- Home
- Results news
- Balrampur Chini Mills
- Q2 FY27 results
Balrampur Chini Mills Q2 FY27 results: net profit up 89.8% to ₹102.29 crore, revenue up 12.3%
Balrampur Chini Mills Limited reported consolidated revenue of ₹1,876 crore for Q2 FY27, up 12.3% from Q2 FY26. Net profit was ₹102.29 crore against ₹53.89 crore, while basic EPS rose to ₹4.84 from ₹2.67 and the EBITDA margin expanded to 9.1% from 7.2%.
Key points
- Consolidated revenue rose 12.3% year on year to ₹1,876 crore and was ₹239.49 crore higher than Q1 FY27.
- EBITDA was ₹171.40 crore, up 42.4% from ₹120.40 crore, with the margin widening by 1.9 percentage points to 9.1%.
- Net profit rose 89.8% to ₹102.29 crore, while basic EPS increased 81.3% to ₹4.84.
- H1 FY27 revenue was ₹3,513.07 crore and net profit was ₹146.44 crore, compared with ₹3,213.04 crore and ₹105.46 crore in H1 FY26.
- The board declared an interim dividend of 400%, or ₹4.00 per equity share, with 11 November 2026 as the record date.
How did Balrampur Chini Mills perform in Q2 FY27?
Balrampur Chini Mills reported consolidated revenue of ₹1,876 crore for Q2 FY27, up 12.3% from ₹1,671 crore in Q2 FY26 and 14.6% from ₹1,637 crore in Q1 FY27. EBITDA was ₹171.40 crore, compared with ₹120.40 crore a year earlier and ₹113.93 crore in the previous quarter; the margin rose to 9.1% from 7.2% and 7.0%, respectively.
Profit before tax increased to ₹144.13 crore from ₹70.59 crore in Q2 FY26 and ₹52.04 crore in Q1 FY27. Net profit was ₹102.29 crore, against ₹53.89 crore and ₹44.15 crore, respectively, while basic EPS rose to ₹4.84 from ₹2.67 and ₹2.16.
On a standalone basis, revenue was ₹1,876.28 crore and profit after tax was ₹95.93 crore, compared with ₹45.95 crore in the year-ago quarter. The standalone basic EPS was ₹4.54, against ₹2.28 in Q2 FY26 and ₹1.88 in Q1 FY27.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,876 | 1,637 | 1,671 | +12.3% | +14.6% |
| Other income | 33.57 | 14.91 | 8.73 | +284.5% | +125.2% |
| Total expenses | 1,766 | 1,600 | 1,609 | +9.7% | +10.4% |
| EBITDA | 171.40 | 113.93 | 120.40 | +42.4% | +50.4% |
| EBITDA margin | 9.1% | 7.0% | 7.2% | +1.9 pp | +2.1 pp |
| Profit before tax | 144.13 | 52.04 | 70.59 | +104.2% | +177.0% |
| Tax | 49.26 | 14.38 | 25.96 | +89.8% | +242.6% |
| Net profit | 102.29 | 44.15 | 53.89 | +89.8% | +131.7% |
| EPS (₹) | 4.84 | 2.16 | 2.67 | +81.3% | +124.1% |
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 Balrampur Chini Mills' costs and profit?
Total expenses were ₹1,766 crore in Q2 FY27, ₹156.81 crore higher than Q2 FY26 and ₹166.06 crore higher than Q1 FY27. Cost of materials consumed fell to ₹67.68 crore from ₹152.79 crore year on year and ₹259.69 crore in the previous quarter; the presentation attributed the year-on-year decline to lower distillery operations and lower maize consumption.
Other income increased to ₹33.57 crore from ₹8.73 crore in Q2 FY26 and ₹14.91 crore in Q1 FY27. Management said the Q2 FY27 other income included ₹6.50 crore of interest income on fixed deposits with banks and ₹16.95 crore from forfeiture of earnest money deposits.
Employee cost was ₹103.58 crore, finance costs were ₹15.91 crore, depreciation was ₹44.93 crore and other expenses were ₹101.90 crore. There was no exceptional item. Tax expense increased to ₹49.26 crore from ₹25.96 crore in Q2 FY26 and ₹14.38 crore in Q1 FY27, limiting the rise in net profit.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 67.68 | 152.79 | −85.11 | −55.7% |
| Employee cost | 103.58 | 99.55 | +4.03 | +4.0% |
| Finance costs | 15.91 | 14.23 | +1.68 | +11.8% |
| Depreciation | 44.93 | 44.32 | +0.61 | +1.4% |
| Other expenses | 101.90 | 95.86 | +6.04 | +6.3% |
| Total expenses | 1,766 | 1,609 | +156.81 | +9.7% |
| Other income | 33.57 | 8.73 | +24.84 | +284.5% |
| Tax | 49.26 | 25.96 | +23.30 | +89.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹3,513.07 crore, up 9.3% from ₹3,213.04 crore in H1 FY26. Total income rose 10.3% to ₹3,561.55 crore from ₹3,228.08 crore, while profit before tax increased 46.6% to ₹196.17 crore from ₹133.77 crore.
Net profit for the first half was ₹146.44 crore, up 38.9% from ₹105.46 crore, and basic EPS rose 34.9% to ₹7.04 from ₹5.22. The results were for the six months ended 30 September 2026 and remain unaudited and subject to a limited review.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3,513 | 3,213 | +9.3% |
| Profit before tax | 196.17 | 133.77 | +46.6% |
| Net profit | 146.44 | 105.46 | +38.9% |
| EPS (₹) | 7.04 | 5.22 | +34.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets declined to ₹7,196.54 crore at 30 September 2026 from ₹8,406.34 crore at 31 March 2026, while total equity rose to ₹4,748.85 crore from ₹4,138.11 crore. Borrowings fell to ₹1,543.7 crore from ₹3,169.35 crore and cash increased to ₹435.87 crore from ₹0.44 crore.
Inventories declined to ₹713.46 crore from ₹3,134.62 crore. Trade receivables were ₹29.62 crore against ₹179.24 crore, while trade payables were ₹41.37 crore against ₹282.31 crore at the previous balance-sheet date.
H1 FY27 operating cash flow was ₹2,621.27 crore, compared with ₹2,254.01 crore in H1 FY26. Investing cash flow was an outflow of ₹932.98 crore against ₹320.12 crore, financing cash flow was an outflow of ₹1,252.86 crore against ₹1,927.0 crore, and capital expenditure was ₹786.01 crore against ₹320.85 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 7,197 | 8,406 |
| Total equity | 4,749 | 4,138 |
| Borrowings | 1,544 | 3,169 |
| Cash and equivalents | 435.87 | 0.44 |
| Inventories | 713.46 | 3,135 |
| Trade receivables | 29.62 | 179.24 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 2,621 | 2,254 |
| Cash from investing | −932.98 | −320.12 |
| Cash from financing | −1,253 | −1,927 |
| Capital expenditure | 786.01 | 320.85 |
Source: Company's results filing (XBRL).
How has Balrampur Chini Mills done over the last 8 quarters?
Revenue rose year on year in each of the last seven quarters. It reached ₹1,876 crore in Q2 FY27 from ₹1,670.76 crore in Q2 FY26, after falling from ₹1,603.99 crore in Q4 FY26 and rising from ₹1,636.79 crore in Q1 FY27.
Net profit reached ₹102.29 crore in Q2 FY27, up from ₹44.15 crore in Q1 FY27 and ₹53.89 crore in Q2 FY26. Across the listed period, the highest quarterly profit was ₹229.12 crore in Q4 FY25 and the lowest was ₹44.15 crore in Q1 FY27.
The EBITDA margin recovered to 9.1% in Q2 FY27 from 7.0% in Q1 FY27 and 7.2% in Q2 FY26. It peaked at 24.3% in Q4 FY25 and bottomed at 7.0% in Q1 FY27.
Which businesses drove the quarter?
Sugar revenue rose 19.8% to ₹1,578.06 crore from ₹1,317.05 crore, while segment EBIT increased to ₹140.75 crore from ₹52.84 crore. The segment margin was 8.9%. Management attributed the increase to higher sales volume and improved realisation.
Distillery revenue fell 19.9% to ₹324.59 crore from ₹405.01 crore, while EBIT declined to ₹39.13 crore from ₹59.36 crore. Management said the margin was compressed because ethanol procurement prices were not revised despite higher sugarcane and operating costs.
Polylactic Acid revenue rose 194.2% to ₹16.85 crore from ₹5.73 crore, but segment EBIT was a loss of ₹5.58 crore against a loss of ₹1.01 crore. Others recorded revenue of ₹5.87 crore and EBIT of ₹1.84 crore, compared with ₹4.59 crore and ₹1.05 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Sugar | 1,578 | +19.8% | 140.75 | 8.9% |
| Distillery | 324.59 | −19.9% | 39.13 | 12.1% |
| Polylactic Acid(PLA) | 16.85 | +194.2% | −5.58 | -33.1% |
| Others | 5.87 | +27.8% | 1.84 | 31.4% |
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 the quarter and half year ended 30 September 2026, following review by the audit committee. The statutory auditors issued limited review reports.
The board declared an interim dividend of 400%, or ₹4.00 per fully paid equity share of ₹1 each, for FY27. The record date was fixed as 11 November 2026, and payment was scheduled from 26 November 2026.
The board also approved the reconstitution of its committees with effect from 4 November 2026. The filing did not announce a fresh fundraising or management appointment.
What did Balrampur Chini Mills' management say?
Management said higher sugar volume and realisation increased segment PBIT by 166% to ₹140.75 crore in Q2 FY27. It said firm domestic prices supported realisation and helped offset cost pressures arising from the West Asia crisis.
Management said the 80,000 TPA PLA plant was largely on track for commercial operations in Q4 FY27, with commissioning targeted for H2 FY27. The presentation placed gross capex at ~ Rs. 3080 crores and proposed funding of ₹1650 crores of debt and ₹1430 crores from equity or internal accruals.
Management said the distillery margin was compressed because ethanol procurement prices were not revised despite higher sugarcane and operating costs. It also said Uttar Pradesh had not announced the current season’s sugarcane SAP, to which industry profitability and cash flows remain closely linked.
Management identified deficient monsoons and drought-like conditions in Maharashtra and Karnataka as risks to production prospects, with an overall sugar production decline expected in 2026-27. It also cited government measures allowing duty-free imports of 1 MMT of raw sugar and reducing sugar diversion for ethanol to zero for ESY 2026-27.
Management said the PLA business remained pre-commercial and recorded a segment PBIT loss of Rs. 5.58 crores in Q2FY27 and Rs. 15.43 crores in H1FY27. The presentation also referred to ethanol policy changes and construction progress for the PLA project as key topics for investors.
How did Balrampur Chini Mills shares react?
The stock was up 0.7% after five minutes, 1.8% after 15 minutes and 1.2% after 30 minutes from the price when the filing appeared. It closed 2.9% higher on the reaction day from the previous close of ₹655.1, reaching ₹664.1.
The median move for the Sugar sector’s other stocks on the reaction day was 3.1%, leaving Balrampur Chini Mills 0.2 percentage points behind the industry median. Data for the next day and five sessions was not available.
Earlier reaction-day moves were 1.2% on 10 February 2026, 0.4% on 15 May 2026, 0.9% on 12 August 2025, and 1.5% lower on 11 November 2025. Earlier moves included 0.7% lower on 15 May 2025, 3.2% lower on 7 February 2025, 0.1% lower on 11 November 2024 and 0.8% higher on 12 August 2024.
| After the filing | Stock | Sugar median |
|---|---|---|
| 5 minutes | +0.7% | |
| 15 minutes | +1.8% | |
| 30 minutes | +1.2% | |
| Reaction day | +2.9% | +3.1% |
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 |
|---|---|
| 15 May 2026 | +0.4% |
| 10 February 2026 | +1.2% |
| 11 November 2025 | −1.5% |
| 12 August 2025 | +0.9% |
| 15 May 2025 | −0.7% |
| 7 February 2025 | −3.2% |
| 11 November 2024 | −0.1% |
| 12 August 2024 | +0.8% |
Source: MarketPing price-reaction measurement.
How did other Sugar companies do?
Six other Sugar companies filed for the quarter, and their median revenue growth was 3.0%, compared with 12.3% revenue growth at Balrampur Chini Mills. Four peers grew more slowly than the company and two grew faster.
Seven peers were compared for profit, and seven reported higher profit. The peer figures were available as of 4 November 2026.
| Balrampur Chini Mills revenue growth (YoY) | +12.3% |
|---|---|
| Median of 6 other Sugar companies | +3.0% |
| Companies with slower revenue growth than Balrampur Chini Mills | 4 of 6 |
| Companies with faster revenue growth than Balrampur Chini Mills | 2 of 6 |
| Companies whose net profit rose | 7 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Balrampur Chini Mills' revenue in Q2 FY27?
Revenue from operations was ₹1,876 crore, up 12.3% from ₹1,671 crore in Q2 FY26 (consolidated).
Did Balrampur Chini Mills make a profit in Q2 FY27?
Yes. Net profit was ₹102.29 crore, against a net profit of ₹53.89 crore in Q2 FY26.
What was Balrampur Chini Mills' EPS in Q2 FY27?
Basic earnings per share were ₹4.84, against ₹2.67 in Q2 FY26.
How did Balrampur Chini Mills shares react to the Q2 FY27 results?
On the reaction day the stock moved +2.9% from the previous close; the median Sugar stock moved +3.1%.
When did Balrampur Chini Mills announce its Q2 FY27 results?
On 4 November 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of Unaudited Financial Results (Standalone And Consolidated) For The Quarter And Half Year Ended 30Th September, 2026 And Interim Dividend For 2026-27. (BSE, 28 October 2026) · PDF
- Outcome of Board Meeting (NSE, 4 November 2026) · PDF
- The investor presentation (4 November 2026)
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.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.