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Meenakshi Steel Industries Q2 FY27 results: net profit down 79.7% to ₹0.12 crore, revenue flat
Meenakshi Steel Industries Ltd reported consolidated revenue of ₹4.81 crore in Q2 FY27, unchanged from a year ago but up 1.9% from Q1 FY27. The company reported a net profit of ₹0.12 crore and basic EPS of ₹0.58, with the EBITDA margin at 97.5%.
Key points
- Consolidated revenue was ₹4.81 crore in Q2 FY27, unchanged from Q2 FY26 and up 1.9% from Q1 FY27.
- EBITDA was ₹4.69 crore, with a 97.5% margin, compared with ₹4.68 crore and a 97.3% margin in Q2 FY26.
- Net profit was ₹0.12 crore in Q2 FY27, down from ₹0.59 crore in Q2 FY26 and ₹0.27 crore in Q1 FY27.
- Basic EPS was ₹0.58 in Q2 FY27, down from ₹1.36 in Q1 FY27; the company had no exceptional item in the quarter.
- For H1 FY27, revenue was ₹9.53 crore and net profit was ₹0.39 crore, compared with ₹8.77 crore and ₹1.13 crore in H1 FY26.
How did Meenakshi Steel Industries perform in Q2 FY27?
Meenakshi Steel Industries reported consolidated revenue of ₹4.81 crore for Q2 FY27, unchanged from Q2 FY26 and up 1.9% from ₹4.72 crore in Q1 FY27. EBITDA was ₹4.69 crore, with a margin of 97.5%, compared with ₹4.68 crore and 97.3% a year ago and ₹4.64 crore and 98.3% in the previous quarter.
Profit was lower on both comparisons. Consolidated net profit was ₹0.12 crore in Q2 FY27, against ₹0.59 crore in Q2 FY26 and ₹0.27 crore in Q1 FY27. Basic EPS was ₹0.58, compared with ₹1.36 in Q1 FY27. On a standalone basis, revenue was ₹4.81 crore and net profit was ₹0.08 crore, with profit before tax of ₹0.59 crore.
The filing said the un-audited standalone and consolidated results for the quarter and half year ended 30 September 2026 were reviewed by the Audit Committee and approved by the Board on 4 November 2026. The statutory auditor also issued a limited review report on the results.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 4.81 | 4.72 | 4.81 | +0.0% | +1.9% |
| Other income | −0.01 | 0.06 | 0.01 | ||
| Total expenses | 4.66 | 4.47 | 4.01 | +16.2% | +4.3% |
| EBITDA | 4.69 | 4.64 | 4.68 | +0.2% | +1.1% |
| EBITDA margin | 97.5% | 98.3% | 97.3% | +0.2 pp | −0.8 pp |
| Profit before tax | 0.14 | 0.32 | 0.81 | −82.7% | −56.2% |
| Tax | 0.06 | 0.07 | 0.22 | −72.7% | −14.3% |
| Net profit | 0.12 | 0.27 | 0.59 | −79.7% | −55.6% |
| EPS (₹) | 0.58 | 1.36 | −57.4% |
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 Meenakshi Steel Industries' costs and profit?
Total expenses rose to ₹4.66 crore in Q2 FY27 from ₹4.01 crore in Q2 FY26, an increase of ₹0.65 crore or 16.2%. Finance costs were the main reported change, rising by ₹0.66 crore or 17.0% to ₹4.54 crore from ₹3.88 crore. Other expenses fell by ₹0.01 crore or 12.5% to ₹0.07 crore, while employee cost was unchanged at ₹0.05 crore.
Other income declined by ₹0.02 crore from ₹0.01 crore in Q2 FY26 to negative ₹0.01 crore in Q2 FY27. There was no exceptional item in either quarter. Tax fell by ₹0.16 crore or 72.7% to ₹0.06 crore from ₹0.22 crore, but profit before tax fell by ₹0.67 crore or 82.7% to ₹0.14 crore from ₹0.81 crore. The figures show lower profit despite the lower tax expense; the filing does not provide a further explanation for the movement.
Against Q1 FY27, total expenses rose by ₹0.19 crore or 4.3% to ₹4.66 crore. Finance costs increased by ₹0.15 crore or 3.4% to ₹4.54 crore and other expenses rose by ₹0.04 crore or 133.3% to ₹0.07 crore, while other income fell by ₹0.07 crore. PBT declined by ₹0.18 crore or 56.2% to ₹0.14 crore, and net profit declined by ₹0.15 crore or 55.6% to ₹0.12 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.05 | 0.05 | 0 | +0.0% |
| Finance costs | 4.54 | 3.88 | +0.66 | +17.0% |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.07 | 0.08 | −0.01 | −12.5% |
| Total expenses | 4.66 | 4.01 | +0.65 | +16.2% |
| Other income | −0.01 | 0.01 | −0.02 | |
| Tax | 0.06 | 0.22 | −0.16 | −72.7% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue rose to ₹9.53 crore from ₹8.77 crore in H1 FY26, an increase of ₹0.76 crore or 8.7%. Total income rose by ₹0.75 crore or 8.5% to ₹9.58 crore from ₹8.83 crore.
Profit moved lower despite the higher revenue. PBT fell to ₹0.45 crore from ₹1.57 crore, a decline of ₹1.12 crore or 71.3%, while net profit fell to ₹0.39 crore from ₹1.13 crore, a decline of ₹0.74 crore or 65.5%. H1 FY27 basic EPS was ₹1.94.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 9.53 | 8.77 | +8.7% |
| Profit before tax | 0.45 | 1.57 | −71.3% |
| Net profit | 0.39 | 1.13 | −65.5% |
| EPS (₹) | 1.94 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹335.29 crore as at 30 September 2026 from ₹320.46 crore as at 31 March 2026. Total equity increased to ₹147.21 crore from ₹144.86 crore, while cash and cash equivalents fell to ₹0.91 crore from ₹7.67 crore. Borrowings were not reported in the consolidated balance-sheet data.
For H1 FY27, operating cash flow was negative ₹0.05 crore, compared with ₹0.86 crore in H1 FY26. Investing cash flow was negative ₹1.25 crore against negative ₹8.09 crore, while financing cash flow was negative ₹5.46 crore against positive ₹18.74 crore a year earlier. The company’s primary business is finance and investment, and the filing states that it has no separate reportable operating segment.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 335.29 | 320.46 |
| Total equity | 147.21 | 144.86 |
| Cash and equivalents | 0.91 | 7.67 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −0.05 | 0.86 |
| Cash from investing | −1.25 | −8.09 |
| Cash from financing | −5.46 | 18.74 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Meenakshi Steel Industries done over the last 8 quarters?
Revenue reached its highest level in the reported series at ₹5.8 crore in Q3 FY26 and its lowest at ₹3.21 crore in Q4 FY25. It was ₹4.81 crore in Q2 FY27, following ₹4.72 crore in Q1 FY27, showing a modest rise in the latest quarter.
Net profit peaked at ₹1.18 crore in Q3 FY25 and bottomed at a loss of ₹0.49 crore in Q4 FY26. It improved to ₹0.27 crore in Q1 FY27 before falling to ₹0.12 crore in Q2 FY27. The EBITDA margin was 99.4% in Q4 FY26 and 97.5% in Q2 FY27.
How did other Iron & Steel Products companies do?
Thirty-six other Iron & Steel Products companies filed results for the quarter as at 5 November 2026, compared with Meenakshi Steel Industries’ 39 peers with profit data and 25 peers with profit up. The peer median revenue growth was 18.4%.
Meenakshi Steel Industries had 28 peers growing faster than the company and 7 growing slower than the company. The company’s consolidated revenue was unchanged from Q2 FY26, while 25 of the peers with profit data reported higher profit.
| Meenakshi Steel Industries revenue growth (YoY) | +0.0% |
|---|---|
| Median of 36 other Iron & Steel Products companies | +18.4% |
| Companies with slower revenue growth than Meenakshi Steel Industries | 7 of 36 |
| Companies with faster revenue growth than Meenakshi Steel Industries | 28 of 36 |
| Companies whose net profit rose | 25 of 39 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Meenakshi Steel Industries' revenue in Q2 FY27?
Revenue from operations was ₹4.81 crore, down 0.0% from ₹4.81 crore in Q2 FY26 (consolidated).
Did Meenakshi Steel Industries make a profit in Q2 FY27?
Yes. Net profit was ₹0.12 crore, against a net profit of ₹0.59 crore in Q2 FY26.
What was Meenakshi Steel Industries' EPS in Q2 FY27?
Basic earnings per share were ₹0.58.
When did Meenakshi Steel Industries announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of Board Meeting For Approval Of Un-Audited Financial Results For The Half Year And Quarter Ended 30.09.2026 (BSE, 23 October 2026) · PDF
- Un-Audited Financial Results (Standalone And Consolidated) For The Quarter And Half Year Ended 30.09.2026 (BSE, 4 November 2026) · PDF
- Board Meeting Outcome for Un-Audited Financial Results (Standalone And Consolidated) For Quarter And Half Year Ended 30.09.2026 (BSE, 4 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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