BSOFT · Information Technology
Operating margin fell sharply on the year. Pricing, input costs, or mix?
EBITDA margin 12.0%, −398 bps on the year (−10 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹1,310 cr | ₹1,343 cr | ₹1,363 cr | ₹1,327 cr | ₹1,368 cr | ₹1,363 cr | ₹1,317 cr | ₹1,285 cr | ₹1,329 cr | ₹1,348 cr | ₹1,349 cr | ₹1,379 cr |
| YoY | — | — | — | +5% | +4% | +1% | −3% | −3% | −3% | −1% | +2% | +7% |
| EBITDA margin | 15.8% | 15.9% | 16.3% | 14.7% | 12.1% | 12.0% | 13.2% | 12.4% | 16.0% | 18.2% | 18.5% | 16.2% |
| Other income, % of PBT | 8% | 13% | 19% | 17% | 19% | 13% | 12% | 20% | 10% | −14% | −2% | 13% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 26% | 25% | 26% | 27% | 25% | 25% | 27% | 36% | 45% | 37% | 21% | 29% |
| Net profit | ₹145 cr | ₹161 cr | ₹180 cr | ₹150 cr | ₹128 cr | ₹117 cr | ₹122 cr | ₹106 cr | ₹116 cr | ₹120 cr | ₹176 cr | ₹161 cr |
| YoY | — | — | — | +9% | −12% | −27% | −32% | −29% | −9% | +3% | +44% | +52% |
| Core profit YoY | — | — | — | +1% | −24% | −28% | −26% | −22% | +37% | +62% | +55% | +50% |
| EPS | ₹5.27 | ₹5.84 | ₹6.53 | ₹5.44 | ₹4.61 | ₹4.23 | ₹4.39 | ₹3.83 | ₹4.17 | ₹4.30 | ₹6.29 | ₹5.76 |
| Flags | · | · | · | ✓ | 1 | 1 | 1 | ✓ | ✓ | ✓ | 2 | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Birlasoft Ltd. reported revenue of ₹1,363 cr (+1.5% on the year) and net profit of ₹117 cr (−27.3% on the year) for October to December 2024.
Profit before other income, exceptional items and tax moved −27.8% on the year, against −27.3% for reported profit.
1 check raised a question: Operating margin fell sharply on the year. Pricing, input costs, or mix?
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