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IFB Industries Q2 FY26 results: net profit up 61.7% to ₹50.79 crore, revenue up 12.4%
IFB Industries Limited reported consolidated revenue of ₹1,370 crore and a net profit of ₹50.79 crore for Q2 FY26. Revenue rose 12.4% from the year-ago quarter, while EBITDA increased 41.6% and the EBITDA margin expanded to 7.3%.
Key points
- Consolidated revenue was ₹1,370 crore, up 12.4% from Q2 FY25 and 2.4% from Q1 FY26.
- EBITDA was ₹99.78 crore, up 41.6% year on year, with a 7.3% margin compared with 5.8%.
- Net profit was ₹50.79 crore, up 61.7% from Q2 FY25 and 94.2% from Q1 FY26.
- Basic EPS was ₹12.53, up 61.5% from ₹7.76 in the year-ago quarter.
- H1 FY26 revenue was ₹2,708.74 crore, up 8.9%, while net profit was ₹76.95 crore, up 11.6%.
How did IFB Industries perform in Q2 FY26?
IFB Industries’ consolidated Q2 FY26 revenue was ₹1,370 crore, compared with ₹1,219 crore in Q2 FY25 and ₹1,338 crore in Q1 FY26. Revenue increased 12.4% year on year and 2.4% sequentially. Total income was ₹1,377.36 crore, compared with ₹1,232.06 crore a year earlier and ₹1,348.27 crore in the previous quarter.
Consolidated EBITDA was ₹99.78 crore, compared with ₹70.45 crore in Q2 FY25 and ₹63.21 crore in Q1 FY26. The margin was 7.3%, up 1.5 percentage points from the year-ago quarter and 2.6 percentage points from Q1 FY26. Profit before tax was ₹71.80 crore, against ₹48.21 crore and ₹36.51 crore, respectively.
The company reported a net profit of ₹50.79 crore, compared with ₹31.41 crore in Q2 FY25 and ₹26.16 crore in Q1 FY26. Basic EPS was ₹12.53, against ₹7.76 and ₹6.46. On a standalone basis, revenue was ₹1,319.94 crore and profit after tax was ₹49.75 crore, with revenue up 12.2% and profit before tax of ₹33.3 crore.
| ₹ crore | Q2 FY26 | Q1 FY26 | Q2 FY25 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,370 | 1,338 | 1,219 | +12.4% | +2.4% |
| Other income | 6.93 | 9.96 | 12.73 | −45.6% | −30.4% |
| Total expenses | 1,306 | 1,312 | 1,184 | +10.3% | −0.5% |
| EBITDA | 99.78 | 63.21 | 70.45 | +41.6% | +57.9% |
| EBITDA margin | 7.3% | 4.7% | 5.8% | +1.5 pp | +2.6 pp |
| Profit before tax | 71.80 | 36.51 | 48.21 | +48.9% | +96.7% |
| Tax | 19.25 | 8.88 | 11.88 | +62.0% | +116.8% |
| Net profit | 50.79 | 26.16 | 31.41 | +61.7% | +94.2% |
| EPS (₹) | 12.53 | 6.46 | 7.76 | +61.5% | +94.0% |
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 IFB Industries' costs and profit?
Total expenses were ₹1,305.56 crore, up ₹121.71 crore or 10.3% from Q2 FY25. Cost of materials fell ₹26.75 crore to ₹613.55 crore, employee cost fell ₹0.52 crore to ₹112.87 crore, and depreciation fell ₹0.64 crore to ₹29.89 crore. Other expenses rose ₹43.73 crore to ₹352.99 crore, while finance costs increased ₹0.58 crore to ₹5.02 crore.
Other income fell ₹5.80 crore to ₹6.93 crore from ₹12.73 crore in the year-ago quarter. There was no exceptional item in either quarter. Profit before tax increased ₹23.59 crore to ₹71.80 crore, while tax expense rose ₹7.37 crore to ₹19.25 crore, resulting in a net profit increase of ₹19.38 crore to ₹50.79 crore.
Management said the euro had appreciated, affecting material costs, and that after passing the benefit of the GST increase to customers there was no net benefit to IFB’s margins. The company did not provide a filing-based explanation for the increase in other expenses.
| ₹ crore | Q2 FY26 | Q2 FY25 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 613.55 | 640.30 | −26.75 | −4.2% |
| Employee cost | 112.87 | 113.39 | −0.52 | −0.5% |
| Finance costs | 5.02 | 4.44 | +0.58 | +13.1% |
| Depreciation | 29.89 | 30.53 | −0.64 | −2.1% |
| Other expenses | 352.99 | 309.26 | +43.73 | +14.1% |
| Total expenses | 1,306 | 1,184 | +121.71 | +10.3% |
| Other income | 6.93 | 12.73 | −5.80 | −45.6% |
| Tax | 19.25 | 11.88 | +7.37 | +62.0% |
Source: Company's results filing (XBRL).
How did the first half of FY26 go?
In the first half of FY26, consolidated revenue was ₹2,708.74 crore, compared with ₹2,488.49 crore in H1 FY25. Revenue increased ₹220.25 crore, or 8.9%, while total income rose 8.7% to ₹2,725.63 crore from ₹2,508.31 crore.
Profit before tax increased 5.9% to ₹108.31 crore from ₹102.32 crore. Net profit rose 11.6% to ₹76.95 crore from ₹68.95 crore, and basic EPS increased to ₹18.99 from ₹17.02. The company’s consolidated reporting for H1 FY25 used the figures available for comparison.
| ₹ crore | H1 FY26 | H1 FY25 | Change |
|---|---|---|---|
| Revenue from operations | 2,709 | 2,488 | +8.9% |
| Profit before tax | 108.31 | 102.32 | +5.9% |
| Net profit | 76.95 | 68.95 | +11.6% |
| EPS (₹) | 18.99 | 17.02 | +11.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2025, total assets were ₹2,451.6 crore, against ₹2,357.62 crore at 31 March 2025. Total equity was ₹923.34 crore, compared with ₹841.99 crore, while borrowings fell to ₹20.87 crore from ₹98.48 crore. Cash was ₹94.12 crore, compared with ₹109.26 crore.
Inventories increased to ₹695.99 crore from ₹669.66 crore, and trade receivables rose to ₹466.21 crore from ₹430.05 crore. Trade payables increased to ₹1,042.43 crore from ₹943.34 crore. H1 FY26 operating cash flow was ₹163.33 crore, against ₹94.68 crore in H1 FY25, while capital expenditure was ₹46.82 crore compared with ₹31.56 crore.
| ₹ crore | As of 30 September 2025 | As of 31 March 2025 |
|---|---|---|
| Total assets | 2,452 | 2,358 |
| Total equity | 923.34 | 841.99 |
| Borrowings | 20.87 | 98.48 |
| Cash and equivalents | 94.12 | 109.26 |
| Inventories | 695.99 | 669.66 |
| Trade receivables | 466.21 | 430.05 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY26 | H1 FY25 |
|---|---|---|
| Cash from operations | 163.33 | 94.68 |
| Cash from investing | −72.03 | −69.01 |
| Cash from financing | −107.41 | −23.80 |
| Capital expenditure | 46.82 | 31.56 |
Source: Company's results filing (XBRL).
How has IFB Industries done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters. Over the reported period, revenue bottomed at ₹1,090.2 crore in Q4 FY24 and reached ₹1,370.43 crore in Q2 FY26. The latest quarter was the highest in the series, with revenue rising from ₹1,338.31 crore in Q1 FY26.
Net profit reached its lowest level at ₹12.0 crore in Q4 FY24 and its highest at ₹50.79 crore in Q2 FY26, after ₹26.16 crore in Q1 FY26. The EBITDA margin bottomed at 4.3% in Q4 FY24 and reached 7.3% in Q2 FY26, the highest point in the reported trend.
Which businesses drove the quarter?
Home appliances reported revenue of ₹1,092.64 crore, up 14.8% from ₹952.06 crore in the year-ago quarter. EBIT was ₹54.24 crore, compared with ₹26.63 crore, and the segment’s reported EBIT margin was 5.0%.
Engineering reported revenue of ₹244.17 crore, up 5.0% from ₹232.57 crore, while EBIT was ₹29.19 crore compared with ₹29.69 crore. Its reported EBIT margin was 12.0%. Motor revenue was ₹17.88 crore, up 1.3%, with EBIT of ₹0.29 crore negative and a reported EBIT margin of −1.6%.
Steel reported revenue of ₹47.48 crore, up 0.3% from ₹47.35 crore, and EBIT of ₹2.07 crore compared with ₹1.29 crore. Its reported EBIT margin was 4.4%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Home appliances | 1,093 | +14.8% | 54.24 | 5.0% |
| Home appliances | 1,093 | +14.8% | 54.24 | 5.0% |
| Engineering | 244.17 | +5.0% | 29.19 | 12.0% |
| Engineering | 244.17 | +5.0% | 29.19 | 12.0% |
| Motor | 17.88 | +1.3% | −0.29 | -1.6% |
| Motor | 17.88 | +1.3% | −0.29 | -1.6% |
| Steel | 47.48 | +0.3% | 2.07 | 4.4% |
| Steel | 47.48 | +0.3% | 2.07 | 4.4% |
Source: Company's results filing (XBRL segment data).
What did IFB Industries' management say?
Management said the appliances division’s material-cost programme targets ₹200 crore in annualised savings, with ₹14 crore realised in H1 FY26, ₹60–70 crore expected in H2 FY26 and the balance in FY27. Management also said a logistics optimisation project targets a 10% reduction on a base of ₹154 crore, and that a McKinsey assignment targets a 15–20% reduction in marketing spend of ₹100–120 crore over 12 months.
Management maintained a medium-term objective of a double-digit-plus EBITDA margin for appliances, supported by material, fixed-cost and logistics initiatives, but did not issue quantitative revenue, growth or EBITDA-margin guidance. The company also planned to add 10–15% front-load washing-machine capacity beyond the 85,000-per-month base and about 10% top-load capacity beyond the 60,000-per-month base.
Management identified customer satisfaction and service-franchisee concerns, attrition, a variable-pay competitiveness gap, limited brand recall and the dishwasher’s euro input-cost exposure as risks. On the engineering division, management said 60 acquisition targets had been reviewed, three to four formal bids were under way, and a new stamping greenfield plant was planned in Gujarat.
How did IFB Industries shares react?
IFB Industries’ results were announced after market hours. From the price when the filing appeared, the stock fell 1.5% after five minutes, 1.1% after 15 minutes and 2.2% after 30 minutes. On the reaction day, the stock fell 4.0% from its pre-results close, against a 1.1% median decline for the industry.
By the next day’s close, the stock was down 5.7% from its pre-results close, and by the fifth session it was down 6.1%. The industry median was down 0.6% by the next day’s close and 3.0% by the fifth session, leaving IFB Industries 5.1 percentage points below the sector on the next day and 3.2 percentage points below it after five sessions.
Earlier results-day moves were positive 3.4% on 29 July 2025 and 0.8% on 28 May 2025. The stock fell 13.0% on 28 January 2025, 9.2% on 26 October 2024, 2.9% on 27 July 2024 and 10.4% on 28 May 2024.
| After the filing | Stock | Household Appliances median |
|---|---|---|
| 5 minutes | −1.5% | |
| 15 minutes | −1.1% | |
| 30 minutes | −2.2% | |
| Reaction day | −4.0% | −1.1% |
| Next day | −5.7% | −0.6% |
| 5 days | −6.1% | −3.0% |
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 |
|---|---|
| 29 July 2025 | +3.4% |
| 28 May 2025 | +0.8% |
| 28 January 2025 | −13.0% |
| 26 October 2024 | −9.2% |
| 27 July 2024 | −2.9% |
| 28 May 2024 | −10.4% |
Source: MarketPing price-reaction measurement.
How did other Household Appliances companies do?
Twenty-one other Household Appliances companies had filed for the quarter. Their median revenue growth was 6.4%, compared with IFB Industries’ 12.4% revenue growth. Thirteen peers grew more slowly than IFB Industries, while eight grew faster.
Of the 20 peers for which profit was compared, 13 reported higher profit.
| IFB Industries revenue growth (YoY) | +12.4% |
|---|---|
| Median of 21 other Household Appliances companies | +6.4% |
| Companies with slower revenue growth than IFB Industries | 13 of 21 |
| Companies with faster revenue growth than IFB Industries | 8 of 21 |
| Companies whose net profit rose | 13 of 20 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was IFB Industries' revenue in Q2 FY26?
Revenue from operations was ₹1,370 crore, up 12.4% from ₹1,219 crore in Q2 FY25 (consolidated).
Did IFB Industries make a profit in Q2 FY26?
Yes. Net profit was ₹50.79 crore, against a net profit of ₹31.41 crore in Q2 FY25.
What was IFB Industries' EPS in Q2 FY26?
Basic earnings per share were ₹12.53, against ₹7.76 in Q2 FY25.
How did IFB Industries shares react to the Q2 FY26 results?
On the reaction day the stock moved −4.0% from the previous close; the median Household Appliances stock moved −1.1%.
When did IFB Industries announce its Q2 FY26 results?
On 30 October 2025, in a filing to the NSE.
Sources
- Board Meeting Intimation for Intimation Under Regulation 29 Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015, Notice Of Board Meeting (BSE, 18 October 2025) · PDF
- Outcome of Board Meeting (NSE, 30 October 2025) · PDF
- The earnings call (12 November 2025)
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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