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Ashoka Metcast Q2 FY27 results: net profit up 3.7% to ₹3.07 crore, revenue down 30.5%
Ashoka Metcast Limited reported consolidated Q2 FY27 revenue of ₹3.62 crore, down 30.5% from the year-ago quarter, while net profit rose 3.7% to ₹3.07 crore. EBITDA moved to a loss of ₹3.26 crore from a profit of ₹1.11 crore, as higher other expenses outweighed increased other income; basic EPS was ₹1.23.
Key points
- Consolidated Q2 FY27 revenue was ₹3.62 crore, down 30.5% from ₹5.21 crore in Q2 FY26.
- The company reported a net profit of ₹3.07 crore in Q2 FY27, up 3.7% from ₹2.96 crore a year earlier.
- EBITDA was a loss of ₹3.26 crore in Q2 FY27 against a profit of ₹1.11 crore in Q2 FY26, while the margin fell to -89.9% from 21.3%.
- Basic EPS was ₹1.23, up 4.2% from ₹1.18 in the year-ago quarter but down 4.7% from ₹1.29 in Q1 FY27.
- Other income was ₹6.93 crore, up 173.9% year on year, while other expenses rose 1191.3% to ₹2.97 crore.
How did Ashoka Metcast perform in Q2 FY27?
Ashoka Metcast reported consolidated Q2 FY27 revenue of ₹3.62 crore, down 30.5% from ₹5.21 crore in the year-ago quarter and down 11.1% from ₹4.07 crore in Q1 FY27. Total income was ₹10.55 crore, up 36.1% from ₹7.75 crore a year earlier and up 21.3% from ₹8.70 crore in the previous quarter.
EBITDA moved to a loss of ₹3.26 crore from a profit of ₹1.11 crore in Q2 FY26, while the margin fell to -89.9% from 21.3%. Profit before tax was ₹3.14 crore against ₹3.12 crore a year earlier and ₹3.38 crore in Q1 FY27. Net profit was ₹3.07 crore, up 3.7% from ₹2.96 crore but down 5.0% from ₹3.23 crore in the previous quarter.
Basic EPS was ₹1.23, compared with ₹1.18 in Q2 FY26 and ₹1.29 in Q1 FY27. On the standalone basis, revenue was ₹1.18 crore and net profit was ₹0.15 crore, compared with ₹0.09 crore in the year-ago quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 3.62 | 4.07 | 5.21 | −30.5% | −11.1% |
| Other income | 6.93 | 4.63 | 2.53 | +173.9% | +49.7% |
| Total expenses | 7.41 | 5.32 | 4.63 | +60.0% | +39.3% |
| EBITDA | −3.26 | −0.74 | 1.11 | turned to loss | |
| EBITDA margin | -89.9% | -18.1% | 21.3% | −111.2 pp | −71.8 pp |
| Profit before tax | 3.14 | 3.38 | 3.12 | +0.6% | −7.1% |
| Tax | 0.07 | 0.15 | 0.16 | −56.2% | −53.3% |
| Net profit | 3.07 | 3.23 | 2.96 | +3.7% | −5.0% |
| EPS (₹) | 1.23 | 1.29 | 1.18 | +4.2% | −4.7% |
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 Ashoka Metcast's costs and profit?
Total expenses rose 60.0% to ₹7.41 crore in Q2 FY27 from ₹4.63 crore in Q2 FY26. Cost of materials fell 16.0% to ₹3.62 crore, employee cost rose 13.3% to ₹0.34 crore, finance costs fell 7.9% to ₹0.35 crore and depreciation rose 20.0% to ₹0.18 crore. Other expenses rose 1191.3% to ₹2.97 crore from ₹0.23 crore, the largest increase in the cost lines provided.
Other income rose 173.9% to ₹6.93 crore from ₹2.53 crore in the year-ago quarter. Despite the increase in other income and lower tax expense of ₹0.07 crore, which was down 56.2% from ₹0.16 crore, EBITDA moved to a loss of ₹3.26 crore. There was no exceptional item in the quarter. The filing did not state the reasons for the changes in other expenses or other income.
Against Q1 FY27, total expenses rose 39.3% to ₹7.41 crore, including a rise of ₹2.22 crore in other expenses to ₹2.97 crore. Cost of materials fell 23.8% to ₹3.62 crore, while other income rose 49.7% to ₹6.93 crore and tax fell 53.3% to ₹0.07 crore. EBITDA moved from a loss of ₹0.74 crore to a loss of ₹3.26 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 3.62 | 4.31 | −0.69 | −16.0% |
| Employee cost | 0.34 | 0.30 | +0.04 | +13.3% |
| Finance costs | 0.35 | 0.38 | −0.03 | −7.9% |
| Depreciation | 0.18 | 0.15 | +0.03 | +20.0% |
| Other expenses | 2.97 | 0.23 | +2.74 | +1191.3% |
| Total expenses | 7.41 | 4.63 | +2.78 | +60.0% |
| Other income | 6.93 | 2.53 | +4.40 | +173.9% |
| Tax | 0.07 | 0.16 | −0.09 | −56.2% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹7.69 crore, down 27.9% from ₹10.67 crore in H1 FY26. Total income rose 34.3% to ₹19.26 crore from ₹14.34 crore, while profit before tax rose 54.0% to ₹6.53 crore from ₹4.24 crore.
First-half net profit was ₹6.30 crore, up 54.0% from ₹4.09 crore in H1 FY26. Basic EPS increased 54.6% to ₹2.52 from ₹1.63. The company’s board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026 on 3 November 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 7.69 | 10.67 | −27.9% |
| Profit before tax | 6.53 | 4.24 | +54.0% |
| Net profit | 6.30 | 4.09 | +54.0% |
| EPS (₹) | 2.52 | 1.63 | +54.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹175.49 crore, compared with ₹208.38 crore at 31 March 2026, and total equity was ₹140.06 crore against ₹133.76 crore. Borrowings fell to ₹14.99 crore from ₹57.73 crore, while cash was ₹1.69 crore compared with ₹1.79 crore. Inventories were ₹50.92 crore against ₹50.98 crore, trade receivables ₹29.55 crore against ₹27.64 crore and trade payables ₹10.48 crore against ₹6.81 crore.
For H1 FY27, operating cash flow was negative ₹29.64 crore, compared with negative ₹5.84 crore in H1 FY26. Investing cash flow was ₹2.03 crore against ₹4.05 crore, financing cash flow was ₹27.51 crore against ₹1.82 crore, and capital expenditure was ₹0.12 crore against ₹0.27 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 175.49 | 208.38 |
| Total equity | 140.06 | 133.76 |
| Borrowings | 14.99 | 57.73 |
| Cash and equivalents | 1.69 | 1.79 |
| Inventories | 50.92 | 50.98 |
| Trade receivables | 29.55 | 27.64 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −29.64 | −5.84 |
| Cash from investing | 2.03 | 4.05 |
| Cash from financing | 27.51 | 1.82 |
| Capital expenditure | 0.12 | 0.27 |
Source: Company's results filing (XBRL).
How has Ashoka Metcast done over the last 8 quarters?
Revenue reached its highest point in the reported series at ₹10.35 crore in Q4 FY26 and its lowest at ₹3.62 crore in Q2 FY27. Profit peaked at ₹4.49 crore in Q3 FY26, while the EBITDA margin bottomed at -89.9% in Q2 FY27 after reaching 36.5% in Q3 FY26. Revenue and the EBITDA margin moved lower in the latest quarter, while profit remained above the prior quarter’s level.
Net profit rose year on year in each of the last four quarters. In Q2 FY27, net profit was ₹3.07 crore, down from ₹3.23 crore in Q1 FY27, while the EBITDA margin fell from -18.1% to -89.9% and revenue declined from ₹4.07 crore to ₹3.62 crore.
Which businesses drove the quarter?
In the reported Steel Trading segment, revenue was ₹3.62 crore in Q2 FY27, down 30.5% from ₹5.21 crore in Q2 FY26. Segment EBIT was ₹0.05 crore, compared with ₹1.64 crore a year earlier, and the EBIT margin was 1.5%.
The reported Trading of Goods segment had revenue of ₹0.0 crore and EBIT of ₹0.0 crore in both Q2 FY27 and Q2 FY26, so no revenue growth rate or EBIT margin was reported. The Others segment recorded revenue of ₹0.0 crore and EBIT of ₹6.93 crore, compared with EBIT of ₹2.53 crore in the year-ago quarter.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Steel Trading | 3.62 | −30.5% | 0.05 | 1.5% |
| Trading of Goods | 0 | 0 | ||
| Others | 0 | 6.93 |
Source: Company's results filing (XBRL segment data).
How did Ashoka Metcast shares react?
Ashoka Metcast’s shares rose 3.5% within the first five minutes after the filing appeared after market hours and were up 3.1% after 30 minutes. On the reaction day, the stock closed 0.9% above its pre-results close, while the median move for the Trading - Metals industry was 0.8%; Ashoka Metcast therefore recorded an excess industry move of 0.2 percentage points.
Past reaction-day moves were mixed: the stock was up 5.7% on 13 February 2026, up 4.0% on 2 May 2026 and up 1.0% on 12 August 2026. Earlier moves included a fall of 9.9% on 28 May 2025 and a fall of 3.6% on 12 August 2024. Data for the next day and five days after the filing was not provided.
| After the filing | Stock | Trading - Metals median |
|---|---|---|
| 5 minutes | +3.5% | |
| 15 minutes | +3.5% | |
| 30 minutes | +3.1% | |
| Reaction day | +0.9% | +0.8% |
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 |
|---|---|
| 12 August 2026 | +1.0% |
| 2 May 2026 | +4.0% |
| 13 February 2026 | +5.7% |
| 11 November 2025 | +1.0% |
| 11 August 2025 | −0.4% |
| 28 May 2025 | −9.9% |
| 13 February 2025 | −2.6% |
| 12 August 2024 | −3.6% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Ashoka Metcast's revenue in Q2 FY27?
Revenue from operations was ₹3.62 crore, down 30.5% from ₹5.21 crore in Q2 FY26 (consolidated).
Did Ashoka Metcast make a profit in Q2 FY27?
Yes. Net profit was ₹3.07 crore, against a net profit of ₹2.96 crore in Q2 FY26.
What was Ashoka Metcast's EPS in Q2 FY27?
Basic earnings per share were ₹1.23, against ₹1.18 in Q2 FY26.
How did Ashoka Metcast shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.9% from the previous close; the median Trading - Metals stock moved +0.8%.
When did Ashoka Metcast announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting To Be Held On 03/11/2026 (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Board Meeting Held On 03/11/2026 (BSE, 3 November 2026) · PDF
- Results-Financial Results For Sept 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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