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- Q2 FY27 results
BALMER LAWRIE & CO Q2 FY27 results: net profit up 105.3% to ₹78.99 crore, revenue up 26.0%
Balmer Lawrie & Co Ltd reported consolidated Q2 FY27 revenue of ₹800.72 crore, up 26.0% from Q2 FY26. EBITDA rose 57.0% to ₹105.92 crore and the EBITDA margin widened 2.6 percentage points to 13.2%, while profit after tax was ₹78.99 crore and basic EPS was ₹4.64.
Key points
- Consolidated Q2 FY27 revenue was ₹800.72 crore, up ₹165.28 crore or 26.0% from Q2 FY26.
- EBITDA was ₹105.92 crore, up ₹38.46 crore or 57.0% year on year, with the margin at 13.2%.
- Profit after tax was ₹78.99 crore, up ₹40.52 crore or 105.3% from ₹38.47 crore in Q2 FY26.
- Basic EPS rose to ₹4.64 from ₹3.31, an increase of ₹1.33 or 40.2%.
- In H1 FY27, revenue was ₹1,549.46 crore and profit after tax was ₹149.92 crore.
How did BALMER LAWRIE & CO perform in Q2 FY27?
BALMER LAWRIE & CO reported consolidated revenue of ₹800.72 crore for Q2 FY27, up ₹165.28 crore or 26.0% from ₹635.44 crore in Q2 FY26. Against Q1 FY27, revenue rose ₹51.99 crore or 6.9% from ₹748.73 crore, while total income increased ₹52 crore or 6.8% to ₹811.36 crore.
EBITDA was ₹105.92 crore in Q2 FY27, up ₹38.46 crore or 57.0% from ₹67.46 crore a year earlier and ₹6.10 crore or 6.1% from ₹99.82 crore in Q1 FY27. The EBITDA margin was 13.2%, compared with 10.6% in Q2 FY26 and 13.3% in Q1 FY27.
Profit before tax increased to ₹85.83 crore from ₹55.50 crore in Q2 FY26 and ₹77.93 crore in Q1 FY27. Profit after tax was ₹78.99 crore, against ₹38.47 crore a year earlier and ₹70.93 crore in the previous quarter; basic EPS was ₹4.64, compared with ₹3.31 and ₹4.18, respectively.
On the standalone basis, revenue was ₹800.38 crore, up 27.1% year on year, and profit after tax was ₹67.66 crore. Profit before tax on that basis was ₹48.48 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 800.72 | 748.73 | 635.44 | +26.0% | +6.9% |
| Other income | 10.63 | 10.63 | 10.71 | −0.7% | +0.0% |
| Total expenses | 725.53 | 681.43 | 590.65 | +22.8% | +6.5% |
| EBITDA | 105.92 | 99.82 | 67.46 | +57.0% | +6.1% |
| EBITDA margin | 13.2% | 13.3% | 10.6% | +2.6 pp | −0.1 pp |
| Profit before tax | 85.83 | 77.93 | 55.50 | +54.6% | +10.1% |
| Tax | 25.97 | 21.46 | 17.02 | +52.6% | +21.0% |
| Net profit | 78.99 | 70.93 | 38.47 | +105.3% | +11.4% |
| EPS (₹) | 4.64 | 4.18 | 3.31 | +40.2% | +11.0% |
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 BALMER LAWRIE & CO's costs and profit?
Total expenses rose ₹134.88 crore or 22.8% to ₹725.53 crore from ₹590.65 crore in Q2 FY26. Cost of materials was up ₹120.08 crore or 29.6% at ₹525.22 crore, employee cost increased ₹8.39 crore or 12.7% to ₹74.51 crore, and finance costs rose ₹4.25 crore or 59.9% to ₹11.35 crore.
Depreciation increased ₹3.80 crore or 24.4% from ₹15.58 crore to ₹19.38 crore, while other expenses edged up ₹0.45 crore or 0.5% to ₹88.88 crore. Other income declined ₹0.08 crore or 0.7% from ₹10.71 crore to ₹10.63 crore. There was no exceptional item in either quarter.
Tax expense was ₹25.97 crore in Q2 FY27, up ₹8.95 crore or 52.6% from ₹17.02 crore in Q2 FY26. Profit before tax rose ₹30.33 crore or 54.6%, while profit after tax increased ₹40.52 crore or 105.3%; the profit margin widened 3.8 percentage points to 9.9%.
Against Q1 FY27, total expenses increased ₹44.10 crore or 6.5%, including a ₹29.82 crore rise in cost of materials. Finance costs fell ₹1.49 crore or 11.6%, depreciation declined ₹0.31 crore or 1.6%, and other expenses fell ₹6.24 crore or 6.6%; other income was unchanged. Tax expense increased ₹4.51 crore or 21.0%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 525.22 | 405.14 | +120.08 | +29.6% |
| Employee cost | 74.51 | 66.12 | +8.39 | +12.7% |
| Finance costs | 11.35 | 7.10 | +4.25 | +59.9% |
| Depreciation | 19.38 | 15.58 | +3.80 | +24.4% |
| Other expenses | 88.88 | 88.43 | +0.45 | +0.5% |
| Total expenses | 725.53 | 590.65 | +134.88 | +22.8% |
| Other income | 10.63 | 10.71 | −0.08 | −0.7% |
| Tax | 25.97 | 17.02 | +8.95 | +52.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹1,549.46 crore, up ₹233.36 crore or 17.7% from ₹1,316.1 crore in H1 FY26. Total income rose ₹234.44 crore or 17.5% to ₹1,570.71 crore from ₹1,336.27 crore.
Profit before tax increased ₹36.85 crore or 29.0% to ₹163.76 crore from ₹126.91 crore. Profit after tax rose ₹27.39 crore or 22.4% to ₹149.92 crore from ₹122.53 crore, while basic EPS increased ₹1.48 or 20.2% to ₹8.82 from ₹7.34.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,549 | 1,316 | +17.7% |
| Profit before tax | 163.76 | 126.91 | +29.0% |
| Net profit | 149.92 | 122.53 | +22.4% |
| EPS (₹) | 8.82 | 7.34 | +20.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹3,624.33 crore on 30 September 2026, compared with ₹3,349.35 crore on 31 March 2026. Total equity increased to ₹2,147.83 crore from ₹2,083.17 crore, while borrowings rose to ₹185.68 crore from ₹74.89 crore and cash declined to ₹26.76 crore from ₹33.75 crore.
Inventories increased to ₹223.78 crore from ₹168.65 crore and trade receivables rose to ₹669.3 crore from ₹534.91 crore. Trade payables fell to ₹326.23 crore from ₹345.36 crore.
Operating cash flow for H1 FY27 was negative ₹93.64 crore, compared with negative ₹68.22 crore in H1 FY26. Investing cash flow was ₹97.09 crore versus ₹163.59 crore, financing cash flow was negative ₹10.44 crore versus negative ₹97.29 crore, and capital expenditure was ₹26.94 crore against ₹23.64 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,624 | 3,349 |
| Total equity | 2,148 | 2,083 |
| Borrowings | 185.68 | 74.89 |
| Cash and equivalents | 26.76 | 33.75 |
| Inventories | 223.78 | 168.65 |
| Trade receivables | 669.30 | 534.91 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −93.64 | −68.22 |
| Cash from investing | 97.09 | 163.59 |
| Cash from financing | −10.44 | −97.29 |
| Capital expenditure | 26.94 | 23.64 |
Source: Company's results filing (XBRL).
How has BALMER LAWRIE & CO done over the last 8 quarters?
Revenue rose in each of the last four quarters on a year-on-year basis, as did profit. Across the reported series, revenue reached its highest level at ₹800.72 crore in Q2 FY27 and its lowest at ₹608.16 crore in Q4 FY25, with the latest result continuing the rise from Q1 FY27.
Profit after tax was highest at ₹82.8 crore in Q4 FY26 and lowest at ₹38.47 crore in Q2 FY26. It declined to ₹70.93 crore in Q1 FY27 before recovering to ₹78.99 crore in Q2 FY27. The EBITDA margin bottomed at 10.6% in Q2 FY26, peaked at 15.6% in Q4 FY25 and stood at 13.2% in the latest quarter.
Which businesses drove the quarter?
Logistics Services was the largest contributor to the increase in segment revenue, reporting ₹238.76 crore against ₹127.85 crore in Q2 FY26, an 86.8% rise. Its EBIT increased to ₹44.08 crore from ₹18.11 crore, with an EBIT margin of 18.5%.
Industrial Packaging revenue rose 16.6% to ₹246.61 crore from ₹211.56 crore, while EBIT increased to ₹15.84 crore from ₹14.29 crore. Logistics Infrastructure reported revenue of ₹78.88 crore, up 12.8% from ₹69.9 crore, and EBIT of ₹11.82 crore against ₹8.11 crore.
Greases & Lubricants revenue increased 3.5% to ₹162.38 crore from ₹156.93 crore, with EBIT rising to ₹20.54 crore from ₹16.63 crore. Travel & Vacations revenue fell 3.0% to ₹80.48 crore from ₹83.0 crore, while EBIT declined to ₹33.79 crore from ₹34.6 crore.
Others recorded revenue of ₹31.73 crore, up 22.7% from ₹25.85 crore, and an EBIT loss of ₹28.9 crore compared with an EBIT loss of ₹29.14 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Industrial Packaging | 246.61 | +16.6% | 15.84 | 6.4% |
| Logistics Services | 238.76 | +86.8% | 44.08 | 18.5% |
| Logistics Infrastructure | 78.88 | +12.8% | 11.82 | 15.0% |
| Travel & Vacations | 80.48 | −3.0% | 33.79 | 42.0% |
| Greases & Lubricants | 162.38 | +3.5% | 20.54 | 12.7% |
| Others | 31.73 | +22.7% | −28.90 | -91.1% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for Q2 FY27 and the first half of FY27, along with the statutory auditors’ limited review report, on 2 November 2026. The results were to be published in newspapers and uploaded to the company’s website.
In a separate same-day filing, the board recorded the Comptroller and Auditor General of India’s appointment of Gopal Sharma & Co. as statutory auditor for FY 2026-27. N P V & Associates LLP, P S Subramania Iyer & Co. and S N R & Company were appointed as branch auditors, effective from 2 November 2026.
How did BALMER LAWRIE & CO shares react?
The filing appeared after market hours. From the price when the results became available, the stock was down 2.7% after five minutes, 3.1% after 15 minutes and 3.0% after 30 minutes. It closed the reaction day 2.6% above its previous close, and by the next day’s close it was up 2.4% from the pre-results close.
On the reaction day, the Diversified industry’s other stocks recorded a median move of 0.5%, leaving BALMER LAWRIE & CO 2.0 percentage points ahead of the sector median. By the next day’s close, the industry median was 2.7% higher, while the stock’s cumulative gain was 2.4%, putting it 0.3 percentage points below the sector.
Earlier reaction-day moves were mixed: the shares fell 2.5% on 7 July 2026, 5.0% on 17 May 2026 and 1.9% on 6 November 2025. They also fell 4.6% on 15 May 2025 and 1.6% on 10 February 2025, while gaining 1.5% on 6 February 2026 and 2.4% on 5 November 2024.
| After the filing | Stock | Diversified median |
|---|---|---|
| 5 minutes | −2.7% | |
| 15 minutes | −3.1% | |
| 30 minutes | −3.0% | |
| Reaction day | +2.6% | +0.5% |
| Next day | +2.4% | +2.7% |
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 |
|---|---|
| 7 July 2026 | −2.5% |
| 17 May 2026 | −5.0% |
| 6 February 2026 | +1.5% |
| 6 November 2025 | −1.9% |
| 6 August 2025 | −0.3% |
| 15 May 2025 | −4.6% |
| 10 February 2025 | −1.6% |
| 5 November 2024 | +2.4% |
Source: MarketPing price-reaction measurement.
Quick answers
What was BALMER LAWRIE & CO's revenue in Q2 FY27?
Revenue from operations was ₹800.72 crore, up 26.0% from ₹635.44 crore in Q2 FY26 (consolidated).
Did BALMER LAWRIE & CO make a profit in Q2 FY27?
Yes. Net profit was ₹78.99 crore, against a net profit of ₹38.47 crore in Q2 FY26.
What was BALMER LAWRIE & CO's EPS in Q2 FY27?
Basic earnings per share were ₹4.64, against ₹3.31 in Q2 FY26.
How did BALMER LAWRIE & CO shares react to the Q2 FY27 results?
On the reaction day the stock moved +2.6% from the previous close; the median Diversified stock moved +0.5%.
When did BALMER LAWRIE & CO announce its Q2 FY27 results?
On 2 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration Of Unaudited Financial Results (Both Standalone And Consolidated) For The 2Nd Quarter And HY Of FY 2026-27 Ended On 30.09.2026&Closure Of Trading Window (BSE, 9 October 2026) · PDF
- Disclosure Under Regulation 30 And Regulation 33 Of SEBI (LODR) Regulations, 2015 - Unaudited Financial Results (Both Standalone And Consolidated) For The Second Quarter And Half-Year Of The Financial Year 2026-27 Ended On 30Th September, 2026 (BSE, 2 November 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 2Nd November, 2026 (BSE, 2 November 2026) · PDF
- Announcement under Regulation 30 (LODR)-Meeting Updates (BSE, 2 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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