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- Q2 FY27 results
Narmada Macplast Drip Irrigation Systems Q2 FY27 results: net profit up 22.0% to ₹0.50 crore, revenue up 3.8%
Narmada Macplast Drip Irrigation Systems Ltd reported standalone Q2 FY27 revenue of ₹3.25 crore, up 3.8% from a year ago, while net profit rose 22.0% to ₹0.50 crore. EBITDA was ₹0.63 crore and the margin was 19.3%, up 1.7 percentage points from Q2 FY26, although revenue fell 11.9% from Q1 FY27.
Key points
- Standalone Q2 FY27 revenue was ₹3.25 crore, up ₹0.12 crore or 3.8% from Q2 FY26 but down ₹0.44 crore or 11.9% from Q1 FY27.
- Q2 FY27 EBITDA was ₹0.63 crore, up ₹0.08 crore or 14.5% year on year, while the margin rose 1.7 percentage points to 19.3%.
- Net profit was ₹0.50 crore, up ₹0.09 crore or 22.0% from Q2 FY26; basic EPS was ₹1.38, up ₹0.26 or 23.2%.
- H1 FY27 revenue was ₹6.94 crore, up 11.4%, and net profit was ₹0.95 crore, up 17.3%, with EPS of ₹2.63.
- At 30 September 2026, total assets were ₹18.0 crore, equity was ₹10.35 crore, borrowings were ₹0.07 crore and cash was ₹0.15 crore.
How did Narmada Macplast Drip Irrigation Systems perform in Q2 FY27?
Narmada Macplast Drip Irrigation Systems reported standalone revenue of ₹3.25 crore for Q2 FY27, up 3.8% from ₹3.13 crore in Q2 FY26 but down 11.9% from ₹3.69 crore in Q1 FY27. EBITDA rose to ₹0.63 crore from ₹0.55 crore a year earlier and ₹0.61 crore in the previous quarter. The EBITDA margin was 19.3%, up 1.7 percentage points year on year and 2.8 percentage points sequentially.
Standalone profit before tax was ₹0.63 crore, compared with ₹0.55 crore in Q2 FY26 and ₹0.61 crore in Q1 FY27. Net profit was ₹0.50 crore, up 22.0% from ₹0.41 crore a year earlier and 11.1% from ₹0.45 crore in the previous quarter. Basic EPS was ₹1.38, compared with ₹1.12 and ₹2.48, respectively; the filing presents only standalone results and does not provide a consolidated comparison.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 3.25 | 3.69 | 3.13 | +3.8% | −11.9% |
| Other income | 0 | 0 | 0 | ||
| Total expenses | 2.62 | 3.08 | 2.58 | +1.6% | −14.9% |
| EBITDA | 0.63 | 0.61 | 0.55 | +14.5% | +3.3% |
| EBITDA margin | 19.3% | 16.5% | 17.6% | +1.7 pp | +2.8 pp |
| Profit before tax | 0.63 | 0.61 | 0.55 | +14.5% | +3.3% |
| Tax | 0.13 | 0.16 | 0.14 | −7.1% | −18.8% |
| Net profit | 0.50 | 0.45 | 0.41 | +22.0% | +11.1% |
| EPS (₹) | 1.38 | 2.48 | 1.12 | +23.2% | −44.4% |
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 Narmada Macplast Drip Irrigation Systems' costs and profit?
Total expenses were ₹2.62 crore in Q2 FY27, up ₹0.04 crore or 1.6% from ₹2.58 crore in Q2 FY26. Employee cost rose ₹0.01 crore or 100.0% to ₹0.02 crore, while other expenses increased ₹0.02 crore or 50.0% to ₹0.06 crore. Finance costs, depreciation and cost of materials were unchanged at ₹0 crore, and there was no other income or exceptional item.
Against Q1 FY27, total expenses fell ₹0.46 crore or 14.9% to ₹2.62 crore. Other expenses declined ₹0.10 crore or 62.5% to ₹0.06 crore, while employee cost rose ₹0.01 crore or 100.0% to ₹0.02 crore. Tax expense fell ₹0.03 crore or 18.8% to ₹0.13 crore from ₹0.16 crore. The filing does not state a reason for the movements in employee cost or other expenses.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.02 | 0.01 | +0.01 | +100.0% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.06 | 0.04 | +0.02 | +50.0% |
| Total expenses | 2.62 | 2.58 | +0.04 | +1.6% |
| Other income | 0 | 0 | 0 | |
| Tax | 0.13 | 0.14 | −0.01 | −7.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue and total income were ₹6.94 crore, up ₹0.71 crore or 11.4% from ₹6.23 crore in H1 FY26. Profit before tax rose 13.8% to ₹1.24 crore from ₹1.09 crore, while net profit increased 17.3% to ₹0.95 crore from ₹0.81 crore. Basic EPS was ₹2.63, up from ₹2.23.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 6.94 | 6.23 | +11.4% |
| Profit before tax | 1.24 | 1.09 | +13.8% |
| Net profit | 0.95 | 0.81 | +17.3% |
| EPS (₹) | 2.63 | 2.23 | +17.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹18.0 crore, down from ₹19.05 crore at 31 March 2026, while total equity rose to ₹10.35 crore from ₹9.4 crore. Current borrowings were ₹0.07 crore, up from ₹0.04 crore, and cash was ₹0.15 crore, up from ₹0.07 crore. Trade receivables fell to ₹12.75 crore from ₹13.55 crore, and trade payables declined to ₹5.53 crore from ₹7.91 crore.
Net cash from operating activities in H1 FY27 was ₹0.05 crore, compared with a net cash outflow of ₹0.04 crore in H1 FY26. Investing cash flow was ₹0 crore in both periods, while financing cash flow was ₹0.03 crore in H1 FY27 against a net cash outflow of ₹0.04 crore in H1 FY26. Capital expenditure was ₹0 crore in both periods.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 18 | 19.05 |
| Total equity | 10.35 | 9.40 |
| Borrowings | 0.07 | 0.04 |
| Cash and equivalents | 0.15 | 0.07 |
| Inventories | 0 | 0 |
| Trade receivables | 12.75 | 13.55 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 0.05 | 0.05 |
| Cash from investing | 0 | 0 |
| Cash from financing | 0.03 | −0.04 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has Narmada Macplast Drip Irrigation Systems done over the last 8 quarters?
Revenue rose year on year for three consecutive quarters, while profit after tax also rose year on year for three consecutive quarters. Across the reported series, revenue bottomed at ₹2.47 crore in Q4 FY25 and reached its highest level of ₹3.74 crore in Q4 FY26; in Q2 FY27, revenue was ₹3.25 crore, lower than ₹3.69 crore in Q1 FY27.
EBITDA margin peaked at 19.3% in Q2 FY27 and bottomed at 5.8% in Q3 FY25. Net profit reached ₹0.50 crore in Q2 FY27, its highest level in the reported series, compared with ₹0.40 crore in Q1 FY26. Revenue declined sequentially in Q2 FY27, but profit after tax increased from ₹0.45 crore.
How did Narmada Macplast Drip Irrigation Systems shares react?
The results were announced after market hours on 15 October 2026. From the price when the filing appeared, the stock was up 5.1% after five minutes, up 2.4% after 15 minutes and up 2.4% after 30 minutes. On the reaction day, it closed down 0.9% from the previous close; by the next day's close, it was up 3.4% from that pre-results close, and by the fifth session it was down 2.2%.
The Plastic Products - Industrial industry median fell 0.6% on the reaction day, 0.8% by the next session and 6.5% by the fifth session. Narmada Macplast therefore moved 0.3 percentage points below the industry median on the reaction day, but was 4.2 percentage points above it by the next close and 4.3 percentage points above it by the fifth session. Earlier reaction-day moves included down 1.5% on 30 May 2026 and up 1.9% on 29 April 2025.
| After the filing | Stock | Plastic Products - Industrial median |
|---|---|---|
| 5 minutes | +5.1% | |
| 15 minutes | +2.4% | |
| 30 minutes | +2.4% | |
| Reaction day | −0.9% | −0.6% |
| Next day | +3.4% | −0.8% |
| 5 days | −2.2% | −6.5% |
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 |
|---|---|
| 30 May 2026 | −1.5% |
| 13 February 2026 | −1.4% |
| 14 November 2025 | −0.2% |
| 13 August 2025 | +1.0% |
| 29 April 2025 | +1.9% |
| 12 October 2024 | +1.1% |
| 7 August 2024 | +1.9% |
Source: MarketPing price-reaction measurement.
How did other Plastic Products - Industrial companies do?
Sixteen other Plastic Products - Industrial companies that had filed for the quarter were compared with Narmada Macplast. Their median revenue growth was 24.8%, compared with 3.8% revenue growth for Narmada Macplast. Of the peers for which revenue growth was classified, 3 grew slower than the company and 13 grew faster than the company.
Among the peers with comparable profit information, 11 reported higher profit. The peer comparison was recorded as of 4 November 2026, with revenue growth available for 16 companies and profit comparison covering 20 companies.
| Narmada Macplast Drip Irrigation Systems revenue growth (YoY) | +3.8% |
|---|---|
| Median of 16 other Plastic Products - Industrial companies | +24.8% |
| Companies with slower revenue growth than Narmada Macplast Drip Irrigation Systems | 3 of 16 |
| Companies with faster revenue growth than Narmada Macplast Drip Irrigation Systems | 13 of 16 |
| Companies whose net profit rose | 11 of 20 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Narmada Macplast Drip Irrigation Systems' revenue in Q2 FY27?
Revenue from operations was ₹3.25 crore, up 3.8% from ₹3.13 crore in Q2 FY26 (standalone).
Did Narmada Macplast Drip Irrigation Systems make a profit in Q2 FY27?
Yes. Net profit was ₹0.50 crore, against a net profit of ₹0.41 crore in Q2 FY26.
What was Narmada Macplast Drip Irrigation Systems' EPS in Q2 FY27?
Basic earnings per share were ₹1.38, against ₹1.12 in Q2 FY26.
How did Narmada Macplast Drip Irrigation Systems shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.9% from the previous close; the median Plastic Products - Industrial stock moved −0.6%.
When did Narmada Macplast Drip Irrigation Systems announce its Q2 FY27 results?
On 15 October 2026, in a filing to the BSE.
Sources
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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