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Ahmedabad Steelcraft Q2 FY27 results: net profit down 55.4% to ₹3.33 crore, revenue down 2.5%
Ahmedabad Steelcraft Ltd reported standalone revenue of ₹63.04 crore in Q2 FY27, down 2.5% from ₹64.68 crore in Q2 FY26 but up 62.8% from ₹38.72 crore in Q1 FY27. The company reported a net profit of ₹3.33 crore and basic EPS of ₹2.21, with EBITDA margin at 7.5%.
Key points
- Q2 FY27 standalone revenue was ₹63.04 crore, compared with ₹64.68 crore in Q2 FY26 and ₹38.72 crore in Q1 FY27.
- EBITDA was ₹4.70 crore and EBITDA margin was 7.5%, against 16.2% in Q2 FY26 and 5.4% in Q1 FY27.
- Profit before tax was ₹4.45 crore, compared with ₹10.45 crore in Q2 FY26 and ₹1.83 crore in Q1 FY27.
- Net profit was ₹3.33 crore, down 55.4% from ₹7.46 crore in Q2 FY26 but up 122.0% from ₹1.50 crore in Q1 FY27.
- Basic EPS was ₹2.21, compared with ₹6.73 in Q2 FY26 and ₹1.00 in Q1 FY27.
How did Ahmedabad Steelcraft perform in Q2 FY27?
Ahmedabad Steelcraft reported standalone revenue of ₹63.04 crore in Q2 FY27, down ₹1.64 crore or 2.5% from ₹64.68 crore in Q2 FY26. Against Q1 FY27, revenue was up ₹24.32 crore or 62.8% from ₹38.72 crore. EBITDA was ₹4.70 crore, compared with ₹10.46 crore a year ago and ₹2.09 crore in the previous quarter; EBITDA margin was 7.5%, versus 16.2% and 5.4%, respectively.
Profit before tax was ₹4.45 crore, down ₹6 crore or 57.4% from ₹10.45 crore in Q2 FY26 and up ₹2.62 crore or 143.2% from ₹1.83 crore in Q1 FY27. Net profit was ₹3.33 crore, compared with ₹7.46 crore and ₹1.50 crore, while basic EPS was ₹2.21, against ₹6.73 and ₹1.00. The figures are standalone; no consolidated result is given in the filing.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 63.04 | 38.72 | 64.68 | −2.5% | +62.8% |
| Other income | 0.01 | 0 | 0 | ||
| Total expenses | 58.60 | 36.90 | 54.22 | +8.1% | +58.8% |
| EBITDA | 4.70 | 2.09 | 10.46 | −55.1% | +124.9% |
| EBITDA margin | 7.5% | 5.4% | 16.2% | −8.7 pp | +2.1 pp |
| Profit before tax | 4.45 | 1.83 | 10.45 | −57.4% | +143.2% |
| Tax | 1.12 | 0.32 | 2.99 | −62.5% | +250.0% |
| Net profit | 3.33 | 1.50 | 7.46 | −55.4% | +122.0% |
| EPS (₹) | 2.21 | 1.00 | 6.73 | −67.2% | +121.0% |
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 Ahmedabad Steelcraft's costs and profit?
Total expenses were ₹58.60 crore in Q2 FY27, up ₹4.38 crore or 8.1% from ₹54.22 crore in Q2 FY26, while other income was ₹0.01 crore against ₹0 crore. Employee benefits expense was ₹0.43 crore, up ₹0.10 crore or 30.3% from ₹0.33 crore, finance costs were ₹0.07 crore against ₹0 crore, and depreciation and amortisation was ₹0.19 crore against ₹0 crore. Other expenses were ₹0.18 crore, up ₹0.02 crore or 12.5% from ₹0.16 crore.
There was no exceptional item in either quarter. Tax expense was ₹1.12 crore in Q2 FY27, down ₹1.87 crore or 62.5% from ₹2.99 crore in Q2 FY26, compared with ₹0.32 crore in Q1 FY27. The filing gives the cost movements but does not state a reason for the year-on-year fall in profit.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.43 | 0.33 | +0.10 | +30.3% |
| Finance costs | 0.07 | 0 | +0.07 | |
| Depreciation | 0.19 | 0 | +0.19 | |
| Other expenses | 0.18 | 0.16 | +0.02 | +12.5% |
| Total expenses | 58.60 | 54.22 | +4.38 | +8.1% |
| Other income | 0.01 | 0 | +0.01 | |
| Tax | 1.12 | 2.99 | −1.87 | −62.5% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue was ₹101.77 crore, down ₹5.58 crore or 5.2% from ₹107.35 crore in H1 FY26. Profit before tax was ₹6.28 crore, down ₹8.67 crore or 58.0% from ₹14.95 crore, and net profit was ₹4.83 crore, down ₹6.00 crore or 55.4% from ₹10.83 crore. Basic EPS for the first half was ₹3.20, compared with ₹9.76 in the year-ago period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 101.77 | 107.35 | −5.2% |
| Profit before tax | 6.28 | 14.95 | −58.0% |
| Net profit | 4.83 | 10.83 | −55.4% |
| EPS (₹) | 3.20 | 9.76 | −67.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹215.47 crore at 30 September 2026, compared with ₹219.65 crore at 31 March 2026, while total equity rose to ₹136.72 crore from ₹131.66 crore. Borrowings were ₹2.69 crore against ₹2.86 crore, and cash was ₹3.00 crore against ₹0.40 crore. Inventories were ₹0.79 crore at the quarter end, while trade receivables were ₹205.03 crore and trade payables ₹74.05 crore.
H1 FY27 operating cash flow was ₹3.01 crore, compared with an outflow of ₹19.59 crore in H1 FY26. Investing cash flow was ₹0.02 crore against an outflow of ₹1.97 crore, while financing cash flow was an outflow of ₹0.43 crore against an inflow of ₹22.77 crore. Capital expenditure was ₹0.00 crore in H1 FY27, compared with ₹2.15 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 215.47 | 219.65 |
| Total equity | 136.72 | 131.66 |
| Borrowings | 2.69 | 2.86 |
| Cash and equivalents | 3 | 0.40 |
| Inventories | 0.79 | 0 |
| Trade receivables | 205.03 | 211.78 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 3.01 | −19.59 |
| Cash from investing | 0.02 | −1.97 |
| Cash from financing | −0.43 | 22.77 |
| Capital expenditure | 0 | 2.15 |
Source: Company's results filing (XBRL).
How has Ahmedabad Steelcraft done over the last 8 quarters?
Revenue rose from ₹38.72 crore in Q1 FY27 to ₹63.04 crore in Q2 FY27, but remained below ₹64.68 crore in Q2 FY26 and ₹68.15 crore in Q3 FY25, the highest revenue in the reported series. The low point in the series was Q1 FY27 at ₹38.72 crore. The latest quarter therefore shows a recovery from the preceding low, while staying below the earlier peak.
Net profit increased from ₹1.50 crore in Q1 FY27 to ₹3.33 crore in Q2 FY27, after reaching ₹7.46 crore in Q2 FY26 and a low of ₹1.50 crore in Q1 FY27. EBITDA margin was 7.5% in the latest quarter, up from 5.4% in Q1 FY27 but below 16.2% in Q2 FY26 and 10.5% in Q1 FY26.
How did Ahmedabad Steelcraft shares react?
The filing was published during market hours. The stock was unchanged at the 15-minute and 30-minute marks, then fell 7.6% on the reaction day from the previous close of ₹144.00 to the close of the first session that could trade on the news. The Iron & Steel Products sector’s median move was 0.6%, so Ahmedabad Steelcraft underperformed the sector by 8.2 percentage points.
Earlier reaction-day moves were mixed: the stock rose 2.0% on 14 August 2026 and 3.7% on 30 May 2026, fell 3.2% on 14 February 2026 and 5.0% on 11 November 2025, and rose 1.9% on 30 May 2025. Earlier reaction-day moves were also positive on 7 August 2024 at 2.0% and 28 May 2024 at 5.0%.
| After the filing | Stock | Iron & Steel Products median |
|---|---|---|
| 15 minutes | +0.0% | |
| 30 minutes | +0.0% | |
| Reaction day | −7.6% | +0.6% |
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 |
|---|---|
| 14 August 2026 | +2.0% |
| 30 May 2026 | +3.7% |
| 14 February 2026 | −3.2% |
| 11 November 2025 | −5.0% |
| 14 August 2025 | −1.4% |
| 30 May 2025 | +1.9% |
| 7 August 2024 | +2.0% |
| 28 May 2024 | +5.0% |
Source: MarketPing price-reaction measurement.
How did other Iron & Steel Products companies do?
Forty-six other Iron & Steel Products companies were compared for the quarter. Their median revenue growth was 18.4%. Nine peers grew slower than Ahmedabad Steelcraft, while 37 peers grew faster than the company. Among 49 peers for which profit was compared, 30 reported higher profit.
| Ahmedabad Steelcraft revenue growth (YoY) | −2.5% |
|---|---|
| Median of 46 other Iron & Steel Products companies | +18.4% |
| Companies with slower revenue growth than Ahmedabad Steelcraft | 9 of 46 |
| Companies with faster revenue growth than Ahmedabad Steelcraft | 37 of 46 |
| Companies whose net profit rose | 30 of 49 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Ahmedabad Steelcraft's revenue in Q2 FY27?
Revenue from operations was ₹63.04 crore, down 2.5% from ₹64.68 crore in Q2 FY26 (standalone).
Did Ahmedabad Steelcraft make a profit in Q2 FY27?
Yes. Net profit was ₹3.33 crore, against a net profit of ₹7.46 crore in Q2 FY26.
What was Ahmedabad Steelcraft's EPS in Q2 FY27?
Basic earnings per share were ₹2.21, against ₹6.73 in Q2 FY26.
How did Ahmedabad Steelcraft shares react to the Q2 FY27 results?
On the reaction day the stock moved −7.6% from the previous close; the median Iron & Steel Products stock moved +0.6%.
When did Ahmedabad Steelcraft announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of 4Rth Board Meeting Of The Company (BSE, 31 October 2026) · PDF
- Board Meeting Outcome for Outcome Of 4Th (04/2026-27) Meeting Of The Board Of Directors Of The Company Held On November 05, 2026 (BSE, 5 November 2026) · PDF
- Results For The Quarter Ended On September 30,2026 (BSE, 5 November 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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