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Indo Count Industries Q2 FY27 results: net profit ₹131.88 crore vs ₹39.03 crore, revenue up 57.5%
Indo Count Industries Ltd reported consolidated Q2 FY27 revenue of ₹1,673 crore, up 57.5% from the year-ago quarter, with net profit of ₹131.88 crore against ₹39.03 crore. EBITDA was ₹233.01 crore and the EBITDA margin was 13.9%. On a standalone basis, revenue was ₹1,138.66 crore and profit was ₹124.15 crore.
Key points
- Consolidated Q2 FY27 revenue was ₹1,673 crore, up 57.5% from ₹1,062 crore in Q2 FY26.
- EBITDA rose to ₹233.01 crore from ₹103.66 crore, with the margin at 13.9% against 9.8%.
- Net profit was ₹131.88 crore, up 237.9% from ₹39.03 crore, and basic EPS was ₹6.66 against ₹1.97.
- Against Q1 FY27, revenue rose 38.6% to ₹1,673 crore and net profit rose 108.6% to ₹131.88 crore.
- For H1 FY27, revenue was ₹2,879.62 crore, up 42.5%, and net profit was ₹195.1 crore, up 150.0%.
How did Indo Count Industries perform in Q2 FY27?
Indo Count Industries recorded consolidated revenue of ₹1,673 crore in Q2 FY27, up 57.5% from ₹1,062 crore in the year-ago quarter and up 38.6% from ₹1,207 crore in Q1 FY27. Total income was ₹1,698.89 crore, against ₹1,081.56 crore a year earlier and ₹1,224.01 crore in the previous quarter. The company attributed the revenue growth to market share gains, increased wallet share from customers and a growing contribution from its branded portfolio.
EBITDA was ₹233.01 crore, up 124.8% from ₹103.66 crore in Q2 FY26 and 62.5% from ₹143.36 crore in Q1 FY27. The EBITDA margin was 13.9%, against 9.8% a year earlier and 11.9% in the previous quarter. Profit before tax rose to ₹176.27 crore from ₹52.06 crore, while net profit was ₹131.88 crore against ₹39.03 crore a year earlier and ₹63.22 crore in the previous quarter.
Basic EPS was ₹6.66, against ₹1.97 in Q2 FY26 and ₹3.19 in Q1 FY27. On a standalone basis, Q2 FY27 revenue was ₹1,138.66 crore and profit after tax was ₹124.15 crore, against standalone revenue of ₹1,138.66 crore and profit before tax of ₹42.27 crore for the year-ago period.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,673 | 1,207 | 1,062 | +57.5% | +38.6% |
| Other income | 26.24 | 17.05 | 19.43 | +35.0% | +53.9% |
| Total expenses | 1,523 | 1,140 | 1,030 | +47.9% | +33.5% |
| EBITDA | 233.01 | 143.36 | 103.66 | +124.8% | +62.5% |
| EBITDA margin | 13.9% | 11.9% | 9.8% | +4.1 pp | +2.0 pp |
| Profit before tax | 176.27 | 83.51 | 52.06 | +238.6% | +111.1% |
| Tax | 44.40 | 20.29 | 13.03 | +240.8% | +118.8% |
| Net profit | 131.88 | 63.22 | 39.03 | +237.9% | +108.6% |
| EPS (₹) | 6.66 | 3.19 | 1.97 | +238.1% | +108.8% |
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 Indo Count Industries' costs and profit?
Total expenses were ₹1,523 crore in Q2 FY27, up 47.9% from ₹1,030 crore in the year-ago quarter and 33.5% from ₹1,140 crore in Q1 FY27. Cost of materials was ₹705.99 crore, higher by ₹207.98 crore from a year earlier, while employee cost was ₹193.12 crore, up ₹68.67 crore. Other expenses rose ₹82.03 crore to ₹416.41 crore, finance costs increased ₹4.79 crore to ₹36.61 crore, and depreciation was up ₹7.17 crore at ₹46.37 crore.
Other income was ₹26.24 crore, up ₹6.81 crore from ₹19.43 crore in Q2 FY26 and ₹9.19 crore from ₹17.05 crore in Q1 FY27. There was no exceptional item in the quarter. Tax expense rose to ₹44.40 crore from ₹13.03 crore a year earlier, an increase of ₹31.37 crore, and was ₹24.11 crore higher than in Q1 FY27.
The filing did not state reasons for the changes in individual cost lines. Management said the growth was driven by market share gains, increased wallet share and a growing contribution from the branded portfolio, and that a focus on sweating existing assets, optimising resource utilisation and enhancing operational efficiencies translated into margin expansion.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 705.99 | 498.01 | +207.98 | +41.8% |
| Employee cost | 193.12 | 124.45 | +68.67 | +55.2% |
| Finance costs | 36.61 | 31.82 | +4.79 | +15.1% |
| Depreciation | 46.37 | 39.20 | +7.17 | +18.3% |
| Other expenses | 416.41 | 334.38 | +82.03 | +24.5% |
| Total expenses | 1,523 | 1,030 | +493.11 | +47.9% |
| Other income | 26.24 | 19.43 | +6.81 | +35.0% |
| Tax | 44.40 | 13.03 | +31.37 | +240.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹2,879.62 crore, up 42.5% from ₹2,020.84 crore in H1 FY26. Total income rose to ₹2,922.9 crore from ₹2,048.88 crore, and profit before tax increased to ₹259.78 crore from ₹102.6 crore. The investor presentation states that highest-ever half-yearly total income of ₹2,923 crores was delivered with 43% growth.
Net profit for H1 FY27 was ₹195.1 crore, up 150.0% from ₹78.05 crore in the first half of FY26, and basic EPS was ₹9.85 against ₹3.94. The investor presentation states that EBITDA nearly doubled to ₹420 crores from ₹243 crores, with the H1 EBITDA margin at 14.4% against 11.8%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2,880 | 2,021 | +42.5% |
| Profit before tax | 259.78 | 102.60 | +153.2% |
| Net profit | 195.10 | 78.05 | +150.0% |
| EPS (₹) | 9.85 | 3.94 | +150.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets stood at ₹4,987.57 crore on 30 September 2026, against ₹4,491.83 crore at 31 March 2026. Total equity rose to ₹2,549.19 crore from ₹2,355.3 crore, while borrowings fell to ₹1,048.66 crore from ₹1,073.66 crore. Cash and cash equivalents were ₹315.64 crore against ₹113.56 crore at the previous balance sheet date. Inventories rose to ₹1,424.89 crore from ₹1,250.87 crore, trade receivables to ₹555.12 crore from ₹512.96 crore, and trade payables to ₹625.97 crore from ₹371.51 crore.
For H1 FY27, net cash from operating activities was ₹381.98 crore, against ₹360.75 crore in H1 FY26. The cash used in investing activities was ₹44.45 crore, compared with ₹97.33 crore a year earlier, and cash used in financing activities was ₹135.46 crore against ₹307.92 crore. Capital expenditure was ₹44.71 crore in the first half, against ₹108.7 crore in the year-ago period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 4,988 | 4,492 |
| Total equity | 2,549 | 2,355 |
| Borrowings | 1,049 | 1,074 |
| Cash and equivalents | 315.64 | 113.56 |
| Inventories | 1,425 | 1,251 |
| Trade receivables | 555.12 | 512.96 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 381.98 | 360.75 |
| Cash from investing | −44.45 | −97.33 |
| Cash from financing | −135.46 | −307.92 |
| Capital expenditure | 44.71 | 108.70 |
Source: Company's results filing (XBRL).
How has Indo Count Industries done over the last 8 quarters?
Revenue reached ₹1,672.65 crore in Q2 FY27, its highest level in the eight quarters shown, and was up 57.5% from a year earlier. Revenue had bottomed at ₹958.71 crore in Q1 FY26, having been ₹1,151.55 crore in Q3 FY25 and ₹1,022.56 crore in Q4 FY25, before rising to ₹1,206.96 crore in Q1 FY27.
Net profit of ₹131.88 crore in Q2 FY27 was the highest of the eight quarters and was up 237.9% from ₹39.03 crore a year earlier. Profit had fallen as low as ₹11.2 crore in Q4 FY25 and last stood at ₹24.2 crore in Q4 FY26. The EBITDA margin was 13.9% in Q2 FY27 against a low of 8.0% in Q4 FY25 and 8.2% in Q4 FY26. Revenue and profit each rose year on year in each of the last three quarters.
What else did the company announce?
The board of Indo Count Industries approved the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026 at a meeting held on 4 November 2026. The board meeting ran from 12:30 p.m. to 1:40 p.m. The company also filed an investor presentation for Q2 and H1 FY27 on the same day, which stated that management expects to beat FY27 guidance. The filing does not record a dividend, a fund raise or any appointment.
What did Indo Count Industries' management say?
Management maintained FY27 guidance of ₹5,500 crore revenue, 105-110 million meters of volume and 13% EBITDA margin, and said it expects to exceed the revenue and EBITDA targets. Mohit Jain, Executive Vice Chairman, said: "Given the strong H1 performance, we believe we are well positioned to exceed the guidance given for the current year, both for the top line and the EBITDA." Management indicated 14-15% could be possible for FY27, while saying it would not exceed that range immediately.
How did Indo Count Industries shares react?
The filing appeared in market hours and the stock was down 0.9% five minutes after it appeared, then up 2.0% after 15 minutes and 8.2% after 30 minutes. From the previous close of ₹465.95, the reaction-day close was up 12.2%. By the next day's close, the stock was up 7.3% from its pre-results close.
On the reaction day, the median move for the Other Textile Products sector was up 1.2%, so the stock's move was 11.0 percentage points above the sector median. By the next day's close, the sector median was up 1.7% and the stock's excess move was 5.7 percentage points. The Nifty Microcap 250 was up 2.2% on the reaction day. Earlier results-day moves were up 5.8% on 30 May 2026, down 4.6% on 12 August 2026, up 3.5% on 11 November 2025 and down 6.5% on 30 May 2025.
| After the filing | Stock | Other Textile Products median |
|---|---|---|
| 5 minutes | −0.9% | |
| 15 minutes | +2.0% | |
| 30 minutes | +8.2% | |
| Reaction day | +12.2% | +1.2% |
| Next day | +7.3% | +1.7% |
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 | −4.6% |
| 30 May 2026 | +5.8% |
| 13 February 2026 | −0.5% |
| 11 November 2025 | +3.5% |
| 12 August 2025 | +4.4% |
| 30 May 2025 | −6.5% |
| 11 February 2025 | −3.8% |
| 7 November 2024 | −4.8% |
Source: MarketPing price-reaction measurement.
How did other Other Textile Products companies do?
Ninety-three Other Textile Products companies were compared for revenue growth, with a median revenue growth of 20.7%. Seventy-four peers grew slower than Indo Count Industries and 19 grew faster than the company. Of the 96 peers for which profit was compared, 68 reported higher profit, as of 6 November 2026.
| Indo Count Industries revenue growth (YoY) | +57.5% |
|---|---|
| Median of 93 other Other Textile Products companies | +20.7% |
| Companies with slower revenue growth than Indo Count Industries | 74 of 93 |
| Companies with faster revenue growth than Indo Count Industries | 19 of 93 |
| Companies whose net profit rose | 68 of 96 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Indo Count Industries' revenue in Q2 FY27?
Revenue from operations was ₹1,673 crore, up 57.5% from ₹1,062 crore in Q2 FY26 (consolidated).
Did Indo Count Industries make a profit in Q2 FY27?
Yes. Net profit was ₹131.88 crore, against a net profit of ₹39.03 crore in Q2 FY26.
What was Indo Count Industries' EPS in Q2 FY27?
Basic earnings per share were ₹6.66, against ₹1.97 in Q2 FY26.
How did Indo Count Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved +12.2% from the previous close; the median Other Textile Products stock moved +1.2%.
When did Indo Count Industries announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Notice Of Board Meeting To Be Held On 4Th November, 2026 (BSE, 30 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 4Th November, 2026 (BSE, 4 November 2026) · PDF
- Unaudited Standalone & Consolidated Financial Results Of The Company For The Quarter And Half Year Ended 30Th September, 2026 (BSE, 4 November 2026) · PDF
- The earnings call (5 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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