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Oswal Greentech Q2 FY27 results: net profit up 55.6% to ₹8.56 crore, revenue down 19.4%
Oswal Greentech Limited reported standalone revenue of ₹13.88 crore in Q2 FY27, down 19.4% from ₹17.23 crore a year earlier, while total income rose 16.3% to ₹27.69 crore. Profit before tax increased 52.5% to ₹11.45 crore and net profit rose 55.6% to ₹8.56 crore; basic EPS was ₹0.33.
Key points
- Revenue was ₹13.88 crore in Q2 FY27, down ₹3.35 crore or 19.4% from ₹17.23 crore in Q2 FY26.
- Total income rose ₹3.89 crore or 16.3% year on year to ₹27.69 crore, while total expenses fell ₹0.05 crore to ₹16.24 crore.
- Profit before tax rose ₹3.94 crore or 52.5% to ₹11.45 crore, and net profit increased ₹3.06 crore or 55.6% to ₹8.56 crore.
- Basic EPS increased ₹0.12 or 57.1% to ₹0.33 from ₹0.21 in Q2 FY26.
- Other income increased ₹7.25 crore or 110.5% year on year to ₹13.81 crore, while employee benefit expense fell ₹0.65 crore to ₹1.92 crore.
How did Oswal Greentech perform in Q2 FY27?
Oswal Greentech reported standalone revenue of ₹13.88 crore in Q2 FY27, down ₹3.35 crore or 19.4% from ₹17.23 crore in Q2 FY26. Other income was ₹13.81 crore, taking total income to ₹27.69 crore, up ₹3.89 crore or 16.3%. Total expenses were ₹16.24 crore, with no exceptional item.
Profit before tax rose ₹3.94 crore or 52.5% year on year to ₹11.45 crore, and net profit rose ₹3.06 crore or 55.6% to ₹8.56 crore. Basic EPS increased ₹0.12 or 57.1% to ₹0.33, while net profit margin increased from 31.9% to 61.7%. EBITDA and EBITDA margin were not reported.
Against Q1 FY27, revenue rose ₹9.17 crore or 194.7% to ₹13.88 crore and total income increased ₹9.05 crore or 48.6% to ₹27.69 crore. Profit before tax rose ₹2.11 crore or 22.6% to ₹11.45 crore, while net profit edged up ₹0.14 crore or 1.7% to ₹8.56 crore and basic EPS remained ₹0.33. The results are on a standalone basis.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 13.88 | 4.71 | 17.23 | −19.4% | +194.7% |
| Other income | 13.81 | 13.94 | 6.56 | +110.5% | −0.9% |
| Total expenses | 16.24 | 9.30 | 16.29 | −0.3% | +74.6% |
| Profit before tax | 11.45 | 9.34 | 7.51 | +52.5% | +22.6% |
| Tax | 2.89 | 0.92 | 2.02 | +43.1% | +214.1% |
| Net profit | 8.56 | 8.42 | 5.50 | +55.6% | +1.7% |
| EPS (₹) | 0.33 | 0.33 | 0.21 | +57.1% | +0.0% |
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 Oswal Greentech's costs and profit?
Other income rose ₹7.25 crore or 110.5% from ₹6.56 crore in Q2 FY26 to ₹13.81 crore, while total expenses fell ₹0.05 crore or 0.3% to ₹16.24 crore. Employee benefit expense declined ₹0.65 crore or 25.3% to ₹1.92 crore, finance costs fell ₹0.07 crore or 31.8% to ₹0.15 crore, and depreciation fell ₹0.05 crore or 6.8% to ₹0.69 crore.
Other expenses increased ₹0.03 crore or 1.0% to ₹3.11 crore. Tax expense rose ₹0.87 crore or 43.1% from ₹2.02 crore to ₹2.89 crore. There was no exceptional item in either Q2 FY27 or Q2 FY26. The filing did not state a reason for the change in other income.
In the sequential comparison, total expenses increased ₹6.94 crore or 74.6% to ₹16.24 crore from ₹9.30 crore in Q1 FY27. Employee benefit expense rose ₹0.15 crore to ₹1.92 crore, finance costs fell ₹0.01 crore to ₹0.15 crore, depreciation rose ₹0.01 crore to ₹0.69 crore and other expenses rose ₹0.02 crore to ₹3.11 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Employee cost | 1.92 | 2.57 | −0.65 | −25.3% |
| Finance costs | 0.15 | 0.22 | −0.07 | −31.8% |
| Depreciation | 0.69 | 0.74 | −0.05 | −6.8% |
| Other expenses | 3.11 | 3.08 | +0.03 | +1.0% |
| Total expenses | 16.24 | 16.29 | −0.05 | −0.3% |
| Other income | 13.81 | 6.56 | +7.25 | +110.5% |
| Tax | 2.89 | 2.02 | +0.87 | +43.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
Profit before tax for H1 FY27 rose ₹5.76 crore or 38.3% to ₹20.79 crore from ₹15.03 crore. Net profit increased ₹4.82 crore or 39.6% to ₹16.98 crore from ₹12.16 crore, and EPS rose from ₹0.47 to ₹0.66. There was no exceptional item in either half-year period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 18.58 | 37.43 | −50.4% |
| Profit before tax | 20.79 | 15.03 | +38.3% |
| Net profit | 16.98 | 12.16 | +39.6% |
| EPS (₹) | 0.66 | 0.47 | +40.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹2,440.80 crore against ₹2,422.18 crore at 31 March 2026, and total equity was ₹2,401.74 crore against ₹2,384.61 crore. Cash was ₹7.69 crore compared with ₹5.61 crore, while inventories were ₹169.87 crore against ₹183.41 crore. Trade receivables were ₹1.36 crore against ₹2.33 crore.
The company reported no borrowings at either 30 September 2026 or 31 March 2026. In H1 FY27, operating cash flow was ₹28.58 crore against ₹37.51 crore in H1 FY26, investing cash flow was negative ₹25.56 crore against negative ₹38.19 crore, and financing cash flow was negative ₹0.94 crore in both periods.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,441 | 2,422 |
| Total equity | 2,402 | 2,385 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 7.69 | 5.61 |
| Inventories | 169.87 | 183.41 |
| Trade receivables | 1.36 | 2.33 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 28.58 | 37.51 |
| Cash from investing | −25.56 | −38.19 |
| Cash from financing | −0.94 | −0.94 |
| Capital expenditure | 0.18 | 0.05 |
Source: Company's results filing (XBRL).
How has Oswal Greentech done over the last 8 quarters?
Revenue reached its highest level in the reported series at ₹20.19 crore in Q1 FY26 and fell to its lowest at ₹4.71 crore in Q1 FY27. It then rose to ₹13.88 crore in Q2 FY27, still below ₹17.23 crore in Q2 FY26.
Net profit was at its lowest in the reported series in Q4 FY26, when the company reported a net loss of ₹83.16 crore, and at its highest in Q3 FY26 at ₹8.58 crore. In Q2 FY27, net profit was ₹8.56 crore. Profit rose year on year in each of the last two quarters. EBITDA margin was not reported in the quarterly trend data.
Which businesses drove the quarter?
Real Estate reported revenue of ₹13.88 crore and EBIT of ₹1.68 crore, with an EBIT margin of 12.1%. Investment Activities reported revenue of ₹14.18 crore and EBIT of ₹12.91 crore, with an EBIT margin of 91.0%. Unallocated reported negative revenue of ₹0.37 crore and negative EBIT of ₹2.99 crore.
Year-ago revenue, EBIT and growth figures for the reported business segments were not provided, so a segment-wise year-on-year comparison cannot be made from the available information.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Real Estate | 13.88 | 1.68 | 12.1% | |
| Investment Activities | 14.18 | 12.91 | 91.0% | |
| Unallocated | −0.37 | −2.99 |
Source: Company's results filing (XBRL segment data).
What did the auditors point out?
BGMG & Associates reviewed the standalone unaudited financial results for the quarter and half year ended 30 September 2026. The review report included an Emphasis of Matter and stated that the conclusion was not modified in respect of those matters; it did not express an audit opinion because a review is substantially less in scope than an audit.
The Emphasis of Matter concerned interest charged on inter corporate deposits with one borrower. The company said it had not charged further interest pending the judgement of the High Court of New Delhi, resulting in interest income and current assets being understated by Rs 1,071.01 lacs for the quarter under review.
The auditors also noted an arbitration award of Rs 9,717.00 lacs in the company’s favour against a total claim of Rs 47,212.27 lacs, resulting in a shortfall of Rs 37,495.27 lacs. The company had challenged the award, which was pending before the High Court of New Delhi. The predecessor auditor’s qualified opinion for the year ended 31 March 2026 was also noted.
How did other Investment Company companies do?
Among 20 other Investment Company companies that filed for the quarter, the median revenue growth was 29.4% as of 4 November 2026. Seventeen peers grew revenue faster than Oswal Greentech, while three grew more slowly.
Of the 22 peers for which profit was compared, 17 reported higher profit. Oswal Greentech’s Q2 FY27 revenue was down 19.4% year on year.
| Oswal Greentech revenue growth (YoY) | −19.4% |
|---|---|
| Median of 20 other Investment Company companies | +29.4% |
| Companies with slower revenue growth than Oswal Greentech | 3 of 20 |
| Companies with faster revenue growth than Oswal Greentech | 17 of 20 |
| Companies whose net profit rose | 17 of 22 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Oswal Greentech's revenue in Q2 FY27?
Revenue from operations was ₹13.88 crore, down 19.4% from ₹17.23 crore in Q2 FY26 (standalone).
Did Oswal Greentech make a profit in Q2 FY27?
Yes. Net profit was ₹8.56 crore, against a net profit of ₹5.50 crore in Q2 FY26.
What was Oswal Greentech's EPS in Q2 FY27?
Basic earnings per share were ₹0.33, against ₹0.21 in Q2 FY26.
When did Oswal Greentech announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Approval Of Un-Audited Financial Results Of The Company Along With The Limited Review Report Of The Statutory Auditors. (BSE, 30 October 2026) · PDF
- Board Meeting Outcome for Un-Audited Financial Results Along With Limited Review Report For The Quarter/Half Year Ended September 30, 2026. (BSE, 4 November 2026) · PDF
- Un-Audited Financial Results Along With Limited Review Report For The Quarter/Half Year Ended September 30, 2026 (BSE, 4 November 2026) · PDF
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