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Aaron Industries Q2 FY27 results: net profit up 107.2% to ₹2.88 crore, revenue up 21.9%
Aaron Industries Limited reported standalone revenue of ₹27.12 crore in Q2 FY27, up 21.9% from ₹22.24 crore in the year-ago quarter. Net profit rose to ₹2.88 crore from ₹1.39 crore, while basic EPS increased to ₹1.37 from ₹0.67; EBITDA margin expanded to 20.0% from 18.5%.
Key points
- Revenue was ₹27.12 crore in Q2 FY27, up 21.9% from ₹22.24 crore in Q2 FY26 and 11.0% from ₹24.44 crore in Q1 FY27.
- EBITDA rose to ₹5.43 crore from ₹4.12 crore a year earlier and ₹4.93 crore in the previous quarter; margin was 20.0%, compared with 18.5% and 20.2%, respectively.
- Net profit was ₹2.88 crore, up from ₹1.39 crore in Q2 FY26 and ₹2.56 crore in Q1 FY27; basic EPS was ₹1.37, compared with ₹0.67 and ₹1.22.
- In H1 FY27, revenue was ₹51.56 crore and net profit was ₹5.44 crore, compared with ₹41.48 crore and ₹2.45 crore in H1 FY26.
- Total assets reached ₹100.3 crore as of 30 September 2026, while total equity was ₹52.87 crore and borrowings were ₹32.39 crore.
How did Aaron Industries perform in Q2 FY27?
Aaron Industries reported standalone revenue of ₹27.12 crore in Q2 FY27, against ₹22.24 crore in Q2 FY26 and ₹24.44 crore in Q1 FY27. Total income was ₹27.17 crore, compared with ₹22.30 crore a year earlier and ₹24.49 crore in the previous quarter. The results were approved by the board as unaudited standalone figures for the quarter and half year ended 30 September 2026.
EBITDA was ₹5.43 crore, up from ₹4.12 crore in Q2 FY26 and ₹4.93 crore in Q1 FY27. The margin was 20.0%, compared with 18.5% a year earlier and 20.2% in the previous quarter. Profit before tax was ₹3.86 crore, compared with ₹2.49 crore and ₹3.46 crore, while tax was ₹0.98 crore.
Net profit was ₹2.88 crore, against ₹1.39 crore in the year-ago quarter and ₹2.56 crore in the previous quarter. Basic EPS was ₹1.37, compared with ₹0.67 and ₹1.22. No exceptional item was reported.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 27.12 | 24.44 | 22.24 | +21.9% | +11.0% |
| Other income | 0.05 | 0.05 | 0.05 | +0.0% | +0.0% |
| Total expenses | 23.31 | 21.03 | 19.80 | +17.7% | +10.8% |
| EBITDA | 5.43 | 4.93 | 4.12 | +31.8% | +10.1% |
| EBITDA margin | 20.0% | 20.2% | 18.5% | +1.5 pp | −0.2 pp |
| Profit before tax | 3.86 | 3.46 | 2.49 | +55.0% | +11.6% |
| Tax | 0.98 | 0.90 | 1.10 | −10.9% | +8.9% |
| Net profit | 2.88 | 2.56 | 1.39 | +107.2% | +12.5% |
| EPS (₹) | 1.37 | 1.22 | 0.67 | +104.5% | +12.3% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Aaron Industries' costs and profit?
Total expenses rose to ₹23.31 crore in Q2 FY27 from ₹19.80 crore in Q2 FY26, while revenue increased by ₹4.88 crore. Cost of materials was ₹23.80 crore, against ₹16.95 crore a year earlier, and employee cost was ₹2.28 crore, compared with ₹2.21 crore.
Finance costs fell to ₹0.60 crore from ₹0.69 crore, and tax fell to ₹0.98 crore from ₹1.10 crore. Other income was unchanged at ₹0.05 crore. Depreciation was ₹1.02 crore and other expenses were ₹2.11 crore, against ₹0.99 crore and ₹2.07 crore, respectively; no exceptional item was reported.
Against Q1 FY27, total expenses rose to ₹23.31 crore from ₹21.03 crore. Cost of materials rose to ₹23.80 crore from ₹16.38 crore, while finance costs rose to ₹0.60 crore from ₹0.52 crore, depreciation to ₹1.02 crore from ₹1 crore and other expenses to ₹2.11 crore from ₹1.93 crore. The filing does not state the reasons for these movements.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 23.80 | 16.95 | +6.85 | +40.4% |
| Employee cost | 2.28 | 2.21 | +0.07 | +3.2% |
| Finance costs | 0.60 | 0.69 | −0.09 | −13.0% |
| Depreciation | 1.02 | 0.99 | +0.03 | +3.0% |
| Other expenses | 2.11 | 2.07 | +0.04 | +1.9% |
| Total expenses | 23.31 | 19.80 | +3.51 | +17.7% |
| Other income | 0.05 | 0.05 | 0 | +0.0% |
| Tax | 0.98 | 1.10 | −0.12 | −10.9% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Aaron Industries reported standalone revenue of ₹51.56 crore, compared with ₹41.48 crore in H1 FY26. Total income was ₹51.66 crore, against ₹41.58 crore, and profit before tax was ₹7.32 crore, compared with ₹4.57 crore.
Net profit for H1 FY27 was ₹5.44 crore, against ₹2.45 crore in H1 FY26, while basic EPS was ₹2.59, compared with ₹1.17. The filing presents these as unaudited standalone results for the half year ended 30 September 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 51.56 | 41.48 | +24.3% |
| Profit before tax | 7.32 | 4.57 | +60.2% |
| Net profit | 5.44 | 2.45 | +122.0% |
| EPS (₹) | 2.59 | 1.17 | +121.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹100.3 crore, compared with ₹91.18 crore at 31 March 2026. Total equity was ₹52.87 crore against ₹48.61 crore, while borrowings were ₹32.39 crore against ₹27.75 crore. Cash and cash equivalents were ₹0.08 crore, compared with ₹0.01 crore.
Inventories increased to ₹30.75 crore from ₹24.42 crore and trade receivables to ₹9.55 crore from ₹7.01 crore. Trade payables fell to ₹5.32 crore from ₹7.67 crore. The balance sheet figures were standalone, with the 31 March 2026 figures audited.
For H1 FY27, operating cash flow was negative ₹2.66 crore, compared with positive ₹1.91 crore in H1 FY26. Investing cash flow was negative ₹0.87 crore against negative ₹0.91 crore, financing cash flow was ₹3.6 crore against negative ₹1.07 crore, and capital expenditure was ₹0.79 crore against ₹1.01 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 100.30 | 91.18 |
| Total equity | 52.87 | 48.61 |
| Borrowings | 32.39 | 27.75 |
| Cash and equivalents | 0.08 | 0.01 |
| Inventories | 30.75 | 24.42 |
| Trade receivables | 9.55 | 7.01 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −2.66 | 1.91 |
| Cash from investing | −0.87 | −0.91 |
| Cash from financing | 3.60 | −1.07 |
| Capital expenditure | 0.79 | 1.01 |
Source: Company's results filing (XBRL).
How has Aaron Industries done over the last 8 quarters?
Aaron Industries’ quarterly revenue reached ₹27.12 crore in Q2 FY27, the highest level in the reported sequence, compared with ₹18.33 crore in Q3 FY25. Revenue had risen year on year in each of the last eight quarters, based on the reported trend data.
Net profit in the latest quarter was ₹2.88 crore, above ₹1.80 crore in Q3 FY25 and ₹2.56 crore in Q1 FY27. EBITDA margin was 20.0%, compared with 20.9% in Q4 FY25 and 20.2% in Q1 FY27. Profit rose year on year in each of the last two quarters.
Which businesses drove the quarter?
The Elevator Division reported revenue of ₹19.06 crore in Q2 FY27, up 8.7% from ₹17.52 crore in the year-ago quarter. Its EBIT was ₹3.41 crore, compared with ₹8.04 crore in the year-ago period, and the reported EBIT margin was 17.9%.
The Steel Polishing Division reported revenue of ₹8.06 crore, up 70.9% from ₹4.72 crore. Its EBIT was ₹1.14 crore, compared with a loss of ₹4.54 crore in the year-ago quarter, while the reported EBIT margin was 14.1%. Unallocated EBIT was a loss of ₹0.29 crore, compared with a loss of ₹0.69 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Elevator Division | 19.06 | +8.7% | 3.41 | 17.9% |
| Steel Polishing Division | 8.06 | +70.9% | 1.14 | 14.1% |
| Unallocated | 0 | −0.29 |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The company’s same-day filing with the National Stock Exchange related to the outcome of the board meeting. On 30 October 2026, the board considered and approved the unaudited standalone financial results and the limited review report for the quarter and half year ended 30 September 2026; the filing does not report a dividend, fund raise or appointment.
How did Aaron Industries shares react?
Following the filing, Aaron Industries’ price was up 2.4% after 5 minutes, 1.1% after 15 minutes and 0.8% after 30 minutes from the price when the filing appeared. The reaction-day close was 0.3% higher than the previous close of ₹128.56.
Earlier reaction-day moves were mixed: the stock was down 0.9% on 11 August 2026, down 6.1% on 16 May 2026, unchanged on 5 February 2026, down 0.5% on 13 November 2025, up 1.8% on 12 August 2025 and up 9.2% on 19 May 2025. It was also down 3.3% on 11 February 2025 and up 5.2% on 28 October 2024.
| After the filing | Stock | Industrial Products median |
|---|---|---|
| 5 minutes | +2.4% | |
| 15 minutes | +1.1% | |
| 30 minutes | +0.8% | |
| Reaction day | +0.3% | −2.2% |
| Next day | +5.0% | −0.5% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 11 August 2026 | −0.9% |
| 16 May 2026 | −6.1% |
| 5 February 2026 | +0.0% |
| 13 November 2025 | −0.5% |
| 12 August 2025 | +1.8% |
| 19 May 2025 | +9.2% |
| 11 February 2025 | −3.3% |
| 28 October 2024 | +5.2% |
Source: MarketPing price-reaction measurement.
How did other Industrial Products companies do?
Thirty-six other Industrial Products companies filed results for the quarter. Their median revenue growth was 35.8%, compared with Aaron Industries’ revenue growth of 21.9%. Thirteen peers grew slower than the company and 23 peers grew faster than it, based on the reported peer comparison.
Of the 30 peers for which profit was compared, 22 reported higher profit. The peer comparison was recorded as of 4 November 2026.
| Aaron Industries revenue growth (YoY) | +21.9% |
|---|---|
| Median of 36 other Industrial Products companies | +35.8% |
| Companies with slower revenue growth than Aaron Industries | 13 of 36 |
| Companies with faster revenue growth than Aaron Industries | 23 of 36 |
| Companies whose net profit rose | 22 of 30 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Aaron Industries' revenue in Q2 FY27?
Revenue from operations was ₹27.12 crore, up 21.9% from ₹22.24 crore in Q2 FY26 (standalone).
Did Aaron Industries make a profit in Q2 FY27?
Yes. Net profit was ₹2.88 crore, against a net profit of ₹1.39 crore in Q2 FY26.
What was Aaron Industries' EPS in Q2 FY27?
Basic earnings per share were ₹1.37, against ₹0.67 in Q2 FY26.
How did Aaron Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.3% from the previous close; the median Industrial Products stock moved −2.2%.
When did Aaron Industries announce its Q2 FY27 results?
On 30 October 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 30 October 2026) · PDF
- Outcome of Board Meeting (NSE, 30 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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