Chavda Infra LimitedQ1 FY27 Results & Financial Update
Chavda Infra Limited: Q1 FY27 standalone results and company financials – revenue ₹84.03 Cr, PAT ₹3.88 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Chavda Infra Q1 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Chavda Infra Limited reported standalone revenue from operations of INR 84.03 crore for the quarter ended 30 June 2026, alongside total income of INR 84.12 crore inclusive of INR 0.09 crore in other income.
Profit before tax for the June 2026 quarter settled at INR 5.15 crore, while profit after tax reached INR 3.88 crore after accounting for a total tax expense of INR 1.27 crore.
Basic and diluted earnings per share for the quarter stood at INR 1.19, calculated on a weighted average number of equity shares numbering 3,26,56,000 units.
Operating performance during Q1 FY27 was influenced by a change in accounting estimate regarding depreciation; the company transitioned its depreciation method for property, plant, and equipment from the Written Down Value method to the Straight-Line Method effective 1 January 2026.
This technical alteration in depreciation methodology reduced depreciation expense and correspondingly increased profit before tax by INR 3.67 crore during the June 2026 quarter.
Construction expenses constituted the largest cost component at INR 64.41 crore, while employee benefits expenses were recorded at INR 6.05 crore and finance costs stood at INR 3.53 crore.
The company operated entirely within a single business segment and domestic geographical territory during the period under review, resulting in zero reported segment or geographic breakdowns.
01 · Business model
What does Chavda Infra do?
Chavda Infra Limited operates as an engineering, procurement, and construction (EPC) and civil construction contractor, executing projects primarily across residential, commercial, and institutional sectors.
The company functions as a standalone entity without subsidiaries, associates, or joint ventures, and concentrates its operations entirely within India.
Its primary revenue model involves construction contracts where project execution scale, raw material consumption, and subcontractor deployment determine top-line inflow and operating expenses.
As an SME-listed entity operating under Chapter XB of SEBI (ICDR) Regulations, the company prepares its financial statements in accordance with Indian GAAP rather than Ind-AS.
02 · Historical context
What shaped the business before this quarter
Previously, the company charged depreciation on property, plant, and equipment using the Written Down Value method from 1 April 2025 until 31 December 2025, before transitioning to the Straight-Line Method on 1 January 2026.
During financial year 2024-25, the Income Tax Department conducted a search and seizure operation under Section 132 of the Income-tax Act in November 2024 across the company's registered office, plants, sites, and residential premises of certain employees.
In March 2026, the company received assessment orders for seven assessment years spanning AY 2019-20 to AY 2025-26, involving additions toward alleged unaccounted construction receipts aggregating INR 19.82 crore and resulting in tax demands aggregating INR 16.94 crore for AY 2022-23 through AY 2025-26.
03 · Financial snapshot
Current-quarter financial snapshot
| Metric | Q1 FY27 |
|---|---|
| Revenue from operations | ₹84.03 Cr |
| Total income | ₹84.12 Cr |
| Profit before tax | ₹5.15 Cr |
| Profit after tax | ₹3.88 Cr |
| EPS | ₹1.19 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 4.6% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 6.1% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹0.09 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations of INR 84.03 crore was driven by ongoing civil construction and EPC project execution across the company's client portfolio in India.
Other income contributed a minor INR 0.09 crore to the total revenue pool of INR 84.12 crore for the quarter.
What drove margins
Construction expenses of INR 64.41 crore formed the predominant cost pressure impacting project-level margins during the quarter.
The adoption of the Straight-Line Method for depreciation lowered depreciation charges by INR 3.67 crore in Q1 FY27, directly bolstering profit before tax.
Finance costs of INR 3.53 crore and employee benefits expenses of INR 6.05 crore represented the primary fixed and semi-fixed operating overheads.
05 · Segments, products & geography
Which parts of the business are doing the work
Geography and market mix
All operations and revenue generation were concentrated within domestic Indian markets during the quarter.
06 · Reported developments
What changed operationally
The technical reassessment of asset useful consumption patterns and transition to the Straight-Line Method successfully reduced quarterly depreciation and expanded PBT by INR 3.67 crore.
07 · Pressure points & risks
What is not going smoothly
The company faces outstanding tax demands aggregating INR 14.71 crore (net of INR 2.23 crore voluntarily paid) relating to block assessment orders for AY 2022-23 to AY 2025-26, against which appeals have been filed.
08 · Items worth noticing
The line items that can distort a quick read
A change in the depreciation method for property, plant, and equipment from WDV to SLM lowered depreciation and increased PBT by INR 3.67 crore for the quarter.
An ongoing dispute involving tax additions of INR 19.82 crore for alleged unaccounted construction receipts has resulted in a net outstanding tax demand of INR 14.71 crore, which management considers sustainable and has left unprovided pending appeal.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Changes in inventories of finished goods and work-in-progress resulted in a minor negative adjustment of INR (0.24) crore for the quarter.
Capital allocation & funding
The company incurred finance costs of INR 3.53 crore during the quarter to service borrowings and funding obligations.
10 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Auditor Review
The financial results for Q1 FY27 were reviewed by the audit committee and approved by the board of directors on 14 August 2026, with statutory auditors issuing an unmodified review conclusion carrying emphasis-of-matter paragraphs on depreciation and tax proceedings.
11 · Key Q&A
The quarter, answered directly
What does Chavda Infra do?
Chavda Infra Limited operates as an engineering, procurement, and construction (EPC) and civil construction contractor, executing projects primarily across residential, commercial, and institutional sectors.
What is the clearest takeaway from Q1 FY27?
Chavda Infra Limited reported standalone revenue from operations of INR 84.03 crore for the quarter ended 30 June 2026, alongside total income of INR 84.12 crore inclusive of INR 0.09 crore in other income.
What drove revenue or demand?
Revenue from operations of INR 84.03 crore was driven by ongoing civil construction and EPC project execution across the company's client portfolio in India.
What mattered most for margins or profitability?
Construction expenses of INR 64.41 crore formed the predominant cost pressure impacting project-level margins during the quarter.
What changed operationally beyond the headline numbers?
The financial results for Q1 FY27 were reviewed by the audit committee and approved by the board of directors on 14 August 2026, with statutory auditors issuing an unmodified review conclusion carrying emphasis-of-matter paragraphs on depreciation and tax proceedings.
What are the main pressure points disclosed for the quarter?
The company faces outstanding tax demands aggregating INR 14.71 crore (net of INR 2.23 crore voluntarily paid) relating to block assessment orders for AY 2022-23 to AY 2025-26, against which appeals have been filed.
12 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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13 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Tax Appellate Proceedings: Monitor the progress and ultimate outcomes of appeals filed before appellate authorities regarding the outstanding tax demand of INR 14.71 crore.
- 02
Depreciation Method Run-Rate: Observe subsequent quarterly financial disclosures to track the normalized run-rate of depreciation expense following the shift to the Straight-Line Method.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.