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Madhusudan Industries Q2 FY27 results: net profit ₹0.31 crore vs ₹0.68 crore loss, revenue up 2.9%
Madhusudan Industries Ltd reported standalone Q2 FY27 revenue of ₹0.35 crore and a net profit of ₹0.31 crore, compared with a net loss of ₹0.68 crore in Q2 FY26. EBITDA was ₹0.09 crore with a 24.4% margin, while basic EPS was ₹0.58. The result included a ₹2.17 crore exceptional gain from the sale of an office building in Ahmedabad.
Key points
- Q2 FY27 revenue was ₹0.35 crore, up 2.9% from ₹0.34 crore in Q2 FY26 and up from ₹0.34 crore in Q1 FY27.
- The company reported a net profit of ₹0.31 crore in Q2 FY27, against a net loss of ₹0.68 crore in Q2 FY26 and a net profit of ₹3.23 crore in Q1 FY27.
- EBITDA was ₹0.09 crore, down 30.8% from ₹0.13 crore in Q2 FY26, while the margin declined 12.8 percentage points to 24.4%.
- Basic EPS was ₹0.58, compared with a loss of ₹1.27 per share in Q2 FY26 and EPS of ₹6.01 in Q1 FY27.
- H1 FY27 revenue was ₹0.69 crore, up 4.5% from ₹0.66 crore, while net profit rose 124.1% to ₹3.54 crore from ₹1.58 crore.
How did Madhusudan Industries perform in Q2 FY27?
Madhusudan Industries reported standalone revenue of ₹0.35 crore for Q2 FY27, compared with ₹0.34 crore in both Q2 FY26 and Q1 FY27. Revenue was up 2.9% year on year. EBITDA fell 30.8% to ₹0.09 crore from ₹0.13 crore in the year-ago quarter, while the margin declined 12.8 percentage points to 24.4% from 37.2%.
Profit before tax was ₹0.11 crore, against a loss of ₹0.92 crore in Q2 FY26, and the company reported a net profit of ₹0.31 crore against a net loss of ₹0.68 crore. Basic EPS was ₹0.58, compared with a loss of ₹1.27 per share in the year-ago quarter. Against Q1 FY27, PBT fell 97.5% from ₹4.32 crore, net profit fell 90.4% from ₹3.23 crore and EPS fell 90.3% from ₹6.01.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0.35 | 0.34 | 0.34 | +2.9% | +2.9% |
| Other income | −2.13 | 4.24 | −1.02 | ||
| Total expenses | 0.29 | 0.25 | 0.23 | +26.1% | +16.0% |
| EBITDA | 0.09 | 0.10 | 0.13 | −30.8% | −10.0% |
| EBITDA margin | 24.4% | 30.2% | 37.2% | −12.8 pp | −5.8 pp |
| Profit before tax | 0.11 | 4.32 | −0.92 | turned to profit | −97.5% |
| Tax | −0.20 | 1.09 | −0.24 | ||
| Net profit | 0.31 | 3.23 | −0.68 | turned to profit | −90.4% |
| EPS (₹) | 0.58 | 6.01 | −1.27 | turned to profit | −90.3% |
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 Madhusudan Industries' costs and profit?
Total expenses rose 26.1% to ₹0.29 crore in Q2 FY27 from ₹0.23 crore in Q2 FY26. Employee benefits expense increased by ₹0.05 crore to ₹0.20 crore, while other expenses increased by ₹0.01 crore to ₹0.07 crore. Cost of materials and finance costs were unchanged, and depreciation remained ₹0.02 crore.
Other income declined by ₹1.11 crore to ₹2.13 crore from ₹1.02 crore in Q2 FY26. Tax expense moved by ₹0.04 crore to ₹0.20 crore from ₹0.24 crore. The year-ago quarter had no exceptional item, while Q2 FY27 included a ₹2.17 crore gain. The filing said this came from the sale of the office building at Ahmedabad and was non-recurring.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.20 | 0.15 | +0.05 | +33.3% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0.02 | 0.02 | 0 | +0.0% |
| Other expenses | 0.07 | 0.06 | +0.01 | +16.7% |
| Total expenses | 0.29 | 0.23 | +0.06 | +26.1% |
| Other income | −2.13 | −1.02 | −1.11 | |
| Tax | −0.20 | −0.24 | +0.04 | |
| Exceptional items | +2.17 (gain) | none |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, revenue was ₹0.69 crore, up 4.5% from ₹0.66 crore in H1 FY26. Total income rose 8.1% to ₹2.80 crore from ₹2.59 crore, while profit before tax rose 110.0% to ₹4.43 crore from ₹2.11 crore.
Net profit for H1 FY27 was ₹3.54 crore, up 124.1% from ₹1.58 crore in H1 FY26. Basic EPS increased 123.4% to ₹6.59 from ₹2.95. The half-year figures include the ₹2.17 crore exceptional gain from the Ahmedabad office-building sale.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0.69 | 0.66 | +4.5% |
| Profit before tax | 4.43 | 2.11 | +110.0% |
| Net profit | 3.54 | 1.58 | +124.1% |
| EPS (₹) | 6.59 | 2.95 | +123.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹34.63 crore, compared with ₹30.38 crore at 31 March 2026, while total equity rose to ₹30.93 crore from ₹27.41 crore. The company reported no borrowings at either balance-sheet date. Cash increased to ₹1.53 crore from ₹0.73 crore.
For H1 FY27, operating cash flow was negative ₹2.94 crore, compared with negative ₹0.74 crore in H1 FY26. Investing cash flow was positive ₹3.73 crore against positive ₹0.22 crore a year earlier, while financing cash flow and capital expenditure were unchanged at ₹0 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 34.63 | 30.38 |
| Total equity | 30.93 | 27.41 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 1.53 | 0.73 |
| Inventories | 0 | 0 |
| Trade receivables | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −2.94 | −0.74 |
| Cash from investing | 3.73 | 0.22 |
| Cash from financing | 0 | 0 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Madhusudan Industries done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters and reached ₹0.35 crore in Q2 FY27, the highest of the reported period. It was ₹0.32 crore in Q3 FY25 and ₹0.34 crore through the middle quarters shown. Net profit moved from ₹3.23 crore in Q1 FY27 to ₹0.31 crore in Q2 FY27, after losses in the preceding three quarters.
EBITDA margin reached 37.2% in Q2 FY26, fell to 3.2% in Q3 FY26 and negative 530.1% in Q4 FY26, then recovered to 30.2% in Q1 FY27 before easing to 24.4% in Q2 FY27. Net profit bottomed at a loss of ₹2.57 crore in Q4 FY25 and later reached ₹3.23 crore in Q1 FY27.
How did Madhusudan Industries shares react?
| After the filing | Stock | Edible Oil median |
|---|---|---|
| 15 minutes | +0.0% | |
| 30 minutes | +0.0% | |
| Reaction day | +4.1% | −1.7% |
| Next day | −0.8% | −0.2% |
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 |
|---|---|
| 11 August 2026 | +5.4% |
| 21 May 2026 | −2.5% |
| 10 February 2026 | +1.6% |
| 7 November 2025 | +2.3% |
| 18 July 2025 | +20.4% |
| 27 May 2025 | −2.0% |
| 28 October 2024 | −5.3% |
| 6 August 2024 | +10.7% |
Source: MarketPing price-reaction measurement.
How did other Edible Oil companies do?
Eight other Edible Oil companies that had filed for the quarter were compared with Madhusudan Industries. Their median revenue growth was 25.0%, while seven grew faster than Madhusudan Industries and one grew more slowly.
Profit was compared across seven peers, of which five reported higher profit. The peer revenue-growth comparison was recorded as of 4 November 2026.
| Madhusudan Industries revenue growth (YoY) | +2.9% |
|---|---|
| Median of 8 other Edible Oil companies | +25.0% |
| Companies with slower revenue growth than Madhusudan Industries | 1 of 8 |
| Companies with faster revenue growth than Madhusudan Industries | 7 of 8 |
| Companies whose net profit rose | 5 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Madhusudan Industries' revenue in Q2 FY27?
Revenue from operations was ₹0.35 crore, up 2.9% from ₹0.34 crore in Q2 FY26 (standalone).
Did Madhusudan Industries make a profit in Q2 FY27?
Yes. Net profit was ₹0.31 crore, against a net loss of ₹0.68 crore in Q2 FY26.
What was Madhusudan Industries' EPS in Q2 FY27?
Basic earnings per share were ₹0.58, against a loss of ₹1.27 in Q2 FY26.
How did Madhusudan Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved +4.1% from the previous close; the median Edible Oil stock moved −1.7%.
When did Madhusudan Industries announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consider And Approve The Unaudited Financial Results For The Quarter And Half Year Ended 30Th September 2026. (BSE, 21 October 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting Dated 30/10/2026 (BSE, 30 October 2026) · PDF
- Unaudited Financial Results For The Quarter And Half Year Ended 30Th September, 2026 (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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