Dalmia Bharat Sugar and Industries Q2 FY27 results: net profit ₹68.40 crore

How did Dalmia Bharat Sugar and Industries perform in Q2 FY27?

Dalmia Bharat Sugar and Industries reported consolidated revenue of ₹1,061 crore for Q2 FY27, the July–September 2026 quarter, with other income of ₹29.55 crore and total expenses of ₹997.84 crore. EBITDA was ₹113.70 crore at a margin of 10.7%, profit before tax was ₹92.52 crore, and net profit was ₹68.40 crore. There was no exceptional item. Basic EPS for the quarter was ₹8.45.

Against Q1 FY27, revenue rose 25.1% from ₹848.19 crore, EBITDA rose 162.6% from ₹43.29 crore, and net profit rose 889.9% from ₹6.91 crore. The EBITDA margin widened by 5.6 percentage points, from 5.1% to 10.7%. The company also reported standalone revenue of ₹1,060.81 crore and profit of ₹70.61 crore for the quarter, with standalone revenue up 7.3% and profit before tax of ₹23.32 crore.

For the first half of FY27, revenue was ₹1,909.00 crore and total income was ₹1,966.07 crore. Profit before tax was ₹102.35 crore, net profit was ₹75.31 crore and EPS was ₹9.3. On the standalone basis for the half year, revenue was ₹1,909.00 crore, other income was ₹57.07 crore and total income was ₹1,966.07 crore.

What do the balance sheet and cash flow show?

At 30 September 2026, total assets stood at ₹4,313.07 crore against ₹5,521.01 crore at 31 March 2026, and total equity was ₹3,319.03 crore against ₹3,234.99 crore. Borrowings fell to ₹551.48 crore from ₹1,790.66 crore, and cash fell to ₹94.65 crore from ₹327.57 crore. Inventories were ₹429.93 crore compared with ₹1,692.92 crore, while trade receivables were ₹111.24 crore against ₹180.3 crore and trade payables were ₹73.16 crore against ₹154.82 crore.

For the first half of FY27, operating cash flow was ₹1,416.42 crore, investing cash flow was negative ₹425.14 crore and financing cash flow was negative ₹1,224.2 crore. Capital expenditure was ₹142.92 crore. No comparable year-ago cash flow figures were provided for the same period, so a like-for-like comparison is not available from the filings.

How has Dalmia Bharat Sugar and Industries done over the last 8 quarters?

Revenue moved through the reported quarters unevenly, reaching ₹990.73 crore in Q4 FY26 and ₹1,060.81 crore in Q2 FY27, the highest figure in the series shown, while the low was ₹697.75 crore in Q3 FY26. Profit followed a similar pattern, bottoming at ₹6.91 crore in Q1 FY27 and rising to ₹68.40 crore in Q2 FY27, with the peak at ₹103.52 crore in Q4 FY26.

The EBITDA margin reached its high of 17.2% in Q4 FY26, fell to 5.1% in Q1 FY27 and recovered to 10.7% in Q2 FY27. The margin's low in the series shown was 7.1% in Q2 FY25. Revenue and profit both moved higher in the latest quarter, but the margin remained below its Q4 FY26 level.

Which businesses drove the quarter?

Sugar was the largest reported segment in Q2 FY27, with revenue of ₹769.0 crore and EBIT of ₹77.85 crore, an EBIT margin of 10.1%. Distillery reported revenue of ₹327.25 crore and EBIT of ₹28.37 crore, an EBIT margin of 8.7%. The Others segment reported revenue of ₹3.34 crore and EBIT of ₹1.87 crore.

The filings did not provide year-ago quarter revenue or EBIT figures for these segments, so growth against the September 2025 quarter cannot be stated from the available data. The board filing approved the results on a standalone and consolidated basis, and the limited review report attached covers the standalone unaudited results for the quarter and half year ended 30 September 2026.

What else did the company announce?

Alongside the results, the board approved a scheme of arrangement under which the Hippostores Technology Private Limited undertaking would be demerged and vested in Dalmia Bharat Sugar on a going concern basis, with fully paid-up redeemable preference shares issued to eligible shareholders of Hippostores in accordance with the share-entitlement ratio in the scheme. The appointed date is the opening of business hours on 1 January 2027, or such other date approved by the National Company Law Tribunal.

The scheme remains subject to exchange observation or no-objection letters under the SEBI review process, shareholder and creditor approvals, sanction by the National Company Law Tribunal and other statutory approvals. The board also approved an investment of up to USD 22.70 Million in Dalmia Bharat Global Holdings Limited, a wholly owned subsidiary in the United Arab Emirates, to hold the company's present and future investments by way of equity or other instruments. No dividend was declared in the filings reviewed.

How did Dalmia Bharat Sugar and Industries shares react?

The filing appeared after market hours on 3 November 2026, and the shares moved higher from the price at which the filing appeared: up 5.0% after 5 minutes, 7.4% after 15 minutes and 11.1% after 30 minutes. From the previous close of ₹418.15, the reaction-day close was 15.7% higher, and by the next day's close the stock was up 14.1% from that pre-results close.

How did other Sugar companies do?

Nine other Sugar companies were compared for this quarter, with a median revenue growth of 11.0%. Dalmia Bharat Sugar's consolidated revenue growth of 25.1% was higher than that median. Of the peers, five grew revenue slower than the company and four grew faster. The peers file does not provide counts for the split, so the number that grew slower and the number that grew faster cannot be stated from the available data.

Of the peers compared for profit, 10 out of 11 reported higher profit, while Dalmia Bharat Sugar reported a net profit of ₹68.40 crore. The peer figures are as of 6 November 2026.