XTGlobal Q1 FY27: revenue flat YoY, PAT +4%, margin recovers but trails 15% guide
PAT +4.25% YoY · revenue +1.08% · margins expanding
₹93.3 Cr
+1.08% YoY
₹3.89 Cr
+4.25% YoY
4.15%
+0.1pp YoY
₹0.23
XTGlobal Infotech's Q1 FY27 (quarter ended June 30, 2026) consolidated revenue came in at ₹93.30 Cr, up just 1.1% YoY from ₹92.31 Cr and 4.2% QoQ from ₹89.52 Cr in Q4 FY26. Consolidated PAT was ₹3.89 Cr, up 4.3% YoY and 4.0% QoQ, with basic EPS of ₹0.23 versus ₹0.22 a year ago. Both prints are far short of the pace management laid out on the FY26 Q2 concall — 20-25% revenue growth and at least 15% EBITDA margin targeted for FY2027 — making this a soft opening quarter against that guidance rather than a beat or an in-line print. No formal street consensus is available for this micro-cap; a search turned up no analyst previews or estimates for the quarter, so the comparison versus Street remains unknown.
Q1 FY-2027 vs prior quarters
Margin-wise, EBITDA (PBT plus depreciation and finance costs) recovered to roughly 8.0% of revenue from about 4.8-4.9% in the seasonally weaker Q4 FY26 and improved from ~7.1% a year ago, as total expenses grew barely 0.3% YoY against 1.1% revenue growth. That EBITDA gain did not flow through to the bottom line, though: the effective tax rate jumped to 25.7% from 9.3% a year ago (last year's quarter had benefited from a large deferred-tax credit), leaving net profit margin flat at ~4.18%, unchanged from Q4 FY26. Of the ₹3.89 Cr consolidated PAT, ₹0.82 Cr was attributable to non-controlling interest in subsidiaries XT Global Inc and Network Objects Inc, leaving ₹3.07 Cr for XTGlobal shareholders; the standalone (parent-only) business posted PAT of just ₹1.82 Cr on ₹19.19 Cr of revenue, confirming the subsidiaries remain the larger profit engine. No exceptional items appear in either period, and total financial indebtedness stood at ₹33.15 Cr with zero default. The quarter followed a late-June 2026 disclosure of the company's first Ireland-based finance-and-accounting outsourcing deal win, though the filing does not quantify its revenue contribution this quarter.
The stock went into the print at ₹31.75, up 11.8% 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 3 consecutive quarters.
Management provides strong forward-looking guidance, targeting 20-25% revenue growth and an EBITDA margin of at least 15% for the fiscal year 2027. This growth is expected to be driven by operational efficiencies, expansion of offshore 'GDC as a service' offerings, and new client wins from geographic expansion into Aus
— This quarter: missed
W1
Revenue growth trajectory vs the 20-25% FY27 guidance — Q1 ran at only ~1% YoY, needing a sharp ramp in coming quarters to have any chance of reaching the full-year target
W2
EBITDA margin path toward the 15% FY27 target from the current ~8.0%
W3
Effective tax rate (25.7% this quarter vs 9.3% a year ago) — whether it normalizes or keeps compressing NPM despite EBITDA gains