM compressed from 29.76%, but that Q4FY26 base was lifted by a one-off ₹14.4 Cr deferred tax reversal (Note 7, related to the company's Special Reserve under Section 36(1)(viii)) — stripping that out, the underlying quarterly run-rate is stable rather than declining, so the QoQ dip is a base-effect artifact and the YoY print is the more representative read.
Q1 FY-2027 vs prior quarters
We found no analyst/brokerage consensus estimate for this quarter in public sources, so the print cannot be graded against Street expectations (vsStreet: unknown). Against management's own FY27 guidance from the Q4FY26 call — ~₹5,000 Cr disbursements, AUM growing to ₹18,000 Cr, spread of 3.2-3.25%, and Stage 2 assets below 5% — this filing discloses no AUM, disbursement or Stage 2 figures, only asset-quality ratios (GNPA 3.33%, NNPA 1.91%, or 2.67%/1.23% excluding interest accrued and EIR adjustments) and a net worth of ₹4,018.65 Cr with a debt-equity ratio of 3.01x; it is too early in the year to say whether the full-year AUM/disbursement targets are on track. On the same day as results, the company announced new director appointments and joint statutory auditors, alongside a quieter run of debt-market activity through the quarter — redemption of ₹50 Cr and issuance of ₹75 Cr of commercial paper in late June, and a senior management retirement flagged June 30 — none of which show up as one-offs in this quarter's P&L.
The stock went into the print at ₹376.35, down 10.3% over the past month of trading.
For context: this is the second-highest quarterly PAT of the last 6 quarters; revenue is at a 6-quarter high.
What the summary numbers don't show
Consolidated total revenue from operations ₹467.70 Cr, up 6.2% YoY (₹440.26 Cr) and up 3.1% QoQ (₹453.52 Cr).
Consolidated EPS ₹19.44 (basic & diluted) vs ₹18.40 a year ago — standalone EPS ₹18.25 vs ₹17.26.
Management projects a disbursement target of approximately Rs. 5,000 Crores for the current financial year, aiming to increase Assets Under Management (AUM) to Rs. 18,000 Crores, with an aspiration to reach Rs. 25,000 Crores AUM in the next two years. They are focusing on aggressive disbursement growth to counter loan
W1
AUM/disbursement pace toward management's FY27 target of ₹18,000 Cr AUM (~₹5,000 Cr disbursements) — no AUM figure disclosed this quarter; watch Q2 for the first checkpoint.
W2
Stage 2 asset trend toward management's sub-5% target — not disclosed this quarter, only GNPA 3.33%/NNPA 1.91% given.
W3
Spread trajectory toward the 3.2-3.25% target, particularly any 10-15 bps cost-of-funds relief management flagged from a new NHB refinance facility.
Informational and educational content only. Not investment advice.