This filing is part of the company’s quarterly result. Read the full results article, with every figure explained →
Q2 revenue up 15%, but profit down 47% as margins shrink
INDIGOPNTS · price
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On the reaction day the stock moved 13.7 pts less than Nifty Microcap 250 and 12.3 pts less than its Paints peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Consolidated Q2 FY27 revenue rose 15.0% to Rs 358.8 crore, but net profit fell 47.0% to Rs 13.4 crore as gross margin narrowed to 38.5% from 45.1% on product mix and costly inventory; EBITDA fell 33.5%. Standalone profit fell 45.9% to Rs 13.8 crore. H1 revenue rose 17.3% and profit 7.4%. No exceptional item this quarter; FY26 included a Rs 6.1 crore labour-code charge.
Sales growth with sharply lower profits and margins may weigh on the stock, though H1 revenue and profit were higher than last year.
| Q2 FY27 | Q2 FY26 | Change | |
|---|---|---|---|
| Revenue | ₹358.8 Cr | ₹312.1 Cr | +15.0% |
| Operating profit | ₹14.48 Cr | ₹30.77 Cr | −52.9% |
| Profit after tax | ₹13.39 Cr | ₹25.25 Cr | −47.0% |
| EBITDA margin | 8.6% | 14.9% | −6.3 pp |
From the company's XBRL filing, not from the text above. Operating profit = profit before tax − exceptional items − other income. EBITDA = profit before tax + finance costs + depreciation − other income.