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Manali Petrochemicals Q2 FY27 results: net profit ₹63.50 crore vs ₹18.15 crore, revenue up 59.5%
Manali Petrochemicals Limited reported consolidated Q2 FY27 revenue of ₹395.57 crore, up 59.5% from ₹248.04 crore in Q2 FY26. Net profit rose to ₹63.50 crore from ₹18.15 crore, while basic EPS increased to ₹3.69 from ₹1.06; against Q1 FY27, revenue was higher but net profit and EBITDA were lower.
Key points
- Consolidated revenue was ₹395.57 crore in Q2 FY27, up ₹147.53 crore or 59.5% from Q2 FY26.
- EBITDA was ₹79.04 crore, up ₹58.74 crore from ₹20.30 crore, with the margin rising 11.8 percentage points to 20.0%.
- Net profit was ₹63.50 crore, up ₹45.35 crore from ₹18.15 crore; basic EPS was ₹3.69 against ₹1.06.
- Against Q1 FY27, revenue rose ₹120.85 crore to ₹395.57 crore, while net profit fell ₹0.86 crore to ₹63.50 crore.
- H1 FY27 revenue was ₹670.29 crore, up ₹187.58 crore from H1 FY26, and net profit was ₹127.86 crore against ₹32.49 crore.
How did Manali Petrochemicals perform in Q2 FY27?
Consolidated revenue for Q2 FY27 was ₹395.57 crore, compared with ₹248.04 crore in Q2 FY26 and ₹274.72 crore in Q1 FY27. Total income was ₹414.37 crore, against ₹260.94 crore a year earlier and ₹288.49 crore in the previous quarter.
EBITDA was ₹79.04 crore in Q2 FY27, compared with ₹20.30 crore in Q2 FY26 and ₹82.79 crore in Q1 FY27. The EBITDA margin was 20.0%, against 8.2% in Q2 FY26 and 30.1% in Q1 FY27.
Profit before tax was ₹85.30 crore, compared with ₹20.99 crore in Q2 FY26 and ₹84.53 crore in Q1 FY27. Net profit was ₹63.50 crore, against ₹18.15 crore and ₹64.36 crore respectively; basic EPS was ₹3.69, compared with ₹1.06 and ₹3.74. On the standalone basis, revenue was ₹348.82 crore and net profit was ₹53.47 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 395.57 | 274.72 | 248.04 | +59.5% | +44.0% |
| Other income | 18.80 | 13.77 | 12.90 | +45.7% | +36.5% |
| Total expenses | 329.07 | 203.96 | 238.97 | +37.7% | +61.3% |
| EBITDA | 79.04 | 82.79 | 20.30 | +289.4% | −4.5% |
| EBITDA margin | 20.0% | 30.1% | 8.2% | +11.8 pp | −10.1 pp |
| Profit before tax | 85.30 | 84.53 | 20.99 | +306.4% | +0.9% |
| Tax | 21.80 | 20.17 | 2.84 | +667.6% | +8.1% |
| Net profit | 63.50 | 64.36 | 18.15 | +249.9% | −1.3% |
| EPS (₹) | 3.69 | 3.74 | 1.06 | +248.1% | −1.3% |
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 Manali Petrochemicals' costs and profit?
Against Q2 FY26, cost of materials was higher by ₹92.36 crore, at ₹217.46 crore, while total expenses rose ₹90.10 crore to ₹329.07 crore. Employee benefit expense fell ₹0.72 crore to ₹16.98 crore, finance costs fell ₹0.14 crore to ₹3.22 crore, and other expenses rose ₹5.94 crore to ₹52.21 crore.
Other income increased ₹5.90 crore from Q2 FY26 to ₹18.80 crore. The year-ago quarter included an exceptional charge of ₹0.98 crore, while Q2 FY27 had no exceptional item. Tax expense was ₹21.80 crore, up ₹18.96 crore from ₹2.84 crore.
Against Q1 FY27, cost of materials rose ₹49.21 crore to ₹217.46 crore and total expenses rose ₹125.11 crore to ₹329.07 crore. Other income increased ₹5.03 crore to ₹18.80 crore, employee benefit expense fell ₹2.11 crore to ₹16.98 crore, and finance costs rose ₹0.16 crore to ₹3.22 crore. Tax expense was ₹21.80 crore, up ₹1.63 crore from ₹20.17 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 217.46 | 125.10 | +92.36 | +73.8% |
| Employee cost | 16.98 | 17.70 | −0.72 | −4.1% |
| Finance costs | 3.22 | 3.36 | −0.14 | −4.2% |
| Depreciation | 9.32 | 7.87 | +1.45 | +18.4% |
| Other expenses | 52.21 | 46.27 | +5.94 | +12.8% |
| Total expenses | 329.07 | 238.97 | +90.10 | +37.7% |
| Other income | 18.80 | 12.90 | +5.90 | +45.7% |
| Tax | 21.80 | 2.84 | +18.96 | +667.6% |
| Exceptional items | none | −0.98 (charge) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹670.29 crore, up ₹187.58 crore or 38.9% from ₹482.71 crore in H1 FY26. Total income rose ₹199.23 crore to ₹702.86 crore, while profit before tax increased ₹128.88 crore to ₹169.83 crore.
Net profit for H1 FY27 was ₹127.86 crore, compared with ₹32.49 crore in H1 FY26. Basic EPS was ₹7.43 against ₹1.89.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 670.29 | 482.71 | +38.9% |
| Profit before tax | 169.83 | 40.95 | +314.7% |
| Net profit | 127.86 | 32.49 | +293.5% |
| EPS (₹) | 7.43 | 1.89 | +293.1% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹1,741.19 crore, compared with ₹1,595.94 crore at 31 March 2026. Total equity was ₹1,410.12 crore against ₹1,281.46 crore, borrowings were ₹49.04 crore against ₹58.46 crore, and cash was ₹569.81 crore against ₹372.22 crore.
Inventories were ₹179.35 crore at 30 September 2026, compared with ₹153.55 crore at 31 March 2026. Trade receivables were ₹207.84 crore against ₹168.28 crore, while trade payables were ₹106.76 crore against ₹112.95 crore.
In H1 FY27, operating cash flow was ₹106.14 crore, compared with ₹36.40 crore in H1 FY26. Investing cash flow was ₹115.75 crore against ₹72.77 crore, financing cash flow was ₹24.30 crore lower at ₹24.30 crore of outflow versus ₹18.31 crore of inflow, and capital expenditure was ₹12.60 crore against ₹39.54 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,741 | 1,596 |
| Total equity | 1,410 | 1,281 |
| Borrowings | 49.04 | 58.46 |
| Cash and equivalents | 569.81 | 372.22 |
| Inventories | 179.35 | 153.55 |
| Trade receivables | 207.84 | 168.28 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 106.14 | 36.40 |
| Cash from investing | 115.75 | 72.77 |
| Cash from financing | −24.30 | 18.31 |
| Capital expenditure | 12.60 | 39.54 |
Source: Company's results filing (XBRL).
How has Manali Petrochemicals done over the last 8 quarters?
Revenue rose year on year in each of the last five quarters and reached a period high of ₹395.57 crore in Q2 FY27, compared with a low of ₹196.12 crore in Q3 FY25. Revenue fell from ₹292.66 crore in Q4 FY26 to ₹274.72 crore in Q1 FY27 before rising in the latest quarter.
Net profit increased year on year in each of the last eight quarters. It peaked at ₹68.43 crore in Q3 FY26 and was lowest at ₹5.27 crore in Q3 FY25; the latest quarter recorded ₹63.50 crore after ₹64.36 crore in Q1 FY27.
The EBITDA margin peaked at 30.1% in Q1 FY27 and bottomed at 5.7% in Q3 FY26. It eased to 20.0% in Q2 FY27 after 8.5% in Q4 FY26.
What did the auditors point out?
The auditor reported that nothing had come to its attention indicating that the statement had not disclosed the information required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, or contained a material misstatement. The review was conducted under SRE 2410 and provided moderate assurance.
The auditor included an emphasis of matter for the leasehold land on which Unit-II operates. The lease expired on 30 June 2017, renewal requests were pending with the Government of Tamil Nadu, and no adjustments were made because the potential impact of non-renewal could not be determined. The conclusion was not modified.
A second emphasis of matter concerned the insurance claim for flood damage to production plants caused by Cyclone Michaung. The claim was under assessment, and ₹1,180 lakhs net of ₹300 lakhs received was treated as insurance claims receivable; the final implications were unascertainable, so no adjustments were made and the conclusion was not modified.
How did Manali Petrochemicals shares react?
After the filing appeared in the market, the stock was up 4.9% after five minutes, 4.5% after 15 minutes and 2.4% after 30 minutes. It closed the reaction day up 3.9% from the previous close of ₹74.10. The Petrochemicals sector median fell 1.0%, making the stock’s reaction-day excess return 4.9 percentage points.
Past results-day moves were mixed. The stock moved 12.4% on 21 May 2026, 2.2% on 2 February 2026, 2.1% on 10 November 2025, 1.0% on 11 August 2025 and 5.8% on 13 May 2025; it fell 0.1% on 13 August 2026 and 6.3% on 4 November 2024.
| After the filing | Stock | Petrochemicals median |
|---|---|---|
| 5 minutes | +4.9% | |
| 15 minutes | +4.5% | |
| 30 minutes | +2.4% | |
| Reaction day | +3.9% | −1.0% |
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 |
|---|---|
| 13 August 2026 | −0.1% |
| 21 May 2026 | +12.4% |
| 2 February 2026 | +2.2% |
| 10 November 2025 | +2.1% |
| 11 August 2025 | +1.0% |
| 13 May 2025 | +5.8% |
| 5 February 2025 | +0.8% |
| 4 November 2024 | −6.3% |
Source: MarketPing price-reaction measurement.
How did other Petrochemicals companies do?
Five other Petrochemicals companies that had filed for the quarter had a median revenue growth of 24.1%. Three grew more slowly than Manali Petrochemicals and two grew faster than the company. Four of the five reported higher profit, based on a comparison covering five peers.
| Manali Petrochemicals revenue growth (YoY) | +59.5% |
|---|---|
| Median of 5 other Petrochemicals companies | +24.1% |
| Companies with slower revenue growth than Manali Petrochemicals | 3 of 5 |
| Companies with faster revenue growth than Manali Petrochemicals | 2 of 5 |
| Companies whose net profit rose | 4 of 5 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Manali Petrochemicals' revenue in Q2 FY27?
Revenue from operations was ₹395.57 crore, up 59.5% from ₹248.04 crore in Q2 FY26 (consolidated).
Did Manali Petrochemicals make a profit in Q2 FY27?
Yes. Net profit was ₹63.50 crore, against a net profit of ₹18.15 crore in Q2 FY26.
What was Manali Petrochemicals' EPS in Q2 FY27?
Basic earnings per share were ₹3.69, against ₹1.06 in Q2 FY26.
How did Manali Petrochemicals shares react to the Q2 FY27 results?
On the reaction day the stock moved +3.9% from the previous close; the median Petrochemicals stock moved −1.0%.
When did Manali Petrochemicals announce its Q2 FY27 results?
On 6 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of The Un-Audited Financial Results Of The Company (Standalone And Consolidated) For The Quarter And Half Year Ended 30Th September 2026. (BSE, 2 November 2026) · PDF
- Board Meeting Outcome for Board Meeting Outcome For Un-Audited Financial Results For The Quarter And Six Months Ended 30Th September 2026. (BSE, 6 November 2026) · PDF
- Un-Audited Financial Results For The Quarter And Six Months Ended 30Th September 2026 (BSE, 6 November 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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