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Multibase India Q2 FY27 results: net profit up 29.4% to ₹3.70 crore, revenue up 39.6%
Multibase India Ltd reported standalone Q2 FY27 revenue of ₹25.87 crore, up 39.6% from Q2 FY26, while profit after tax rose to ₹3.70 crore and basic EPS to ₹2.94. EBITDA increased to ₹4.49 crore, although the EBITDA margin declined to 17.3% from 18.2%. The results for the September 2026 quarter were approved by the board on 4 November 2026.
Key points
- Standalone Q2 FY27 revenue was ₹25.87 crore, up 39.6% from ₹18.53 crore in Q2 FY26 and 23.4% from ₹20.96 crore in Q1 FY27.
- EBITDA was ₹4.49 crore in Q2 FY27, up 33.2% year on year and 21.0% sequentially, while the margin was 17.3%.
- Net profit after tax was ₹3.70 crore, up 29.4% from ₹2.86 crore a year earlier and 10.1% from ₹3.36 crore in the previous quarter.
- Basic EPS was ₹2.94, compared with ₹2.27 in Q2 FY26 and ₹2.66 in Q1 FY27.
- H1 FY27 revenue was ₹46.83 crore and net profit after tax was ₹7.06 crore, with basic EPS of ₹5.60.
How did Multibase India perform in Q2 FY27?
Multibase India’s standalone revenue from operations was ₹25.87 crore in Q2 FY27, compared with ₹18.53 crore in Q2 FY26 and ₹20.96 crore in Q1 FY27. EBITDA was ₹4.49 crore, with a margin of 17.3%, against ₹3.37 crore and 18.2% a year earlier and ₹3.71 crore and 17.7% in the preceding quarter.
Profit before tax was ₹5.13 crore in Q2 FY27, compared with ₹3.86 crore in Q2 FY26 and ₹4.36 crore in Q1 FY27. Net profit after tax was ₹3.70 crore, while basic EPS was ₹2.94, compared with ₹2.86 crore and ₹2.27 in the year-ago quarter and ₹3.36 crore and ₹2.66 in the previous quarter.
The filing contains only standalone results and states that Multibase India has no subsidiary, associate, or joint venture. The company operates a single reportable segment comprising the manufacture and sale of Thermoplastic Elastomers and Silicon-based products. The results were reviewed by the statutory auditors and approved by the board on 4 November 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 25.87 | 20.96 | 18.53 | +39.6% | +23.4% |
| Other income | 0.95 | 0.95 | 0.77 | +23.4% | +0.0% |
| Total expenses | 21.69 | 17.55 | 15.44 | +40.5% | +23.6% |
| EBITDA | 4.49 | 3.71 | 3.37 | +33.2% | +21.0% |
| EBITDA margin | 17.3% | 17.7% | 18.2% | −0.9 pp | −0.4 pp |
| Profit before tax | 5.13 | 4.36 | 3.86 | +32.9% | +17.7% |
| Tax | 1.43 | 1.01 | 1 | +43.0% | +41.6% |
| Net profit | 3.70 | 3.36 | 2.86 | +29.4% | +10.1% |
| EPS (₹) | 2.94 | 2.66 | 2.27 | +29.5% | +10.5% |
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 changed in Multibase India's costs and profit?
Total expenses rose to ₹21.69 crore in Q2 FY27 from ₹15.44 crore in Q2 FY26, an increase of ₹6.25 crore. Cost of materials consumed increased by ₹9.27 crore to ₹15.64 crore, employee cost rose by ₹0.12 crore to ₹1.34 crore, and other expenses increased by ₹0.54 crore to ₹2.25 crore. Depreciation was ₹0.30 crore, while finance costs remained unchanged at ₹0 crore.
Other income increased by ₹0.18 crore to ₹0.95 crore from ₹0.77 crore in Q2 FY26. There was no exceptional item in either quarter. Tax expense rose by ₹0.43 crore to ₹1.43 crore from ₹1 crore, while profit before tax increased by ₹1.27 crore to ₹5.13 crore.
Against Q1 FY27, total expenses were ₹4.14 crore higher, mainly reflecting a ₹1.79 crore increase in cost of materials and a ₹0.33 crore increase in other expenses. Employee cost, depreciation, other income and finance costs were unchanged, tax expense rose by ₹0.42 crore, and there was no exceptional item. The filing does not state why the cost changes occurred.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 15.64 | 6.37 | +9.27 | +145.5% |
| Employee cost | 1.34 | 1.22 | +0.12 | +9.8% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0.30 | 0.28 | +0.02 | +7.1% |
| Other expenses | 2.25 | 1.71 | +0.54 | +31.6% |
| Total expenses | 21.69 | 15.44 | +6.25 | +40.5% |
| Other income | 0.95 | 0.77 | +0.18 | +23.4% |
| Tax | 1.43 | 1 | +0.43 | +43.0% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue was ₹46.83 crore, up 32.7% from ₹35.28 crore in H1 FY26. Total income rose 32.0% to ₹48.73 crore from ₹36.93 crore, while profit before tax increased 36.9% to ₹9.5 crore from ₹6.94 crore.
Net profit after tax for the first half was ₹7.06 crore, compared with ₹5.16 crore in H1 FY26, an increase of 36.8%. Basic EPS rose 36.9% to ₹5.60 from ₹4.09. The filing notes that quarterly and year-to-date EPS figures are not annualised.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 46.83 | 35.28 | +32.7% |
| Profit before tax | 9.50 | 6.94 | +36.9% |
| Net profit | 7.06 | 5.16 | +36.8% |
| EPS (₹) | 5.60 | 4.09 | +36.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹119.03 crore, compared with ₹103.35 crore at 31 March 2026. Total equity was ₹95.98 crore against ₹88.92 crore, cash was ₹62.62 crore against ₹62.12 crore, and the company reported no borrowings at either date.
Inventories increased to ₹22.47 crore from ₹11.03 crore at 31 March 2026. Trade receivables rose to ₹15.21 crore from ₹13.53 crore, while trade payables increased to ₹17.19 crore from ₹8.11 crore. The company’s balance sheet as of 30 September 2026 includes cash of ₹62.62 crore and no borrowings.
H1 FY27 operating cash flow was ₹1.01 crore, compared with ₹5.75 crore in H1 FY26. Investing cash flow was negative ₹0.51 crore against negative ₹0.03 crore, while financing cash flow was unchanged at ₹0 crore. Capital expenditure was ₹1.8 crore, compared with ₹1.38 crore in the year-ago period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 119.03 | 103.35 |
| Total equity | 95.98 | 88.92 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 62.62 | 62.12 |
| Inventories | 22.47 | 11.03 |
| Trade receivables | 15.21 | 13.53 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 1.01 | 5.75 |
| Cash from investing | −0.51 | −0.03 |
| Cash from financing | 0 | 0 |
| Capital expenditure | 1.80 | 1.38 |
Source: Company's results filing (XBRL).
How has Multibase India done over the last 8 quarters?
Revenue reached ₹25.87 crore in Q2 FY27, the highest level in the reported quarterly series, after ₹20.96 crore in Q1 FY27. The lowest point was ₹13.53 crore in Q3 FY26. Revenue has risen year on year in each of the last three quarters, according to the reported streak.
Net profit after tax was ₹3.70 crore in Q2 FY27, compared with ₹3.36 crore in Q1 FY27 and ₹1.99 crore in Q4 FY26. The quarterly profit low was ₹1.99 crore in Q4 FY26, while the high in the series was ₹4.07 crore in Q4 FY25. Profit has risen year on year in each of the last two quarters.
The EBITDA margin was 17.3% in Q2 FY27, following 17.7% in Q1 FY27. It reached 30.1% in Q4 FY25 and fell to 10.0% in Q4 FY26, the low in the reported quarterly series. Revenue and profit moved higher from Q4 FY26 into Q2 FY27, while the margin remained below the Q4 FY25 peak.
How did other Specialty Chemicals companies do?
Fifty-seven Specialty Chemicals companies were compared for the quarter. Their median revenue growth was 28.1%, below Multibase India’s 39.6% revenue growth in Q2 FY27.
Among the peers, 37 grew revenue more slowly than Multibase India and 20 grew faster. Of the 53 peers for which profit was compared, 46 reported higher profit. The peer figures were available as of 5 November 2026.
| Multibase India revenue growth (YoY) | +39.6% |
|---|---|
| Median of 57 other Specialty Chemicals companies | +28.1% |
| Companies with slower revenue growth than Multibase India | 37 of 57 |
| Companies with faster revenue growth than Multibase India | 20 of 57 |
| Companies whose net profit rose | 46 of 53 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Multibase India's revenue in Q2 FY27?
Revenue from operations was ₹25.87 crore, up 39.6% from ₹18.53 crore in Q2 FY26 (standalone).
Did Multibase India make a profit in Q2 FY27?
Yes. Net profit was ₹3.70 crore, against a net profit of ₹2.86 crore in Q2 FY26.
What was Multibase India's EPS in Q2 FY27?
Basic earnings per share were ₹2.94, against ₹2.27 in Q2 FY26.
When did Multibase India announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering And Approving The Un-Audited Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 29 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On Wednesday, November 04, 2026 To Consider And Approve The Un-Audited Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 4 November 2026) · PDF
- Un-Audited Financial Results For The Quarter And Half Year Ended September 30, 2026 (BSE, 4 November 2026) · PDF
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