Q2 FY27 results published: income up 24%, profit before tax down 46%
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On the reaction day the stock moved 9.1 pts less than its Iron & Steel Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Results for the quarter and half year ended 30 Sept 2026 were published in Desh Sewak and Business Standard. Standalone income rose 24% year on year to Rs 529.9 crore in Q2 and 20% to Rs 1,070 crore in H1. Profit before tax fell 46% to Rs 13.4 crore and profit after tax to Rs 9.1 crore from Rs 16.8 crore. EPS was Rs 0.16 versus Rs 0.30 in Q2, and Rs 0.43 versus Rs 0.59 in H1. Debt rose to Rs 462.1 crore, with debt to equity at 2.07 from 1.58.
Revenue growth is offset by weaker margins, lower EPS and higher debt; leverage at 2.07 times may cap the stock.