Q2 FY27 earnings call: growth returns as margin recovery efforts advance
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On the reaction day the stock moved 6.8 pts more than Nifty Microcap 250 and 8.2 pts more than its Industrial Minerals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q2 FY27 consolidated revenue rose 3.2% year on year to ₹238.16 crore, while operating profit fell to ₹27.73 crore and margin to 11.6% due to energy, freight and staff costs. Management expects similar or better H2 results. A ₹100 crore investment plan is 30% complete; 9 MW solar starts in Q4 and two captive mines in December. Management cited an 18% growth ambition over two to three years and 80 basis points of margin benefit from solar.
Long-term growth and lower energy costs look positive, but near-term margin pressure may weigh on the stock until solar and mines contribute.