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MAHAN INDUSTRIES Q2 FY27 results: net profit ₹1.29 crore vs ₹0.02 crore, revenue ₹5.33 crore vs ₹1.50 crore
Mahan Industries Ltd. reported standalone revenue of ₹5.33 crore and a net profit of ₹1.29 crore for Q2 FY27, compared with ₹1.50 crore and ₹0.02 crore, respectively, in Q2 FY26. EBITDA was ₹1.75 crore at a 32.8% margin, while basic EPS was ₹2.86.
Key points
- Revenue rose to ₹5.33 crore in Q2 FY27 from ₹1.50 crore in Q2 FY26, an increase of ₹3.83 crore or 255.3%.
- EBITDA increased by ₹1.71 crore to ₹1.75 crore from ₹0.04 crore, while the margin expanded by 30.4 percentage points to 32.8%.
- Net profit rose by ₹1.27 crore to ₹1.29 crore from ₹0.02 crore, and basic EPS increased by ₹2.81 to ₹2.86.
- Against Q1 FY27, revenue rose by ₹2.67 crore to ₹5.33 crore, but net profit fell by ₹0.43 crore to ₹1.29 crore.
- For H1 FY27, revenue was ₹11.03 crore and net profit was ₹3.01 crore, compared with ₹2.15 crore and ₹0.10 crore in H1 FY26.
How did MAHAN INDUSTRIES perform in Q2 FY27?
MAHAN INDUSTRIES reported standalone revenue of ₹5.33 crore for Q2 FY27, up ₹3.83 crore or 255.3% from ₹1.50 crore in Q2 FY26. EBITDA rose by ₹1.71 crore to ₹1.75 crore from ₹0.04 crore, and the EBITDA margin increased by 30.4 percentage points to 32.8%. Profit before tax was ₹1.65 crore, compared with ₹0.02 crore.
The company reported a net profit of ₹1.29 crore in Q2 FY27, up ₹1.27 crore or 6350.0% from ₹0.02 crore in the year-ago quarter. Basic EPS increased by ₹2.81 to ₹2.86 from ₹0.05. Against Q1 FY27, revenue rose by ₹2.67 crore or 100.4%, while net profit fell by ₹0.43 crore or 25.0% and basic EPS declined by ₹0.97 or 25.3%.
Total income was ₹5.33 crore in Q2 FY26 terms against ₹5.33 crore in the quarter, while Q1 FY27 total income was ₹5.70 crore, ₹0.37 crore higher than Q2 FY27. The results were on a standalone basis; no consolidated figures were provided in the filing excerpts.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 5.33 | 2.66 | 1.50 | +255.3% | +100.4% |
| Other income | 0 | 3.04 | 0 | ||
| Total expenses | 3.68 | 3.57 | 1.48 | +148.6% | +3.1% |
| EBITDA | 1.75 | −0.87 | 0.04 | +4275.0% | turned to profit |
| EBITDA margin | 32.8% | -32.6% | 2.4% | +30.4 pp | +65.4 pp |
| Profit before tax | 1.65 | 2.13 | 0.02 | +8150.0% | −22.5% |
| Tax | 0.37 | 0.41 | 0 | −9.8% | |
| Net profit | 1.29 | 1.72 | 0.02 | +6350.0% | −25.0% |
| EPS (₹) | 2.86 | 3.83 | 0.05 | +5620.0% | −25.3% |
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 MAHAN INDUSTRIES's costs and profit?
Total expenses increased by ₹2.20 crore to ₹3.68 crore in Q2 FY27 from ₹1.48 crore in Q2 FY26. Employee cost rose by ₹0.14 crore to ₹0.22 crore, finance costs by ₹0.06 crore to ₹0.08 crore, depreciation by ₹0.01 crore to ₹0.01 crore, and other expenses by ₹1.44 crore to ₹1.47 crore. Cost of materials and other income were unchanged, while tax rose by ₹0.37 crore to ₹0.37 crore.
Compared with Q1 FY27, total expenses increased by ₹0.11 crore to ₹3.68 crore. Employee cost rose by ₹0.14 crore to ₹0.22 crore, finance costs by ₹0.05 crore to ₹0.08 crore, depreciation by ₹0.01 crore to ₹0.01 crore, and other expenses by ₹0.07 crore to ₹1.47 crore. Other income fell by ₹3.04 crore to no other income, while tax declined by ₹0.04 crore to ₹0.37 crore.
There was no exceptional item in Q2 FY27. The filing did not state a specific reason for the changes in operating expenses, other income or the year-on-year movement in profit.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.22 | 0.08 | +0.14 | +175.0% |
| Finance costs | 0.08 | 0.02 | +0.06 | +300.0% |
| Depreciation | 0.01 | 0 | +0.01 | |
| Other expenses | 1.47 | 0.03 | +1.44 | +4800.0% |
| Total expenses | 3.68 | 1.48 | +2.20 | +148.6% |
| Other income | 0 | 0 | 0 | |
| Tax | 0.37 | 0 | +0.37 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, Mahan Industries reported revenue of ₹11.03 crore, compared with ₹2.15 crore in H1 FY26, an increase of ₹8.88 crore or 413.0%. Total income was ₹11.03 crore versus ₹2.16 crore, while profit before tax rose to ₹3.78 crore from ₹0.10 crore.
Net profit for the first half was ₹3.01 crore, up ₹2.91 crore or 2910.0% from ₹0.10 crore in H1 FY26. Basic EPS increased by ₹6.46 to ₹6.69 from ₹0.23. The company’s board approved the unaudited standalone quarterly and half-year results on 22 October 2026, following a limited review by the statutory auditors.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 11.03 | 2.15 | +413.0% |
| Profit before tax | 3.78 | 0.10 | +3680.0% |
| Net profit | 3.01 | 0.10 | +2910.0% |
| EPS (₹) | 6.69 | 0.23 | +2808.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹21.22 crore as on 30 September 2026 from ₹10.96 crore as on 31 March 2026, while total equity increased to ₹8.88 crore from ₹5.21 crore. Cash and cash equivalents were ₹1.87 crore, compared with ₹0.02 crore at the previous balance sheet date. Borrowings were not provided in the facts, and inventories were shown as ₹0.00 crore against ₹1.23 crore.
For H1 FY27, operating cash flow was ₹6.01 crore, compared with ₹0.01 crore in H1 FY26. Investing cash flow was negative ₹5.48 crore versus ₹0.13 crore, and financing cash flow was ₹1.33 crore compared with negative ₹0.06 crore. Capital expenditure was ₹0.00 crore in both periods.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 21.22 | 10.96 |
| Total equity | 8.88 | 5.21 |
| Cash and equivalents | 1.87 | 0.02 |
| Inventories | 0 | 1.23 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 6.01 | 0.01 |
| Cash from investing | −5.48 | 0.13 |
| Cash from financing | 1.33 | −0.06 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has MAHAN INDUSTRIES done over the last 8 quarters?
Revenue reached a low of ₹0.32 crore in Q4 FY25 and has risen in each of the last eight quarters year on year, reaching ₹5.33 crore in Q2 FY27. The latest quarter was also the highest revenue period in the trend data, above ₹2.66 crore in Q1 FY27.
Profit was at its lowest in Q3 FY26, when MAHAN INDUSTRIES reported a net loss of ₹0.27 crore and an EBITDA margin of negative 23.4%. The margin bottomed at negative 59.5% in Q4 FY25 and then moved to 32.8% in Q2 FY27, although Q1 FY27 had a negative 32.6% margin. Net profit reached ₹1.29 crore in the latest quarter after ₹1.72 crore in the preceding quarter.
How did MAHAN INDUSTRIES shares react?
The results were announced after market on 22 October 2026. From the pre-results close of ₹50.13, the stock was unchanged after five minutes but fell 5.0% by the reaction-day close. By the next day's close, it was down 9.7% from that pre-results close, and the cumulative decline reached 26.5% by five sessions.
| After the filing | Stock |
|---|---|
| 5 minutes | +0.0% |
| 15 minutes | −5.0% |
| 30 minutes | −5.0% |
| Reaction day | −5.0% |
| Next day | −9.7% |
| 5 days | −26.5% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
Quick answers
What was MAHAN INDUSTRIES's revenue in Q2 FY27?
Revenue from operations was ₹5.33 crore, up 255.3% from ₹1.50 crore in Q2 FY26 (standalone).
Did MAHAN INDUSTRIES make a profit in Q2 FY27?
Yes. Net profit was ₹1.29 crore, against a net profit of ₹0.02 crore in Q2 FY26.
What was MAHAN INDUSTRIES's EPS in Q2 FY27?
Basic earnings per share were ₹2.86, against ₹0.05 in Q2 FY26.
How did MAHAN INDUSTRIES shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.0% from the previous close.
When did MAHAN INDUSTRIES announce its Q2 FY27 results?
On 22 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for To Consider And Approve Financial Results. (BSE, 17 October 2026) · PDF
- Half Yearly Results Ended On 30.09.2026 (BSE, 22 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Under Regulation 30 Of SEBI (LODR) Regulations, 2015 (BSE, 22 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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