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Borosil Scientific Q2 FY27 results: net profit up 86.3% to ₹5.31 crore, revenue up 7.5%
Borosil Scientific Limited reported consolidated revenue of ₹114.96 crore in Q2 FY27, up 7.5% from the year-ago quarter, with EBITDA of ₹10.70 crore and a net profit of ₹5.31 crore. Basic EPS was ₹0.60, against ₹0.32 in Q2 FY26 and ₹0.49 in Q1 FY27, while the EBITDA margin rose to 9.3% from 7.5% a year earlier.
Key points
- Consolidated revenue rose 7.5% year on year to ₹114.96 crore in Q2 FY27 and was up 7.7% from Q1 FY27 at ₹106.75 crore.
- EBITDA was ₹10.70 crore in Q2 FY27, up 33.3% from ₹8.03 crore in Q2 FY26, with the margin at 9.3% against 7.5%.
- Net profit was ₹5.31 crore, up 86.3% from ₹2.85 crore a year earlier, and basic EPS was ₹0.60 against ₹0.32.
- For H1 FY27, revenue rose 9.3% to ₹221.72 crore and the company moved from a net loss of ₹1.36 crore in H1 FY26 to a net profit of ₹9.66 crore.
- The stock fell 5.6% on the reaction day and was down 7.4% from its pre-results close by the next day's close.
How did Borosil Scientific perform in Q2 FY27?
Borosil Scientific reported consolidated revenue of ₹114.96 crore for Q2 FY27, the July–September 2026 quarter, up 7.5% from ₹106.90 crore in Q2 FY26 and 7.7% from ₹106.75 crore in Q1 FY27. Total income was ₹117.37 crore, against ₹109.05 crore a year earlier and ₹109.42 crore in the previous quarter.
EBITDA for the quarter was ₹10.70 crore, up 33.3% from ₹8.03 crore in Q2 FY26 and 26.5% from ₹8.46 crore in Q1 FY27. The EBITDA margin rose to 9.3% from 7.5% a year earlier and 7.9% in the previous quarter. Profit before tax was ₹7.67 crore, against ₹5.13 crore and ₹5.98 crore respectively.
Net profit was ₹5.31 crore, up 86.3% from ₹2.85 crore in Q2 FY26 and 21.8% from ₹4.36 crore in Q1 FY27. Basic EPS was ₹0.60, compared with ₹0.32 a year earlier and ₹0.49 in the previous quarter. On the standalone basis, revenue was ₹104.19 crore, up 4.7%, and profit was ₹6.25 crore against ₹7.52 crore in the year-ago quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 114.96 | 106.75 | 106.90 | +7.5% | +7.7% |
| Other income | 2.41 | 2.67 | 2.15 | +12.1% | −9.7% |
| Total expenses | 109.70 | 103.44 | 103.91 | +5.6% | +6.1% |
| EBITDA | 10.70 | 8.46 | 8.03 | +33.3% | +26.5% |
| EBITDA margin | 9.3% | 7.9% | 7.5% | +1.8 pp | +1.4 pp |
| Profit before tax | 7.67 | 5.98 | 5.13 | +49.5% | +28.3% |
| Tax | 2.36 | 1.63 | 2.29 | +3.1% | +44.8% |
| Net profit | 5.31 | 4.36 | 2.85 | +86.3% | +21.8% |
| EPS (₹) | 0.60 | 0.49 | 0.32 | +87.5% | +22.4% |
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 Borosil Scientific's costs and profit?
Total expenses rose 5.6% year on year to ₹109.70 crore in Q2 FY27, against revenue growth of 7.5%, and were up 6.1% from ₹103.44 crore in Q1 FY27. Cost of materials was the largest increase at ₹43.24 crore, up ₹4.02 crore or 10.2% from ₹39.22 crore, while other expenses rose ₹3.35 crore or 8.5% to ₹42.92 crore.
Employee cost rose ₹1.25 crore or 6.1% to ₹21.89 crore and depreciation rose ₹0.41 crore or 8.5% to ₹5.22 crore. Finance costs fell ₹0.01 crore or 4.3% to ₹0.22 crore. Against Q1 FY27, employee cost was lower by ₹0.09 crore and other expenses were lower by ₹0.08 crore, while cost of materials rose ₹2.23 crore.
Other income was ₹2.41 crore, up ₹0.26 crore or 12.1% from ₹2.15 crore in the year-ago quarter and down ₹0.26 crore or 9.7% from ₹2.67 crore in the previous quarter. There was no exceptional item in Q2 FY27 or either comparison period. Tax expense was ₹2.36 crore, up ₹0.07 crore from a year earlier and ₹0.73 crore from Q1 FY27.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 43.24 | 39.22 | +4.02 | +10.2% |
| Employee cost | 21.89 | 20.64 | +1.25 | +6.1% |
| Finance costs | 0.22 | 0.23 | −0.01 | −4.3% |
| Depreciation | 5.22 | 4.81 | +0.41 | +8.5% |
| Other expenses | 42.92 | 39.57 | +3.35 | +8.5% |
| Total expenses | 109.70 | 103.91 | +5.79 | +5.6% |
| Other income | 2.41 | 2.15 | +0.26 | +12.1% |
| Tax | 2.36 | 2.29 | +0.07 | +3.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, Borosil Scientific reported consolidated revenue of ₹221.72 crore, up 9.3% from ₹202.88 crore in H1 FY26. Total income rose 9.1% to ₹226.79 crore from ₹207.94 crore, an increase of ₹18.85 crore.
Profit before tax reached ₹13.65 crore, up ₹12.60 crore from ₹1.05 crore in H1 FY26. The company moved from a net loss of ₹1.36 crore to a net profit of ₹9.66 crore, a difference of ₹11.02 crore. Basic EPS for the half year was ₹1.09 against ₹0.14 negative in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 221.72 | 202.88 | +9.3% |
| Profit before tax | 13.65 | 1.05 | +1200.0% |
| Net profit | 9.66 | −1.36 | turned to profit |
| EPS (₹) | 1.09 | −0.14 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹552.61 crore as on 30 September 2026, against ₹549.08 crore as on 31 March 2026. Total equity was ₹451.79 crore compared with ₹441.49 crore, while borrowings fell to ₹5.20 crore from ₹8.06 crore and cash was lower at ₹11.12 crore against ₹13.18 crore.
Inventories rose to ₹121.27 crore from ₹103.25 crore at the previous balance sheet date. Trade receivables fell to ₹49.40 crore from ₹75.73 crore, and trade payables were lower at ₹31.22 crore against ₹42.49 crore.
For H1 FY27, net cash from operating activities was ₹17.30 crore, against ₹7.75 crore in H1 FY26. Cash used in investing activities rose to ₹16.18 crore from ₹8.48 crore and cash used in financing was ₹3.18 crore against ₹4.65 crore. Capital expenditure was ₹20.29 crore in H1 FY27, up from ₹10.08 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 552.61 | 549.08 |
| Total equity | 451.79 | 441.49 |
| Borrowings | 5.20 | 8.06 |
| Cash and equivalents | 11.12 | 13.18 |
| Inventories | 121.27 | 103.25 |
| Trade receivables | 49.40 | 75.73 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 17.30 | 7.75 |
| Cash from investing | −16.18 | −8.48 |
| Cash from financing | −3.18 | −4.65 |
| Capital expenditure | 20.29 | 10.08 |
Source: Company's results filing (XBRL).
How has Borosil Scientific done over the last 8 quarters?
Revenue has risen year on year in each of the last five quarters. Over the reported period, revenue moved from ₹95.98 crore in Q1 FY26 to a low of ₹106.75 crore in Q1 FY27 before reaching ₹114.96 crore in Q2 FY27, still below the ₹143.17 crore recorded in Q4 FY26.
Profit followed a similar pattern, with net profit at ₹4.36 crore in Q1 FY27 and ₹5.31 crore in Q2 FY27, against a peak of ₹27.25 crore in Q4 FY26 and a low of ₹4.21 crore in Q1 FY26. The EBITDA margin was 9.3% in Q2 FY27, up from 7.9% in the previous quarter and below the 22.4% recorded in Q4 FY26.
Which businesses drove the quarter?
Scientific – Laboratory Glass & equipment and Process System reported revenue of ₹79.05 crore in Q2 FY27, with EBIT of ₹13.27 crore and an EBIT margin of 16.8%.
Primary Pharma Packaging reported revenue of ₹20.96 crore and an EBIT loss of ₹2.60 crore, with a negative EBIT margin of 12.4%. Consumer Glassware reported revenue of ₹14.96 crore, EBIT of ₹0.78 crore and an EBIT margin of 5.2%.
Prior-period segment revenue and EBIT figures were not given for comparison. Management said Process Systems and Primary Pharma Packaging led segment growth, and that consolidated growth was supported by Goel Scientific even as standalone margin was under pressure.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| a. Scientific – Laboratory Glass & equipment and Process System | 79.05 | 13.27 | 16.8% | |
| b. Primary Pharma Packaging | 20.96 | −2.60 | -12.4% | |
| c. Consumer Glassware | 14.96 | 0.78 | 5.2% |
Source: Company's results filing (XBRL segment data).
What did Borosil Scientific's management say?
Management said it aims to achieve revenue CAGR of 12-14% as a medium-term goal and to improve EBITDA margins. It also said standalone profitability is expected to improve as the situation stabilises, referring to higher input costs arising from geopolitical tensions in the Middle East.
Management set out plans to raise glassware manufacturing capacity from ~15 lakh units p.a. to ~108 lakh units p.a., with estimated capex of ₹60 Cr and commercial production expected in March 2027. The stated rationale includes higher demand from Borosil Limited, expected laboratory-glassware expansion and improved ROCE.
The board approved a proposal for a borosilicate 3.3 glass tubing furnace at the Bharuch plant, with proposed installed capacity of ~20 MT/day, capital expenditure of up to ₹70 Cr and commercial production expected by 31 March 2028. The company said the project is intended to establish backward integration, reduce dependence on imported tubing and improve supply-chain reliability, with output primarily for captive use.
Management flagged risks around Middle East-related input costs, standalone margin compression and Consumer Glassware, where revenue declined 10.2% year on year in Q2 FY27 and 3.5% in H1 FY27. It also noted that Goel Scientific remained loss before tax at ₹1.1 crore in Q2 FY27, though the loss narrowed from ₹4.8 crore.
How did Borosil Scientific shares react?
The filing appeared after market hours. From the price when the filing appeared, the stock fell 2.6% after five minutes, 3.3% after 15 minutes and 4.1% after 30 minutes. On the reaction day it closed 5.6% below the previous close of ₹109.95, and by the next day's close it was down 7.4% from that pre-results close.
Earlier results-day moves were mixed: the stock fell 3.3% on 3 August 2026 and rose 19.8% on 20 May 2026, 11.2% on 11 February 2026 and 0.8% on 6 November 2025. It also fell 2.1% on 11 August 2025, 1.8% on 21 May 2025 and 6.8% on 11 February 2025, and rose 0.7% on 12 November 2024.
| After the filing | Stock | Industrial Products median |
|---|---|---|
| 5 minutes | −2.6% | |
| 15 minutes | −3.3% | |
| 30 minutes | −4.1% | |
| Reaction day | −5.6% | +0.3% |
| Next day | −7.4% | −1.1% |
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 |
|---|---|
| 3 August 2026 | −3.3% |
| 20 May 2026 | +19.8% |
| 11 February 2026 | +11.2% |
| 6 November 2025 | +0.8% |
| 11 August 2025 | −2.1% |
| 21 May 2025 | −1.8% |
| 11 February 2025 | −6.8% |
| 12 November 2024 | +0.7% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Borosil Scientific's revenue in Q2 FY27?
Revenue from operations was ₹114.96 crore, up 7.5% from ₹106.90 crore in Q2 FY26 (consolidated).
Did Borosil Scientific make a profit in Q2 FY27?
Yes. Net profit was ₹5.31 crore, against a net profit of ₹2.85 crore in Q2 FY26.
What was Borosil Scientific's EPS in Q2 FY27?
Basic earnings per share were ₹0.60, against ₹0.32 in Q2 FY26.
How did Borosil Scientific shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.6% from the previous close; the median Industrial Products stock moved +0.3%.
When did Borosil Scientific announce its Q2 FY27 results?
On 28 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of The Unaudited Financial Results (Standalone & Consolidated) For The Quarter And Half Year Ended September 30, 2026 (BSE, 21 October 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting Held On October 28, 2026 (BSE, 28 October 2026) · PDF
- Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (BSE, 28 October 2026) · PDF
- Unaudited Financial Results (Standalone & Consolidated) For The Quarter And Half Year Ended September 30, 2026 (BSE, 28 October 2026) · PDF
- The investor presentation (31 October 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.
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