Earnings Call Transcript Summaries

360 ONE WAM LIMITED 360ONE Q1FY27 📝 Transcript · Financial Services

Filed 21 Jul 2026

Cost-to-income ratio improved to 51.3%; expected to decline 100-150 bps by FY27 end
UBS collaboration progressing; expected to launch mutual funds and cross-referrals soon
Retention pressure mainly due to mix and carry recognition; overall ARR retention expected between 70-75 bps
Q1 FY27 ARR AUM increased 19% to Rs 3.42 lakh crores; total AUM up 17% to Rs 7.8 lakh crores
HNI business scaling with 60+ RMs managing Rs 5,000+ crores AUM; break-even expected this year
ECM mandates team building; revenue currently small but expected to grow to 15-20% of transaction brokerage in 2-3 years

Tatva Chintan Pharma Chem Limited TATVA Q1FY27 📝 Transcript

Filed 21 Jul 2026

Board approved 200cr INR greenfield capex for multiproduct facility; revenue target 300cr INR at peak
Q1 FY27 revenue 1,671mn INR +43% y-y, EBITDA 323mn INR +86% y-y
FY27 revenue growth guidance 25-30%; EBITDA margin guidance 20-22%
Semiconductor product qualified; commercial scale batch delivered; large opportunity expected
Semiconductor commercialization expected post Q4 FY28; patience required for scale-up
Structure Directing Agents demand strong; Euro 7 implementation driving growth

Newgen Software Technologies Limited NEWGEN Q1FY27 📝 Transcript · Information Technology

Filed 21 Jul 2026

No revenue guidance; expect double-digit growth and margin expansion for FY27
Q1 FY27 revenue 357cr +11% y-y; annuity revenue 254cr +14% y-y; SaaS/license subscription 60cr +40% y-y
Implementation revenue down due to project delays, expected recovery in Q2/Q3
AI capabilities integrated across verticals; AI product pricing evolving with customer acceptance
EBITDA 56cr (15.7% margin); PAT 63cr +26% y-y (17.6% margin)
R&D spend ~9% of revenue; margin expansion driven by AI-driven operational efficiencies

Jana Small Finance Bank Limited JSFB Q1FY27 📝 Transcript · Financial Services

Filed 21 Jul 2026

Q1 FY27 PAT at INR155 crore; NIM improved to 7.5% driven by lower cost of funds and reduced unsecured slippages
Credit cost stable at 0.45%, expected to maintain through FY27
Cost-to-income ratio expected to reduce to 63-65% range in FY27
Loan growth guidance for FY27: 19-21%; deposit growth 23-25%; PAT growth above 80%
CASA grew 7.1% Q-o-Q, targeting 20% CASA ratio for FY27
Gold loan portfolio grew 13.5% Q-o-Q with LTV at 64%, no asset quality impact expected

Havells India Limited HAVELLS Q1FY27 📝 Transcript · Consumer Durables

Filed 21 Jul 2026

Management confident on resilient demand and growth momentum for FY27
Cables volumes flat; capacity ramp-up ongoing with raw material price volatility affecting sales timing
Contribution margin stable around 18.3%; margin improvement expected from operating leverage and product mix
Q1 FY27 revenue growth strong despite inflation and West Asia uncertainties
Switchgear international business (~15%) impacted by export disruptions, expected rebound in Q2
Lloyd AC volume growth single-digit; value growth higher due to price hikes

CEAT LTD. CEATLTD Q1FY27 📝 Transcript · Automobile

Filed 20 Jul 2026

Capex of INR 1,205 Cr approved for 53k 2-wheeler tyre capacity by FY31
Raw material costs expected to rise 8-10% in Q2; commodity volatility linked to West Asia crisis
Management expects demand moderation in Q2 but no sharp decline
Q1 FY27 standalone revenue grew 18.3% y-y; consolidated revenue 22.3% y-y
Standalone EBITDA margin contracted to 9.1% due to 15-16% raw material cost rise
Volume growth: replacement mid-teens, OEM low teens, international ~30% y-y

ICICI Lombard General Insurance Company Limited ICICIGI Q1FY27 📝 Transcript · Financial Services

Filed 20 Jul 2026

Fire segment faced severe pricing pressure, 27.8% industry de-growth
Motor segment grew 14%, market share 10.5%; Retail Health grew 69.5%, market share 4.5%
Management expects competitive intensity in Fire to ease; Motor TP pricing and claims environment evolving with regulatory and market actions
Q1 FY2027 GDPI grew 7.5% to ₹83.18bn vs industry 10.9%; retail lines drove growth
Combined ratio rose to 107.2% from 102.9%, impacted by ₹0.63bn fire losses and ₹1.65bn Motor TP Supreme Court judgement provision
Excluding these, combined ratio stable at ~102.3%

Muthoot Capital Services Limited MUTHOOTCAP Q1FY27 📝 Transcript

Filed 20 Jul 2026

ROA guidance ~2.5% pretax for FY27; impairment costs expected stable
Q1 FY27 GNPA improved to 3.94%, down 182 bps y-y; retail GNPA at 3.49%
Yield on portfolio steady at ~21%; used car yield 18.6%, expected breakeven in FY27
AUM target INR4,000-4,200 Cr for FY27; INR10,000 Cr target for FY28-29 intact
GNPA expected to remain sub-4% retail; NNPA sub-2% for FY27
CRISIL rating upgraded to AA- stable, enabling lower borrowing costs

Polycab India Limited POLYCAB Q1FY27 📝 Transcript · Capital Goods

Filed 20 Jul 2026

Management confident on 1.5x industry volume growth for FY27; data centre and T&D demand seen as growth drivers
Consolidated revenues grew 39% y-y in Q1 FY27; EBITDA up 32%, margin 13.8%
Export growth expected to pick up with expanded global footprint and distribution
Wires & Cables grew 39% y-y; domestic wires up 43%, volume low to mid-single digit
Export impacted by Middle East geopolitical issues; US and Europe order book strong
Working capital cycle improved to 15 days; capex INR 3.2 bn in Q1

L&T Technology Services Limited LTTS Q1FY27 📝 Transcript · Information Technology

Filed 20 Jul 2026

Revenue $310 Mn, +1.5% sequentially, +1.9% YoY constant currency in Q1 FY27
Mobility segment grew 2.3% QoQ; Sustainability grew 4.3% QoQ and 11.3% YoY with double-digit growth guidance for FY27
Tech segment faced softness but expected to grow from Q2; strong pipeline and new telecom deal in early Q2
EBIT margin expanded to 15.7%, +50 bps QoQ and +200 bps YoY; free cash flow at 153% of net income
Large deal TCV wins near $100 Mn; strategic AI partnerships including Anthropic integration
Offshore mix steady at 53.9%; attrition at 14.7%; DSO improved to 77 days

RELIANCE INDUSTRIES LTD. RELIANCE Q1FY27 📝 Transcript · Oil & Gas

Filed 19 Jul 2026

Exploration & Production revenue +3.2%, CBM production rising, price ceiling expected to increase
Petrochemicals faced raw material price volatility; ethane feedstock advantage sustained
Management highlighted disciplined capex, focus on digital commerce scale, and technology leadership in telecom and new energy
Q1FY27 consolidated revenue up 25%, EBITDA up 10%, PAT up 6%
Jio Platforms revenue +12%, EBITDA margin 53.3%, 533M subscribers with 285M on 5G
Retail revenue +12%, EBITDA margin 7.9%, digital commerce growing rapidly with 116% grocery order growth

Elecon Engineering Company Limited ELECON Q1FY27 📝 Transcript · Capital Goods

Filed 18 Jul 2026

Demand outlook cautious due to geopolitical risks; strong enquiry pipeline; execution delays in some MHE power sector orders expected to ease in Q2
FY27 guidance: low double-digit revenue growth; EBITDA margin stable; capex INR400 Cr over FY26-28
Commodity cost increased ~5% on average; price hikes taken; margin impact higher in MHE due to customization and project delays
MHE sustainable EBITDA margin guided at 22-24%; Gear EBITDA margin target ~24%
Q1 FY27 consolidated revenue grew 11.9% y-y to INR521 Cr; overseas revenue up 21.9% y-y to INR151 Cr
Mid-term target: INR5000 Cr revenue by FY30 with Gear ~70-75% and MHE ~25-30% share

Indian Bank INDIANB Q1FY27 📝 Transcript · Financial Services

Filed 17 Jul 2026

Guidance: CASA target ~40%, gross NPA 1.50-1.60%, credit cost within 1%
FCNR(B) mobilisation at USD150 mn; plan USD1.5-2 bn; capex Rs.750 Cr for AI/cybersecurity
Margins expected stable at upper end of 3.15-3.25% guidance; cautious loan pricing
Deposits grew 13.40%, advances 13.89%, CASA up 15.30% in Q1 FY27
LCR stable at 123%; treasury profit guidance Rs.600-700 Cr for FY27
Credit cost declined to 0.23%; gross NPA down to 1.86%; PCR at 98.22%

Billionbrains Garage Ventures Limited GROWW Q1FY27 📝 Transcript · Financial Services

Filed 17 Jul 2026

Q1 FY27 earnings call held on July 15, 2026
Derivatives active customers stabilizing after Q4 FY26 exception
New products launched: commodities with 28% market share, bonds scaling well, US stocks launch planned soon
Employee cost rise mainly due to appraisals, not headcount increase
Customer acquisition cost higher due to extended IPL marketing
MTF growth strong with increasing ticket size; cash yields improved by ~5% y-y

HDFC Asset Management Company Limited HDFCAMC Q1FY27 📝 Transcript · Financial Services

Filed 17 Jul 2026

Q1 FY27 quarterly average AUM at INR83.1tn, +15% y-y; equity AUM +16%
Market share stable; fintech channels growing rapidly; focus on investor education
Product launches include new SIF equity ex top 100 long-short fund; PMS and alternatives expanding
Revenue INR11bn (+14% y-y); PAT INR8.4bn (+12% y-y); operating margin 35 bps of AUM
Margin impact from TER to BER transition managed via commission optimization
HDFC AMC QAAUM INR9.35tn, +13% y-y; equity-oriented assets 65.7% vs industry 56.6%

Wipro Limited WIPRO Q1FY27 📝 Transcript · Information Technology

Filed 17 Jul 2026

New AI services expected to be margin accretive; traditional deals face margin pressure
Q1 FY27 IT services revenue $2.61bn +0.9% y-y, -1.2% q-q; margin 16%, down 120 bps y-y
Margin impacted by salary hikes, ramp-up of deals, AI investments; target 17-17.5% band
Q2 guidance: sequential growth -1.5% to +0.5% constant currency
BFSI growth mixed; AI reinvestment driving new transformation projects
Americas soft; BFSI and consumer sectors gaining momentum; Europe and APMEA show growth

Tata Elxsi Ltd TATAELXSI Q1FY27 📝 Transcript · Information Technology

Filed 17 Jul 2026

Q1 FY27 revenue crossed INR 1,000 Cr at 1,021.1 Cr, +6.5% y-y constant currency
Margin impacted by 150 bps one-off costs and 220 bps investments in onsite ramp-up, subcontractors, talent, AI tools
Healthcare segment flat; long-term growth expected with AI platform investments
US region strong; transition costs and visa delays to ease over 2-3 quarters
EBITDA 216 Cr, +15.7% y-y; margin 21.2%
Transportation and media & communication verticals grew 6.7% and 11.5% y-y constant currency

WeWork India Management Limited WEWORK Q1FY27 📞 Audio · Services

Filed 17 Jul 2026

CapEx front-loading in early FY27 quarters may pressure margins temporarily.
Capacity to reach 8.7 mn sq ft by Mar FY27 and 10.3 mn sq ft by Mar FY28; 40% of incremental growth already locked via signed leases/LOIs.
CapEx guidance for FY26: ₹450-500 cr; ₹300-400 cr on speculative business; managed office CapEx varies by client.
One-time IPO and design-build costs impacted Q3 margins; normalized margins expected to improve.
EBITDA margin guidance steady at ~20-21% with expected quarter-wise fluctuations due to lease ramp-ups.
Managed office EBITDA margins at center level ~40-45%, corporate level 30-35%, expected to improve overall margins.

Piramal Finance Limited PIRAMALFIN Q1FY27 📞 Audio · Financial Services

Filed 16 Jul 2026

Cost of borrowing declined 4bps QoQ to 8.80%; AA+ rating upgrade expected to lower borrowing costs further
FY27 AUM growth target reaffirmed; Q1 growth business AUM +32% YoY, total AUM +25% YoY to Rs.1.07tn
PAT surged 67% YoY to Rs.461cr in Q1; ROAUM expected to rise from 1.9% in Q1 to 2.5% by Q4 FY27
Retail OPEX/AUM improved to 3.5% (down 10bps QoQ); cost-to-income ratio improved to 53% from 66% YoY
AI-driven productivity gains continue; AI token usage surged to 320bn in Q1 with flat token costs
Retail customer base grew 24% YoY to 6mn; cross-sell contributes 28% of unsecured disbursements with lower OPEX and credit cost

ICICI Prudential Asset Management Company Limited ICICIAMC Q1FY27 📝 Transcript · Financial Services

Filed 16 Jul 2026

Industry quarterly average AUM grew 15.4% y-y to INR83.28 lakh crores in Q1 FY27
ICICI Prudential AMC's quarterly average AUM rose 18.3% y-y to INR11.17 lakh crores, market share 13.4%
Equity-oriented schemes AUM grew 19.8% y-y, market share 14%, net flows among highest in industry
Management expects continued product launches including lifecycle funds and SIF strategies
Operating margin improved to 36.9 bps from 36.1 bps y-y; gross and net yields at 52.4 bps and 48.3 bps
Operating revenue grew 17.6% y-y to INR1,564 crores; PAT increased 23.1% y-y to INR965 crores

🎙 Transcript Summaries