Accelya Q1 FY27: consolidated PAT falls 10% YoY as revenue dips and margins compress
PAT -10.29% YoY · revenue -3.5% · margins compressing
₹127.12 Cr
-3.5% YoY
₹30.45 Cr
-10.29% YoY
23.44%
-1.8pp YoY
₹20.4
Accelya Solutions India reported consolidated Q1 FY27 (quarter ended 30 June 2026) revenue of ₹127.12 Cr, down 3.5% YoY from ₹131.73 Cr and down 6.6% sequentially from ₹136.05 Cr in Q4 FY26. Consolidated PAT was ₹30.45 Cr (EPS ₹20.40), down 10.3% YoY from ₹33.95 Cr, even though it jumped 42.5% QoQ from Q4 FY26's ₹21.38 Cr. Standalone PAT was ₹31.37 Cr (EPS ₹21.02), running marginally ahead of the consolidated figure. No exceptional item sits within this quarter's numbers — the quarter column carries a blank against 'exceptional item'.
Q1 FY-2027 vs prior quarters
Net profit margin slipped to 23.96% from 25.22% a year ago (-126 bps) and operating margin (core operating profit before other income, over revenue) eased to roughly 36.3% from 38.86% (-258 bps), even as employee costs were flat YoY at ₹38.12 Cr and depreciation/finance costs were broadly stable. The YoY squeeze sits on the revenue line — a ~3.5% topline decline without a matching reduction in the cost base. The sequential PAT jump is a base effect, not an operating inflection: Q4 FY26 carried elevated 'other expenses' of ₹65.16 Cr versus ₹42.89 Cr this quarter, and because these quarterly numbers are disclosed balancing figures (note 5) reconciling the audited full year against the unaudited nine-month filing, full-year audit adjustments land disproportionately in Q4 — making QoQ swings here a weak signal of underlying trend.
The stock went into the print at ₹1,170, up 6.7% over the past month of trading.
For context: this is the second-highest quarterly PAT of the last 6 quarters; PAT has now risen for 2 consecutive quarters.
What the summary numbers don't show
Effective tax rate ~28.8% this quarter (₹12.30 Cr tax on ₹42.75 Cr PBT), broadly in line with recent quarters
Management has issued no formal guidance or outlook on record for this quarter, and there is no prior concall commentary in our records to check the print against — so beyond noting that no guidance exists, neither vsGuidance nor concall-consistency can be assessed. No street/consensus estimate for this quarter was available to benchmark the print against. Alongside the results, the Board recommended a final dividend of ₹35 per equity share for FY26 in the same 29 July 2026 meeting, alongside a record-date intimation. Full-year FY26 consolidated PAT of ₹95.38 Cr came in below FY25's ₹129.02 Cr, but that annual decline is largely attributable to the ₹11.72 Cr one-off exceptional charge for gratuity liability revaluation under India's New Labour Codes (effective 21 November 2025) — a charge separate from, and not present in, this quarter's core P&L.
W1
Whether revenue arrests its decline (-3.5% YoY, -6.6% QoQ this quarter) or the slowdown extends into Q2 FY27
W2
Margin recovery — NPM/OPM compressed YoY (-126 bps / -258 bps); watch if Q2 FY27 moves back toward the high-30s OPM seen a year ago
W3
Whether the Q4 FY26-style spike in 'other expenses' (₹65.16 Cr vs ₹42.89 Cr this quarter) recurs, given these quarterly figures are disclosed balancing/residual numbers prone to full-year true-up volatility (note 5)