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Diamines & Chemicals Q2 FY27 results: net loss narrows to ₹2.30 crore, revenue up 160.6%
Diamines & Chemicals Limited reported consolidated revenue of ₹24.24 crore in Q2 FY27, up 160.6% from ₹9.30 crore a year earlier, but the company posted a net loss of ₹2.30 crore. EBITDA was a loss of ₹1.37 crore with a margin of -5.6%, compared with a net loss of ₹4.15 crore and an EBITDA margin of -41.8% in Q2 FY26. Against Q1 FY27, revenue rose 68.7% while the net loss widened by ₹2.20 crore.
Key points
- Consolidated revenue was ₹24.24 crore in Q2 FY27, up ₹14.94 crore or 160.6% from ₹9.30 crore in Q2 FY26.
- The company reported a net loss of ₹2.30 crore in Q2 FY27, compared with a net loss of ₹4.15 crore in the year-ago quarter, a narrower loss of ₹1.85 crore.
- EBITDA was a loss of ₹1.37 crore with a margin of -5.6%, against a loss of ₹3.88 crore and a margin of -41.8% in Q2 FY26.
- Basic EPS was -₹2.19 in Q2 FY27, compared with -₹4.24 in Q2 FY26 and -₹0.10 in Q1 FY27.
- Total expenses rose ₹13.30 crore or 93.5% year on year to ₹27.52 crore, with no exceptional item reported.
How did Diamines & Chemicals perform in Q2 FY27?
Diamines & Chemicals reported consolidated revenue of ₹24.24 crore for Q2 FY27, the July–September 2026 quarter, against ₹9.30 crore in Q2 FY26 and ₹14.37 crore in Q1 FY27. Revenue was up ₹14.94 crore or 160.6% from the year-ago quarter and ₹9.87 crore or 68.7% from the previous quarter. Total income was ₹25.34 crore, compared with ₹9.91 crore a year earlier and ₹14.88 crore in the previous quarter.
Consolidated EBITDA was a loss of ₹1.37 crore in Q2 FY27, with an EBITDA margin of -5.6%. A year earlier, EBITDA was a loss of ₹3.88 crore with a margin of -41.8%, so the margin improved by 36.2 percentage points. Against Q1 FY27, when EBITDA was ₹0.39 crore at a margin of 2.7%, EBITDA moved to a loss and the margin fell 8.3 percentage points.
The company reported a net loss of ₹2.30 crore in Q2 FY27, compared with a net loss of ₹4.15 crore in Q2 FY26 and a net loss of ₹0.10 crore in Q1 FY27. Basic EPS was -₹2.19, compared with -₹4.24 in the year-ago quarter and -₹0.10 in the previous quarter. On the standalone basis, revenue was ₹24.21 crore and the net loss was ₹1.42 crore, against a loss before tax of ₹3.70 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 24.24 | 14.37 | 9.30 | +160.6% | +68.7% |
| Other income | 1.10 | 0.51 | 0.61 | +80.3% | +115.7% |
| Total expenses | 27.52 | 14.93 | 14.22 | +93.5% | +84.3% |
| EBITDA | −1.37 | 0.39 | −3.88 | turned to loss | |
| EBITDA margin | -5.6% | 2.7% | -41.8% | +36.2 pp | −8.3 pp |
| Profit before tax | −2.18 | −0.05 | −4.31 | ||
| Tax | 0 | 0 | −0.24 | ||
| Net profit | −2.30 | −0.10 | −4.15 | ||
| EPS (₹) | −2.19 | −0.10 | −4.24 |
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 Diamines & Chemicals' costs and profit?
Total expenses rose ₹13.30 crore or 93.5% year on year to ₹27.52 crore, against revenue that rose ₹14.94 crore or 160.6% to ₹24.24 crore. Cost of materials consumed was ₹11.91 crore, up ₹3.46 crore or 40.9% from ₹8.45 crore, while employee cost rose ₹2.46 crore or 88.8% to ₹5.23 crore. Other expenses rose ₹2.60 crore or 51.2% to ₹7.68 crore, and depreciation rose ₹0.92 crore or 95.8% to ₹1.88 crore.
Finance costs fell ₹0.04 crore or 57.1% to ₹0.03 crore from ₹0.07 crore, and other income rose ₹0.49 crore or 80.3% to ₹1.10 crore from ₹0.61 crore. There was no exceptional item in the quarter. Tax moved by ₹0.24 crore from the year-ago quarter, and no tax was charged in Q2 FY27.
Against Q1 FY27, total expenses rose ₹12.59 crore or 84.3% to ₹27.52 crore. Employee cost was up ₹2.58 crore or 97.4% to ₹5.23 crore, cost of materials consumed was up ₹4.08 crore or 52.1% to ₹11.91 crore, and other expenses were up ₹3.80 crore or 97.9% to ₹7.68 crore. Depreciation rose ₹0.96 crore or 104.3% to ₹1.88 crore, while other income rose ₹0.59 crore or 115.7% to ₹1.10 crore. The filing did not state reasons for these cost movements.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 11.91 | 8.45 | +3.46 | +40.9% |
| Employee cost | 5.23 | 2.77 | +2.46 | +88.8% |
| Finance costs | 0.03 | 0.07 | −0.04 | −57.1% |
| Depreciation | 1.88 | 0.96 | +0.92 | +95.8% |
| Other expenses | 7.68 | 5.08 | +2.60 | +51.2% |
| Total expenses | 27.52 | 14.22 | +13.30 | +93.5% |
| Other income | 1.10 | 0.61 | +0.49 | +80.3% |
| Tax | 0 | −0.24 | +0.24 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹165.87 crore on 30 September 2026, compared with ₹174.44 crore on 31 March 2026. Total equity was ₹156.28 crore against ₹157.50 crore at the previous balance sheet date, while borrowings fell to nil from ₹8.19 crore. Cash and cash equivalents were ₹5.80 crore against ₹0.17 crore, and inventories were lower at ₹22.61 crore from ₹28.36 crore.
Trade receivables declined to ₹4.61 crore from ₹5.47 crore, and trade payables rose to ₹4.16 crore from ₹2.67 crore. For H1 FY27, net cash from operating activities was ₹9.05 crore, compared with net cash used in operating activities of ₹7.12 crore in H1 FY26. Investing cash flow was ₹4.80 crore against -₹10.84 crore, while financing cash flow was -₹8.21 crore against ₹8.73 crore. Capital expenditure was ₹6.16 crore in H1 FY27, compared with ₹12.88 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 165.87 | 174.44 |
| Total equity | 156.28 | 157.50 |
| Borrowings | 0 | 8.19 |
| Cash and equivalents | 5.80 | 0.17 |
| Inventories | 22.61 | 28.36 |
| Trade receivables | 4.61 | 5.47 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 9.05 | −7.12 |
| Cash from investing | 4.80 | −10.84 |
| Cash from financing | −8.21 | 8.73 |
| Capital expenditure | 6.16 | 12.88 |
Source: Company's results filing (XBRL).
How has Diamines & Chemicals done over the last 8 quarters?
Revenue rose in each of the last two quarters, rising from ₹7.64 crore in Q3 FY26 to ₹9.29 crore in Q4 FY26, ₹14.37 crore in Q1 FY27 and ₹24.24 crore in Q2 FY27. The lowest quarterly revenue in that stretch was ₹7.64 crore in Q3 FY26, and the latest quarter was the highest of the period shown.
Net profit moved from a loss of ₹3.40 crore in Q3 FY26 to a loss of ₹2.41 crore in Q4 FY26 and a loss of ₹0.10 crore in Q1 FY27, before widening to a loss of ₹2.30 crore in Q2 FY27. The EBITDA margin followed a similar shape, moving from -37.3% in Q3 FY26 to -33.5% in Q4 FY26 and 2.7% in Q1 FY27, before falling to -5.6% in the latest quarter. The lowest margin in the series was -41.8% in Q2 FY26.
How did Diamines & Chemicals shares react?
The filing appeared during market hours on 28 October 2026, with the stock down 1.1% after 5 minutes, 0.9% after 15 minutes and 0.9% after 30 minutes from the price at which the results appeared. On the reaction day, the stock closed 3.6% below its previous close, and by the next day's close it was 3.7% below that pre-results close. By the fifth session, the cumulative decline was 5.1%.
Past results-day reactions were mixed but mostly negative. The stock rose 8.1% on 5 August 2026, then fell 9.5% on 18 May 2026, 3.1% on 12 February 2026 and 6.1% on 5 November 2025. Earlier moves included falls of 3.1% on 12 August 2025, 2.2% on 29 May 2025, 4.4% on 6 February 2025 and 1.2% on 24 October 2024.
| After the filing | Stock | Specialty Chemicals median |
|---|---|---|
| 5 minutes | −1.1% | |
| 15 minutes | −0.9% | |
| 30 minutes | −0.9% | |
| Reaction day | −3.6% | +0.4% |
| Next day | −3.7% | +0.4% |
| 5 days | −5.1% | +1.0% |
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 |
|---|---|
| 5 August 2026 | +8.1% |
| 18 May 2026 | −9.5% |
| 12 February 2026 | −3.1% |
| 5 November 2025 | −6.1% |
| 12 August 2025 | −3.1% |
| 29 May 2025 | −2.2% |
| 6 February 2025 | −4.4% |
| 24 October 2024 | −1.2% |
Source: MarketPing price-reaction measurement.
How did other Specialty Chemicals companies do?
Fifty Specialty Chemicals companies were compared for the quarter. Their median revenue growth was 27.8%, while Diamines & Chemicals reported revenue growth of 160.6% from a base of ₹9.30 crore to ₹24.24 crore. Of the peers, 47 grew more slowly than the company and 3 grew faster.
Of the 46 peers for which profit was compared, 40 reported higher profit. Diamines & Chemicals reported a net loss of ₹2.30 crore for Q2 FY27. The peer comparison was as of 4 November 2026.
| Diamines & Chemicals revenue growth (YoY) | +160.6% |
|---|---|
| Median of 50 other Specialty Chemicals companies | +27.8% |
| Companies with slower revenue growth than Diamines & Chemicals | 47 of 50 |
| Companies with faster revenue growth than Diamines & Chemicals | 3 of 50 |
| Companies whose net profit rose | 40 of 46 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Diamines & Chemicals' revenue in Q2 FY27?
Revenue from operations was ₹24.24 crore, up 160.6% from ₹9.30 crore in Q2 FY26 (consolidated).
Did Diamines & Chemicals make a profit in Q2 FY27?
No. It reported a net loss of ₹2.30 crore, against a net loss of ₹4.15 crore in Q2 FY26.
What was Diamines & Chemicals' EPS in Q2 FY27?
Basic loss per share was ₹2.19, against a loss of ₹4.24 in Q2 FY26.
How did Diamines & Chemicals shares react to the Q2 FY27 results?
On the reaction day the stock moved −3.6% from the previous close; the median Specialty Chemicals stock moved +0.4%.
When did Diamines & Chemicals announce its Q2 FY27 results?
On 28 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of The Un-Audited Financial Results (Standalone & Consolidated) For The Quarter And Half Year Ended September 30, 2026 (BSE, 17 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 28 October 2026) · PDF
- Unaudited Financial Results For The Quarter And Half Year Ended On September 30, 2026 (BSE, 28 October 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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