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Mangalam Cement Q2 FY27 results: net profit down 63.2% to ₹7.41 crore, revenue up 9.7%
Mangalam Cement Limited reported standalone Q2 FY27 revenue of ₹433.36 crore, up 9.7% from Q2 FY26, while EBITDA fell 5.0% to ₹40.55 crore and net profit declined 63.2% to ₹7.41 crore. The July–September 2026 quarter’s EBITDA margin was 9.4%, compared with 10.8% a year earlier and 11.7% in Q1 FY27; EPS was ₹2.70.
Key points
- Q2 FY27 revenue was ₹433.36 crore, up 9.7% from ₹394.88 crore in Q2 FY26 but down 4.8% from ₹455.22 crore in Q1 FY27.
- EBITDA was ₹40.55 crore, down 5.0% year on year and 24.0% sequentially, while the margin fell 1.4 percentage points year on year to 9.4%.
- Net profit was ₹7.41 crore, down 63.2% from ₹20.11 crore in Q2 FY26 and 59.0% from ₹18.07 crore in Q1 FY27; basic EPS was ₹2.70.
- Cost of materials consumed rose 35.3% year on year to ₹106.34 crore, while finance costs rose 11.6% to ₹17.61 crore and depreciation rose 10.4% to ₹22.33 crore.
- For H1 FY27, revenue rose 5.0% to ₹888.57 crore, but net profit fell 51.3% to ₹25.48 crore and EPS declined to ₹9.27.
How did Mangalam Cement perform in Q2 FY27?
Mangalam Cement reported standalone revenue of ₹433.36 crore for Q2 FY27, up 9.7% from ₹394.88 crore in Q2 FY26, while total income rose 9.4% to ₹442.85 crore. Against Q1 FY27, revenue fell 4.8% from ₹455.22 crore and total income declined 4.9% from ₹465.82 crore. The filing contains unaudited standalone results for the quarter and half year ended 30 September 2026.
EBITDA was ₹40.55 crore in Q2 FY27, down 5.0% from ₹42.70 crore a year earlier and 24.0% from ₹53.38 crore in the previous quarter. The EBITDA margin fell from 10.8% to 9.4% year on year and from 11.7% sequentially. Profit before tax was ₹10.10 crore, down 38.6% from ₹16.44 crore and 57.3% from ₹23.64 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 433.36 | 455.22 | 394.88 | +9.7% | −4.8% |
| Other income | 9.49 | 10.61 | 9.75 | −2.7% | −10.6% |
| Total expenses | 432.75 | 442.18 | 388.19 | +11.5% | −2.1% |
| EBITDA | 40.55 | 53.38 | 42.70 | −5.0% | −24.0% |
| EBITDA margin | 9.4% | 11.7% | 10.8% | −1.4 pp | −2.3 pp |
| Profit before tax | 10.10 | 23.64 | 16.44 | −38.6% | −57.3% |
| Tax | 2.69 | 5.57 | −3.67 | −51.7% | |
| Net profit | 7.41 | 18.07 | 20.11 | −63.2% | −59.0% |
| EPS (₹) | 2.70 | 6.57 | 7.31 | −63.1% | −58.9% |
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 Mangalam Cement's costs and profit?
Profit before tax fell 38.6% year on year to ₹10.10 crore as total expenses rose 11.5% to ₹432.75 crore, faster than the 9.4% increase in total income. Cost of materials consumed increased 35.3% to ₹106.34 crore, finance costs rose 11.6% to ₹17.61 crore and depreciation rose 10.4% to ₹22.33 crore. Employee cost fell 7.2% to ₹32.26 crore, while other expenses declined 9.2% to ₹252.02 crore; other income fell 2.7% to ₹9.49 crore. There was no exceptional item.
Against Q1 FY27, total expenses fell 2.1% to ₹432.75 crore, but profit before tax declined 57.3% to ₹10.10 crore. Cost of materials consumed rose 92.7% to ₹106.34 crore, while employee cost fell 10.8% to ₹32.26 crore, finance costs fell 3.6% to ₹17.61 crore and other expenses fell 8.7% to ₹252.02 crore. Other income declined 10.6% to ₹9.49 crore and tax fell 51.7% to ₹2.69 crore. The filing does not state the reasons for these movements.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 106.34 | 78.61 | +27.73 | +35.3% |
| Employee cost | 32.26 | 34.77 | −2.51 | −7.2% |
| Finance costs | 17.61 | 15.78 | +1.83 | +11.6% |
| Depreciation | 22.33 | 20.23 | +2.10 | +10.4% |
| Other expenses | 252.02 | 277.55 | −25.53 | −9.2% |
| Total expenses | 432.75 | 388.19 | +44.56 | +11.5% |
| Other income | 9.49 | 9.75 | −0.26 | −2.7% |
| Tax | 2.69 | −3.67 | +6.36 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, revenue was ₹888.57 crore, up 5.0% from ₹846.62 crore in H1 FY26, while total income rose 4.8% to ₹908.67 crore from ₹866.99 crore. Profit before tax fell 48.6% to ₹33.74 crore from ₹65.58 crore, and net profit declined 51.3% to ₹25.48 crore from ₹52.36 crore.
Basic EPS for H1 FY27 was ₹9.27, down from ₹19.04 in H1 FY26. The company’s board approved the unaudited standalone financial results and the related statement of assets and liabilities and cash flow statement on 3 November 2026; the statutory auditors carried out a limited review.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 888.57 | 846.62 | +5.0% |
| Profit before tax | 33.74 | 65.58 | −48.6% |
| Net profit | 25.48 | 52.36 | −51.3% |
| EPS (₹) | 9.27 | 19.04 | −51.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹2,582.61 crore, up from ₹2,425.14 crore at 31 March 2026. Total equity rose to ₹999.20 crore from ₹977.29 crore, while borrowings increased to ₹959.87 crore from ₹869.58 crore. Cash and cash equivalents were ₹52.08 crore, higher than ₹8.27 crore at the previous balance sheet date.
Inventories were ₹315.96 crore at 30 September 2026, against ₹318.67 crore at 31 March 2026. Trade receivables declined to ₹29.93 crore from ₹37.45 crore, while trade payables rose to ₹262.71 crore from ₹202.03 crore. For H1 FY27, operating cash flow was an outflow of ₹7.37 crore, compared with an inflow of ₹17.51 crore in H1 FY26; investing cash flow was an outflow of ₹0.18 crore against ₹102.71 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,583 | 2,425 |
| Total equity | 999.20 | 977.29 |
| Borrowings | 959.87 | 869.58 |
| Cash and equivalents | 52.08 | 8.27 |
| Inventories | 315.96 | 318.67 |
| Trade receivables | 29.93 | 37.45 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −7.37 | 17.51 |
| Cash from investing | −0.18 | −102.71 |
| Cash from financing | 51.37 | 62.52 |
| Capital expenditure | 79.90 | 138.62 |
Source: Company's results filing (XBRL).
How has Mangalam Cement done over the last 8 quarters?
Revenue has risen year on year in each of the last two quarters, according to the quarterly series. Across the reported period, revenue peaked at ₹502.90 crore in Q4 FY25 and was lowest at ₹394.88 crore in Q2 FY26; it ended Q2 FY27 at ₹433.36 crore, below ₹455.22 crore in Q1 FY27.
Net profit reached its highest point at ₹65.23 crore in Q4 FY26 and its lowest at ₹7.41 crore in Q2 FY27. The EBITDA margin also peaked at 16.6% in Q1 FY26 and fell to 9.4% in the latest quarter, down from 11.7% in Q1 FY27 and 10.8% in Q2 FY26.
How did Mangalam Cement shares react?
The filing was announced on 3 November 2026 and the stock was already trading. Five minutes after the filing appeared, the share price was down 2.0%. On the reaction day, it closed 1.8% below the previous close, and by the next day’s close it was down 0.6% from that pre-results close. The industry median rose 0.9% on the reaction day and 3.1% by the next day’s close, leaving Mangalam Cement 2.7 percentage points and 3.7 percentage points behind the sector, respectively.
Earlier results-day moves were mixed: the shares fell 3.4% on 8 August 2026 and 4.1% on 16 May 2026, rose 0.5% on 6 February 2026 and 1.5% on 8 August 2025, and also moved higher on 10 May 2025 and 14 November 2024. No five-session move is given for the latest filing.
| After the filing | Stock | Cement & Cement Products median |
|---|---|---|
| 5 minutes | −2.0% | |
| Reaction day | −1.8% | +0.9% |
| Next day | −0.6% | +3.1% |
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 |
|---|---|
| 8 August 2026 | −3.4% |
| 16 May 2026 | −4.1% |
| 6 February 2026 | +0.5% |
| 8 November 2025 | −2.9% |
| 8 August 2025 | +1.5% |
| 10 May 2025 | +3.7% |
| 6 February 2025 | +0.2% |
| 14 November 2024 | +1.0% |
Source: MarketPing price-reaction measurement.
How did other Cement & Cement Products companies do?
Eighteen other Cement & Cement Products companies that had filed for the quarter had a median revenue growth of 15.3%. Mangalam Cement’s revenue growth was lower than that of 11 peers and higher than that of 7 peers. Eight of the 18 peers reported higher profit.
| Mangalam Cement revenue growth (YoY) | +9.7% |
|---|---|
| Median of 18 other Cement & Cement Products companies | +15.3% |
| Companies with slower revenue growth than Mangalam Cement | 7 of 18 |
| Companies with faster revenue growth than Mangalam Cement | 11 of 18 |
| Companies whose net profit rose | 8 of 18 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Mangalam Cement's revenue in Q2 FY27?
Revenue from operations was ₹433.36 crore, up 9.7% from ₹394.88 crore in Q2 FY26 (standalone).
Did Mangalam Cement make a profit in Q2 FY27?
Yes. Net profit was ₹7.41 crore, against a net profit of ₹20.11 crore in Q2 FY26.
What was Mangalam Cement's EPS in Q2 FY27?
Basic earnings per share were ₹2.70, against ₹7.31 in Q2 FY26.
How did Mangalam Cement shares react to the Q2 FY27 results?
On the reaction day the stock moved −1.8% from the previous close; the median Cement & Cement Products stock moved +0.9%.
When did Mangalam Cement announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for To Consider And Approve The Unaudited Standalone Financial Results Of The Company For The Quarter And Half Year Ended On 30Th September, 2026. (BSE, 26 October 2026) · PDF
- Board Meeting Outcome for Unaudited Financial Results For The Qrt. And Half Year Ended 30.09.2026 (BSE, 3 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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