Dam Capital Advisors Limited Earnings Summary — Q4 FY2026
Dam Capital Reports Sharp Quarterly Profit Decline Amid Soft Advisory Environment
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue grew 2.0% sequentially in Q1 FY2027.
- Revenue of ₹30 Cr is 3.2% lower year-on-year.
- Revenue has compounded at -16.6% annualised over the last 10 quarters.
- Net profit of ₹0 Cr is 34.8% below the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at -88.9% annualised across the period.
- Operating margin stands at 19.9% in Q1 FY2027.
- Operating margin expanded by 38 bps year-on-year.
- Over the last two years operating margin has contracted by 3855 bps.
- PBT margin is 1.0%.
- Expense growth of -3.7% remained below revenue growth of -3.2%.
- Operating profit of ₹6 Cr is 1.3% lower year-on-year.
- Operating leverage has been under pressure recently.
- 1 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 33/100 (Weak) on the latest 10 quarters.
- Business momentum has softened and warrants monitoring.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q1 FY2025 | Q4 FY2024 | Q3 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Volatile | 30 | 29 | 70 | 107 | 31 | 37 | 104 | 44 | 84 | 45 |
| Expenses | Volatile | 24 | 23 | 37 | 31 | 25 | 23 | 33 | 18 | 35 | 15 |
| Operating Profit | Volatile | 6 | 6 | 33 | 76 | 6 | 13 | 71 | 27 | 49 | 30 |
| Operating Margin | Volatile | 19.9% | 20.6% | 46.9% | 70.9% | 19.6% | 36.0% | 68.2% | 60.0% | 58.5% | 67.0% |
| Other Income | Improving | 0 | — | — | — | 0 | — | 0 | 2 | 0 | — |
| Interest | Volatile | 2 | 2 | 2 | 2 | 2 | 1 | 0 | 0 | 0 | 0 |
| Depreciation | Improving | 4 | 4 | 4 | 4 | 3 | 3 | 1 | 2 | 2 | 2 |
| Profit Before Tax | Volatile | 0 | 0 | 27 | 70 | 0 | 9 | 69 | 27 | 48 | 28 |
| Tax | Volatile | 0 | -0 | 7 | 18 | 0 | 1 | 18 | 4 | 15 | 7 |
| Net Profit | Volatile | 0 | 0 | 20 | 52 | 0 | 9 | 52 | 22 | 33 | 21 |
| Net Margin | Volatile | 0.5% | 0.8% | 28.7% | 48.7% | 0.8% | 23.2% | 49.5% | 49.8% | 39.2% | 46.9% |
Key Takeaways
- Q4 FY2026 revenue fell sharply to Rs. 29.27 Cr, down 58% sequentially, indicating a cyclical low in advisory mandates.
- Net profit saw an extreme contraction to just Rs. 0.25 Cr, down from Rs. 20.06 Cr in the previous quarter.
- Operating Profit Margin (OPM) eroded from 46.91% in Q3 to 20.64% in Q4 due to high fixed expenses relative to revenue.
- The company effectively cleared its borrowings, ending the fiscal year with zero debt on the balance sheet.
- Tax expense for the quarter was reported as negative (-Rs. 0.04 Cr on Rs. 0.21 Cr PBT), suggesting potential adjustments or credits.
- Despite quarterly volatility, the company maintains a high-ROCE model (36% for the full year FY26).
- Transition in leadership is noted with the upcoming exit of Whole Time Director Jateen Doshi in June 2026.
Management Guidance
The company remains focused on its high-yield advisory and ECM mandates, maintaining a lean capital-light model despite market-linked volatility.
Sentiment Shift
Deteriorating
A massive collapse in quarterly margins and net profit compared to the peak seen in late 2025 suggests a sharp cyclical downturn.
Outlook
The business remains highly sensitive to Indian equity market cycles and IPO volumes; future performance depends on the conversion of the investment banking pipeline.
From the Annual Report (Key Quotes)
“Earnings are inherently volatile and tied to the health of the Indian equity markets.”
“The sharp drop in Q4 FY26 net profit suggests a highly cyclical quarter.”
“Positioning it as a high-ROCE play on the Indian financialization theme.”
Official Quarterly Documents
This summary is AI-generated from Dam Capital Advisors Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.