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Modern Steels Q2 FY27 results: net profit ₹0.36 crore vs ₹0.08 crore
Modern Steels Ltd reported standalone Q2 FY27 net profit of ₹0.36 crore, up from ₹0.08 crore in Q2 FY26 and unchanged from Q1 FY27. Total income was ₹0.63 crore, while the company continues to have no manufacturing operations and earns commission income from certain activities.
Key points
- Q2 FY27 net profit was ₹0.36 crore, against ₹0.08 crore in Q2 FY26 and ₹0.36 crore in Q1 FY27.
- Total income rose to ₹0.63 crore from ₹0.31 crore in Q2 FY26 and ₹0.58 crore in Q1 FY27.
- Basic EPS was ₹0.26, compared with ₹0.06 in Q2 FY26 and ₹0.26 in Q1 FY27.
- H1 FY27 profit was ₹0.72 crore, against ₹0.31 crore in H1 FY26; basic EPS was ₹0.52.
- Total assets were ₹20.38 crore and total equity ₹19.61 crore as of 30 September 2026.
How did Modern Steels perform in Q2 FY27?
Modern Steels reported standalone total income of ₹0.63 crore in Q2 FY27, against ₹0.31 crore in Q2 FY26 and ₹0.58 crore in Q1 FY27. Revenue was unchanged at ₹0 crore. The company said it has no manufacturing operations after selling its assets under slump sale at Mandi Gobindgarh and has received commission income from certain activities.
Standalone net profit was ₹0.36 crore in Q2 FY27, up from ₹0.08 crore in Q2 FY26 and unchanged from Q1 FY27. Basic EPS was ₹0.26, compared with ₹0.06 in Q2 FY26 and ₹0.26 in Q1 FY27. EBITDA was ₹0.27 crore, with no EBITDA margin reported; profit before tax was ₹0.36 crore and tax was unchanged at ₹0 crore. The results are on a standalone basis; the filing did not provide a consolidated comparison.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0 | 0 | 0 | ||
| Other income | 0.63 | 0.58 | 0.31 | +103.2% | +8.6% |
| Total expenses | 0.27 | 0.22 | 0.23 | +17.4% | +22.7% |
| EBITDA | −0.27 | −0.22 | −0.23 | ||
| Profit before tax | 0.36 | 0.36 | 0.08 | +350.0% | +0.0% |
| Tax | 0 | 0 | 0 | ||
| Net profit | 0.36 | 0.36 | 0.08 | +350.0% | +0.0% |
| EPS (₹) | 0.26 | 0.26 | 0.06 | +333.3% | +0.0% |
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 Modern Steels' costs and profit?
Total expenses rose to ₹0.27 crore in Q2 FY27 from ₹0.23 crore in Q2 FY26 and ₹0.22 crore in Q1 FY27. Employee benefits expense was unchanged year on year at ₹0.10 crore but rose from ₹0.09 crore in the previous quarter. Other expenditure increased to ₹0.17 crore from ₹0.13 crore in both comparison periods.
Other income was the main reported contributor, rising to ₹0.63 crore from ₹0.31 crore in Q2 FY26 and ₹0.58 crore in Q1 FY27. Despite the increase in other income, EBITDA was ₹0.27 crore in Q2 FY27, against ₹0.23 crore in Q2 FY26 and ₹0.22 crore in Q1 FY27. There was no exceptional item, and tax was unchanged at ₹0 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.10 | 0.10 | 0 | +0.0% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.17 | 0.13 | +0.04 | +30.8% |
| Total expenses | 0.27 | 0.23 | +0.04 | +17.4% |
| Other income | 0.63 | 0.31 | +0.32 | +103.2% |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Modern Steels reported total income of ₹1.21 crore, up from ₹0.78 crore in H1 FY26, with revenue unchanged at ₹0 crore. Profit before tax and net profit were each ₹0.72 crore, compared with ₹0.31 crore in H1 FY26. Basic EPS rose to ₹0.52 from ₹0.22.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0 | 0 | |
| Profit before tax | 0.72 | 0.31 | +132.3% |
| Net profit | 0.72 | 0.31 | +132.3% |
| EPS (₹) | 0.52 | 0.22 | +136.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹20.38 crore, compared with ₹19.87 crore as of 31 March 2026. Total equity was ₹19.61 crore against ₹18.89 crore, while borrowings were unchanged at ₹0.21 crore. Cash and bank balances rose to ₹0.36 crore from ₹0.06 crore, and trade receivables increased to ₹0.37 crore from ₹0.33 crore.
For H1 FY27, net cash used in operating activities was ₹0.27 crore, compared with ₹0.34 crore in H1 FY26. Net cash from investing activities was ₹0.57 crore against ₹0.42 crore, while financing cash flow was unchanged at ₹0 crore. The filing showed closing cash and cash equivalents of ₹0.36 crore at 30 September 2026.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 20.38 | 19.87 |
| Total equity | 19.61 | 18.89 |
| Borrowings | 0.21 | 0.21 |
| Cash and equivalents | 0.36 | 0.06 |
| Inventories | 0 | 0 |
| Trade receivables | 0.37 | 0.33 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −0.27 | −0.34 |
| Cash from investing | 0.57 | 0.42 |
| Cash from financing | 0 | 0 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Modern Steels done over the last 8 quarters?
Profit increased in each of the last two quarters on a year-on-year basis. Q4 FY25 recorded the highest net profit in the period shown at ₹4.53 crore, while Q3 FY25 was the lowest at a net loss of ₹0.02 crore. The latest result was ₹0.36 crore, unchanged from Q1 FY27 and higher than Q2 FY26's ₹0.08 crore.
Revenue was ₹0 crore in each quarter shown, and EBITDA margins were not reported. The latest profit therefore reflects the income and expense pattern disclosed in the filings rather than reported operating revenue. The trend data shows profit moving from ₹0.66 crore in Q4 FY26 to ₹0.36 crore in each of the latest two quarters.
How did Modern Steels shares react?
Following the filing after market hours, Modern Steels’ stock fell 2.5% on the reaction day from the prior close of ₹13.76. By the next day's close, it was down 11.3% from that pre-results close, and by the fifth session it was down 9.2%. The Iron & Steel Products sector median fell 2.3% on the reaction day, 4.1% by the next day and 4.4% by five days.
| After the filing | Stock | Iron & Steel Products median |
|---|---|---|
| Reaction day | −2.5% | −2.3% |
| Next day | −11.3% | −4.1% |
| 5 days | −9.2% | −4.4% |
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 | +3.6% |
| 22 May 2026 | +1.0% |
| 14 February 2026 | −3.6% |
| 10 November 2025 | −0.6% |
| 11 August 2025 | +2.8% |
| 27 May 2025 | +1.4% |
| 10 August 2024 | −0.6% |
| 18 May 2024 | +2.2% |
Source: MarketPing price-reaction measurement.
How did other Iron & Steel Products companies do?
Among the 29 other Iron & Steel Products companies compared for this quarter, the median revenue growth was 23.9%. The peer data records 22 companies with profit up out of 33 peers with profit comparisons available. The peer summary does not provide counts of companies growing slower or faster than Modern Steels, so those figures cannot be stated.
| Modern Steels revenue growth (YoY) | not comparable |
|---|---|
| Median of 29 other Iron & Steel Products companies | +23.9% |
| Companies whose net profit rose | 22 of 33 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Modern Steels' revenue in Q2 FY27?
Revenue from operations was ₹0 crore, against ₹0 crore in Q2 FY26 (standalone).
Did Modern Steels make a profit in Q2 FY27?
Yes. Net profit was ₹0.36 crore, against a net profit of ₹0.08 crore in Q2 FY26.
What was Modern Steels' EPS in Q2 FY27?
Basic earnings per share were ₹0.26, against ₹0.06 in Q2 FY26.
How did Modern Steels shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.5% from the previous close; the median Iron & Steel Products stock moved −2.3%.
When did Modern Steels announce its Q2 FY27 results?
On 19 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of Un-Audited Financial Results For The Quarter Ended On 30 September, 2026 (BSE, 12 October 2026) · PDF
- Board Meeting Outcome for Un-Audited Financial Results For The Quarter And Half Year Ended On 30Th September, 2026 (BSE, 19 October 2026) · PDF
- Considered And Approval Of Un-Audited Financial Results For The Quarter And Half Year Ended On 30Th September, 2026 (BSE, 19 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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