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Ashish Polyplast Q2 FY27 results: net profit ₹0.05 crore vs ₹0.07 crore loss, revenue up 5.1%
Ashish Polyplast Ltd reported standalone revenue of ₹3.88 crore in Q2 FY27, up 5.1% from Q2 FY26. EBITDA rose 70.0% to ₹0.17 crore and the margin expanded 1.6 percentage points to 4.4%, while the company returned to quarterly profit after a loss in the year-ago quarter.
Key points
- Q2 FY27 standalone revenue was ₹3.88 crore, up 5.1% from ₹3.69 crore in Q2 FY26 and 13.1% from ₹3.43 crore in Q1 FY27.
- EBITDA was ₹0.17 crore in Q2 FY27, against ₹0.10 crore in Q2 FY26 and ₹0.11 crore in Q1 FY27.
- EBITDA margin increased to 4.4% from 2.8% in Q2 FY26 and rose 1.2 percentage points from Q1 FY27.
- The company reported a net profit of ₹0.05 crore and basic EPS of ₹0.15, after a net loss of ₹0.07 crore and basic EPS of ₹0.21 in Q2 FY26.
- H1 FY27 profit before tax was ₹0.79 crore and net profit was ₹0.74 crore, compared with ₹0.38 crore and ₹0.32 crore in H1 FY26.
How did Ashish Polyplast perform in Q2 FY27?
Ashish Polyplast reported standalone revenue of ₹3.88 crore in Q2 FY27, up ₹0.19 crore or 5.1% from ₹3.69 crore in Q2 FY26. Against Q1 FY27, revenue was higher by ₹0.45 crore or 13.1%. The filing reported the results for the July–September 2026 quarter as unaudited and subject to limited review by the statutory auditors.
EBITDA increased to ₹0.17 crore from ₹0.10 crore in Q2 FY26, a rise of ₹0.07 crore or 70.0%. The EBITDA margin was 4.4%, up 1.6 percentage points from 2.8% and 1.2 percentage points from 3.2% in Q1 FY27. Profit before tax was ₹0.14 crore, compared with a loss of ₹0.11 crore in Q2 FY26 and ₹0.64 crore in Q1 FY27.
Net profit was ₹0.05 crore in Q2 FY27, against a net loss of ₹0.07 crore in Q2 FY26 and net profit of ₹0.68 crore in Q1 FY27. Basic EPS was ₹0.15, compared with a loss of ₹0.21 per share in Q2 FY26 and ₹2.02 in Q1 FY27. No consolidated figures were given in the supplied results.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 3.88 | 3.43 | 3.69 | +5.1% | +13.1% |
| Other income | 0.07 | 0.64 | −0.12 | −89.1% | |
| Total expenses | 3.81 | 3.42 | 3.68 | +3.5% | +11.4% |
| EBITDA | 0.17 | 0.11 | 0.10 | +70.0% | +54.5% |
| EBITDA margin | 4.4% | 3.2% | 2.8% | +1.6 pp | +1.2 pp |
| Profit before tax | 0.14 | 0.64 | −0.11 | turned to profit | −78.1% |
| Tax | 0.09 | −0.04 | −0.04 | ||
| Net profit | 0.05 | 0.68 | −0.07 | turned to profit | −92.6% |
| EPS (₹) | 0.15 | 2.02 | −0.21 | turned to profit | −92.6% |
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 Ashish Polyplast's costs and profit?
Total expenses were ₹3.81 crore in Q2 FY27, up ₹0.13 crore or 3.5% from ₹3.68 crore in Q2 FY26. Cost of materials consumed increased by ₹0.50 crore or 17.7% to ₹3.33 crore, employee cost rose by ₹0.02 crore or 13.3% to ₹0.17 crore, and depreciation increased by ₹0.01 crore or 16.7% to ₹0.07 crore. Finance costs remained unchanged at ₹0.03 crore, while other expenses fell by ₹0.03 crore or 9.7% to ₹0.28 crore.
Other income was ₹0.07 crore, compared with negative other income of ₹0.12 crore in Q2 FY26, an improvement of ₹0.19 crore. The company reported no exceptional item in either quarter. Tax expense was ₹0.09 crore, compared with a tax credit of ₹0.04 crore in Q2 FY26, a difference of ₹0.13 crore.
Against Q1 FY27, total expenses were higher by ₹0.39 crore or 11.4%, led by a ₹0.79 crore or 31.1% increase in cost of materials to ₹3.33 crore. Other expenses declined by ₹0.11 crore or 28.2% to ₹0.28 crore, while employee cost, finance costs and depreciation were unchanged at ₹0.17 crore, ₹0.03 crore and ₹0.07 crore, respectively.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 3.33 | 2.83 | +0.50 | +17.7% |
| Employee cost | 0.17 | 0.15 | +0.02 | +13.3% |
| Finance costs | 0.03 | 0.03 | 0 | +0.0% |
| Depreciation | 0.07 | 0.06 | +0.01 | +16.7% |
| Other expenses | 0.28 | 0.31 | −0.03 | −9.7% |
| Total expenses | 3.81 | 3.68 | +0.13 | +3.5% |
| Other income | 0.07 | −0.12 | +0.19 | |
| Tax | 0.09 | −0.04 | +0.13 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, revenue was ₹7.31 crore, down ₹0.12 crore or 1.6% from ₹7.43 crore in H1 FY26. Total income rose ₹0.29 crore or 3.8% to ₹8.02 crore from ₹7.73 crore, as other income was higher.
Profit before tax for H1 FY27 was ₹0.79 crore, up ₹0.41 crore or 107.9% from ₹0.38 crore in H1 FY26. Net profit rose ₹0.42 crore or 131.2% to ₹0.74 crore from ₹0.32 crore, while basic EPS increased from ₹0.94 to ₹2.17.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 7.31 | 7.43 | −1.6% |
| Profit before tax | 0.79 | 0.38 | +107.9% |
| Net profit | 0.74 | 0.32 | +131.2% |
| EPS (₹) | 2.17 | 0.94 | +130.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹10.37 crore, up from ₹9.54 crore at 31 March 2026. Total equity rose to ₹7.56 crore from ₹6.84 crore, borrowings increased to ₹1.81 crore from ₹1.50 crore, and cash and cash equivalents were ₹0.55 crore against ₹0.48 crore. Inventories fell to ₹1.03 crore from ₹1.42 crore, while trade receivables increased to ₹1.67 crore from ₹1.00 crore.
H1 FY27 operating cash flow was negative ₹0.01 crore, compared with ₹0.60 crore in H1 FY26. Investing cash flow was negative ₹0.18 crore, compared with negative ₹0.46 crore, while financing cash flow was ₹0.25 crore against negative ₹0.07 crore. Capital expenditure was ₹0.09 crore in H1 FY27, against ₹0.00 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 10.37 | 9.54 |
| Total equity | 7.56 | 6.84 |
| Borrowings | 1.81 | 1.50 |
| Cash and equivalents | 0.55 | 0.48 |
| Inventories | 1.03 | 1.42 |
| Trade receivables | 1.67 | 1 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −0.01 | 0.60 |
| Cash from investing | −0.18 | −0.46 |
| Cash from financing | 0.25 | −0.07 |
| Capital expenditure | 0.09 | 0 |
Source: Company's results filing (XBRL).
How has Ashish Polyplast done over the last 8 quarters?
Revenue reached its highest point in the reported series at ₹4.47 crore in Q3 FY25 and its lowest at ₹3.43 crore in Q1 FY27. Revenue then rose to ₹3.88 crore in Q2 FY27, ending above Q1 FY27 but below Q3 FY25.
Net profit peaked at ₹0.68 crore in Q1 FY27 and bottomed at a loss of ₹0.40 crore in Q4 FY25. It fell to ₹0.05 crore in Q2 FY27. EBITDA margin was highest at 5.5% in Q3 FY26 and lowest at 2.5% in Q4 FY25, before increasing to 4.4% in Q2 FY27 from 3.2% in Q1 FY27.
How did Ashish Polyplast shares react?
The filing was made after market hours. The stock closed unchanged on the reaction day, and by the next day’s close it was down 1.2% from its pre-results close. The industry median moved 0.1% over the same next-day close, leaving Ashish Polyplast 1.3 percentage points behind the sector median.
Earlier reaction-day moves were mixed: the stock rose 0.7% on 14 May 2026, fell 6.1% on 23 January 2026, fell 1.2% on 11 November 2025 and rose 5.0% on 8 August 2025. The previous close used for the reaction comparison was ₹24.80.
| After the filing | Stock | Plastic Products - Industrial median |
|---|---|---|
| Reaction day | +0.0% | +0.0% |
| Next day | −1.2% | +0.1% |
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 May 2026 | +0.7% |
| 23 January 2026 | −6.1% |
| 11 November 2025 | −1.2% |
| 8 August 2025 | +5.0% |
| 21 May 2025 | −0.1% |
| 18 July 2024 | −2.0% |
| 25 April 2024 | −5.0% |
Source: MarketPing price-reaction measurement.
How did other Plastic Products - Industrial companies do?
Sixteen other Plastic Products - Industrial companies had filed for the quarter by 4 November 2026, and their median revenue growth was 24.8%. Ashish Polyplast’s revenue growth was lower than that of 12 peers and higher than that of 4 peers. Eleven of the 20 companies for which profit was compared reported higher profit.
| Ashish Polyplast revenue growth (YoY) | +5.1% |
|---|---|
| Median of 16 other Plastic Products - Industrial companies | +24.8% |
| Companies with slower revenue growth than Ashish Polyplast | 4 of 16 |
| Companies with faster revenue growth than Ashish Polyplast | 12 of 16 |
| Companies whose net profit rose | 11 of 20 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Ashish Polyplast's revenue in Q2 FY27?
Revenue from operations was ₹3.88 crore, up 5.1% from ₹3.69 crore in Q2 FY26 (standalone).
Did Ashish Polyplast make a profit in Q2 FY27?
Yes. Net profit was ₹0.05 crore, against a net loss of ₹0.07 crore in Q2 FY26.
What was Ashish Polyplast's EPS in Q2 FY27?
Basic earnings per share were ₹0.15, against a loss of ₹0.21 in Q2 FY26.
How did Ashish Polyplast shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.0% from the previous close; the median Plastic Products - Industrial stock moved +0.0%.
When did Ashish Polyplast announce its Q2 FY27 results?
On 27 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for BOARD MEETING ON 27/10/2026 TO CONSIDER UNAUDITED FINANCIAL RESULT FOR QUARTER ENDED 30/09/2026 (BSE, 15 October 2026) · PDF
- Board Meeting Outcome for An Intimation Of Outcome Of Board Meeting Held On 27Th October, 2026 To Consider Un-Audited Financial Results For 2Nd Quarter And Half Year Ended 30Th September, 2026. (BSE, 27 October 2026) · PDF
- Submission Of Un-Audited Financial Result Of The Company For The 2Nd Quarter And Half Year Ended On 30Th September, 2026 Along With Limited Review Reports Of Auditors (BSE, 27 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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