String Metaverse Limited (BSE: META) reported an EBITDA of ₹43.85 crore for the first quarter of fiscal 2027, marking a year-over-year increase of 101.79%. This operational profit expansion accompanied a revenue surge to ₹392.42 crore and a Profit After Tax (PAT) rise to ₹36.92 crore, reflecting strong margin retention as the company scales its artificial intelligence and blockchain infrastructure solutions.

The financial results were disclosed pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, on August 11, 2026. The filing was submitted to BSE Limited by M. Chowda Reddy, Company Secretary & Compliance Officer of String Metaverse Limited, formerly known as Bio Green Papers Limited.

Financial Highlights

Revenue for the quarter ended June 30, 2026, stood at ₹392.42 crore, compared to approximately ₹199.07 crore in the corresponding period of FY26. PAT rose to ₹36.92 crore from ₹18.30 crore a year earlier, reflecting a year-over-year growth of approximately 101.80%. The disclosure highlights that the alignment of near-100% growth across revenue, EBITDA, and PAT demonstrates flawless operational leverage.

Quarterly Performance Trends

The investor presentation revealed consistent quarter-on-quarter growth over the last five quarters. Revenue climbed from ₹199.07 crore in Q1FY26 to ₹233.27 crore in Q2FY26, ₹278.79 crore in Q3FY26, and ₹365.42 crore in Q4FY26, before reaching ₹392.42 crore in Q1FY27. Similarly, net profit scaled from ₹18.3 crore in Q1FY26 to ₹21.64 crore in Q2FY26, ₹27.89 crore in Q3FY26, ₹34.71 crore in Q4FY26, and ₹36.92 crore in Q1FY27.

Strategic Innovation

Alongside the financial results, String Metaverse highlighted the launch of Billson Chain, a strategic initiative developed in partnership with Hedera. Billson Chain is designed to bring invoices, receipts, and commercial transaction records on-chain, creating blockchain-verifiable digital records for enterprise and financial applications. The platform has already verified over 500,000 bills through its user experience cycle involving snap-and-upload, IDLE token rewards, zero-knowledge hash anchoring on Hedera, and AI-based verification.

Ganesh Meenavalli, Managing Director of String Metaverse Limited, stated that the company remains focused on scaling its technology businesses while maintaining financial discipline. He noted that the convergence of AI, blockchain, tokenization, and programmable settlement will fundamentally reshape how businesses and autonomous systems transact globally.

What the Numbers Show

The company achieved a Rule of 40 performance score of 105.6%, significantly exceeding the healthy tech baseline. This metric, which combines revenue growth rate and profit margin, indicates robust health and growth potential. With PAT growing at a slightly higher rate (101.80%) than revenue (97.13%) and EBITDA mirroring this expansion (101.79%), the company appears to be benefiting from improved cost efficiency or higher-margin product mix as it scales its AI and blockchain infrastructure offerings.

String Metaverse Ltd has allotted 5,55,86,661 fully paid-up bonus equity shares to eligible public shareholders in a 2:9 ratio, increasing its public shareholding to 25.06% and achieving compliance with Minimum Public Shareholding (MPS) requirements. The allotment was approved by the Bonus Issue Committee of the Board of Directors on June 22, 2026, based on a record date of June 19, 2026. The bonus shares, with a face value of Re. 1 each, rank pari-passu with existing equity shares and carry identical rights, including dividend and voting entitlements.

The bonus issue was executed exclusively for public shareholders, as the Promoter and Promoter Group irrevocably forgone their entitlement. Consequently, no bonus shares were allotted to the promoter category. This strategic move was undertaken in accordance with SEBI Circular No. SEBI/HO/CFD/PoD2/P/CIR/2023/18 dated February 03, 2023, to satisfy the 25% public shareholding mandate prescribed under Rule 19A of the Securities Contracts (Regulation) Rules, 1957, and Regulation 38 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Capital Structure Changes

The allotment has altered the company's paid-up equity share capital and shareholding pattern. The total number of equity shares increased from 1,164,323,110 to 1,219,909,771, raising the paid-up capital from ₹1,164,323,110 to ₹1,219,909,771.

Shareholding Pattern Shift

The allocation of bonus shares solely to public shareholders resulted in a significant rebalancing of ownership. The promoter holding diluted from 78.52% to 74.94%, while public shareholding rose from 21.48% to 25.06%.

With this allotment, String Metaverse Ltd has successfully restored the prescribed level of public shareholding and is now fully compliant with the regulatory framework governing listed entities.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE958L01034/2cb38b24-33fe-492f-ac6b-ba96a65d294a.pdf