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IFB Industries Q2 FY27 results: net profit down 24.5% to ₹38.34 crore, revenue up 15.0%
IFB Industries Limited reported consolidated revenue of ₹1,576 crore in Q2 FY27, up 15.0% from ₹1,370 crore in the year-ago quarter. EBITDA fell to ₹90.70 crore from ₹99.78 crore, while profit after tax declined to ₹38.34 crore from ₹50.79 crore and basic EPS fell to ₹9.47 from ₹12.53.
Key points
- Consolidated revenue was ₹1,576 crore in Q2 FY27, up 15.0% from ₹1,370 crore in Q2 FY26.
- EBITDA was ₹90.70 crore, down 9.1% year on year, and the EBITDA margin fell to 5.8% from 7.3%.
- Net profit was ₹38.34 crore, down 24.5% year on year, while basic EPS fell to ₹9.47 from ₹12.53.
- Against Q1 FY27, revenue fell 0.6% to ₹1,576 crore, EBITDA rose 2.1% to ₹90.70 crore and net profit fell 10.9% to ₹38.34 crore.
- For H1 FY27, revenue was ₹3,160.52 crore, up 16.7%, and profit after tax was ₹81.39 crore, up 5.8%.
How did IFB Industries perform in Q2 FY27?
IFB Industries reported consolidated revenue of ₹1,576 crore for Q2 FY27, up 15.0% from ₹1,370 crore in Q2 FY26. EBITDA fell 9.1% to ₹90.70 crore, and the EBITDA margin declined 1.5 percentage points to 5.8%. Profit before tax fell 16.1% to ₹60.23 crore, while net profit declined 24.5% to ₹38.34 crore and basic EPS fell 24.4% to ₹9.47.
Against Q1 FY27, revenue fell 0.6% to ₹1,576 crore from ₹1,585 crore. EBITDA rose 2.1% to ₹90.70 crore and the margin increased 0.2 percentage points to 5.8%, but profit before tax fell to ₹60.23 crore from ₹56.87 crore in the data provided, while net profit fell 10.9% to ₹38.34 crore and basic EPS declined to ₹9.47 from ₹10.62. On the standalone basis, revenue was ₹1,505.28 crore, total income was ₹1512.54 crore, profit before tax was ₹53.86 crore and profit after tax was ₹39.56 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,576 | 1,585 | 1,370 | +15.0% | −0.6% |
| Other income | 7.49 | 5.77 | 6.93 | +8.1% | +29.8% |
| Total expenses | 1,523 | 1,534 | 1,306 | +16.7% | −0.7% |
| EBITDA | 90.70 | 88.85 | 99.78 | −9.1% | +2.1% |
| EBITDA margin | 5.8% | 5.6% | 7.3% | −1.5 pp | +0.2 pp |
| Profit before tax | 60.23 | 56.87 | 71.80 | −16.1% | +5.9% |
| Tax | 15.33 | 14.15 | 19.25 | −20.4% | +8.3% |
| Net profit | 38.34 | 43.05 | 50.79 | −24.5% | −10.9% |
| EPS (₹) | 9.47 | 10.62 | 12.53 | −24.4% | −10.8% |
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 rose 16.7% year on year to ₹1,523 crore from ₹1,306 crore, outpacing the 15.0% increase in revenue. Cost of materials was higher by ₹102.01 crore at ₹715.56 crore, other expenses increased by ₹36.93 crore to ₹389.92 crore and depreciation rose by ₹3.29 crore to ₹33.18 crore. Employee cost fell by ₹1.28 crore to ₹111.59 crore and finance costs declined by ₹0.24 crore to ₹4.78 crore.
Other income increased by ₹0.56 crore year on year to ₹7.49 crore, while there was no exceptional item in either quarter. Tax expense fell by ₹3.92 crore to ₹15.33 crore from ₹19.25 crore. The filing does not state a reason for the year-on-year movement in each cost line; management said in the investor presentation that commodity inflation and adverse forex movement pressured margins.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 715.56 | 613.55 | +102.01 | +16.6% |
| Employee cost | 111.59 | 112.87 | −1.28 | −1.1% |
| Finance costs | 4.78 | 5.02 | −0.24 | −4.8% |
| Depreciation | 33.18 | 29.89 | +3.29 | +11.0% |
| Other expenses | 389.92 | 352.99 | +36.93 | +10.5% |
| Total expenses | 1,523 | 1,306 | +217.48 | +16.7% |
| Other income | 7.49 | 6.93 | +0.56 | +8.1% |
| Tax | 15.33 | 19.25 | −3.92 | −20.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue rose 16.7% to ₹3,160.52 crore from ₹2,708.74 crore in H1 FY26, while total income increased 16.4% to ₹3,173.78 crore from ₹2,725.63 crore. Profit before tax rose 8.1% to ₹117.1 crore from ₹108.31 crore. Profit after tax increased 5.8% to ₹81.39 crore from ₹76.95 crore, and EPS rose 5.8% to ₹20.09 from ₹18.99.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 3,161 | 2,709 | +16.7% |
| Profit before tax | 117.10 | 108.31 | +8.1% |
| Net profit | 81.39 | 76.95 | +5.8% |
| EPS (₹) | 20.09 | 18.99 | +5.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹2,733.55 crore against ₹2,483.73 crore at 31 March 2026, and total equity was ₹1,075.75 crore against ₹994.86 crore. Borrowings fell to ₹10.86 crore from ₹16.02 crore, while cash declined to ₹112.28 crore from ₹120.58 crore. Inventories rose to ₹782.75 crore from ₹635.13 crore, trade receivables increased to ₹450.37 crore from ₹437.09 crore and trade payables rose to ₹1,114.42 crore from ₹993.03 crore.
H1 FY27 operating cash flow was ₹115.2 crore, compared with ₹163.33 crore in H1 FY26. Investing cash flow was negative ₹51.68 crore against negative ₹72.03 crore, and financing cash flow was negative ₹72.02 crore against negative ₹107.41 crore. Capital expenditure was ₹0.0 crore in H1 FY27, compared with ₹46.82 crore in the year-ago period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,734 | 2,484 |
| Total equity | 1,076 | 994.86 |
| Borrowings | 10.86 | 16.02 |
| Cash and equivalents | 112.28 | 120.58 |
| Inventories | 782.75 | 635.13 |
| Trade receivables | 450.37 | 437.09 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 115.20 | 163.33 |
| Cash from investing | −51.68 | −72.03 |
| Cash from financing | −72.02 | −107.41 |
| Capital expenditure | 0 | 46.82 |
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. Across the reported series, revenue reached its high of ₹1,584.74 crore in Q1 FY27 before easing to ₹1,575.78 crore in Q2 FY27, while the low was ₹1,269.52 crore in Q3 FY25. The latest quarter therefore showed a slight sequential decline after the revenue peak.
Net profit reached a high of ₹50.79 crore in Q2 FY26 and a low of ₹18.87 crore in Q4 FY25 before reporting ₹38.34 crore in Q2 FY27. The EBITDA margin was highest at 7.3% in Q2 FY26 and lowest at 4.6% in Q4 FY25; it improved to 5.8% in the latest quarter from 5.6% in Q1 FY27.
Which businesses drove the quarter?
Home appliances revenue rose 11.7% year on year to ₹1,220.86 crore from ₹1,092.64 crore, while EBIT fell to ₹33.32 crore from ₹54.24 crore. The reported EBIT margin was 2.7%. Engineering revenue increased 24.4% to ₹303.69 crore from ₹244.17 crore, and EBIT rose to ₹36.21 crore from ₹29.19 crore, with an EBIT margin of 11.9%.
Motor revenue rose 49.4% to ₹26.71 crore from ₹17.88 crore, while EBIT was negative ₹0.90 crore compared with negative ₹0.29 crore; its EBIT margin was negative 3.4%. Steel revenue increased 36.3% to ₹64.73 crore from ₹47.48 crore, and EBIT rose to ₹2.30 crore from ₹2.07 crore, with an EBIT margin of 3.6%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Home appliances | 1,221 | +11.7% | 33.32 | 2.7% |
| Engineering | 303.69 | +24.4% | 36.21 | 11.9% |
| Motor | 26.71 | +49.4% | −0.90 | -3.4% |
| Steel | 64.73 | +36.3% | 2.30 | 3.6% |
Source: Company's results filing (XBRL segment data).
What did IFB Industries' management say?
Management said its objective was to reach 3X revenue growth in three years in commercial appliances, and it set a target of ₹500 Crores of new Engineering order bookings during FY 2026-27. For Engineering’s new areas, management identified expected annualised revenue of ₹150 Crores from EV, ₹200 Crores from Chain Manufacturing and ₹60 Crores from Braking System. Management said the Chain Manufacturing line was expected to be operational from March 2027.
Management said it was targeting an overall Engineering inventory holding of 45 days through focused inventory optimisation and faster conversion of tool inventory into receivables, alongside a 5% reduction in Automotive Motor input costs. On capacity, management said additional presses were being procured at Bangalore, a Gujarat stamping plant was being evaluated, and the Chain Manufacturing line would reduce import dependence.
Management identified commodity inflation, adverse forex movement, working-capital pressure, festive-demand timing and EV-transition risk as offsets. It said part of festive demand shifted to November and microwave industry volumes declined 10% in Q2 FY27. It also said BIS restrictions disrupted chain availability, although the situation had stabilised, and that new businesses faced material-cost pressure that could not be fully passed on.
How did IFB Industries shares react?
After the filing, IFB Industries was down 0.4% after five minutes, up 1.2% after 15 minutes and up 1.0% after 30 minutes. The stock closed the reaction day up 0.2% from its pre-results close, was up 0.5% by the next day’s close and up 5.7% by the fifth session’s close.
| After the filing | Stock | Household Appliances median |
|---|---|---|
| 5 minutes | −0.4% | |
| 15 minutes | +1.2% | |
| 30 minutes | +1.0% | |
| Reaction day | +0.2% | +1.4% |
| Next day | +0.5% | +1.4% |
| 5 days | +5.7% | +1.1% |
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 |
|---|---|
| 6 August 2026 | −3.2% |
| 25 May 2026 | +7.8% |
| 24 January 2026 | −18.7% |
| 30 October 2025 | −4.0% |
| 29 July 2025 | +3.4% |
| 28 May 2025 | +0.8% |
| 28 January 2025 | −13.0% |
| 26 October 2024 | −9.2% |
Source: MarketPing price-reaction measurement.
How did other Household Appliances companies do?
Among 11 Household Appliances companies that filed for the quarter, the median revenue growth was 18.2%. Seven peers grew faster than IFB Industries and four grew more slowly. Eight of the 11 peers reported higher profit.
| IFB Industries revenue growth (YoY) | +15.0% |
|---|---|
| Median of 11 other Household Appliances companies | +18.2% |
| Companies with slower revenue growth than IFB Industries | 4 of 11 |
| Companies with faster revenue growth than IFB Industries | 7 of 11 |
| Companies whose net profit rose | 8 of 11 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was IFB Industries' revenue in Q2 FY27?
Revenue from operations was ₹1,576 crore, up 15.0% from ₹1,370 crore in Q2 FY26 (consolidated).
Did IFB Industries make a profit in Q2 FY27?
Yes. Net profit was ₹38.34 crore, against a net profit of ₹50.79 crore in Q2 FY26.
What was IFB Industries' EPS in Q2 FY27?
Basic earnings per share were ₹9.47, against ₹12.53 in Q2 FY26.
How did IFB Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.2% from the previous close; the median Household Appliances stock moved +1.4%.
When did IFB Industries announce its Q2 FY27 results?
On 27 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for To Consider And Approve The Unaudited Financial Results (Standalone And Consolidated) Of The Company For The Quarter And Half Year Ended 30Th September, 2026. (BSE, 20 October 2026) · PDF
- Outcome of Board Meeting (NSE, 27 October 2026) · PDF
- The investor presentation (2 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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