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Indian Toners & Developers Q2 FY27 results: net profit up 3.7% to ₹5.58 crore, revenue up 5.8%
Indian Toners & Developers Ltd reported standalone revenue of ₹41.12 crore and net profit of ₹5.58 crore for Q2 FY27. Revenue rose 5.8% from Q2 FY26, while EBITDA margin was 18.4% and basic EPS was ₹1.07.
Key points
- Standalone Q2 FY27 revenue was ₹41.12 crore, up 5.8% from Q2 FY26.
- EBITDA was ₹7.55 crore, up 3.7% year on year, with an 18.4% margin.
- Net profit was ₹5.58 crore, up 3.7% from Q2 FY26, and basic EPS was ₹1.07.
- For H1 FY27, revenue was ₹77.33 crore and net profit was ₹11.67 crore.
- The Board declared an interim dividend of ₹1.20 per equity share and noted the company’s NSE listing.
How did Indian Toners & Developers perform in Q2 FY27?
Indian Toners & Developers reported standalone revenue of ₹41.12 crore for Q2 FY27, up 5.8% from ₹38.85 crore in Q2 FY26. Other income was ₹1.39 crore and total income was ₹42.51 crore, up 6.0%. EBITDA was ₹7.55 crore, up 3.7%, while the EBITDA margin was 18.4% against 18.7% a year earlier.
Profit before tax was ₹7.57 crore, up 6.0% from ₹7.14 crore, and net profit was ₹5.58 crore, up 3.7% from ₹5.38 crore. Basic EPS was ₹1.07, down 79.3% from ₹5.18 in Q2 FY26. The filing states that comparative EPS was recalculated following the subdivision of equity shares with effect from 17 July 2026.
The quarter was also reported on a standalone basis. The company’s filing included unaudited results for the quarter and half year ended 30 September 2026; no previous-quarter standalone comparison was provided in the facts.
| ₹ crore | Q2 FY27 | Q2 FY26 | YoY |
|---|---|---|---|
| Revenue from operations | 41.12 | 38.85 | +5.8% |
| Other income | 1.39 | 1.24 | +12.1% |
| Total expenses | 34.95 | 32.96 | +6.0% |
| EBITDA | 7.55 | 7.28 | +3.7% |
| EBITDA margin | 18.4% | 18.7% | −0.3 pp |
| Profit before tax | 7.57 | 7.14 | +6.0% |
| Tax | 1.99 | 1.76 | +13.1% |
| Net profit | 5.58 | 5.38 | +3.7% |
| EPS (₹) | 1.07 | 5.18 | −79.3% |
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 Indian Toners & Developers' costs and profit?
Total expenses were ₹34.95 crore in Q2 FY27, up 6.0% from ₹32.96 crore in Q2 FY26. Cost of materials was ₹19.35 crore, up ₹1.87 crore or 10.7%, while other expenses were ₹8.23 crore, up ₹0.38 crore or 4.8%. Employee cost was ₹5.31 crore, up ₹0.03 crore or 0.6%.
Finance costs and depreciation were unchanged year on year at ₹0.04 crore and ₹1.34 crore, respectively. Other income rose from ₹1.24 crore to ₹1.39 crore, a difference of ₹0.15 crore or 12.1%. The quarter had no exceptional item. Tax expense increased by ₹0.23 crore, or 13.1%, to ₹1.99 crore.
The filing gives the movement in cost lines and other income but does not state a reason for the change in profit. Profit before tax therefore reflects the reported movement in income, expenses and other income shown in the results statement.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 19.35 | 17.48 | +1.87 | +10.7% |
| Employee cost | 5.31 | 5.28 | +0.03 | +0.6% |
| Finance costs | 0.04 | 0.04 | 0 | +0.0% |
| Depreciation | 1.34 | 1.34 | 0 | +0.0% |
| Other expenses | 8.23 | 7.85 | +0.38 | +4.8% |
| Total expenses | 34.95 | 32.96 | +1.99 | +6.0% |
| Other income | 1.39 | 1.24 | +0.15 | +12.1% |
| Tax | 1.99 | 1.76 | +0.23 | +13.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, standalone revenue was ₹77.33 crore, down 0.8% from ₹77.96 crore in H1 FY26. Total income was ₹81.22 crore, up 0.5% from ₹80.78 crore. Profit before tax was ₹15.54 crore, down 2.9% from ₹16.0 crore.
H1 FY27 net profit was ₹11.67 crore, down 11.8% from ₹13.23 crore, and basic EPS was ₹2.25, down 82.3% from ₹12.73. The filing stated that comparative-period EPS was calculated based on the increased number of shares resulting from the share subdivision effective from 17 July 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 77.33 | 77.96 | −0.8% |
| Profit before tax | 15.54 | 16 | −2.9% |
| Net profit | 11.67 | 13.23 | −11.8% |
| EPS (₹) | 2.25 | 12.73 | −82.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹274.72 crore against ₹261.07 crore at 31 March 2026, and total equity was ₹244.03 crore against ₹232.27 crore. Cash and cash equivalents were ₹9.32 crore against ₹8.62 crore, while borrowings were ₹0.59 crore at the previous balance-sheet date and no borrowings were reported at the current date. Inventories were ₹24.17 crore and trade receivables ₹30.43 crore.
H1 FY27 operating cash flow was ₹1.77 crore, compared with ₹8.05 crore in the year-earlier period. Investing cash flow was negative ₹0.75 crore against negative ₹17.39 crore, while financing cash flow was negative ₹0.32 crore against negative ₹0.38 crore. Capital expenditure was ₹0.66 crore compared with ₹0.76 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 274.72 | 261.07 |
| Total equity | 244.03 | 232.27 |
| Borrowings | 0 | 0.59 |
| Cash and equivalents | 9.32 | 8.62 |
| Inventories | 24.17 | 19.89 |
| Trade receivables | 30.43 | 27.19 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 1.77 | 8.05 |
| Cash from investing | −0.75 | −17.39 |
| Cash from financing | −0.32 | −0.38 |
| Capital expenditure | 0.66 | 0.76 |
Source: Company's results filing (XBRL).
How has Indian Toners & Developers done over the last 8 quarters?
Revenue reached its highest level in the supplied series at ₹45.74 crore in Q4 FY26 and was ₹41.12 crore in Q2 FY27. It was lower in Q2 FY26 at ₹38.85 crore, while revenue rose year on year in each of the last five quarters. The current direction was lower from the Q4 FY26 peak.
Net profit was highest at ₹7.84 crore in Q1 FY26 and was ₹5.58 crore in Q2 FY27. EBITDA margin peaked at 22.3% in Q4 FY26 and fell to 18.4% in Q2 FY27, the lowest margin among the supplied quarters. Profit rose year on year in each of the last two quarters before the Q2 FY27 comparison.
What else did the company announce?
The Board approved the unaudited financial results for the quarter and half year ended 30 September 2026. It declared an interim dividend of ₹1.20 per equity share of ₹2 face value for FY 2026-27, with the record date on 5 November 2026 and payment on or before 28 November 2026.
The Board also took note of the listing of the company’s equity shares on the National Stock Exchange of India, in addition to its existing BSE listing. The filing stated that the company entered into supply arrangements with manufacturers and suppliers for trading in writing instruments and stationery products during the quarter ended 30 September 2026.
How did Indian Toners & Developers shares react?
| After the filing | Stock | Specialty Chemicals median |
|---|---|---|
| 15 minutes | +0.0% | |
| 30 minutes | −2.2% |
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 |
|---|---|
| 28 July 2026 | −9.8% |
| 11 May 2026 | +0.8% |
| 8 August 2024 | −6.5% |
| 23 May 2024 | +2.0% |
Source: MarketPing price-reaction measurement.
How did other Specialty Chemicals companies do?
The Specialty Chemicals peer set included 48 companies, with a median revenue growth of 28.3%. Three peers grew slower than Indian Toners & Developers, while 45 grew faster. Of the 44 peers for which profit was compared, 39 reported higher profit. The peer data was as of 4 November 2026.
| Indian Toners & Developers revenue growth (YoY) | +5.8% |
|---|---|
| Median of 48 other Specialty Chemicals companies | +28.3% |
| Companies with slower revenue growth than Indian Toners & Developers | 3 of 48 |
| Companies with faster revenue growth than Indian Toners & Developers | 45 of 48 |
| Companies whose net profit rose | 39 of 44 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Indian Toners & Developers' revenue in Q2 FY27?
Revenue from operations was ₹41.12 crore, up 5.8% from ₹38.85 crore in Q2 FY26 (standalone).
Did Indian Toners & Developers make a profit in Q2 FY27?
Yes. Net profit was ₹5.58 crore, against a net profit of ₹5.38 crore in Q2 FY26.
What was Indian Toners & Developers' EPS in Q2 FY27?
Basic earnings per share were ₹1.07, against ₹5.18 in Q2 FY26.
When did Indian Toners & Developers announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Unaudited Financial Results For The Quarter And Half Year Ended 30.09.2026 And Declaration Of Interim Dividend For FY 2026-27 (BSE, 12 October 2026) · PDF
- Unaudited Financial Results For The Quarter And Half Year Ended 30.09.2026 And Limited Review Report (BSE, 30 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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