Choice International (531358) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 revenue from operations rose 32.04% YoY to ₹3,097.86 million; profit for the quarter increased 26.37% to ₹606.07 million, including ₹552.96 million attributable to owners.

• Diversified operations span broking and distribution, advisory, insurance, investment banking and NBFC lending, supported by 214 branches and 48 project offices.

Financial highlights

• Total income increased 34.07% YoY to ₹3,190.24 million; PBT rose 27.09% to ₹799.24 million.

• EBITDA grew 31.38% YoY to ₹1,140.4 million; EBIT rose 28.08% to ₹1,076 million.

• Consolidated total expenses were ₹2,391 million, including ₹940.11 million in employee costs and ₹1,109.77 million in other expenses.

• Standalone revenue was ₹117.65 million, PBT ₹64.50 million and PAT ₹45.01 million, versus ₹70.32 million, ₹20.40 million and ₹15.64 million, respectively, in Q1 FY26.

Outlook and guidance

• Management expects growth in Q2 and said benefits from the ₹900 crore investment are expected to start appearing from Q3; Q2 figures remain difficult to guide.

• PAT is expected to grow substantially in FY27, followed by 50% growth in the next FY.

• Branch network target is 300–350 by March and 800 within 3–4 years; plans also call for a presence in every district over the next three years.

• NBFC targets AUM of ₹10 billion in green finance and ₹25 billion in MSME finance by 2030; solar financing AUM target is ₹150 crore by FY-end.

• AMC plans active schemes by FY-end and FY27 launches including Gold FoF, Overnight Fund and active strategies, subject to market factors and regulatory approvals.