NAHAR CAPITAL & FINANCIAL SERVICES LTD. Q1 FY27 Results

Nahar Capital and Financial Services, an NBFC/investment-holding company in the Nahar textile group, reported consolidated PAT of ₹67.44 Cr for Q1 FY27 (quarter ended June 30, 2026), up 487% YoY from ₹11.48 Cr and up 271% QoQ from ₹18.19 Cr. Consolidated Total Income was ₹18.45 Cr, up 27.2% YoY from ₹14.51 Cr, and up roughly 280% QoQ off a weak ₹4.86 Cr base in Q4 FY26, when a negative fair-value swing had depressed other income. Standalone PAT was a much smaller ₹13.82 Cr on the same ₹18.45 Cr total income — the roughly ₹53.6 Cr gap to the consolidated number is entirely the equity-method share of profit from associates Nahar Spinning Mills and Nahar Poly Films (₹35.95 Cr, up 144% YoY from ₹14.74 Cr and 74% QoQ from ₹20.69 Cr) plus a consolidated-only net deferred-tax credit; readers comparing the standalone figure elsewhere should not read it as a weaker quarter, just a narrower consolidation base.

The headline PAT jump is largely non-operating. Tax swung from a ₹14.93 Cr charge a year ago to a ₹16.94 Cr net credit this quarter, driven by an ₹18.34 Cr deferred-tax credit versus a ₹12.43 Cr deferred-tax charge in Q1 FY26 — management's Note 4 attributes this to the Company's switch to the new income-tax regime and its use of roughly ₹6 Cr of brought-forward MAT credit, and explicitly flags current-quarter figures as not comparable with earlier quarters on this account. Stripping the deferred-tax swing (PBT less current tax only), PAT still grew a more modest but genuine ~105% YoY to ₹49.10 Cr from ₹23.92 Cr, still lifted by the associate-profit surge. The more comparable pre-tax, pre-associate segment result rose 22.9% YoY to ₹16.53 Cr from ₹13.45 Cr — a reasonable proxy for underlying growth once the tax and associate swings are set aside. EPS was ₹40.27 versus ₹6.86 YoY and ₹10.86 QoQ.

The stock went into the print at ₹260, up 4.8% over the past month of trading.

For context: this is the highest quarterly PAT in the last 6 quarters on our records; PAT has now risen for 2 consecutive quarters.

There is no management guidance or prior concall commentary on record for this company, and this filing — an outcome-of-board-meeting letter plus the results and Limited Review Reports — carries no MD&A framing of the quarter's drivers beyond the notes cited above, so the vsGuidance angle is unresolved by design (no formal guidance exists). No analyst or Street estimates could be located for this micro-cap NBFC, so vsStreet is marked unknown. Alongside the results, the Board fixed September 4, 2026 as the record date for a ₹1.50/share dividend relating to FY26 (record date sits inside the September 5-9 book-closure window), and re-appointed MD Dinesh Oswal for a further five years from January 1, 2027 along with two independent directors for a second five-year term — governance-continuity items unrelated to this quarter's earnings swing.