D-Link (India) Ltd Q1 FY27 Results

DLINKINDIAQ1 FY27 ResultsAnnounced 1 Aug, 1:55 pm

Result:Good· Market: FlatMargin squeeze

Metric	Value	Q4 FY26	Q1 FY26
Revenue	456.96 Cr	3.0%	30.5%
Total Income	461.69 Cr	3.1%	29.8%
Expenditure	424.52 Cr	3.3%	31.5%
PBT	37.17 Cr	0.9%	13.4%
Net Profit	27.61 Cr	0.0%	13.3%
OPM	7.61%	0.29pp	0.77pp
NPM	5.98%	0.19pp	0.87pp
EPS	7.78	0.1%	13.3%

View full financials

Revenue grew a strong 30.5% YoY to a 6-quarter high with clean, one-off-free numbers, but PAT growth lagged at 13.3% as OPM/NPM compressed for a second straight quarter on faster-growing cost-of-goods, capping this at healthy-but-not-standout.

Q1 FY-2027 RESULTS · DLINKINDIA

D-Link India: revenue up 30.5% YoY but margin compression caps consolidated PAT growth at 13%

PAT +13.26% YoY · revenue +30.5% · margins compressing

01 Aug 2026 · 3 min read

Revenue

₹456.96 Cr

+30.5% YoY

PAT (consolidated)

₹27.61 Cr

+13.26% YoY

Net margin

5.98%

-0.9pp YoY

EPS

₹7.78

Consolidated (primary basis) revenue came in at ₹456.96 Cr, up 30.5% YoY and 3.0% QoQ, while PAT was ₹27.61 Cr, up 13.3% YoY but essentially flat QoQ against Q4 FY26's ₹27.61 Cr. Basic EPS was ₹7.78 versus ₹6.87 a year ago. Standalone (excluding the TeamF1 Networks security subsidiary) posted revenue of ₹455.34 Cr and PAT of ₹27.40 Cr — under 1% divergence from consolidated, so the consolidated headline fairly represents the core India networking business as well.

The scoreboard

Q1 FY-2027 vs prior quarters

Consolidated P&L, ₹ Crore

	Q1 FY-2027	QoQ	YoY
Revenue	₹456.96 Cr	+3%	+30.5%
Expenses	₹424.52 Cr	+3.3%	+31.5%
PAT	₹27.61 Cr	-0.02%	+13.26%
Net margin	5.98%	-0.2pp	-0.9pp
EPS	₹7.78	+0.1%	+13.2%

The gap between revenue growth (+30.5%) and profit growth (+13.3%) YoY is a margin story: net margin (PAT/total income) fell to 5.98% from 6.85% a year ago and 6.17% last quarter, while operating margin (EBITDA/revenue) fell to 7.61% from 8.38% YoY and 7.90% QoQ — a second straight quarter of sequential compression. Total expenses grew faster than revenue (+31.5% YoY), led by purchases of stock-in-trade (₹402.02 Cr, the largest line for this trading/distribution-heavy networking business), so the squeeze sits on the cost-of-goods line rather than opex. No exceptional items were booked in either the current or year-ago quarter, so this is a clean, unadjusted comparison.

₹

The tape into the print — daily closes, last 3 months

The stock went into the print at ₹451.8, down 13.7% over the past month of trading.

₹ Cr

Quarterly consolidated PAT, ₹ Crore

For context: this is the second-highest quarterly PAT of the last 6 quarters; revenue is at a 6-quarter high.

Our records carry no prior management guidance or concall commentary for this company, and a web search turned up no analyst previews or consensus estimates specific to this quarter — consistent with a small-cap networking name outside broad brokerage coverage — so both vsGuidance and vsStreet are unknown rather than inferred. The quarter's other disclosed item is the ₹6.11 Cr customs duty demand on royalty payments to parent D-Link Corporation, Taiwan, which the company is contesting at CESTAT (appeal filed 7 April 2026); it remains a contingent liability, not a P&L charge. The Board approved these unaudited results on 1 August 2026 with an unmodified limited-review conclusion from BSR & Co. on both statements.

W1
OPM trend — fell to 7.61% this quarter from 8.38% YoY and 7.90% QoQ; watch whether Q2 FY27 stabilises or extends the slide
W2
CESTAT appeal outcome on the ₹6.11 Cr customs demand (filed 7 April 2026) — could become a P&L charge if adjudicated against the company
W3
TeamF1 Networks' contribution to consolidated numbers — currently a thin ~₹0.21 Cr PAT delta over standalone; watch if this widens as the subsidiary scales