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IRM Energy Q2 FY27 results: net profit up 102.5% to ₹25.43 crore, revenue up 29.0%
IRM Energy Limited reported consolidated revenue of ₹363.61 crore and a net profit of ₹25.43 crore for Q2 FY27. Revenue rose 29.0% from Q2 FY26 and 2.5% from Q1 FY27, while profit was higher year on year but lower than the previous quarter; EBITDA margin was 13.0%.
Key points
- Revenue was ₹363.61 crore in Q2 FY27, up 29.0% from Q2 FY26 and 2.5% from Q1 FY27.
- EBITDA was ₹47.32 crore, up 77.2% from Q2 FY26 but down 23.4% from Q1 FY27; the margin was 13.0%.
- Net profit was ₹25.43 crore, up 102.5% from Q2 FY26 but down 24.8% from Q1 FY27, with basic EPS of ₹6.19.
- In H1 FY27, revenue was ₹718.36 crore, up 26.6%, while net profit was ₹59.23 crore, up 123.8%.
- Total assets were ₹1,358.24 crore as on 30 September 2026; borrowings were ₹44.58 crore and cash was ₹96.98 crore.
How did IRM Energy perform in Q2 FY27?
IRM Energy reported consolidated revenue of ₹363.61 crore for Q2 FY27, against ₹281.78 crore in Q2 FY26 and ₹354.75 crore in Q1 FY27. Revenue increased 29.0% year on year and 2.5% sequentially. On a standalone basis, revenue was ₹363.61 crore, up 29.0% year on year, while profit after tax was ₹25.83 crore against ₹14.2 crore in Q2 FY26.
Consolidated EBITDA was ₹47.32 crore in Q2 FY27, up 77.2% from ₹26.70 crore in Q2 FY26 but down 23.4% from ₹61.77 crore in Q1 FY27. The EBITDA margin was 13.0%, compared with 9.5% in Q2 FY26 and 17.4% in Q1 FY27, which represents increases of 3.5 percentage points and a decrease of 4.4 percentage points, respectively.
Consolidated profit before tax was ₹35.21 crore, up 85.8% from ₹18.95 crore in Q2 FY26 but down 25.7% from ₹47.40 crore in Q1 FY27. Net profit was ₹25.43 crore, against ₹12.56 crore a year ago and ₹33.81 crore in the previous quarter; basic EPS was ₹6.19.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 363.61 | 354.75 | 281.78 | +29.0% | +2.5% |
| Other income | 4.71 | 5.28 | 5.53 | −14.8% | −10.8% |
| Total expenses | 333.11 | 312.62 | 268.36 | +24.1% | +6.6% |
| EBITDA | 47.32 | 61.77 | 26.70 | +77.2% | −23.4% |
| EBITDA margin | 13.0% | 17.4% | 9.5% | +3.5 pp | −4.4 pp |
| Profit before tax | 35.21 | 47.40 | 18.95 | +85.8% | −25.7% |
| Tax | 9.38 | 13.08 | 4.76 | +97.1% | −28.3% |
| Net profit | 25.43 | 33.81 | 12.56 | +102.5% | −24.8% |
| EPS (₹) | 6.19 | 8.23 | 3.06 | +102.3% | −24.8% |
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 IRM Energy's costs and profit?
Total expenses were ₹333.11 crore in Q2 FY27, up ₹64.75 crore or 24.1% from ₹268.36 crore in Q2 FY26. Other expenses increased by ₹15.78 crore to ₹71.74 crore, depreciation rose by ₹3.40 crore to ₹13.81 crore, employee cost increased by ₹1.59 crore to ₹7.26 crore, and finance costs rose by ₹0.15 crore to ₹3.02 crore. There was no exceptional item in the quarter.
Other income was ₹4.71 crore in Q2 FY27, down ₹0.82 crore or 14.8% from ₹5.53 crore in Q2 FY26. Tax expense was ₹9.38 crore, higher by ₹4.62 crore or 97.1% from ₹4.76 crore in the year-ago quarter. Despite the increase in expenses, EBITDA rose by ₹20.62 crore and net profit increased by ₹12.87 crore year on year.
Against Q1 FY27, total expenses increased by ₹20.49 crore to ₹333.11 crore. Other expenses rose by ₹6.10 crore and employee cost increased by ₹1.38 crore, while depreciation fell by ₹2.61 crore, finance costs fell by ₹0.21 crore and other income declined by ₹0.57 crore. Tax expense was lower by ₹3.70 crore at ₹9.38 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 7.26 | 5.67 | +1.59 | +28.0% |
| Finance costs | 3.02 | 2.87 | +0.15 | +5.2% |
| Depreciation | 13.81 | 10.41 | +3.40 | +32.7% |
| Other expenses | 71.74 | 55.96 | +15.78 | +28.2% |
| Total expenses | 333.11 | 268.36 | +64.75 | +24.1% |
| Other income | 4.71 | 5.53 | −0.82 | −14.8% |
| Tax | 9.38 | 4.76 | +4.62 | +97.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹718.36 crore, up ₹151.1 crore or 26.6% from ₹567.26 crore in H1 FY26. Total income rose 25.4% to ₹728.35 crore from ₹581.02 crore, while profit before tax increased 113.5% to ₹82.61 crore from ₹38.7 crore.
Consolidated profit after tax for H1 FY27 was ₹59.23 crore, up ₹32.76 crore or 123.8% from ₹26.47 crore in H1 FY26. Basic EPS increased by ₹7.98 to ₹14.43. The investor presentation reported H1 EBITDA of ₹109 crore, up 108%, with an EBITDA margin of 16.5%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 718.36 | 567.26 | +26.6% |
| Profit before tax | 82.61 | 38.70 | +113.5% |
| Net profit | 59.23 | 26.47 | +123.8% |
| EPS (₹) | 14.43 | 6.45 | +123.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
H1 FY27 operating cash flow was ₹125.48 crore, compared with ₹82.53 crore in H1 FY26. Investing cash flow was negative ₹56.89 crore against positive ₹209.72 crore, while financing cash flow was negative ₹10.86 crore against negative ₹74.88 crore; capital expenditure was ₹136.49 crore versus ₹86.72 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,358 | 1,296 |
| Total equity | 1,050 | 997.53 |
| Borrowings | 44.58 | 49.62 |
| Cash and equivalents | 96.98 | 39.25 |
| Inventories | 4.62 | 3.74 |
| Trade receivables | 42.72 | 32.84 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 125.48 | 82.53 |
| Cash from investing | −56.89 | 209.72 |
| Cash from financing | −10.86 | −74.88 |
| Capital expenditure | 136.49 | 86.72 |
Source: Company's results filing (XBRL).
How has IRM Energy done over the last 8 quarters?
Revenue rose in each of the last eight quarters on a year-on-year basis. It reached a low of ₹273.32 crore in Q3 FY25 and a high of ₹363.61 crore in Q2 FY27, after ₹354.75 crore in Q1 FY27.
Profit after tax bottomed at ₹4.39 crore in Q4 FY25 and reached a high of ₹33.81 crore in Q1 FY27 before easing to ₹25.43 crore in Q2 FY27. The EBITDA margin peaked at 17.4% in Q1 FY27 and fell to 13.0% in Q2 FY27, after a low of 6.0% in Q4 FY25.
What else did the company announce?
The company filed an investor presentation for the quarter and half year ended 30 September 2026 with the National Stock Exchange and BSE on 30 October 2026. It reported quarterly revenue of ₹660 crore excluding other income, EBITDA of ₹109 crore and profit after tax of ₹59 crore for H1 FY27.
The presentation said that the promoter group increased its stake by 0.67% during H1 FY27. It also reported total debt of ₹45 crore, net debt of nil, cash and bank balance of ₹253 crore and net worth of ₹1,050 crore as on 30 September 2026.
What did IRM Energy's management say?
Management said Q2 FY27 gas volumes reached a record 61.23 MMSCM, with CNG accounting for approximately 66% of the sales mix. The company said Namakkal-Trichy’s contribution increased from approximately 6% to 11% of volume, while selective acquisitions and renewables or adjacent-energy diversification remained under review.
Management said the SPST allocation change reduced gas supply for roughly a fortnight into Q3 FY27 and expected Q3 to be weaker than Q2 sequentially on gas sourcing cost and allocation leakage, with a recovery in Q4. The CFO guided to an EBITDA margin in the range of 15% for H2 FY27 despite the disruption.
Management identified higher gas costs linked to Brent volatility and rupee weakness, continued pressure on industrial PNG volumes from coal gasification economics, geopolitical uncertainty in West Asia and reliance on short-term allocations for Namakkal-Trichy as risks. The CEO said, “We need to be cautious on the same.”
How did IRM Energy shares react?
| After the filing | Stock | LPG/CNG/PNG/LNG Supplier median |
|---|---|---|
| 5 minutes | −0.4% | |
| 15 minutes | −0.7% | |
| 30 minutes | −0.2% | |
| Reaction day | −5.9% | +1.7% |
| Next day | −6.7% | +1.8% |
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 | +0.0% |
| 8 May 2026 | −2.9% |
| 3 February 2026 | +5.5% |
| 12 November 2025 | −5.7% |
| 31 July 2025 | +3.2% |
| 15 May 2025 | −4.6% |
| 10 February 2025 | −6.7% |
| 14 August 2024 | −5.0% |
Source: MarketPing price-reaction measurement.
Quick answers
What was IRM Energy's revenue in Q2 FY27?
Revenue from operations was ₹363.61 crore, up 29.0% from ₹281.78 crore in Q2 FY26 (consolidated).
Did IRM Energy make a profit in Q2 FY27?
Yes. Net profit was ₹25.43 crore, against a net profit of ₹12.56 crore in Q2 FY26.
What was IRM Energy's EPS in Q2 FY27?
Basic earnings per share were ₹6.19, against ₹3.06 in Q2 FY26.
How did IRM Energy shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.9% from the previous close; the median LPG/CNG/PNG/LNG Supplier stock moved +1.7%.
When did IRM Energy announce its Q2 FY27 results?
On 30 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Considering And Approving Unaudited Standalone & Consolidated Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 26 October 2026) · PDF
- Outcome of Board Meeting (NSE, 30 October 2026) · PDF
- The earnings call (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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