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Hindustan Organic Chemicals Q2 FY27 results: net profit ₹35 crore vs ₹18.17 crore loss, revenue up 86.1%
Hindustan Organic Chemicals Ltd reported consolidated revenue of ₹234.95 crore in Q2 FY27, up 86.1% from ₹126.27 crore a year earlier, and a net profit of ₹35 crore against a net loss of ₹18.17 crore in Q2 FY26. EBITDA was ₹47.29 crore at a margin of 20.1%, and basic EPS was ₹5.21.
Key points
- Consolidated Q2 FY27 revenue rose 86.1% to ₹234.95 crore from ₹126.27 crore in Q2 FY26.
- Net profit was ₹35 crore in Q2 FY27 against a net loss of ₹18.17 crore in the year-ago quarter.
- EBITDA was ₹47.29 crore at a 20.1% margin, against a negative margin of -13.6% in Q2 FY26.
- Against Q1 FY27, revenue rose 144.7% to ₹234.95 crore and basic EPS rose to ₹5.21 from ₹0.57.
- For H1 FY27, revenue rose 14.1% to ₹330.95 crore and profit after tax was ₹48.81 crore against a net loss of ₹24.39 crore.
How did Hindustan Organic Chemicals perform in Q2 FY27?
Hindustan Organic Chemicals reported consolidated revenue of ₹234.95 crore for Q2 FY27, the July–September 2026 quarter, against ₹126.27 crore in Q2 FY26 and ₹96 crore in Q1 FY27. Total income was ₹239.36 crore, up ₹107.99 crore from the year-ago quarter and ₹139.07 crore from the previous quarter.
EBITDA was ₹47.29 crore in Q2 FY27 at a margin of 20.1%, against a negative margin of -13.6% in Q2 FY26 and 5.0% in Q1 FY27. Profit before tax was ₹44.82 crore, and after tax of ₹9.97 crore the company reported a net profit of ₹35 crore, against a net loss of ₹18.17 crore a year earlier. Basic EPS was ₹5.21, up from ₹0.57 in Q1 FY27.
On a standalone basis, revenue was ₹234.95 crore, or 86.1% of the consolidated figure, and profit after tax was ₹34.85 crore against a profit before tax of ₹18.14 crore. The standalone profit before tax compared with a loss before tax of ₹18.14 crore in the year-ago quarter.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 234.95 | 96 | 126.27 | +86.1% | +144.7% |
| Other income | 4.41 | 4.29 | 5.10 | −13.5% | +2.8% |
| Total expenses | 194.54 | 96.60 | 149.19 | +30.4% | +101.4% |
| EBITDA | 47.29 | 4.85 | −17.18 | turned to profit | +875.1% |
| EBITDA margin | 20.1% | 5.0% | -13.6% | +33.7 pp | +15.1 pp |
| Profit before tax | 44.82 | 3.69 | −18.14 | turned to profit | +1114.6% |
| Tax | 9.97 | 0 | 0 | ||
| Net profit | 35 | 3.84 | −18.17 | turned to profit | +811.5% |
| EPS (₹) | 5.21 | 0.57 | +814.0% |
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 Hindustan Organic Chemicals' costs and profit?
Total expenses were ₹194.54 crore in Q2 FY27, up ₹45.35 crore from ₹149.19 crore in Q2 FY26 and ₹97.94 crore from ₹96.60 crore in Q1 FY27. Cost of materials was the largest line at ₹137.79 crore, up ₹49.71 crore or 56.4% from the year-ago quarter, while other expenses rose ₹10.05 crore to ₹41.11 crore and finance costs rose ₹1.12 crore to ₹6.38 crore.
Employee cost fell ₹0.64 crore to ₹10.58 crore from ₹11.22 crore in Q2 FY26, and depreciation was ₹0.51 crore against ₹0.48 crore. Other income was ₹4.41 crore, down ₹0.69 crore from ₹5.10 crore a year earlier. There was no exceptional item in Q2 FY27, against a charge of ₹0.32 crore in Q2 FY26.
Tax expense was ₹9.97 crore in Q2 FY27, against no tax in Q2 FY26 and Q1 FY27. The filings do not state a reason for the rise in revenue or for the change in cost lines beyond the reported figures.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 137.79 | 88.08 | +49.71 | +56.4% |
| Employee cost | 10.58 | 11.22 | −0.64 | −5.7% |
| Finance costs | 6.38 | 5.26 | +1.12 | +21.3% |
| Depreciation | 0.51 | 0.48 | +0.03 | +6.3% |
| Other expenses | 41.11 | 31.06 | +10.05 | +32.4% |
| Total expenses | 194.54 | 149.19 | +45.35 | +30.4% |
| Other income | 4.41 | 5.10 | −0.69 | −13.5% |
| Tax | 9.97 | 0 | +9.97 | |
| Exceptional items | none | −0.32 (charge) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹330.95 crore, up 14.1% from ₹290.16 crore in H1 FY26, a rise of ₹40.79 crore. Total income was ₹339.65 crore against ₹300.45 crore, up ₹39.20 crore or 13.0%.
Profit before tax moved to ₹48.51 crore from a loss before tax of ₹24.64 crore in H1 FY26, and profit after tax was ₹48.81 crore against a net loss of ₹24.39 crore. Basic EPS for the half year was ₹5.77.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 330.95 | 290.16 | +14.1% |
| Profit before tax | 48.51 | −24.64 | turned to profit |
| Net profit | 48.81 | −24.39 | turned to profit |
| EPS (₹) | 5.77 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹1571.73 crore on 30 September 2026 against ₹1541.97 crore on 31 March 2026, and total equity was ₹1031.61 crore against ₹993.16 crore. Borrowings fell to ₹203.37 crore from ₹284.26 crore, while cash was ₹0.16 crore against ₹0.34 crore.
Inventories rose to ₹68.48 crore from ₹46.30 crore and trade receivables to ₹10.45 crore from ₹8.40 crore. Trade payables were ₹70.65 crore against ₹15.30 crore at the previous balance sheet date.
For H1 FY27, operating cash flow was ₹87.01 crore, against negative operating cash flow of ₹22.06 crore in H1 FY26. Investing cash flow was ₹5.31 crore against ₹6.09 crore, financing cash flow was negative ₹92.33 crore against positive ₹15.92 crore, and capital expenditure was ₹0.54 crore against ₹1.01 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,572 | 1,542 |
| Total equity | 1,032 | 993.16 |
| Borrowings | 203.37 | 284.26 |
| Cash and equivalents | 0.16 | 0.34 |
| Inventories | 68.48 | 46.30 |
| Trade receivables | 10.45 | 8.40 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 87.01 | −22.06 |
| Cash from investing | 5.31 | 6.09 |
| Cash from financing | −92.33 | 15.92 |
| Capital expenditure | 0.54 | 1.01 |
Source: Company's results filing (XBRL).
How has Hindustan Organic Chemicals done over the last 8 quarters?
Revenue in the reported quarters ranged from ₹96 crore in Q1 FY27 to ₹234.95 crore in Q2 FY27, the highest of the last eight quarters, after a low of ₹126.27 crore in Q2 FY26. Q2 FY27 revenue rose 144.7% from the previous quarter.
Profit after tax bottomed at a net loss of ₹79.16 crore in Q3 FY25 and moved to a net profit of ₹35 crore in Q2 FY27, with ₹15.69 crore recorded in Q4 FY26 and ₹3.84 crore in Q1 FY27. The EBITDA margin was -26.9% in Q4 FY25 at its lowest and reached 20.1% in Q2 FY27, the highest in the series shown.
What else did the company announce?
The board approved the limited reviewed unaudited standalone and consolidated financial results for the second quarter and half year ended 30 September 2026, and noted other routine matters, in its 429th meeting on 4 November 2026. The company filed the results with BSE on 4 November 2026.
The board also noted the appointment of M/s. Balan & Co as statutory auditors for FY 2026-27 by the CAG. No dividend or fund raise was disclosed in the same-day filings.
What did the auditors point out?
Balan & Co issued limited review reports with unmodified opinion and no qualifications for the standalone and consolidated results, and the company submitted a declaration of unmodified opinion. The review was conducted under Standard on Review Engagement 2410 and provides less assurance than an audit.
The reviewers also drew attention to non-compliance with Regulations 17(1)(b), 17(1)(c) and 17(1E) of the SEBI LODR Regulations regarding the composition of independent directors, the minimum number of directors and the delay in filling an independent director vacancy, and stated that their conclusion was not modified in respect of these matters. In the consolidated results, the reviewers noted a material uncertainty relating to going concern at the subsidiary, which is no longer considered a going concern entity following the Government’s decision to close its operations.
How did other Commodity Chemicals companies do?
Twenty-three Commodity Chemicals companies filed this quarter, with a median revenue growth of 19.1%, against revenue growth of 86.1% at Hindustan Organic Chemicals. Twenty peers grew more slowly than the company, and three grew faster.
Of the 27 companies for which profit was compared, 21 reported higher profit. The peer figures are stated as of 5 November 2026.
| Hindustan Organic Chemicals revenue growth (YoY) | +86.1% |
|---|---|
| Median of 23 other Commodity Chemicals companies | +19.1% |
| Companies with slower revenue growth than Hindustan Organic Chemicals | 20 of 23 |
| Companies with faster revenue growth than Hindustan Organic Chemicals | 3 of 23 |
| Companies whose net profit rose | 21 of 27 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Hindustan Organic Chemicals' revenue in Q2 FY27?
Revenue from operations was ₹234.95 crore, up 86.1% from ₹126.27 crore in Q2 FY26 (consolidated).
Did Hindustan Organic Chemicals make a profit in Q2 FY27?
Yes. Net profit was ₹35 crore, against a net loss of ₹18.17 crore in Q2 FY26.
What was Hindustan Organic Chemicals' EPS in Q2 FY27?
Basic earnings per share were ₹5.21.
When did Hindustan Organic Chemicals announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for 429Th Meeting (BSE, 22 October 2026) · PDF
- Board Meeting Outcome for Outcome And Financial Results Of 429Th Board Meeting (BSE, 4 November 2026) · PDF
- Q2 Of FY 2026-27. (BSE, 4 November 2026) · PDF
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