Sigma Solve Ltd Q1 FY27 Results

Sigma Solve's consolidated Q1 FY27 (quarter ended 30 June 2026) revenue came in at ₹23.03 Cr, up 11.5% YoY from ₹20.66 Cr but down 6.5% sequentially from ₹24.64 Cr in Q4 FY26. Consolidated PAT of ₹12.58 Cr more than doubled YoY (+142.6%) and jumped 134.4% QoQ from ₹5.36 Cr, but almost all of that swing traces to other income, which rose to ₹8.97 Cr (39% of revenue) from ₹2.14 Cr a year ago and ₹0.79 Cr last quarter — not to the core IT-services business. Stripping out that other-income delta and reapplying the quarter's ~24% effective tax rate, adjusted PAT growth works out to roughly +44% YoY — still strong, but a fraction of the reported +143%. Standalone (secondary) numbers tell a much quieter story: revenue of ₹8.41 Cr was down 1.9% YoY and 6.6% QoQ, and PAT of ₹1.89 Cr rose 50.6% YoY on ordinary operating improvement, with no comparable other-income spike — the divergence between standalone and consolidated growth rates means the consolidated headline should not be read as the core-business run-rate.

On margins, core operating profit (revenue less total expenses, excluding other income) expanded to an OPM of 32.6% from 22.7% a year ago — a genuine improvement — and was roughly flat versus 30.6% in Q4 FY26, so the underlying business did get more efficient, just not to the degree the NPM (54.6% this quarter versus 25.1% a year ago) suggests. No exceptional item is separately disclosed in the statement, so the other-income jump is not formally flagged as one-off by the company, though its near-4x YoY scale is large enough to treat as non-recurring until clarified in a future filing.

The stock went into the print at ₹55.7, up 45.4% over the past month of trading.

For context: this is the highest quarterly PAT in the last 6 quarters on our records.

Consolidated EPS ₹1.22 vs ₹0.50 a year ago — NCI immaterial at ₹(0.03) Lakh

There is no prior management guidance or concall commentary in our records to grade this print against, and no formal analyst consensus was found — a web search turned up only a generic trailing-growth blog projection explicitly described as not a formal estimate, so vsGuidance and vsStreet are both marked unknown rather than assumed met or beat. There is no press release accompanying this filing to quote. The quarter's other disclosed corporate action was the board's approval, at the same 31 July 2026 meeting, of a final dividend for FY26 and the re-appointment of Mistry & Shah LLP as statutory auditors for a second five-year term — governance items unrelated to the operating print. The results are unaudited and carry only a limited-review report from the statutory auditor, consistent with quarterly filing norms.