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Nesco Q2 FY27 results: net profit down 11.5% to ₹105.21 crore, revenue down 4.5%
Nesco Limited reported consolidated revenue of ₹228.44 crore and a net profit of ₹105.21 crore for Q2 FY27, down from ₹239.18 crore and ₹118.91 crore in the year-ago quarter. EBITDA was ₹127.82 crore at a 56.0% margin, while basic EPS fell to ₹14.93 from ₹16.88; on a standalone basis, revenue was ₹228.45 crore and profit after tax was ₹105.21 crore.
Key points
- Consolidated revenue was ₹228.44 crore in Q2 FY27, down 4.5% from ₹239.18 crore in Q2 FY26 and up 7.9% from ₹211.80 crore in Q1 FY27.
- EBITDA was ₹127.82 crore, with a 56.0% margin, compared with ₹136.12 crore and 56.9% in Q2 FY26 and ₹102.37 crore and 48.3% in Q1 FY27.
- Net profit was ₹105.21 crore, down 11.5% from ₹118.91 crore in Q2 FY26 but up 5.3% from ₹99.96 crore in Q1 FY27.
- Basic EPS was ₹14.93, down ₹1.95 from ₹16.88 in Q2 FY26 and up ₹0.74 from ₹14.19 in Q1 FY27.
- The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026 on 23 October 2026.
How did Nesco perform in Q2 FY27?
Nesco’s consolidated Q2 FY27 revenue was ₹228.44 crore, down ₹10.74 crore or 4.5% from ₹239.18 crore in Q2 FY26. Against Q1 FY27, revenue rose ₹16.64 crore or 7.9% from ₹211.80 crore. Total income was ₹252.57 crore, lower than ₹263.58 crore a year earlier and ₹255.40 crore in the previous quarter.
Consolidated EBITDA was ₹127.82 crore in Q2 FY27, down ₹8.30 crore or 6.1% from ₹136.12 crore in Q2 FY26. It rose ₹25.45 crore or 24.9% from ₹102.37 crore in Q1 FY27, while the EBITDA margin increased 7.7 percentage points to 56.0% from 48.3%.
Profit before tax was ₹135.81 crore, down ₹7.68 crore or 5.4% from ₹143.49 crore in Q2 FY26 and up ₹8.77 crore or 6.9% from ₹127.04 crore in Q1 FY27. Net profit was ₹105.21 crore, down ₹13.70 crore or 11.5% year on year but up ₹5.25 crore or 5.3% sequentially; basic EPS was ₹14.93. On a standalone basis, revenue was ₹228.45 crore and profit after tax was ₹105.21 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 228.44 | 211.80 | 239.18 | −4.5% | +7.9% |
| Other income | 24.13 | 43.60 | 24.40 | −1.1% | −44.7% |
| Total expenses | 116.76 | 128.36 | 120.09 | −2.8% | −9.0% |
| EBITDA | 127.82 | 102.37 | 136.12 | −6.1% | +24.9% |
| EBITDA margin | 56.0% | 48.3% | 56.9% | −0.9 pp | +7.7 pp |
| Profit before tax | 135.81 | 127.04 | 143.49 | −5.4% | +6.9% |
| Tax | 30.60 | 27.08 | 24.58 | +24.5% | +13.0% |
| Net profit | 105.21 | 99.96 | 118.91 | −11.5% | +5.3% |
| EPS (₹) | 14.93 | 14.19 | 16.88 | −11.6% | +5.2% |
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 Nesco's costs and profit?
Total expenses fell ₹3.33 crore or 2.8% to ₹116.76 crore from ₹120.09 crore in Q2 FY26. Other expenses declined ₹11.17 crore or 17.8% to ₹51.70 crore and depreciation fell ₹1.02 crore or 8.8% to ₹10.57 crore, while finance costs rose ₹0.13 crore or 2.4% to ₹5.57 crore.
Cost of materials consumed rose ₹6.21 crore or 20.9% to ₹35.92 crore, and employee benefits expenses increased ₹3.57 crore or 33.8% to ₹14.12 crore. Other income was ₹24.13 crore, down ₹0.27 crore or 1.1% from ₹24.40 crore, and there was no exceptional item. Tax expense rose ₹6.02 crore or 24.5% to ₹30.60 crore.
Against Q1 FY27, total expenses fell ₹11.60 crore or 9.0% to ₹116.76 crore, including a ₹7.62 crore fall in other expenses and a ₹1.69 crore reduction in finance costs. Other income fell ₹19.47 crore or 44.7% to ₹24.13 crore, while tax expense rose ₹3.52 crore or 13.0% to ₹30.60 crore; there was no exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 35.92 | 29.71 | +6.21 | +20.9% |
| Employee cost | 14.12 | 10.55 | +3.57 | +33.8% |
| Finance costs | 5.57 | 5.44 | +0.13 | +2.4% |
| Depreciation | 10.57 | 11.59 | −1.02 | −8.8% |
| Other expenses | 51.70 | 62.87 | −11.17 | −17.8% |
| Total expenses | 116.76 | 120.09 | −3.33 | −2.8% |
| Other income | 24.13 | 24.40 | −0.27 | −1.1% |
| Tax | 30.60 | 24.58 | +6.02 | +24.5% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹440.24 crore, up ₹7.72 crore or 1.8% from ₹432.52 crore in H1 FY26. Total income rose ₹22.94 crore or 4.7% to ₹507.97 crore from ₹485.03 crore.
Profit before tax for H1 FY27 was ₹262.85 crore, down ₹4.46 crore or 1.7% from ₹267.31 crore in H1 FY26. Net profit was ₹205.17 crore, down ₹9.88 crore or 4.6% from ₹215.05 crore, while basic EPS fell ₹1.40 to ₹29.12 from ₹30.52.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 440.24 | 432.52 | +1.8% |
| Profit before tax | 262.85 | 267.31 | −1.7% |
| Net profit | 205.17 | 215.05 | −4.6% |
| EPS (₹) | 29.12 | 30.52 | −4.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹3,710.66 crore, up from ₹3,688.92 crore at 31 March 2026, and total equity was ₹3,152.36 crore, up from ₹2,996.42 crore. Nesco reported no borrowings at either date, while cash was ₹26.80 crore, up from ₹14.32 crore.
Inventories increased to ₹14.05 crore from ₹12.99 crore, while trade receivables were ₹19.14 crore against ₹19.28 crore. Trade payables fell to ₹13.53 crore from ₹15.38 crore. H1 FY27 operating cash flow was ₹210.86 crore, compared with ₹216.60 crore in H1 FY26.
Investing cash flow was negative ₹148.02 crore in H1 FY27, compared with negative ₹279.87 crore a year earlier, while financing cash flow was negative ₹50.36 crore against ₹61.92 crore in H1 FY26. Capital expenditure was ₹70.54 crore, compared with ₹144.65 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 3,711 | 3,689 |
| Total equity | 3,152 | 2,996 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 26.80 | 14.32 |
| Inventories | 14.05 | 12.99 |
| Trade receivables | 19.14 | 19.28 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 210.86 | 216.60 |
| Cash from investing | −148.02 | −279.87 |
| Cash from financing | −50.36 | 61.92 |
| Capital expenditure | 70.54 | 144.65 |
Source: Company's results filing (XBRL).
How has Nesco done over the last 8 quarters?
Revenue reached ₹251.62 crore in Q4 FY26 before falling to ₹211.80 crore in Q1 FY27 and recovering to ₹228.44 crore in Q2 FY27. The latest quarter remained below the Q4 FY26 level, while the sequence shows an upward move from the preceding quarter.
Net profit was ₹118.91 crore in Q2 FY26, the highest among the reported recent quarters, and fell to ₹93.05 crore in Q4 FY26 before rising to ₹99.96 crore in Q1 FY27 and ₹105.21 crore in Q2 FY27. The EBITDA margin reached 56.9% in Q2 FY26, fell to 46.9% in Q4 FY26 and recovered to 56.0% in Q2 FY27.
Which businesses drove the quarter?
Realty reported revenue of ₹100.80 crore, up 0.7% from ₹100.14 crore in Q2 FY26, and EBIT of ₹86.83 crore, with an 86.1% EBIT margin. Foods revenue was ₹52.92 crore, down 2.1% from ₹54.03 crore, while EBIT fell to ₹0.57 crore from ₹5.25 crore and the EBIT margin was 1.1%.
Exhibitions and events reported revenue of ₹63.21 crore and EBIT of ₹39.53 crore, with a 62.5% EBIT margin. Engineering reported revenue of ₹11.15 crore and EBIT of ₹1.34 crore, with a 12.0% EBIT margin. Way-side amenities reported revenue of ₹0.36 crore and an EBIT loss of ₹0.89 crore.
Income from investments was ₹24.13 crore with no EBIT. The filing also reported a segment revenue total of ₹228.45 crore for Q2 FY27 and ₹239.18 crore for Q2 FY26.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| realty | 100.80 | +0.7% | 86.83 | 86.1% |
| Exhibitions & events | 63.21 | 39.53 | 62.5% | |
| Engineering | 11.15 | 1.34 | 12.0% | |
| Foods | 52.92 | −2.1% | 0.57 | 1.1% |
| Way-side Amenities | 0.36 | −0.89 | -247.2% | |
| Income from Investments | 24.13 | 0 | 0.0% |
Source: Company's results filing (XBRL segment data).
How did Nesco shares react?
The filing was released after market hours, with a base price of ₹980.00 and a prior close of ₹989.90. The stock was down 1.3% after 5 minutes, down 1.6% after 15 minutes and down 1.2% after 30 minutes. It closed the reaction day down 3.0% from the previous close.
By the next day's close, the stock was up 1.0% from its pre-results close, and by the fifth session it was up 4.2%. The industry median was up 0.4% on reaction day, up 1.6% by the next close and up 2.5% by the fifth close, leaving Nesco's excess moves at -3.4 percentage points, -0.5 percentage points and 1.6 percentage points.
Earlier results-day moves were mixed: Nesco fell 4.3% on 27 July 2026 and 1.9% on 25 May 2026, but rose 8.3% on 6 November 2025 and 4.5% on 30 July 2025.
| After the filing | Stock | Diversified Commercial Services median |
|---|---|---|
| 5 minutes | −1.3% | |
| 15 minutes | −1.6% | |
| 30 minutes | −1.2% | |
| Reaction day | −3.0% | +0.4% |
| Next day | +1.0% | +1.6% |
| 5 days | +4.2% | +2.5% |
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 |
|---|---|
| 27 July 2026 | −4.3% |
| 25 May 2026 | −1.9% |
| 27 January 2026 | −1.6% |
| 6 November 2025 | +8.3% |
| 30 July 2025 | +4.5% |
| 16 May 2025 | −4.9% |
| 30 January 2025 | −0.6% |
| 28 October 2024 | +3.9% |
Source: MarketPing price-reaction measurement.
How did other Diversified Commercial Services companies do?
Among 24 Diversified Commercial Services peers that had filed for the quarter, the median revenue growth was 18.1%. Six peers grew more slowly than Nesco, while 18 peers grew faster than Nesco.
Of the 30 peers used for the profit comparison, 19 reported higher profit. The peer data was available as of 4 November 2026.
| Nesco revenue growth (YoY) | −4.5% |
|---|---|
| Median of 24 other Diversified Commercial Services companies | +18.1% |
| Companies with slower revenue growth than Nesco | 6 of 24 |
| Companies with faster revenue growth than Nesco | 18 of 24 |
| Companies whose net profit rose | 19 of 30 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Nesco's revenue in Q2 FY27?
Revenue from operations was ₹228.44 crore, down 4.5% from ₹239.18 crore in Q2 FY26 (consolidated).
Did Nesco make a profit in Q2 FY27?
Yes. Net profit was ₹105.21 crore, against a net profit of ₹118.91 crore in Q2 FY26.
What was Nesco's EPS in Q2 FY27?
Basic earnings per share were ₹14.93, against ₹16.88 in Q2 FY26.
How did Nesco shares react to the Q2 FY27 results?
On the reaction day the stock moved −3.0% from the previous close; the median Diversified Commercial Services stock moved +0.4%.
When did Nesco announce its Q2 FY27 results?
On 23 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting Intimation For Unaudited Standalone And Consolidated Financial Results For The Quarter Ended 30 September 2026. (BSE, 8 October 2026) · PDF
- Board Meeting Outcome for Financial Results For The Quarter And Half Year Ended 30 September 2026 (BSE, 23 October 2026) · PDF
- Financial Results For The Quarter And Half Year Ended 30 September 2026 (BSE, 23 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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