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Arfin India Q2 FY27 results: net profit up 143.7% to ₹5.97 crore, revenue up 121.3%
Arfin India Limited reported consolidated revenue of ₹283.18 crore for Q2 FY27, up 121.3% from ₹127.94 crore a year earlier, with the EBITDA margin easing to 4.7% from 7.3%. Net profit rose to ₹5.97 crore from ₹2.45 crore and basic EPS to ₹0.35 from ₹0.15. The board approved the unaudited results on 3 November 2026, which had been subjected to limited review by the statutory auditors.
Key points
- Consolidated revenue rose 121.3% to ₹283.18 crore in Q2 FY27 from ₹127.94 crore in Q2 FY26.
- EBITDA rose 42.9% to ₹13.36 crore, but the margin fell 2.6 percentage points to 4.7%.
- Net profit rose 143.7% to ₹5.97 crore and basic EPS rose to ₹0.35 from ₹0.15.
- Against Q1 FY27, revenue rose 33.1% to ₹283.18 crore and net profit rose 46.7% to ₹5.97 crore.
- For H1 FY27, revenue rose 109.4% to ₹495.95 crore and profit after tax rose 183.6% to ₹10.04 crore.
How did Arfin India perform in Q2 FY27?
Arfin India reported consolidated revenue of ₹283.18 crore for Q2 FY27, up 121.3% from ₹127.94 crore in the year-ago quarter and 33.1% from ₹212.77 crore in Q1 FY27. Total income was ₹283.28 crore against ₹128.46 crore a year earlier and ₹212.96 crore in the previous quarter, with other income of ₹0.10 crore.
EBITDA rose to ₹13.36 crore from ₹9.35 crore in Q2 FY26 and ₹10.15 crore in Q1 FY27, while the EBITDA margin fell 2.6 percentage points year on year to 4.7% and edged down 0.1 percentage points from 4.8% in the previous quarter. Profit before tax was ₹7.18 crore against ₹3.68 crore a year earlier and ₹4.64 crore in Q1 FY27, and the net profit margin was 2.1%, up 0.2 percentage points from the year-ago quarter.
Net profit rose to ₹5.97 crore from ₹2.45 crore a year earlier and ₹4.07 crore in Q1 FY27, while basic EPS rose to ₹0.35 from ₹0.15 and ₹0.24 respectively. On the standalone basis, revenue was ₹285.59 crore, up 123.0% from ₹127.94 crore, with a net profit of ₹5.62 crore against profit before tax of ₹2.05 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 283.18 | 212.77 | 127.94 | +121.3% | +33.1% |
| Other income | 0.10 | 0.19 | 0.52 | −80.8% | −47.4% |
| Total expenses | 276.11 | 208.32 | 124.78 | +121.3% | +32.5% |
| EBITDA | 13.36 | 10.15 | 9.35 | +42.9% | +31.6% |
| EBITDA margin | 4.7% | 4.8% | 7.3% | −2.6 pp | −0.1 pp |
| Profit before tax | 7.18 | 4.64 | 3.68 | +95.1% | +54.7% |
| Tax | 1.21 | 0.56 | 1.22 | −0.8% | +116.1% |
| Net profit | 5.97 | 4.07 | 2.45 | +143.7% | +46.7% |
| EPS (₹) | 0.35 | 0.24 | 0.15 | +133.3% | +45.8% |
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 Arfin India's costs and profit?
Total expenses rose 121.3% to ₹276.11 crore from ₹124.78 crore in Q2 FY26, keeping pace with revenue, while EBITDA rose 42.9% to ₹13.36 crore. Cost of materials was the largest expense line at ₹253.85 crore, up ₹122.52 crore or 93.3% from ₹131.33 crore, and other expenses rose 23.5% to ₹14.96 crore from ₹12.11 crore.
Employee cost rose 19.7% to ₹2.73 crore from ₹2.28 crore and depreciation rose 11.9% to ₹1.22 crore from ₹1.09 crore. Finance costs were ₹5.07 crore, down ₹0.04 crore or 0.8% from ₹5.11 crore. There was no exceptional item in the quarter. Against Q1 FY27, total expenses rose 32.5%, with cost of materials up ₹79.54 crore to ₹253.85 crore and finance costs up ₹0.57 crore.
Other income fell 80.8% to ₹0.10 crore from ₹0.52 crore in Q2 FY26 and ₹0.09 crore lower than ₹0.19 crore in the previous quarter. Tax was ₹1.21 crore, down ₹0.01 crore from ₹1.22 crore a year earlier and up ₹0.65 crore from ₹0.56 crore in Q1 FY27. The filing does not state the reasons for the movement in costs or other income.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 253.85 | 131.33 | +122.52 | +93.3% |
| Employee cost | 2.73 | 2.28 | +0.45 | +19.7% |
| Finance costs | 5.07 | 5.11 | −0.04 | −0.8% |
| Depreciation | 1.22 | 1.09 | +0.13 | +11.9% |
| Other expenses | 14.96 | 12.11 | +2.85 | +23.5% |
| Total expenses | 276.11 | 124.78 | +151.33 | +121.3% |
| Other income | 0.10 | 0.52 | −0.42 | −80.8% |
| Tax | 1.21 | 1.22 | −0.01 | −0.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, Arfin India reported consolidated revenue of ₹495.95 crore, up 109.4% from ₹236.80 crore in H1 FY26, and total income of ₹496.25 crore against ₹237.78 crore. Profit before tax rose 130.9% to ₹11.82 crore from ₹5.12 crore.
Net profit for the half year was ₹10.04 crore, up 183.6% from ₹3.54 crore in H1 FY26, and EPS rose to ₹0.60 from ₹0.21. The board approved the unaudited quarterly and half-year results on 3 November 2026 on both a standalone and consolidated basis, and the results were subjected to limited review by the statutory auditors.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 495.95 | 236.80 | +109.4% |
| Profit before tax | 11.82 | 5.12 | +130.9% |
| Net profit | 10.04 | 3.54 | +183.6% |
| EPS (₹) | 0.60 | 0.21 | +185.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets stood at ₹427.55 crore against ₹371.40 crore at 31 March 2026, and total equity was ₹178.37 crore against ₹170.35 crore. Borrowings fell to ₹111.10 crore from ₹129.27 crore, while cash and cash equivalents rose to ₹0.56 crore from ₹0.31 crore.
Inventories increased to ₹246.84 crore from ₹222.82 crore and trade receivables to ₹54.67 crore from ₹30.22 crore, while trade payables rose to ₹123.13 crore from ₹58.71 crore. For the first half, operating cash flow was ₹32.47 crore against a negative ₹16.31 crore in H1 FY26, and investing cash flow was negative ₹2.45 crore against negative ₹6.19 crore. Financing cash flow was negative ₹29.77 crore, compared with positive ₹22.17 crore a year earlier, and capital expenditure stood at ₹2.74 crore against ₹5.58 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 427.55 | 371.40 |
| Total equity | 178.37 | 170.35 |
| Borrowings | 111.10 | 129.27 |
| Cash and equivalents | 0.56 | 0.31 |
| Inventories | 246.84 | 222.82 |
| Trade receivables | 54.67 | 30.22 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 32.47 | −16.31 |
| Cash from investing | −2.45 | −6.19 |
| Cash from financing | −29.77 | 22.17 |
| Capital expenditure | 2.74 | 5.58 |
Source: Company's results filing (XBRL).
How has Arfin India done over the last 7 quarters?
Revenue has risen year on year in each of the last three quarters, rising from ₹127.94 crore in Q2 FY26 to ₹187.96 crore in Q3 FY26 and ₹193.24 crore in Q4 FY26, before reaching ₹212.77 crore in Q1 FY27 and ₹283.18 crore in Q2 FY27. Net profit has also risen year on year in each of the last three quarters, climbing from ₹2.45 crore to ₹5.09 crore, ₹6.82 crore and then dipping to ₹4.07 crore in Q1 FY27 before recovering to ₹5.97 crore.
The EBITDA margin peaked at 8.5% in Q4 FY26 and bottomed at 4.3% in Q4 FY25, easing from 6.1% in Q1 FY26 to 7.3% in Q2 FY26 and 7.4% in Q3 FY26 before falling to 4.8% in Q1 FY27 and 4.7% in Q2 FY27. Revenue, profit and margin have all moved higher on a year-on-year basis in the three quarters to September 2026.
How did Arfin India shares react?
The filing appeared in market hours, and the stock moved within the first half hour of trading. It fell 1.2% after 5 minutes, rose 1.2% after 15 minutes and was down 1.0% after 30 minutes, against a pre-results close of ₹90.11 and a price of ₹96.16 when the filing appeared.
On the reaction day, the stock closed 5.0% above its pre-results close, and by the next day's close it was up 5.3% from the same close. The median move for the industry's other stocks was negative 0.3% on the reaction day and 2.2% by the next day's close, leaving the stock 5.3 percentage points ahead of the sector on the reaction day and 3.1 percentage points ahead by the next day's close.
Earlier results-day moves were mixed: the stock fell 2.3% on 11 August 2026, fell 1.2% on 11 May 2026 and fell 1.8% on 31 January 2026, while it rose 1.8% on 11 November 2025 and 5.7% on 4 August 2025.
| After the filing | Stock | Aluminium median |
|---|---|---|
| 5 minutes | −1.2% | |
| 15 minutes | +1.2% | |
| 30 minutes | −1.0% | |
| Reaction day | +5.0% | −0.3% |
| Next day | +5.3% | +2.2% |
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 | −2.3% |
| 11 May 2026 | −1.2% |
| 31 January 2026 | −1.8% |
| 11 November 2025 | +1.8% |
| 4 August 2025 | +5.7% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Arfin India's revenue in Q2 FY27?
Revenue from operations was ₹283.18 crore, up 121.3% from ₹127.94 crore in Q2 FY26 (consolidated).
Did Arfin India make a profit in Q2 FY27?
Yes. Net profit was ₹5.97 crore, against a net profit of ₹2.45 crore in Q2 FY26.
What was Arfin India's EPS in Q2 FY27?
Basic earnings per share were ₹0.35, against ₹0.15 in Q2 FY26.
How did Arfin India shares react to the Q2 FY27 results?
On the reaction day the stock moved +5.0% from the previous close; the median Aluminium stock moved −0.3%.
When did Arfin India announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Meeting Of The Company For The Quarter And Half Year Ended September 30, 2026 (BSE, 28 October 2026) · PDF
- Board Meeting Outcome for For The Meeting Of The Board Of Directors Held On Tuesday, November 03, 2026 (BSE, 3 November 2026) · PDF
- Approval Of Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 3 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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