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DAM Capital Advisors Q2 FY27 results: net profit down 74.0% to ₹13.54 crore, revenue down 49.3%
DAM Capital Advisors Ltd reported consolidated Q2 FY27 revenue of ₹54.24 crore and a net profit of ₹13.54 crore, against ₹107.05 crore and ₹52.15 crore a year earlier. The quarter recovered from Q1 FY27, when revenue was ₹29.86 crore and net profit was ₹0.15 crore, but the first half remained below the year-ago period.
Key points
- Q2 FY27 consolidated revenue was ₹54.24 crore, down 49.3% from ₹107.05 crore in Q2 FY26 and up 81.6% from ₹29.86 crore in Q1 FY27.
- EBITDA was ₹24.45 crore at a margin of 45.1%, against ₹75.90 crore and 70.9% a year earlier and ₹5.95 crore and 19.9% in the previous quarter.
- Net profit was ₹13.54 crore and basic EPS was ₹1.92, against a net profit of ₹52.15 crore and EPS of ₹7.38 in Q2 FY26.
- For H1 FY27, revenue was ₹84.1 crore and net profit was ₹13.69 crore, down 39.0% and 73.9% from ₹137.9 crore and ₹52.38 crore in H1 FY26.
- Investment banking revenue was ₹34.29 crore with EBIT of ₹17.65 crore, while stock broking revenue was ₹15.55 crore with an EBIT loss of ₹3.54 crore.
How did DAM Capital Advisors perform in Q2 FY27?
DAM Capital Advisors reported consolidated revenue of ₹54.24 crore for Q2 FY27, down 49.3% from ₹107.05 crore in Q2 FY26 and up 81.6% from ₹29.86 crore in Q1 FY27. EBITDA was ₹24.45 crore, with a margin of 45.1%, compared with ₹75.90 crore and 70.9% a year earlier and ₹5.95 crore and 19.9% in the previous quarter.
Net profit for the quarter was ₹13.54 crore and basic EPS was ₹1.92, against a net profit of ₹52.15 crore and EPS of ₹7.38 in Q2 FY26 and a net profit of ₹0.15 crore and EPS of ₹0.02 in Q1 FY27. Profit before tax was ₹18.42 crore, down 73.7% from ₹70 crore a year earlier. On a standalone basis, revenue was ₹54.18 crore and profit after tax was ₹13.46 crore, down 49.4% from ₹52.11 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 54.24 | 29.86 | 107.05 | −49.3% | +81.6% |
| Other income | 0.01 | 0.11 | 0 | −90.9% | |
| Total expenses | 35.83 | 29.68 | 37.05 | −3.3% | +20.7% |
| EBITDA | 24.45 | 5.95 | 75.90 | −67.8% | +310.9% |
| EBITDA margin | 45.1% | 19.9% | 70.9% | −25.8 pp | +25.2 pp |
| Profit before tax | 18.42 | 0.29 | 70 | −73.7% | +6251.7% |
| Tax | 4.88 | 0.14 | 17.85 | −72.7% | +3385.7% |
| Net profit | 13.54 | 0.15 | 52.15 | −74.0% | +8926.7% |
| EPS (₹) | 1.92 | 0.02 | 7.38 | −74.0% | +9500.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in DAM Capital Advisors' costs and profit?
Total expenses were ₹35.83 crore in Q2 FY27, down 3.3% from ₹37.05 crore in Q2 FY26. Employee cost fell 7.5% to ₹23.51 crore from ₹25.41 crore, finance costs eased 0.9% to ₹2.23 crore from ₹2.25 crore, and depreciation rose 4.4% to ₹3.81 crore from ₹3.65 crore. Other expenses rose 19.0% to ₹4.07 crore from ₹3.42 crore. There was no exceptional item.
Other income was ₹0.01 crore against no other income a year earlier. Tax expense fell 72.7% to ₹4.88 crore from ₹17.85 crore. The EBITDA margin narrowed by 25.8 percentage points to 45.1% from 70.9%, and the profit margin narrowed by 23.7 percentage points to 25.0% from 48.7%. Against the previous quarter, employee cost rose 29.5% to ₹23.51 crore and total expenses rose 20.7% to ₹35.83 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 23.51 | 25.41 | −1.90 | −7.5% |
| Finance costs | 2.23 | 2.25 | −0.02 | −0.9% |
| Depreciation | 3.81 | 3.65 | +0.16 | +4.4% |
| Other expenses | 4.07 | 3.42 | +0.65 | +19.0% |
| Total expenses | 35.83 | 37.05 | −1.22 | −3.3% |
| Other income | 0.01 | 0 | +0.01 | |
| Tax | 4.88 | 17.85 | −12.97 | −72.7% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹84.1 crore, down 39.0% from ₹137.9 crore in H1 FY26, and total income was ₹84.22 crore against ₹137.93 crore. Profit before tax fell 73.4% to ₹18.71 crore from ₹70.43 crore.
Net profit for the half year was ₹13.69 crore, down 73.9% from ₹52.38 crore in H1 FY26, and EPS was ₹1.94 against ₹7.41. The investor presentation showed return on equity of 8.2% for H1 FY27 against 36.5% in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 84.10 | 137.90 | −39.0% |
| Profit before tax | 18.71 | 70.43 | −73.4% |
| Net profit | 13.69 | 52.38 | −73.9% |
| EPS (₹) | 1.94 | 7.41 | −73.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹486.0 crore as at 30 September 2026 from ₹453.15 crore as at 31 March 2026, and total equity rose to ₹339.01 crore from ₹331.91 crore. Cash and cash equivalents fell to ₹6.8 crore from ₹21.62 crore. The investor presentation reported net cash of ₹314 Cr as on 30 September 2026 against ₹287 Cr as on 30 September 2025.
For H1 FY27, operating cash flow was negative ₹50.67 crore against positive ₹3.31 crore in H1 FY26. Investing cash flow was ₹49.64 crore against negative ₹56.4 crore a year earlier, and financing cash flow was negative ₹13.79 crore against negative ₹13.59 crore. Capital expenditure was ₹5.73 crore against ₹4.72 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 486 | 453.15 |
| Total equity | 339.01 | 331.91 |
| Cash and equivalents | 6.80 | 21.62 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −50.67 | 3.31 |
| Cash from investing | 49.64 | −56.40 |
| Cash from financing | −13.79 | −13.59 |
| Capital expenditure | 5.73 | 4.72 |
Source: Company's results filing (XBRL).
How has DAM Capital Advisors done over the last 8 quarters?
Revenue has moved in a wide range across the last eight quarters, peaking at ₹107.05 crore in Q2 FY26 and bottoming at ₹29.27 crore in Q4 FY26. Q2 FY27 revenue of ₹54.24 crore was the second-highest reading in that stretch after Q3 FY25 at ₹103.98 crore, and rose from ₹29.86 crore in Q1 FY27.
Net profit peaked at ₹52.15 crore in Q2 FY26 and bottomed at ₹0.15 crore in Q1 FY27, before recovering to ₹13.54 crore in Q2 FY27. The EBITDA margin followed a similar path, from 70.9% in Q2 FY26 to 19.9% in Q1 FY27 and then 45.1% in the latest quarter. The direction in the latest quarter is upward on both revenue and profit, though both remain below the Q2 FY26 levels.
Which businesses drove the quarter?
Investment banking was the largest reported segment in Q2 FY27, with revenue of ₹34.29 crore and EBIT of ₹17.65 crore. Revenue fell 60.2% from ₹86.14 crore in Q2 FY26, and EBIT fell from ₹68.81 crore. The segment's EBIT margin was 51.5%.
Stock broking reported revenue of ₹15.55 crore, down 10.3% from ₹17.34 crore a year earlier, with an EBIT loss of ₹3.54 crore against a loss of ₹2.38 crore in Q2 FY26. The segment's EBIT margin was negative 22.8%. Unallocated revenue was ₹4.4 crore, up 23.2% from ₹3.57 crore, with EBIT of ₹4.31 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Stock Broking | 15.55 | −10.3% | −3.54 | -22.8% |
| Investment banking | 34.29 | −60.2% | 17.65 | 51.5% |
| Unallocated | 4.40 | +23.2% | 4.31 | 98.0% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
In its filing of 3 November 2026, the board said it had approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026. The board meeting ran from 4:00 P.M. to 5:34 P.M. IST on 3 November 2026.
The board also approved the appointment of Kishor Purshottam Thakkar as an Independent Director, not liable to retire by rotation, for a term of 5 consecutive years with effect from 14 December 2026 to 13 December 2031, subject to approvals from the Exchanges, Clearing Corporations and shareholders. Rajendra Chitale, Independent Director, was to cease to be a director with effect from the close of business hours on 14 December 2026 on completing his second term. The same-day filings contained no dividend or fund raise announcement.
What did DAM Capital Advisors' management say?
Management said the Q2 FY27 recovery was driven by merchant banking revenue of ₹34.3 Cr, and that the company executed 8 ECM transactions in the quarter raising ₹30,500+ Cr, with 106 deals worth ₹1,93,200+ Cr since November 2019. Management also said the IPO pipeline stands at 19 IPOs across 12 sectors, with 3 new IPOs added in Q2 FY27, and that no formal forward guidance was provided.
Management said institutional broking revenue slipped 4.4% Q-o-Q to ₹15.6 Cr, and that H1 FY27 income of ₹84.2 Cr and PAT of ₹13.7 Cr remain far below H1 FY26 at ₹137.9 Cr and ₹52.4 Cr. The deck noted employee costs at 43.3% of total income in Q2 FY27, and 49.5% in H1 FY27 against 31.0% in H1 FY26, with H1 FY27 ROE at 8.2% against 36.5%.
Management said the company was mandated for multiple capital market and advisory transactions, with expansion signalled through ECM plus M&A, PE and structured finance advisory mandates, and that no capex or capacity-expansion plan was disclosed. The deck described a debt-free structure with ₹314 Cr of net cash, while the consolidated balance sheet shows borrowings of ₹3.6 Cr as at 30 September 2026. Management also flagged top-10 client concentration at 40% of net broking revenue.
How did DAM Capital Advisors shares react?
After the filing appeared after market hours, the stock was up 5.7% within five minutes, 7.6% after 15 minutes and 9.1% after 30 minutes. From the previous close of ₹134.07, the reaction-day close was up 3.8%. The Stockbroking & Allied industry median moved 0.9% over the same close, so the stock's excess move versus the sector was 2.9 percentage points.
Earlier reaction-day moves were mixed: the stock fell 3.5% on 11 August 2026, 4.8% on 22 May 2026 and 4.1% on 3 February 2026, rose 2.6% on 6 November 2025 and 3.6% on 24 January 2025, and fell 4.3% on 23 July 2025 and 7.6% on 14 May 2025. Moves for the next day and five days after this result were not available.
| After the filing | Stock | Stockbroking & Allied median |
|---|---|---|
| 5 minutes | +5.7% | |
| 15 minutes | +7.6% | |
| 30 minutes | +9.1% | |
| Reaction day | +3.8% | +0.9% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 11 August 2026 | −3.5% |
| 22 May 2026 | −4.8% |
| 3 February 2026 | −4.1% |
| 6 November 2025 | +2.6% |
| 23 July 2025 | −4.3% |
| 14 May 2025 | −7.6% |
| 24 January 2025 | +3.6% |
Source: MarketPing price-reaction measurement.
How did other Stockbroking & Allied companies do?
Twenty-seven other Stockbroking & Allied companies had filed for this quarter by 5 November 2026, with a median revenue growth of 16.8%. Of the peers compared on revenue, 26 grew faster than DAM Capital Advisors and one grew slower. Of the 26 peers compared on profit, 16 reported higher profit.
| DAM Capital Advisors revenue growth (YoY) | −49.3% |
|---|---|
| Median of 27 other Stockbroking & Allied companies | +16.8% |
| Companies with slower revenue growth than DAM Capital Advisors | 1 of 27 |
| Companies with faster revenue growth than DAM Capital Advisors | 26 of 27 |
| Companies whose net profit rose | 16 of 26 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was DAM Capital Advisors' revenue in Q2 FY27?
Revenue from operations was ₹54.24 crore, down 49.3% from ₹107.05 crore in Q2 FY26 (consolidated).
Did DAM Capital Advisors make a profit in Q2 FY27?
Yes. Net profit was ₹13.54 crore, against a net profit of ₹52.15 crore in Q2 FY26.
What was DAM Capital Advisors' EPS in Q2 FY27?
Basic earnings per share were ₹1.92, against ₹7.38 in Q2 FY26.
How did DAM Capital Advisors shares react to the Q2 FY27 results?
On the reaction day the stock moved +3.8% from the previous close; the median Stockbroking & Allied stock moved +0.9%.
When did DAM Capital Advisors announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering And Approving The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026 (BSE, 26 October 2026) · PDF
- Unaudited Standalone & Consolidated Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 3 November 2026) · PDF
- The investor presentation (3 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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