Choice International LimitedQ1 FY27 Results & Financial Update
Choice International Limited: Q1 FY27 consolidated results and company financials – revenue ₹31.90 Cr, PAT ₹6.06 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 glanceReported figures and period changes.Changes compare like-for-like reported periods where available.
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Quarterly Results AnalysisExplore Choice International 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
Choice International commenced FY27 with a strong operational and financial performance, delivering robust revenue and profit growth during the first quarter ended June 30, 2026, supported by broader participation in India's capital markets and new infrastructure consulting mandates.
Consolidated revenue from operations reached Rs. 319.02 crore, registering a strong year-on-year increase driven by healthy traction across core business segments and the successful execution of an expanding order book in the consulting and advisory vertical.
The bottom line expanded alongside top-line momentum, with consolidated Profit After Tax recording double-digit year-on-year growth to Rs. 60.61 crore, demonstrating resilient profitability even while the company continued to invest in operational capacity and technology.
Operating profitability remained solid, with consolidated EBITDA reported at Rs. 114 crore, reflecting steady operational execution despite short-term yield compression in the lending business resulting from a strategic shift toward secured asset classes.
The Broking and Distribution vertical continued to expand its footprint, benefiting from rising retail participation, active demat account additions, and robust growth in institutional equities and wealth management AUM.
The advisory business emerged as a major growth engine, securing multiple high-value state and national government mandates spanning railway infrastructure, e-governance, and citizen-centric public initiatives, which provide durable multi-year revenue visibility.
Management also advanced key strategic priorities, including institutional relationship building through events like InsightX 2026 and regulatory progress such as receiving SEBI approval for Choice AMC to act as the investment manager for the Wealthwave Capital Trust AIF.
01 · Business model
What does Choice International do?
Choice International Limited is a diversified financial services conglomerate offering an integrated ecosystem spanning broking and distribution, wealth management, non-banking financial company (NBFC) lending, investment banking, institutional equities, and specialized advisory services.
The company operates a 'phygital' model combining digital platforms with a massive on-ground network consisting of over 217 local branches and more than 70,000 trained business associates through the 'Choice Connect' platform, driving financial inclusion deeper into semi-urban and rural Tier 3, 4, and 5 cities.
The revenue model is structured across three core pillars—Broking & Distribution, NBFC lending, and specialized Advisory services—which help balance market cycle fluctuations by combining transactional income, recurring lending yields, and multi-year government consultancy mandates.
02 · Historical context
What shaped the business before this quarter
Since its inception, Choice International has transitioned from a traditional financial service provider into a comprehensive multi-disciplinary financial conglomerate spanning broking, lending, and consulting.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q1 FY27 | Year-ago |
|---|---|---|
| Revenue from operations | ₹31.90 Cr | ₹23.80 Cr |
| Profit after tax | ₹6.06 Cr | ₹4.80 Cr |
Financial interpretation
What the reported numbers mean
Profit after tax represented 19.0% 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.
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
Consolidated revenue contribution for Q1 FY27 stood at 59% from Stock Broking, 27% from Advisory, and 13% from NBFC operations.
Strong revenue expansion was propelled by the rapid execution of an expanding order book within the government infrastructure and management consulting arms.
What drove margins
In the NBFC division, a calibrated transition toward secured asset classes like Micro-LAP created short-term yield compression, impacting segment profits temporarily while substantially improving asset quality and future margin predictability.
Sustained profitability was achieved despite deliberate increases in operational reinvestment and capital expenditure targeted at technology platforms and long-term capacity building.
05 · Demand, customers & order book
Where demand is coming from
Consulting subsidiaries Choice Consultancy Services and Ayoleeza Consultants secured multiple government mandates aggregating approximately Rs. 191 crore across e-governance, railway infrastructure, and public initiatives.
06 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
Active demat accounts increased to 12.94 lakh, registering a 13% year-on-year growth, while client assets for stock broking grew 30% year-on-year to Rs. 62,226 crore.
Wealth Products AUM stood at Rs. 4,961 crore, representing a 4% increase over the previous year.
Insurance premium generated reached Rs. 80.2 crore, up 5% year-on-year, with the number of insurance policies sold jumping 73% year-on-year to 67,828.
The advisory segment order book stood robust at Rs. 777 crore, while the investment banking division completed one IPO and maintained 30 ongoing mandates with a total pipeline exceeding Rs. 6,766 crore.
07 · Strategy & new businesses
How the company is trying to change its growth mix
Foundational groundwork was established for a strategic investment of Rs. 900 million from South Korea's NH Investment & Securities into subsidiary Choice Equity Broking via CCPS.
08 · Reported developments
What changed operationally
Choice International's market capitalisation reached approximately Rs. 18,500 crore, reflecting a 28% increase compared to June 2025.
The Institutional Equities division successfully hosted 'InsightX 2026', bringing together over 100 corporates and 150+ institutional investors.
09 · Beyond the numbers
What changed beyond the numbers
Reported update
Leadership Transition
Mr. Ayush Sharma was appointed as Chief Financial Officer, bringing over 14 years of finance experience to strengthen the leadership team.
10 · Key Q&A
The quarter, answered directly
What does Choice International do?
Choice International Limited is a diversified financial services conglomerate offering an integrated ecosystem spanning broking and distribution, wealth management, non-banking financial company (NBFC) lending, investment banking, institutional equities, and specialized advisory services.
What is the clearest takeaway from Q1 FY27?
Choice International commenced FY27 with a strong operational and financial performance, delivering robust revenue and profit growth during the first quarter ended June 30, 2026, supported by broader participation in India's capital markets and new infrastructure consulting mandates.
What drove revenue or demand?
Consolidated revenue contribution for Q1 FY27 stood at 59% from Stock Broking, 27% from Advisory, and 13% from NBFC operations.
What mattered most for margins or profitability?
In the NBFC division, a calibrated transition toward secured asset classes like Micro-LAP created short-term yield compression, impacting segment profits temporarily while substantially improving asset quality and future margin predictability.
What changed operationally beyond the headline numbers?
Foundational groundwork was established for a strategic investment of Rs. 900 million from South Korea's NH Investment & Securities into subsidiary Choice Equity Broking via CCPS.
What should the next disclosure help confirm?
Monitor the pace of execution and revenue conversion from the Rs. 777 crore advisory order book and newly secured government mandates.
11 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Advisory Order Execution: Monitor the pace of execution and revenue conversion from the Rs. 777 crore advisory order book and newly secured government mandates.
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