PAN HR H1 FY27 PAT climbed 95% as EBITDA increased 82%

PAN HR SOLUTION LIMITED reported H1 FY27 profit after tax of Rs 6.2116 crore, up 95.28% year on year, after revenue from operations rose 51.43% to Rs 164.4446 crore and EBITDA reached Rs 6.7014 crore. The company’s reported EBITDA growth of 81.64% exceeded revenue growth, while other income also increased to Rs 2.6711 crore.

How did PAN HR perform in H1 FY27?

PAN HR recorded higher income, operating earnings and profit in H1 FY27 than in H1 FY26. Revenue from operations increased from Rs 108.5935 crore to Rs 164.4446 crore, while total income rose 53.75% from Rs 108.6917 crore to Rs 167.1157 crore. Profit before tax rose 87.45% to Rs 6.5753 crore from Rs 3.5077 crore, and PAT increased to Rs 6.2116 crore from Rs 3.1809 crore.

The comparison shows that profit expanded faster than both revenue and total income during the half year. EBITDA, or earnings before interest, tax, depreciation and amortisation, rose from Rs 3.6894 crore to Rs 6.7014 crore. PAT, or profit after tax, grew by a larger percentage than EBITDA, with the reported 95.28% increase exceeding the 81.64% EBITDA increase.

What drove the difference between revenue and total income growth?

PAN HR’s total income grew 53.75%, faster than its 51.43% rise in revenue from operations, because other income increased from Rs 9.82 lakh in H1 FY26 to Rs 2.6711 crore in H1 FY27. That increase was included in the reported total income of Rs 167.1157 crore and therefore contributed to EBITDA in the company’s profit and loss statement.

Operating revenue remained the largest component of income in both periods, at Rs 164.4446 crore in H1 FY27 versus Rs 108.5935 crore a year earlier. The difference between total income and operating revenue was Rs 2.6711 crore in H1 FY27, compared with Rs 9.82 lakh in H1 FY26. The presentation does not specify the composition or recurrence of other income, so its source cannot be determined from the disclosed figures.

Did PAN HR’s operating profitability improve?

PAN HR’s reported operating profitability improved in H1 FY27, as EBITDA grew 81.64% while revenue rose 51.43%. EBITDA was Rs 6.7014 crore against Rs 3.6894 crore in H1 FY26. Calculated as a share of total income, EBITDA increased to about 4.01% from about 3.39%, a gain of roughly 0.62 percentage points.

The expense pattern also changed alongside income. Cost of services rendered rose to Rs 155.9131 crore from Rs 102.3494 crore, employee benefits expense increased to Rs 3.2677 crore from Rs 2.0124 crore, and other expenses rose to Rs 1.2335 crore from Rs 64.05 lakh. Expenses before finance costs and depreciation and amortisation were Rs 160.4143 crore, compared with Rs 105.0023 crore, growing more slowly than total income in percentage terms.

Finance costs declined to Rs 96,000 in H1 FY27 from Rs 1.29 lakh, while depreciation and amortisation expense fell to Rs 11.65 lakh from Rs 16.88 lakh. Tax expense rose to Rs 36.37 lakh from Rs 32.67 lakh. On the reported figures, PAT as a share of total income was about 3.72% in H1 FY27, compared with about 2.93% in H1 FY26, reflecting the faster increase in profit than income.

What operating base and expansion plans has PAN HR disclosed?

PAN HR said it had deployed more than 15,000 personnel as of 30 September 2026 and served more than 25 clients across multiple industries. Its disclosed services cover talent acquisition, payroll support, compliance management and deployment of skilled manpower, supported by a cloud-based human resources management system for workforce and payroll management.

Management said it sees opportunities in quick commerce, logistics, warehousing and other sectors requiring flexible and scalable workforce support. It also said PAN HR is working to expand into new geographies and strengthen its Pay & Collect model. These are stated plans rather than quantified targets: the presentation gives no revenue, deployment or margin target for those initiatives after H1 FY27.

PAN HR also identifies itself as a business-to-business workforce-management provider with a pan-India presence and more than 10 years of industry experience. The company was listed on the BSE SME platform in February 2026 after transitioning from a private limited entity to a public limited company in 2025. For H1 FY27, it reported return on equity of 15.29% and return on capital employed of 16.14%, neither annualised under the company’s stated definitions.

Conclusion

PAN HR’s H1 FY27 figures show earnings expanding faster than the top line: PAT rose 95.28%, EBITDA increased 81.64%, and revenue from operations grew 51.43%. The calculated increase in EBITDA margin to about 4.01% from 3.39% coincided with total income growth of 53.75%, including other income of Rs 2.6711 crore versus Rs 9.82 lakh a year earlier.

The next point to watch is execution of management’s stated expansion in quick commerce, logistics, warehousing and new geographies, alongside its plan to strengthen the Pay & Collect model. PAN HR had more than 15,000 personnel deployed at 30 September 2026, but the presentation provides no quantified financial target for these plans, leaving subsequent disclosures to show their effect on revenue, costs and profit.