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Modis Navnirman Q2 FY27 results: net profit ₹10.46 crore
Modis Navnirman Limited reported consolidated Q2 FY27 revenue of ₹69.38 crore, EBITDA of ₹14.39 crore and a net profit of ₹10.46 crore. Revenue rose 19.1% from Q1 FY27, while EBITDA margin increased 1.5 percentage points to 20.7% and basic EPS rose to ₹5.34.
Key points
- Consolidated revenue was ₹69.38 crore in Q2 FY27, up 19.1% from ₹58.26 crore in Q1 FY27.
- EBITDA rose to ₹14.39 crore from ₹11.16 crore in Q1 FY27, while margin increased from 19.2% to 20.7%.
- Net profit was ₹10.46 crore, up from ₹8.58 crore in Q1 FY27, and basic EPS rose from ₹4.36 to ₹5.34.
- Total assets increased to ₹448.09 crore from ₹304.94 crore, while borrowings rose to ₹24.00 crore from ₹5.62 crore.
- The stock was up 4.4% on the reaction day from its pre-results close, against a 0.1% median move for the industry.
How did Modis Navnirman perform in Q2 FY27?
Modis Navnirman reported consolidated revenue of ₹69.38 crore in Q2 FY27, up 19.1% from ₹58.26 crore in Q1 FY27. Total income rose to ₹69.54 crore from ₹58.75 crore, while total expenses increased to ₹56.28 crore from ₹47.23 crore. There was no exceptional item, and profit before tax was ₹13.26 crore against ₹11.52 crore in the previous quarter.
EBITDA increased to ₹14.39 crore from ₹11.16 crore in Q1 FY27, and EBITDA margin rose to 20.7% from 19.2%. Net profit increased to ₹10.46 crore from ₹8.58 crore, while the net profit margin rose to 15.1% from 14.7%. Basic EPS was ₹5.34, up from ₹4.36 in the previous quarter.
On the standalone basis, Q2 FY27 revenue was ₹69.38 crore, down 16.8%, and profit after tax was ₹10.45 crore. The filing did not provide a standalone year-ago comparison for profit after tax. Consolidated H1 FY27 revenue was ₹127.64 crore, total income was ₹128.30 crore, profit before tax was ₹24.78 crore, net profit was ₹19.04 crore and basic EPS was ₹9.72.
| ₹ crore | Q2 FY27 | Q1 FY27 | QoQ |
|---|---|---|---|
| Revenue from operations | 69.38 | 58.26 | +19.1% |
| Other income | 0.16 | 0.49 | −67.3% |
| Total expenses | 56.28 | 47.23 | +19.2% |
| EBITDA | 14.39 | 11.16 | +28.9% |
| EBITDA margin | 20.7% | 19.2% | +1.5 pp |
| Profit before tax | 13.26 | 11.52 | +15.1% |
| Tax | 2.80 | 2.94 | −4.8% |
| Net profit | 10.46 | 8.58 | +21.9% |
| EPS (₹) | 5.34 | 4.36 | +22.5% |
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 do the balance sheet and cash flow show?
Total assets increased to ₹448.09 crore as on 30 September 2026 from ₹304.94 crore as on 31 March 2026, while total equity rose to ₹175.74 crore from ₹156.66 crore. Borrowings were ₹24.00 crore compared with ₹5.62 crore, and cash and cash equivalents stood at ₹4.56 crore against ₹1.47 crore.
Inventories declined to ₹145.40 crore from ₹146.42 crore, while trade receivables increased to ₹15.63 crore from ₹8.80 crore and trade payables rose to ₹64.39 crore from ₹48.33 crore. In the first half of FY27, operating cash flow was negative ₹16.51 crore, investing cash flow was ₹1.06 crore and financing cash flow was ₹17.09 crore. Capital expenditure was ₹0.28 crore. A year-earlier cash-flow comparison was not provided.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 448.09 | 304.94 |
| Total equity | 175.74 | 156.66 |
| Borrowings | 24 | 5.62 |
| Cash and equivalents | 4.56 | 1.47 |
| Inventories | 145.40 | 146.42 |
| Trade receivables | 15.63 | 8.80 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 |
|---|---|
| Cash from operations | −16.51 |
| Cash from investing | 1.06 |
| Cash from financing | 17.09 |
| Capital expenditure | 0.28 |
Source: Company's results filing (XBRL).
How has Modis Navnirman done over the last 6 quarters?
Revenue moved higher from ₹32.53 crore in Q4 FY24 to ₹69.38 crore in Q2 FY27, the highest point in the reported series. It rose from ₹58.26 crore in Q1 FY27, with Q1 also marking a sharp increase from ₹51.49 crore in Q4 FY26.
Reported profit after tax was ₹10.46 crore in Q2 FY27, up from ₹8.58 crore in Q1 FY27 and ₹4.41 crore in Q4 FY26. EBITDA margin also moved higher, reaching 20.7% in Q2 FY27 after 19.2% in Q1 FY27 and 9.3% in Q4 FY26. The lowest margin in the series was 14.3% in Q2 FY25, while the highest was 20.7% in Q2 FY27.
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results for the quarter ended 30 September 2026, following a recommendation from the audit committee. The statutory auditors issued a limited review report on the standalone results. The same-day investor presentation reported H1 FY27 revenue of ₹127.64 crore and an EBITDA margin of 20.5%.
The same-day filings did not announce a dividend, fund raise or appointment. The trading window for dealing in the company’s securities remained closed until 48 hours after the results declaration, according to the board filing.
What did Modis Navnirman's management say?
Management said it is not pursuing growth simply for scale and described the project pipeline as debt-free and self-funded. CFO Mahek Modi said revenue visibility was not a guarantee of timing, with recognition dependent on project progress, accounting requirements and fulfilment of relevant conditions. He also said, “Probably next in FY27, we'll be cash flow positive. FY28, sorry.”
How did Modis Navnirman shares react?
The shares were down 0.4% after 5 minutes, down 1.3% after 15 minutes and up 3.0% after 30 minutes following the after-market filing. From the pre-results close of ₹378.90, the stock ended the reaction day up 4.4%. The industry median moved 0.1%, leaving Modis Navnirman ahead by 4.3 percentage points on the reaction day.
Earlier reaction-day moves were negative 4.4% on 7 August 2026, negative 0.7% on 15 May 2026 and positive 1.1% on 13 February 2026. The industry median was 0.1% on the reaction day, while the nearest market benchmark moved 0.4%.
| After the filing | Stock | Residential Commercial Projects median |
|---|---|---|
| 5 minutes | −0.4% | |
| 15 minutes | −1.3% | |
| 30 minutes | +3.0% | |
| Reaction day | +4.4% | +0.1% |
| Next day | +1.8% | +1.9% |
| 5 days | +4.0% | +2.4% |
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 |
|---|---|
| 7 August 2026 | −4.4% |
| 15 May 2026 | −0.7% |
| 13 February 2026 | +1.1% |
Source: MarketPing price-reaction measurement.
How did other Residential Commercial Projects companies do?
Thirty-six other Residential Commercial Projects companies had filed for the quarter, and their median revenue growth was 22.4%. Of these peers, 21 reported higher profit, while the data did not provide the number that grew slower than Modis Navnirman or the number that grew faster than the company.
| Modis Navnirman revenue growth (YoY) | not comparable |
|---|---|
| Median of 36 other Residential Commercial Projects companies | +22.4% |
| Companies whose net profit rose | 21 of 36 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Modis Navnirman's revenue in Q2 FY27?
Revenue from operations was ₹69.38 crore (consolidated).
Did Modis Navnirman make a profit in Q2 FY27?
Yes. Net profit was ₹10.46 crore.
What was Modis Navnirman's EPS in Q2 FY27?
Basic earnings per share were ₹5.34.
How did Modis Navnirman shares react to the Q2 FY27 results?
On the reaction day the stock moved +4.4% from the previous close; the median Residential Commercial Projects stock moved +0.1%.
When did Modis Navnirman announce its Q2 FY27 results?
On 24 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of Unaudited (Standalone And Consolidated) Financial Results For The Quarter And Half-Year Ended On 30Th September 2026 (BSE, 21 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Meeting Of Board Of Directors Held On October 24Th, 2026 (BSE, 24 October 2026) · PDF
- Un-Audited Standalone And Consolidated Financial Results For The Quarter Ended September 30, 2026, (BSE, 24 October 2026) · PDF
- The earnings call (29 October 2026)
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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