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National Plastic Industries Q2 FY27 results: net profit down 40.1% to ₹0.97 crore, revenue up 1.9%
National Plastic Industries Ltd reported standalone Q2 FY27 revenue of ₹23.19 crore, up 1.9% from Q2 FY26 but down from the previous quarter’s ₹15.52 crore. Net profit was ₹0.97 crore, down 40.1% year on year but up 54.0% sequentially, while basic EPS was ₹1.06.
Key points
- Standalone Q2 FY27 revenue was ₹23.19 crore, up 1.9% from ₹22.76 crore in Q2 FY26 and up 49.4% from ₹15.52 crore in Q1 FY27.
- EBITDA was ₹2.11 crore, down 24.6% from ₹2.80 crore in Q2 FY26, while EBITDA margin fell to 9.1% from 12.3%.
- Net profit was ₹0.97 crore, down 40.1% from ₹1.62 crore in Q2 FY26 and up 54.0% from ₹0.63 crore in Q1 FY27.
- Basic EPS was ₹1.06, compared with ₹1.77 in Q2 FY26 and ₹0.68 in Q1 FY27.
- H1 FY27 revenue was ₹38.71 crore, down 13.5% from H1 FY26, and net profit was ₹1.59 crore, down 35.6%.
How did National Plastic Industries perform in Q2 FY27?
National Plastic Industries reported standalone revenue of ₹23.19 crore in Q2 FY27, up 1.9% from ₹22.76 crore in Q2 FY26. Against Q1 FY27, revenue rose 49.4% from ₹15.52 crore. The quarter ended on 30 September 2026 and covered July–September 2026.
EBITDA was ₹2.11 crore, down 24.6% from ₹2.80 crore a year earlier and up 19.2% from ₹1.77 crore in the previous quarter. EBITDA margin declined to 9.1% from 12.3% in Q2 FY26 and from 11.4% in Q1 FY27.
Profit before tax and net profit were ₹0.97 crore, down 40.1% from ₹1.62 crore in Q2 FY26 but up 54.0% from ₹0.63 crore in Q1 FY27. Basic EPS was ₹1.06, compared with ₹1.77 a year earlier and ₹0.68 in the previous quarter. The results were standalone.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 23.19 | 15.52 | 22.76 | +1.9% | +49.4% |
| Other income | 0.02 | 0.02 | 0.02 | +0.0% | +0.0% |
| Total expenses | 22.24 | 14.91 | 21.17 | +5.1% | +49.2% |
| EBITDA | 2.11 | 1.77 | 2.80 | −24.6% | +19.2% |
| EBITDA margin | 9.1% | 11.4% | 12.3% | −3.2 pp | −2.3 pp |
| Profit before tax | 0.97 | 0.63 | 1.62 | −40.1% | +54.0% |
| Tax | 0 | 0 | 0 | ||
| Net profit | 0.97 | 0.63 | 1.62 | −40.1% | +54.0% |
| EPS (₹) | 1.06 | 0.68 | 1.77 | −40.1% | +55.9% |
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 Plastic Industries' costs and profit?
Total expenses increased 5.1% year on year to ₹22.24 crore from ₹21.17 crore. Cost of materials rose 27.8% to ₹18.20 crore from ₹14.24 crore, while other expenses increased 13.1% to ₹5.78 crore from ₹5.11 crore. These figures show the main changes in the reported cost lines; the filing does not state a reason for the increase.
Employee cost fell 9.5% to ₹1.72 crore from ₹1.90 crore and finance costs decreased 17.3% to ₹0.43 crore from ₹0.52 crore. Depreciation increased 5.8% to ₹0.73 crore from ₹0.69 crore. Other income was unchanged at ₹0.02 crore, and there was no exceptional item.
Tax expense was ₹0 crore in both Q2 FY27 and Q2 FY26. Profit before tax fell 40.1% to ₹0.97 crore from ₹1.62 crore, while the net profit margin declined to 4.2% from 7.1%. In the filing, the company states that it manufactures plastic moulded and extruded articles and PVC mats.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 18.20 | 14.24 | +3.96 | +27.8% |
| Employee cost | 1.72 | 1.90 | −0.18 | −9.5% |
| Finance costs | 0.43 | 0.52 | −0.09 | −17.3% |
| Depreciation | 0.73 | 0.69 | +0.04 | +5.8% |
| Other expenses | 5.78 | 5.11 | +0.67 | +13.1% |
| Total expenses | 22.24 | 21.17 | +1.07 | +5.1% |
| Other income | 0.02 | 0.02 | 0 | +0.0% |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, standalone revenue was ₹38.71 crore, down 13.5% from ₹44.73 crore in H1 FY26. Total income was ₹38.74 crore, down 13.5% from ₹44.78 crore, while profit before tax was ₹1.59 crore, down 35.6% from ₹2.47 crore.
H1 FY27 net profit was ₹1.59 crore, compared with ₹2.47 crore in H1 FY26. Basic EPS was ₹1.75, down 35.4% from ₹2.71. The half-year results were standalone and unaudited.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 38.71 | 44.73 | −13.5% |
| Profit before tax | 1.59 | 2.47 | −35.6% |
| Net profit | 1.59 | 2.47 | −35.6% |
| EPS (₹) | 1.75 | 2.71 | −35.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹91.74 crore, compared with ₹81.95 crore at 31 March 2026. Total equity was ₹47.12 crore against ₹45.53 crore, and borrowings were ₹28.49 crore against ₹22.15 crore. Cash and cash equivalents were ₹0.02 crore, compared with ₹0.06 crore. Inventories were ₹29.84 crore against ₹26.39 crore.
In the first half of FY27, net cash used in operating activities was ₹14.07 crore, compared with net cash generated of ₹0.92 crore in H1 FY26. Investing cash flow was negative ₹3.45 crore against negative ₹2.42 crore, and financing cash flow was positive ₹17.47 crore against positive ₹1.35 crore. Capital expenditure was ₹3.45 crore, compared with ₹2.42 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 91.74 | 81.95 |
| Total equity | 47.12 | 45.53 |
| Borrowings | 28.49 | 22.15 |
| Cash and equivalents | 0.02 | 0.06 |
| Inventories | 29.84 | 26.39 |
| Trade receivables | 12.74 | 12.21 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −14.07 | 0.92 |
| Cash from investing | −3.45 | −2.42 |
| Cash from financing | 17.47 | 1.35 |
| Capital expenditure | 3.45 | 2.42 |
Source: Company's results filing (XBRL).
How has National Plastic Industries done over the last 8 quarters?
Revenue reached its highest level in the reported trend at ₹31.11 crore in Q3 FY26 and its lowest at ₹15.52 crore in Q1 FY27. It rose to ₹23.19 crore in Q2 FY27 from ₹15.52 crore in the preceding quarter, while remaining above ₹22.76 crore in Q2 FY26.
Net profit reached its highest level at ₹2.04 crore in Q3 FY26 and its lowest at a net loss of ₹1.05 crore in Q4 FY26. It recovered to ₹0.63 crore in Q1 FY27 and ₹0.97 crore in Q2 FY27. The EBITDA margin was 9.1% in Q2 FY27, after 8.5% in Q4 FY26 and 11.4% in Q1 FY27, while its highest level in the trend was 13.1% in Q4 FY25.
How did other Plastic Products - Industrial companies do?
Twenty-four companies in the Plastic Products - Industrial peer group filed for the quarter. Their median revenue growth was 31.7%, compared with National Plastic Industries’ revenue growth of 1.9% in Q2 FY27.
Three peers grew more slowly than National Plastic Industries, while 21 grew faster. Among the 28 companies for which profit was compared, 16 reported higher profit.
| National Plastic Industries revenue growth (YoY) | +1.9% |
|---|---|
| Median of 24 other Plastic Products - Industrial companies | +31.7% |
| Companies with slower revenue growth than National Plastic Industries | 3 of 24 |
| Companies with faster revenue growth than National Plastic Industries | 21 of 24 |
| Companies whose net profit rose | 16 of 28 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was National Plastic Industries' revenue in Q2 FY27?
Revenue from operations was ₹23.19 crore, up 1.9% from ₹22.76 crore in Q2 FY26 (standalone).
Did National Plastic Industries make a profit in Q2 FY27?
Yes. Net profit was ₹0.97 crore, against a net profit of ₹1.62 crore in Q2 FY26.
What was National Plastic Industries' EPS in Q2 FY27?
Basic earnings per share were ₹1.06, against ₹1.77 in Q2 FY26.
When did National Plastic Industries announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting Intimation With Regards To Unaudited Results For The Quarter And Half Year Ended 30.09.2026 (BSE, 6 October 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting Held On 5-11-2026 (BSE, 5 November 2026) · PDF
- Unaudited Financial Results For The Quarter And Half Yearly Ended 30.09.2026 Laong With Limited Review Report By Statutory Auidtors (BSE, 5 November 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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