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MODISON Q2 FY27 results: net profit up 99.7% to ₹23.29 crore, revenue up 92.2%
MODISON LIMITED reported consolidated revenue of ₹279.03 crore and a net profit of ₹23.29 crore for Q2 FY27, compared with ₹145.16 crore and ₹11.66 crore in Q2 FY26. Against Q1 FY27, revenue rose 3.2%, while EBITDA fell 38.0% and net profit fell 31.2%.
Key points
- Consolidated revenue was ₹279.03 crore in Q2 FY27, up 92.2% from ₹145.16 crore in Q2 FY26.
- EBITDA was ₹31.08 crore, up 68.5% year on year, while the EBITDA margin fell 1.6 percentage points to 11.1%.
- Net profit was ₹23.29 crore versus ₹11.66 crore a year earlier, while basic EPS rose from ₹3.59 to ₹7.18.
- Against Q1 FY27, net profit fell from ₹33.84 crore to ₹23.29 crore and basic EPS fell from ₹10.43 to ₹7.18.
- For H1 FY27, revenue was ₹549.49 crore and net profit was ₹57.13 crore, up 96.7% and 246.9% respectively.
How did MODISON perform in Q2 FY27?
MODISON reported consolidated revenue of ₹279.03 crore for Q2 FY27, up ₹133.87 crore or 92.2% from ₹145.16 crore in Q2 FY26. Total income was ₹282.44 crore, up 94.3% from ₹145.39 crore. EBITDA rose 68.5% to ₹31.08 crore, although the EBITDA margin was 11.1%, down 1.6 percentage points from 12.7%.
Profit before tax increased 96.6% to ₹30.82 crore from ₹15.68 crore, and net profit rose 99.7% to ₹23.29 crore from ₹11.66 crore. Basic EPS was ₹7.18 against ₹3.59. Against Q1 FY27, revenue increased 3.2% to ₹279.03 crore from ₹270.47 crore, but EBITDA fell 38.0% to ₹31.08 crore and the margin declined 7.4 percentage points to 11.1%.
Net profit fell 31.2% to ₹23.29 crore in Q2 FY27 from ₹33.84 crore in Q1 FY27, while basic EPS declined from ₹10.43 to ₹7.18. The standalone basis reported revenue of ₹279.03 crore, a net profit of ₹23.32 crore and profit before tax of ₹30.82 crore for the quarter. The company’s board approved the unaudited standalone and consolidated results on 16 October 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 279.03 | 270.47 | 145.16 | +92.2% | +3.2% |
| Other income | 3.42 | 2.63 | 0.23 | +1387.0% | +30.0% |
| Total expenses | 255.23 | 226.99 | 130.74 | +95.2% | +12.4% |
| EBITDA | 31.08 | 50.09 | 18.45 | +68.5% | −38.0% |
| EBITDA margin | 11.1% | 18.5% | 12.7% | −1.6 pp | −7.4 pp |
| Profit before tax | 30.82 | 45.83 | 15.68 | +96.6% | −32.8% |
| Tax | 7.53 | 11.98 | 4.02 | +87.3% | −37.1% |
| Net profit | 23.29 | 33.84 | 11.66 | +99.7% | −31.2% |
| EPS (₹) | 7.18 | 10.43 | 3.59 | +100.0% | −31.2% |
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 MODISON's costs and profit?
Total expenses rose ₹124.49 crore or 95.2% year on year to ₹255.23 crore. Cost of materials was the largest expense at ₹266.64 crore, up ₹135.83 crore or 103.8% from ₹130.81 crore, while employee cost increased ₹0.42 crore to ₹6.91 crore. Finance costs rose ₹3.29 crore or 201.8% to ₹4.92 crore, other expenses increased ₹1.82 crore to ₹10.60 crore, and depreciation declined ₹0.04 crore to ₹2.36 crore.
Other income increased ₹3.19 crore to ₹3.42 crore from ₹0.23 crore in Q2 FY26. The quarter included an exceptional gain of ₹3.60 crore, compared with an exceptional gain of ₹1.03 crore a year earlier. Tax expense increased ₹3.51 crore or 87.3% to ₹7.53 crore from ₹4.02 crore. The filing states that the exceptional item for the quarter represented profit on hedging of silver in stock.
Compared with Q1 FY27, total expenses increased ₹28.24 crore or 12.4% to ₹255.23 crore, led by cost of materials, up ₹20.17 crore to ₹266.64 crore. Finance costs rose ₹0.61 crore to ₹4.92 crore and other expenses increased ₹1.76 crore to ₹10.60 crore, while employee cost rose ₹0.13 crore to ₹6.91 crore. Other income increased ₹0.79 crore to ₹3.42 crore, and the exceptional item moved from a ₹0.28 crore charge to a ₹3.60 crore gain. Tax expense fell ₹4.45 crore to ₹7.53 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 266.64 | 130.81 | +135.83 | +103.8% |
| Employee cost | 6.91 | 6.49 | +0.42 | +6.5% |
| Finance costs | 4.92 | 1.63 | +3.29 | +201.8% |
| Depreciation | 2.36 | 2.40 | −0.04 | −1.7% |
| Other expenses | 10.60 | 8.78 | +1.82 | +20.7% |
| Total expenses | 255.23 | 130.74 | +124.49 | +95.2% |
| Other income | 3.42 | 0.23 | +3.19 | +1387.0% |
| Tax | 7.53 | 4.02 | +3.51 | +87.3% |
| Exceptional items | +3.60 (gain) | +1.03 (gain) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue was ₹549.49 crore, up ₹270.19 crore or 96.7% from ₹279.30 crore in H1 FY26. Total income rose 96.4% to ₹555.55 crore from ₹282.85 crore, while profit before tax increased 246.8% to ₹76.65 crore from ₹22.10 crore.
Net profit for the first half rose 246.9% to ₹57.13 crore from ₹16.47 crore, and basic EPS increased 246.7% to ₹17.61 from ₹5.08. The period included an interim dividend of Rs.4/- per equity share, declared by the board on 16 October 2026, with 23 October 2026 fixed as the record date.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 549.49 | 279.30 | +96.7% |
| Profit before tax | 76.65 | 22.10 | +246.8% |
| Net profit | 57.13 | 16.47 | +246.9% |
| EPS (₹) | 17.61 | 5.08 | +246.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹602.37 crore, compared with ₹502.78 crore at 31 March 2026, and total equity was ₹322.12 crore against ₹274.66 crore. Borrowings increased to ₹222.49 crore from ₹174.47 crore, while cash was ₹0.21 crore compared with ₹0.14 crore. Inventories rose to ₹308.08 crore from ₹219.80 crore, trade receivables to ₹180.75 crore from ₹159.97 crore, and trade payables fell to ₹10.67 crore from ₹15.58 crore.
H1 FY27 operating cash flow was negative ₹27.19 crore, compared with positive ₹5.71 crore in H1 FY26. Investing cash flow was negative ₹3.03 crore against negative ₹8.55 crore, while financing cash flow was positive ₹30.30 crore against positive ₹2.86 crore. Capital expenditure was ₹6.88 crore in H1 FY27, compared with ₹6.35 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 602.37 | 502.78 |
| Total equity | 322.12 | 274.66 |
| Borrowings | 222.49 | 174.47 |
| Cash and equivalents | 0.21 | 0.14 |
| Inventories | 308.08 | 219.80 |
| Trade receivables | 180.75 | 159.97 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −27.19 | 5.71 |
| Cash from investing | −3.03 | −8.55 |
| Cash from financing | 30.30 | 2.86 |
| Capital expenditure | 6.88 | 6.35 |
Source: Company's results filing (XBRL).
How has MODISON done over the last 8 quarters?
Revenue and profit both rose year on year in each of the last eight quarters. Revenue reached ₹287.32 crore in Q4 FY26, its peak in the reported series, before easing to ₹270.47 crore in Q1 FY27 and rising to ₹279.03 crore in Q2 FY27. Profit peaked at ₹36.00 crore in Q4 FY26, fell to ₹33.84 crore in Q1 FY27, and eased further to ₹23.29 crore in Q2 FY27.
The EBITDA margin reached 24.8% in Q4 FY26, its highest point in the series, and bottomed at 6.4% in Q1 FY26. It subsequently eased from 18.5% in Q1 FY27 to 11.1% in Q2 FY27. Revenue, profit and margin therefore moved lower from the peaks recorded in Q4 FY26, although revenue increased again in the latest quarter.
How did MODISON shares react?
After the filing appeared in the market, MODISON’s shares were down 7.1% at each of the 5-minute, 15-minute and 30-minute marks. From the previous close of ₹525.0, the stock ended the first session that could trade on the results down 4.9%. By the next day’s close, it was down 9.7% from its pre-results close, and by the fifth session it was down 27.1%.
The Nifty Microcap 250 rose 0.7% on the reaction day, fell 1.0% by the next day’s close and was down 6.4% after five sessions. MODISON therefore moved more than the market benchmark over each reported interval, but no industry median or sector-relative reaction was available for comparison. Earlier results-day moves included rises of 19.0% on 22 May 2026 and 4.6% on 13 August 2026, and a fall of 1.2% on 14 November 2025.
| After the filing | Stock |
|---|---|
| 5 minutes | −7.1% |
| 15 minutes | −7.1% |
| 30 minutes | −7.1% |
| Reaction day | −4.9% |
| Next day | −9.7% |
| 5 days | −27.1% |
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 |
|---|---|
| 13 August 2026 | +4.6% |
| 22 May 2026 | +19.0% |
| 2 February 2026 | +2.8% |
| 14 November 2025 | −1.2% |
| 14 August 2025 | +1.6% |
| 27 May 2025 | +6.7% |
| 13 February 2025 | −3.3% |
| 13 November 2024 | +5.4% |
Source: MarketPing price-reaction measurement.
Quick answers
What was MODISON's revenue in Q2 FY27?
Revenue from operations was ₹279.03 crore, up 92.2% from ₹145.16 crore in Q2 FY26 (consolidated).
Did MODISON make a profit in Q2 FY27?
Yes. Net profit was ₹23.29 crore, against a net profit of ₹11.66 crore in Q2 FY26.
What was MODISON's EPS in Q2 FY27?
Basic earnings per share were ₹7.18, against ₹3.59 in Q2 FY26.
How did MODISON shares react to the Q2 FY27 results?
On the reaction day the stock moved −4.9% from the previous close.
When did MODISON announce its Q2 FY27 results?
On 16 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for To Consider And Approve The Unaudited Financial Results (Standalone And Consolidated) Of The Company For The Quarter And Half Year Ended September 30, 2026 And To Consider The Recommendation Of Dividend, If Any (BSE, 9 October 2026) · PDF
- Board Meeting Outcome for OUTCOME OF BOARD MEETING (BSE, 16 October 2026) · PDF
- Corporate Action-Board approves Dividend (BSE, 16 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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