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Bengal Steel Industries Q2 FY27 results: net profit down 28.6% to ₹0.05 crore, revenue flat
Bengal Steel Industries Ltd reported consolidated revenue of ₹0.15 crore in Q2 FY27, with EBITDA of ₹0.07 crore and a net profit of ₹0.05 crore. Revenue was unchanged from Q2 FY26 and Q1 FY27, while profit and EPS were lower than the year-ago quarter but higher than the previous quarter.
Key points
- Consolidated revenue was ₹0.15 crore in Q2 FY27, unchanged from Q2 FY26 and Q1 FY27.
- EBITDA was ₹0.07 crore, with an EBITDA margin of 46.7% in Q2 FY27.
- Net profit was ₹0.05 crore and basic EPS was ₹0.11 in Q2 FY27.
- Against Q2 FY26, net profit fell 28.6% and EPS fell 21.4%.
- In H1 FY27, revenue was ₹0.3 crore, while PAT was ₹0.1 crore and EPS was 0.2.
How did Bengal Steel Industries perform in Q2 FY27?
Bengal Steel Industries reported consolidated revenue of ₹0.15 crore in Q2 FY27, unchanged from Q2 FY26 and Q1 FY27. EBITDA was ₹0.07 crore at a 46.7% margin, while profit before tax was ₹0.07 crore, net profit was ₹0.05 crore and basic EPS was ₹0.11.
Compared with Q2 FY26, EBITDA and profit before tax each fell 12.5%, net profit fell 28.6% and EPS fell 21.4%. The EBITDA margin was lower by 7.4 percentage points and the PAT margin was lower by 7.9 percentage points. Against Q1 FY27, EBITDA and profit before tax each rose 40.0%, net profit rose 25.0% and EPS rose 22.2%.
On a standalone basis, revenue was ₹0.15 crore and PAT was ₹0.07 crore, compared with ₹0.15 crore and ₹0.06 crore in the consolidated results. The company’s filing states that the standalone and consolidated unaudited financial results were approved by the board on 3 November 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0.15 | 0.15 | 0.15 | +0.0% | +0.0% |
| Other income | 0 | 0 | 0 | ||
| Total expenses | 0.08 | 0.10 | 0.07 | +14.3% | −20.0% |
| EBITDA | 0.07 | 0.05 | 0.08 | −12.5% | +40.0% |
| EBITDA margin | 46.7% | 35.3% | 54.1% | −7.4 pp | +11.4 pp |
| Profit before tax | 0.07 | 0.05 | 0.08 | −12.5% | +40.0% |
| Tax | 0.01 | 0.01 | 0.01 | +0.0% | +0.0% |
| Net profit | 0.05 | 0.04 | 0.07 | −28.6% | +25.0% |
| EPS (₹) | 0.11 | 0.09 | 0.14 | −21.4% | +22.2% |
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 Bengal Steel Industries' costs and profit?
Total expenses increased 14.3% from ₹0.07 crore in Q2 FY26 to ₹0.08 crore in Q2 FY27. Other expenses were the main change, rising 25.0% from ₹0.04 crore to ₹0.05 crore, while employee cost was unchanged at ₹0.03 crore. Cost of materials, finance costs and depreciation were unchanged.
Other income was unchanged at ₹0 crore and there was no exceptional item in either quarter. Tax expense was unchanged at ₹0.01 crore. These figures show the movement in reported profit; the filing does not state a reason for the increase in other expenses.
Against Q1 FY27, total expenses fell 20.0% from ₹0.10 crore to ₹0.08 crore as other expenses declined 28.6% from ₹0.07 crore to ₹0.05 crore. Employee cost was unchanged at ₹0.03 crore, other income was unchanged at ₹0 crore, tax was unchanged at ₹0.01 crore and there was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.03 | 0.03 | 0 | +0.0% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.05 | 0.04 | +0.01 | +25.0% |
| Total expenses | 0.08 | 0.07 | +0.01 | +14.3% |
| Other income | 0 | 0 | 0 | |
| Tax | 0.01 | 0.01 | 0 | +0.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue and total income were ₹0.3 crore, unchanged from H1 FY26. Profit before tax was ₹0.12 crore, down 14.3% from ₹0.14 crore, while PAT was ₹0.1 crore, down 16.7% from ₹0.12 crore.
H1 FY27 EPS was 0.2, compared with 0.25 in H1 FY26, a decline of 20.0%. The filing covered both the quarter and half year ended 30 September 2026 and stated that the results had received a limited review from the statutory auditors.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0.30 | 0.30 | +0.0% |
| Profit before tax | 0.12 | 0.14 | −14.3% |
| Net profit | 0.10 | 0.12 | −16.7% |
| EPS (₹) | 0.20 | 0.25 | −20.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹11.34 crore, compared with ₹11.24 crore at 31 March 2026. Total equity was ₹10.49 crore, compared with ₹10.39 crore, while borrowings were unchanged at ₹0 crore. Cash fell from ₹1.44 crore to ₹1.12 crore; inventories, trade receivables and trade payables were unchanged at ₹0.16 crore, ₹0.05 crore and ₹0.02 crore, respectively.
Operating cash flow for H1 FY27 was negative ₹0.32 crore, compared with positive ₹0.11 crore in H1 FY26. Investing and financing cash flows were ₹0 crore in both periods. The standalone filing showed net cash used in operating activities of ₹31.97 lakh, compared with net cash from operations of ₹10.57 lakh a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 11.34 | 11.24 |
| Total equity | 10.49 | 10.39 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 1.12 | 1.44 |
| Inventories | 0.16 | 0.16 |
| Trade receivables | 0.05 | 0.05 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −0.32 | 0.11 |
| Cash from investing | 0 | 0 |
| Cash from financing | 0 | 0 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Bengal Steel Industries done over the last 8 quarters?
Revenue remained ₹0.15 crore in each of the eight quarters from Q3 FY25 to Q2 FY27. PAT reached its highest level at ₹0.14 crore in Q4 FY26 and its lowest at ₹0.04 crore in Q1 FY27, before rising to ₹0.05 crore in Q2 FY27.
EBITDA margin peaked at 62.5% in Q3 FY26 and bottomed at 35.3% in Q1 FY27. It then rose to 46.7% in Q2 FY27, indicating a recovery from the previous quarter but remaining below the year-ago margin of 54.1%.
How did other Iron & Steel Products companies do?
Among 25 Iron & Steel Products companies that filed for the quarter, the median revenue growth was 23.9%. Three peers grew slower than Bengal Steel Industries and 22 grew faster than the company.
Profit increased for 20 of the 30 peers for which profit was compared, based on results filed as of 4 November 2026.
| Bengal Steel Industries revenue growth (YoY) | +0.0% |
|---|---|
| Median of 25 other Iron & Steel Products companies | +23.9% |
| Companies with slower revenue growth than Bengal Steel Industries | 3 of 25 |
| Companies with faster revenue growth than Bengal Steel Industries | 22 of 25 |
| Companies whose net profit rose | 20 of 30 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Bengal Steel Industries' revenue in Q2 FY27?
Revenue from operations was ₹0.15 crore, down 0.0% from ₹0.15 crore in Q2 FY26 (consolidated).
Did Bengal Steel Industries make a profit in Q2 FY27?
Yes. Net profit was ₹0.05 crore, against a net profit of ₹0.07 crore in Q2 FY26.
What was Bengal Steel Industries' EPS in Q2 FY27?
Basic earnings per share were ₹0.11, against ₹0.14 in Q2 FY26.
When did Bengal Steel Industries announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Standalone And Consolidated Unaudited Financial Results - 30Th September, 2026 (BSE, 28 October 2026) · PDF
- Standalone And Consolidated Unaudited Financial Results - 30Th September, 2026 (BSE, 3 November 2026) · PDF
- Standalone And Consolidated Unaudited Financial Results - 30Th September, 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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