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Gujarat Fluorochemicals Q2 FY27 results: net profit up 34.1% to ₹240 crore, revenue up 45.5%
Gujarat Fluorochemicals Limited reported Q2 FY27 consolidated revenue of ₹1,760 crore, up 45.5% from ₹1,210 crore a year earlier, with net profit of ₹240 crore against ₹179 crore. EBITDA rose to ₹473 crore while the margin narrowed to 26.9% from 30.1%, and basic EPS was ₹22.11 against ₹16.31.
Key points
- Consolidated revenue rose 45.5% year on year to ₹1,760 crore and was ₹172 crore higher than Q1 FY27.
- EBITDA was ₹473 crore, up 29.9% from ₹364 crore, but the margin fell 3.2 percentage points to 26.9%.
- Net profit was ₹240 crore against ₹179 crore, and basic EPS was ₹22.11 against ₹16.31.
- There was no exceptional item, and total expenses rose 47.5% to ₹1,431 crore.
- On a standalone basis, revenue was ₹1,700 crore and net profit was ₹309 crore.
How did Gujarat Fluorochemicals perform in Q2 FY27?
Consolidated revenue for the July–September 2026 quarter was ₹1,760 crore, up 45.5% from ₹1,210 crore in Q2 FY26 and ₹172 crore above Q1 FY27. EBITDA was ₹473 crore against ₹364 crore a year earlier and ₹428 crore in the previous quarter, while the margin eased to 26.9% from 30.1% and from 27.0%.
Net profit was ₹240 crore compared with ₹179 crore in the year-ago quarter and ₹219 crore in Q1 FY27; profit attributable to owners was ₹243 crore against ₹179 crore. Basic EPS was ₹22.11, up from ₹16.31 a year earlier and ₹20.17 in Q1 FY27. On a standalone basis, revenue was ₹1,700 crore and net profit was ₹309 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,760 | 1,588 | 1,210 | +45.5% | +10.8% |
| Other income | 10 | 12 | 6 | +66.7% | −16.7% |
| Total expenses | 1,431 | 1,288 | 970 | +47.5% | +11.1% |
| EBITDA | 473 | 428 | 364 | +29.9% | +10.5% |
| EBITDA margin | 26.9% | 27.0% | 30.1% | −3.2 pp | −0.1 pp |
| Profit before tax | 339 | 312 | 246 | +37.8% | +8.7% |
| Tax | 99 | 91 | 67 | +47.8% | +8.8% |
| Net profit | 240 | 219 | 179 | +34.1% | +9.6% |
| EPS (₹) | 22.11 | 20.17 | 16.31 | +35.6% | +9.6% |
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 Gujarat Fluorochemicals' costs and profit?
Total expenses rose to ₹1,431 crore from ₹970 crore in Q2 FY26, an increase of ₹461 crore. Cost of materials consumed was ₹681 crore against ₹440 crore, up ₹241 crore, while other expenses were ₹509 crore against ₹378 crore, up ₹131 crore. Employee benefit expense rose by ₹30 crore to ₹158 crore, finance costs by ₹7 crore to ₹40 crore, and depreciation by ₹13 crore to ₹104 crore.
Other income was ₹10 crore against ₹6 crore in the year-ago quarter, a rise of ₹4 crore. There was no exceptional item. Profit before tax was ₹339 crore against ₹246 crore, and tax expense was ₹99 crore against ₹67 crore, up ₹32 crore. The company did not state a reason for the rise in the cost of materials in the filing excerpts.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 681 | 440 | +241 | +54.8% |
| Employee cost | 158 | 128 | +30 | +23.4% |
| Finance costs | 40 | 33 | +7 | +21.2% |
| Depreciation | 104 | 91 | +13 | +14.3% |
| Other expenses | 509 | 378 | +131 | +34.7% |
| Total expenses | 1,431 | 970 | +461 | +47.5% |
| Other income | 10 | 6 | +4 | +66.7% |
| Tax | 99 | 67 | +32 | +47.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹3,348 crore, up 34.4% from ₹2,491 crore in H1 FY26. Total income was ₹3,370 crore against ₹2,520 crore, and profit before tax was ₹651 crore compared with ₹493 crore.
Net profit for the first half was ₹459 crore against ₹363 crore, and basic EPS was ₹42.28 against ₹33.06. The standalone results for the six months ended 30 September 2026 showed revenue of ₹3,002 crore and profit for the period of ₹510 crore.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3,348 | 2,491 | +34.4% |
| Profit before tax | 651 | 493 | +32.0% |
| Net profit | 459 | 363 | +26.4% |
| EPS (₹) | 42.28 | 33.06 | +27.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets on the consolidated balance sheet rose to ₹12,841 crore at 30 September 2026 from ₹11,883 crore at 31 March 2026. Total equity was ₹8,452 crore against ₹7,913 crore, while borrowings were ₹2,234 crore compared with ₹2,199 crore and cash was ₹299 crore against ₹215 crore. Inventories were ₹1,988 crore against ₹1,933 crore, trade receivables ₹1,511 crore against ₹1,282 crore, and trade payables ₹726 crore against ₹552 crore.
Net cash from operating activities in H1 FY27 was ₹738 crore against ₹625 crore in H1 FY26. Investing cash flow was negative ₹742 crore against negative ₹172 crore, and financing cash flow was ₹88 crore against negative ₹459 crore. Capital expenditure was ₹841 crore in H1 FY27 against ₹474 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 12,841 | 11,883 |
| Total equity | 8,452 | 7,913 |
| Borrowings | 2,234 | 2,199 |
| Cash and equivalents | 299 | 215 |
| Inventories | 1,988 | 1,933 |
| Trade receivables | 1,511 | 1,282 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 738 | 625 |
| Cash from investing | −742 | −172 |
| Cash from financing | 88 | −459 |
| Capital expenditure | 841 | 474 |
Source: Company's results filing (XBRL).
How has Gujarat Fluorochemicals done over the last 8 quarters?
Revenue rose in each of the last three quarters on a year-on-year basis, and profit rose year on year in each of the last two quarters. Revenue reached ₹1,760 crore in Q2 FY27 from a low of ₹1,136 crore in Q3 FY26, while profit was ₹240 crore against a low of ₹102 crore in Q3 FY26.
The EBITDA margin peaked at 30.1% in Q2 FY26 and fell to a low of 22.5% in Q4 FY26 before recovering to 26.9% in Q2 FY27. The current quarter's revenue was the highest in the series, and the margin was broadly steady against Q1 FY27.
Which businesses drove the quarter?
Chemicals segment revenue was ₹1,743 crore in Q2 FY27 against ₹1,215 crore in the year-ago quarter, a rise of 43.5%. Segment EBIT was ₹418 crore against ₹301 crore, with an EBIT margin of 24.0%.
EV Products reported revenue of ₹41 crore against ₹3 crore in Q2 FY26, a rise of 1266.7%. Segment EBIT was negative ₹39 crore against negative ₹22 crore, with an EBIT margin of negative 95.1%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Chemicals | 1,743 | +43.5% | 418 | 24.0% |
| EV Products | 41 | +1266.7% | −39 | -95.1% |
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, along with the limited review reports, following review by the audit committee. The meeting ran from 12:00 noon to 2:00 p.m. on 3 November 2026.
The board also approved investment in securities of GFCL EV Products Limited, a material subsidiary, of up to ₹600 crore, to fund the subsidiary's capex and operational requirements for its expansion plan. The company already holds 96.14% in GFCL EV, and the investment is subject to shareholder approval based on a fair valuation report. No dividend or fund raise was approved in the same-day filings listed.
What did Gujarat Fluorochemicals' management say?
Management maintained fluoropolymers annual revenue growth guidance of 17–20% over the next couple of years, after the segment grew 22% year on year. Initial R32 capacity is targeted for full use by Q3 FY27, R134a production is planned for Q4 FY27, and commercial supplies of PVDF and PTFE under long-term supply agreements are expected to commence in Q4 FY27.
Dr. B. Kapoor, Deputy Managing Director and CEO, said: "The business has a significant growth opportunity over the medium to long term. However, the pace of ramp-up will be linked to the customer qualification timelines, commercial approvals, and capacity ramp-up." Group CFO Akhil Jindal said: "We have not provided any put or any, any backstop from parent or promoters for any such funding." Management also flagged global conflict, Gulf developments, tariffs, financial-market volatility and climate uncertainty as risks, and said bulk chemicals remain soft on pricing and captive use.
How did Gujarat Fluorochemicals shares react?
The shares fell 1.6% in the first five minutes after the filing appeared, were down 3.5% after 15 minutes and down 2.9% after 30 minutes. On the reaction day, the stock closed 3.5% above the previous close of ₹4,329.9. By the next day's close, it was up 6.3% from that pre-results close, against a 0.9% median move for the sector's other stocks.
Earlier reaction-day moves were mixed: 2.3% on 12 August 2026, negative 2.1% on 26 May 2026, negative 3.7% on 12 February 2026 and 6.0% on 11 November 2025. The stock was up 6.3% on the reaction day against the sector's flat median, a 3.5 percentage point excess move.
| After the filing | Stock | Specialty Chemicals median |
|---|---|---|
| 5 minutes | −1.6% | |
| 15 minutes | −3.5% | |
| 30 minutes | −2.9% | |
| Reaction day | +3.5% | +0.0% |
| Next day | +6.3% | +0.9% |
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 |
|---|---|
| 12 August 2026 | +2.3% |
| 26 May 2026 | −2.1% |
| 12 February 2026 | −3.7% |
| 11 November 2025 | +6.0% |
| 5 August 2025 | −1.0% |
| 27 May 2025 | −1.6% |
| 29 January 2025 | +5.7% |
| 29 October 2024 | +1.4% |
Source: MarketPing price-reaction measurement.
How did other Specialty Chemicals companies do?
Of the 47 Specialty Chemicals companies compared, the median revenue growth was 28.1%, below Gujarat Fluorochemicals' 45.5%. Of the peers with revenue growth comparisons available, 33 grew slower than the company and 14 grew faster.
Of the 43 peers compared on profit, 38 reported higher profit. The peer data was as of 4 November 2026.
| Gujarat Fluorochemicals revenue growth (YoY) | +45.5% |
|---|---|
| Median of 47 other Specialty Chemicals companies | +28.1% |
| Companies with slower revenue growth than Gujarat Fluorochemicals | 33 of 47 |
| Companies with faster revenue growth than Gujarat Fluorochemicals | 14 of 47 |
| Companies whose net profit rose | 38 of 43 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Gujarat Fluorochemicals' revenue in Q2 FY27?
Revenue from operations was ₹1,760 crore, up 45.5% from ₹1,210 crore in Q2 FY26 (consolidated).
Did Gujarat Fluorochemicals make a profit in Q2 FY27?
Yes. Net profit was ₹240 crore, against a net profit of ₹179 crore in Q2 FY26.
What was Gujarat Fluorochemicals' EPS in Q2 FY27?
Basic earnings per share were ₹22.11, against ₹16.31 in Q2 FY26.
How did Gujarat Fluorochemicals shares react to the Q2 FY27 results?
On the reaction day the stock moved +3.5% from the previous close; the median Specialty Chemicals stock moved +0.0%.
When did Gujarat Fluorochemicals announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended 30Th September, 2026 (BSE, 26 October 2026) · PDF
- Board Meeting Outcome for Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended 30Th September, 2026 (BSE, 3 November 2026) · PDF
- Outcome Of The Board Meeting Dated 3Rd November, 2026 (BSE, 3 November 2026) · PDF
- The earnings call (3 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.
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