Q1 FY27 update: revenue up 47.8% YoY to Rs. 419.0 crore, PAT up 129.1% to Rs. 77.7 crore

Q1 FY27 (quarter ended June 30, 2026): revenue Rs. 419.0 crore, up 47.8% YoY; operational EBITDA Rs. 124.2 crore at 29.6% margin; PAT Rs. 77.7 crore, up 129.1%.

Thu 1 Oct 2026

Revenue

Rs. 419.0 crore, up 47.8% YoY

Operational EBITDA

Rs. 124.2 crore at 29.6% margin

PAT

Rs. 77.7 crore, up 129.1%

International business share of revenue

15.3% of revenue

IPO details

Rs. 805 crore IPO, including Rs. 320 crore fresh issue, and Rs. 238 crore earmarked for capex

Q1 FY27 results press release

Manipal Payment and Identity Solutions Ltd has issued a press release on its unaudited financial results (standalone and consolidated) for the quarter ended June 30, 2026. The release is titled "Strong Start to Q1 FY27" and states revenue up 48% YoY and PAT up 129% YoY. It also carries a business update, including the recent IPO and listing.

Consolidated numbers: Q1 FY27 vs Q1 FY26

• Revenue from operations stood at Rs. 419.0 crore, higher by 47.8%
• Operational EBITDA stood at Rs. 124.2 crore, an increase of 44.1%, with an EBITDA margin of 29.6%
• Profit after tax (PAT) stood at Rs. 77.7 crore, up 129.1%
• PAT margin improved to 18.3% from 11.6% in Q1 FY26
• Contribution of international business to revenue rose to 15.3%, from 3.9% in Q1 FY26

What the company says drove the numbers

• Strong performance across domestic and international businesses supported broad-based revenue growth
• Growing export traction lifted the international share of revenue
• A favourable product mix, with a higher contribution from premium, technology-driven and value-added offerings, aided EBITDA growth
• Margins remained stable sequentially, while the year-on-year moderation primarily reflected pre-operative costs associated with new geographies and facilities; the company expects these costs to be absorbed more efficiently as revenues from these investments ramp up
• Operating leverage coupled with lower finance costs bolstered PAT growth

Key operational developments highlighted

• The successful IPO and listing are described as an important milestone: Rs. 805 crore IPO, including a Rs. 320 crore fresh issue
• Rs. 238 crore earmarked for capex to support capacity expansion across manufacturing and technology infrastructure
• Deepened customer relationships through new programmes and expanded offerings across payment cards, fulfilment, identity and digital automation solutions
• Expanded international business through new customer engagements across key geographies
• Strengthened premium and differentiated payment-card offerings, led by metal cards and other value-added solutions
• Scaled Smart Tagging, RFID and IoT capabilities across identification, authentication and traceability applications
• Continued investments in R&D, technology and manufacturing

Management commentary

Executive Director and CEO Mr. K Girish Kini said the company has started FY27 on a strong note with revenue growth of 48% year-on-year and broad-based performance across the portfolio. He referred to healthy traction across product categories, supported by the continued scale-up of the international business and premium offerings, including metal cards, and thanked shareholders and investors as the company begins its journey as a listed company. The release also carries a section on how the company has invested in R&D, technology and product capabilities, and states that it remains focused on deepening customer relationships, expanding international presence, strengthening premium and technology-driven offerings, and investing in innovation and capacity.

The release notes that the unaudited financial results (standalone and consolidated) for the first quarter ended June 30, 2026, approved by the Board of Directors, and the press release are available on the company's website. It also includes a safe-harbour statement that the document may contain forward-looking statements based on management's beliefs, opinions and expectations, which involve risks and uncertainties.

How to read this

• The figures quoted here are consolidated and unaudited, and the comparisons are year-on-year against Q1 FY26
• The release gives both absolute figures and growth rates, so a reader can see the size of the business as well as the pace of change
• The EBITDA margin comparison is given: 29.6% this quarter, with margins described as stable sequentially and the year-on-year moderation attributed to pre-operative costs of new geographies and facilities
• The operational section is qualitative and describes activities and priorities, while the financial section carries the figures

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