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National Fittings Q2 FY27 results: net profit up 57.6% to ₹2.90 crore, revenue up 35.7%
National Fittings Limited reported Q2 FY27 standalone revenue of ₹32.09 crore for the July–September 2026 quarter, up 35.7% from a year earlier, while net profit rose to ₹2.90 crore from ₹1.84 crore. Against the previous quarter, revenue was higher but profit was lower, with the EBITDA margin falling to 10.5% from 19.7%.
Key points
- Revenue was ₹32.09 crore in Q2 FY27, up 35.7% from ₹23.64 crore in Q2 FY26 and 18.3% from ₹27.13 crore in Q1 FY27.
- Net profit was ₹2.90 crore, up 57.6% from ₹1.84 crore a year earlier but down 26.4% from ₹3.94 crore in Q1 FY27.
- EBITDA was ₹3.38 crore at a margin of 10.5%, against ₹2.44 crore at 10.3% a year earlier and ₹5.34 crore at 19.7% in the previous quarter.
- Basic EPS was ₹3.19, against ₹2.03 in Q2 FY26 and ₹4.34 in Q1 FY27.
- In H1 FY27, revenue was ₹59.22 crore and net profit was ₹6.84 crore, against ₹44.22 crore and ₹4.46 crore respectively in H1 FY26.
How did National Fittings perform in Q2 FY27?
National Fittings reported standalone revenue of ₹32.09 crore in Q2 FY27, up 35.7% from ₹23.64 crore in Q2 FY26 and 18.3% from ₹27.13 crore in Q1 FY27. Total income was ₹32.83 crore, up 32.3% from a year earlier. EBITDA was ₹3.38 crore at a margin of 10.5%, against ₹2.44 crore at 10.3% in Q2 FY26.
Profit before tax was ₹3.22 crore in Q2 FY27, up 16.2% from ₹2.77 crore a year earlier but down 38.3% from ₹5.22 crore in the previous quarter. Net profit was ₹2.90 crore, up 57.6% from ₹1.84 crore in Q2 FY26 and down 26.4% from ₹3.94 crore in Q1 FY27. Basic EPS was ₹3.19, against ₹2.03 and ₹4.34 respectively. The company has no reportable segments under IND AS 108.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 32.09 | 27.13 | 23.64 | +35.7% | +18.3% |
| Other income | 0.74 | 0.93 | 1.17 | −36.8% | −20.4% |
| Total expenses | 29.61 | 22.85 | 22.04 | +34.3% | +29.6% |
| EBITDA | 3.38 | 5.34 | 2.44 | +38.5% | −36.7% |
| EBITDA margin | 10.5% | 19.7% | 10.3% | +0.2 pp | −9.2 pp |
| Profit before tax | 3.22 | 5.22 | 2.77 | +16.2% | −38.3% |
| Tax | 0.32 | 1.28 | 0.93 | −65.6% | −75.0% |
| Net profit | 2.90 | 3.94 | 1.84 | +57.6% | −26.4% |
| EPS (₹) | 3.19 | 4.34 | 2.03 | +57.1% | −26.5% |
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 National Fittings' costs and profit?
Total expenses rose to ₹29.61 crore from ₹22.04 crore in Q2 FY26, an increase of ₹7.57 crore. Cost of materials consumed was ₹13.76 crore, up ₹2.82 crore, employee benefit expense was ₹3.19 crore, up ₹0.73 crore, and other expenses were ₹8.65 crore, up ₹1.70 crore. Depreciation and amortisation was ₹0.83 crore against ₹0.71 crore, while finance cost fell to ₹0.08 crore from ₹0.12 crore.
Other income fell to ₹0.74 crore from ₹1.17 crore in Q2 FY26, a decline of ₹0.43 crore. There was no exceptional item in either quarter. Tax expense fell to ₹0.32 crore from ₹0.93 crore, down ₹0.61 crore, while profit before tax rose ₹0.45 crore. Against Q1 FY27, total expenses were up ₹6.76 crore, other income was down ₹0.19 crore and tax was down ₹0.96 crore, while EBITDA was down ₹1.96 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 13.76 | 10.94 | +2.82 | +25.8% |
| Employee cost | 3.19 | 2.46 | +0.73 | +29.7% |
| Finance costs | 0.08 | 0.12 | −0.04 | −33.3% |
| Depreciation | 0.83 | 0.71 | +0.12 | +16.9% |
| Other expenses | 8.65 | 6.95 | +1.70 | +24.5% |
| Total expenses | 29.61 | 22.04 | +7.57 | +34.3% |
| Other income | 0.74 | 1.17 | −0.43 | −36.8% |
| Tax | 0.32 | 0.93 | −0.61 | −65.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, National Fittings reported revenue of ₹59.22 crore, up 33.9% from ₹44.22 crore in H1 FY26, and total income of ₹60.9 crore, up 31.5% from ₹46.3 crore. Profit before tax was ₹8.43 crore, up 32.3% from ₹6.37 crore.
Net profit for the first half was ₹6.84 crore, up 53.4% from ₹4.46 crore in H1 FY26. Basic EPS was ₹7.53, against ₹4.91. The results were approved by the board on 30 October 2026, and the auditors' limited review report carried no qualification or modification.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 59.22 | 44.22 | +33.9% |
| Profit before tax | 8.43 | 6.37 | +32.3% |
| Net profit | 6.84 | 4.46 | +53.4% |
| EPS (₹) | 7.53 | 4.91 | +53.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹131.06 crore as on 30 September 2026, against ₹119.84 crore as on 31 March 2026. Total equity rose to ₹94.98 crore from ₹89.05 crore, while borrowings stood at ₹18.25 crore against ₹15.67 crore. Cash and cash equivalents were ₹0.73 crore against ₹0.04 crore. Inventories were ₹22.75 crore, trade receivables ₹15.24 crore and trade payables ₹9.72 crore.
For H1 FY27, net cash flow used in operating activities was ₹3.4 crore, against net cash flow from operating activities of ₹4.04 crore in H1 FY26. Net cash used in investing activities was ₹12.22 crore against ₹0.47 crore, with capital expenditure of ₹12.31 crore compared with ₹0.71 crore. Net cash from financing activities was ₹2.17 crore against a net outflow of ₹1.96 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 131.06 | 119.84 |
| Total equity | 94.98 | 89.05 |
| Borrowings | 18.25 | 15.67 |
| Cash and equivalents | 0.73 | 0.04 |
| Inventories | 22.75 | 21.84 |
| Trade receivables | 15.24 | 8.76 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −3.40 | 4.04 |
| Cash from investing | −12.22 | −0.47 |
| Cash from financing | 2.17 | −1.96 |
| Capital expenditure | 12.31 | 0.71 |
Source: Company's results filing (XBRL).
How has National Fittings done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters. In the latest series, revenue reached ₹32.09 crore in Q2 FY27, the highest of the eight quarters shown, up from ₹20.58 crore in Q1 FY26, which was the lowest. The EBITDA margin was 19.7% in Q1 FY27, the peak, before falling to 10.5% in Q2 FY27, the lowest since Q2 FY26's 10.3%.
Net profit in the latest series was ₹14.49 crore in Q4 FY25, the peak, and ₹1.04 crore in Q3 FY25, the lowest. Profit rose year on year in each of the last two quarters. In Q2 FY27, net profit was ₹2.90 crore, above ₹2.93 crore in Q3 FY26 and ₹1.72 crore in Q4 FY26.
How did National Fittings shares react?
The filing was published on 30 October 2026 and the stock moved in the market. From the price when the filing appeared, the shares fell 4.2% after five minutes, 5.1% after 15 minutes and 5.1% after 30 minutes. From the previous close of ₹313.0, the stock fell 5.0% on the reaction day, and by the next day's close it was down 9.8% from its pre-results close.
| After the filing | Stock | Iron & Steel Products median |
|---|---|---|
| 5 minutes | −4.2% | |
| 15 minutes | −5.1% | |
| 30 minutes | −5.1% | |
| Reaction day | −5.0% | −0.8% |
| Next day | −9.8% | −0.0% |
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 |
|---|---|
| 5 August 2026 | +5.0% |
| 22 May 2026 | −10.4% |
| 4 February 2026 | +12.3% |
| 15 October 2025 | +0.5% |
| 28 July 2025 | −3.4% |
| 16 May 2025 | +12.6% |
| 24 July 2024 | −1.6% |
| 27 May 2024 | +3.1% |
Source: MarketPing price-reaction measurement.
How did other Iron & Steel Products companies do?
Among the Iron & Steel Products companies that have filed for this quarter, 26 were compared for revenue growth and the median revenue growth was 23.5%. Of the other companies, 17 grew revenue more slowly than National Fittings and 9 grew faster than it.
Out of 31 peers compared for profit, 20 reported higher profit. The comparison covers companies in the Iron & Steel Products industry as of 4 November 2026.
| National Fittings revenue growth (YoY) | +35.7% |
|---|---|
| Median of 26 other Iron & Steel Products companies | +23.5% |
| Companies with slower revenue growth than National Fittings | 17 of 26 |
| Companies with faster revenue growth than National Fittings | 9 of 26 |
| Companies whose net profit rose | 20 of 31 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was National Fittings' revenue in Q2 FY27?
Revenue from operations was ₹32.09 crore, up 35.7% from ₹23.64 crore in Q2 FY26 (standalone).
Did National Fittings make a profit in Q2 FY27?
Yes. Net profit was ₹2.90 crore, against a net profit of ₹1.84 crore in Q2 FY26.
What was National Fittings' EPS in Q2 FY27?
Basic earnings per share were ₹3.19, against ₹2.03 in Q2 FY26.
How did National Fittings shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.0% from the previous close; the median Iron & Steel Products stock moved −0.8%.
When did National Fittings announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Publishing Un-Audited Financial Results For The Quarter Ended 30.09.2026 (BSE, 23 October 2026) · PDF
- Board Meeting Outcome for Un-Audited Financial Results For The Quarter Ended 30.09.2026 (BSE, 30 October 2026) · PDF
- Results - Un-Audited Financial Results - 30.09.2026 (BSE, 30 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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