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Panasonic Carbon India Co Q2 FY27 results: net profit down 41.9% to ₹3.44 crore, revenue down 48.0%
Panasonic Carbon India Co. Ltd. reported standalone Q2 FY27 revenue of ₹8.91 crore, down 48.0% from ₹17.12 crore in Q2 FY26 and 19.7% from ₹11.10 crore in Q1 FY27. Net profit fell to ₹3.44 crore from ₹5.92 crore a year ago, while basic EPS was ₹7.18 and the EBITDA margin was 18.6%.
Key points
- Revenue was ₹8.91 crore in Q2 FY27, down 48.0% from ₹17.12 crore in Q2 FY26.
- EBITDA was ₹1.66 crore, down 74.5% from ₹6.52 crore, with the margin at 18.6% versus 38.1%.
- Net profit was ₹3.44 crore, down 41.9% from ₹5.92 crore, and basic EPS was ₹7.18 versus ₹12.34.
- H1 FY27 revenue was ₹20.01 crore, down 39.4% from ₹33.00 crore, while net profit was ₹7.70 crore, down 37.0% from ₹12.22 crore.
- The board recommended Brahmayya & Co. as statutory auditors for five consecutive years, subject to shareholder approval.
How did Panasonic Carbon India Co perform in Q2 FY27?
Panasonic Carbon India reported standalone revenue of ₹8.91 crore for Q2 FY27, compared with ₹17.12 crore in Q2 FY26 and ₹11.10 crore in Q1 FY27. Total income was ₹12.06 crore, while EBITDA was ₹1.66 crore at an 18.6% margin, down from 23.3% in the previous quarter.
Profit before tax was ₹4.67 crore, down from ₹9.70 crore in Q2 FY26 and ₹5.71 crore in Q1 FY27. Net profit was ₹3.44 crore, compared with ₹5.92 crore and ₹4.26 crore, respectively, while basic EPS was ₹7.18 against ₹12.34 and ₹8.87.
The reported results are standalone and unaudited. The board approved the standalone financial results and limited review report for the quarter and half year ended 30 September 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 8.91 | 11.10 | 17.12 | −48.0% | −19.7% |
| Other income | 3.16 | 3.26 | 3.36 | −6.0% | −3.1% |
| Total expenses | 7.40 | 8.65 | 10.78 | −31.4% | −14.5% |
| EBITDA | 1.66 | 2.59 | 6.52 | −74.5% | −35.9% |
| EBITDA margin | 18.6% | 23.3% | 38.1% | −19.5 pp | −4.7 pp |
| Profit before tax | 4.67 | 5.71 | 9.70 | −51.9% | −18.2% |
| Tax | 1.22 | 1.45 | 3.78 | −67.7% | −15.9% |
| Net profit | 3.44 | 4.26 | 5.92 | −41.9% | −19.2% |
| EPS (₹) | 7.18 | 8.87 | 12.34 | −41.8% | −19.1% |
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 Panasonic Carbon India Co's costs and profit?
Total expenses fell to ₹7.40 crore in Q2 FY27 from ₹10.78 crore in Q2 FY26. Cost of materials consumed declined by ₹2.26 crore to ₹2.53 crore, employee cost fell by ₹0.15 crore to ₹2.41 crore, depreciation fell by ₹0.03 crore to ₹0.15 crore, and other expenses fell by ₹1.42 crore to ₹2.23 crore.
Other income declined by ₹0.20 crore to ₹3.16 crore from ₹3.36 crore in Q2 FY26, while finance costs were unchanged. There was no exceptional item in either quarter.
Tax expense fell by ₹2.56 crore to ₹1.22 crore from ₹3.78 crore. Despite lower tax, profit before tax declined by ₹5.03 crore and net profit declined by ₹2.48 crore against Q2 FY26.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 2.53 | 4.79 | −2.26 | −47.2% |
| Employee cost | 2.41 | 2.56 | −0.15 | −5.9% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0.15 | 0.18 | −0.03 | −16.7% |
| Other expenses | 2.23 | 3.65 | −1.42 | −38.9% |
| Total expenses | 7.40 | 10.78 | −3.38 | −31.4% |
| Other income | 3.16 | 3.36 | −0.20 | −6.0% |
| Tax | 1.22 | 3.78 | −2.56 | −67.7% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue was ₹20.01 crore, down ₹12.99 crore or 39.4% from ₹33.00 crore in H1 FY26. Total income was ₹26.43 crore, down ₹13.06 crore or 33.1%, while profit before tax was ₹10.38 crore, down ₹7.78 crore or 42.8%.
Net profit for the first half was ₹7.70 crore, down ₹4.52 crore or 37.0% from ₹12.22 crore, and basic EPS was ₹16.04 compared with ₹25.46 in H1 FY26.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 20.01 | 33 | −39.4% |
| Profit before tax | 10.38 | 18.16 | −42.8% |
| Net profit | 7.70 | 12.22 | −37.0% |
| EPS (₹) | 16.04 | 25.46 | −37.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹195.55 crore and total equity was ₹189.67 crore, compared with ₹193.56 crore and ₹187.68 crore at 31 March 2026. Borrowings remained unchanged at ₹0 crore, while cash fell to ₹0.54 crore from ₹1.07 crore.
Inventories declined to ₹3.33 crore from ₹3.78 crore, trade receivables fell to ₹3.25 crore from ₹4.53 crore, and trade payables fell to ₹1.46 crore from ₹1.90 crore. In the first half, operating cash flow was ₹3.47 crore, investing cash flow was ₹1.75 crore and financing cash flow was a negative ₹5.74 crore.
For H1 FY26, operating cash flow was ₹7.58 crore, investing cash flow was a negative ₹1.93 crore and financing cash flow was a negative ₹5.76 crore. Capital expenditure was ₹0.04 crore in H1 FY27, compared with ₹0.33 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 195.55 | 193.56 |
| Total equity | 189.67 | 187.68 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 0.54 | 1.07 |
| Inventories | 3.33 | 3.78 |
| Trade receivables | 3.25 | 4.53 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 3.47 | 7.58 |
| Cash from investing | 1.75 | −1.93 |
| Cash from financing | −5.74 | −5.76 |
| Capital expenditure | 0.04 | 0.33 |
Source: Company's results filing (XBRL).
How has Panasonic Carbon India Co done over the last 8 quarters?
Revenue peaked at ₹17.12 crore in Q2 FY26 and fell to ₹8.91 crore in Q2 FY27, the lowest level in the reported eight-quarter series. It had reached ₹10.18 crore in Q4 FY26 before rising to ₹11.10 crore in Q1 FY27.
Net profit peaked at ₹6.30 crore in Q1 FY26 and fell to ₹3.44 crore in Q2 FY27, while the EBITDA margin peaked at 38.1% in Q2 FY26 and declined to 18.6% in the latest quarter. The margin was 23.3% in Q1 FY27.
What else did the company announce?
The board approved the standalone unaudited financial results and limited review report for the quarter and half year ended 30 September 2026. The results were to be published in one English and one vernacular newspaper.
Based on the Audit Committee’s recommendation, the board approved and recommended the appointment of Brahmayya & Co. as statutory auditors for five consecutive years from the conclusion of the 45th AGM in 2027 until the conclusion of the 50th AGM in 2032. The appointment is subject to shareholder approval and other statutory requirements.
BSR & Co LLP, the current statutory auditor, will continue until the conclusion of the 45th AGM. The same-day filings did not announce a dividend, fund raise or other appointment.
How did other Electrodes & Refractories companies do?
Seven other Electrodes & Refractories companies had filed for the quarter by 6 November 2026. Their median revenue growth was 3.6%, while Panasonic Carbon India’s revenue declined 48.0%.
All seven peers grew revenue faster than Panasonic Carbon India, and none grew more slowly. Profit was compared for seven peers, of which three reported higher profit.
| Panasonic Carbon India Co revenue growth (YoY) | −48.0% |
|---|---|
| Median of 7 other Electrodes & Refractories companies | +3.6% |
| Companies with slower revenue growth than Panasonic Carbon India Co | 0 of 7 |
| Companies with faster revenue growth than Panasonic Carbon India Co | 7 of 7 |
| Companies whose net profit rose | 3 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Panasonic Carbon India Co's revenue in Q2 FY27?
Revenue from operations was ₹8.91 crore, down 48.0% from ₹17.12 crore in Q2 FY26 (standalone).
Did Panasonic Carbon India Co make a profit in Q2 FY27?
Yes. Net profit was ₹3.44 crore, against a net profit of ₹5.92 crore in Q2 FY26.
What was Panasonic Carbon India Co's EPS in Q2 FY27?
Basic earnings per share were ₹7.18, against ₹12.34 in Q2 FY26.
When did Panasonic Carbon India Co announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for To Consider And Approve Un-Audited Financial Results For The Quarter And Half Year Ended 30Th September, 2026 Amongst Other Matters (BSE, 30 October 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting Held On 05Th November 2026 (BSE, 5 November 2026) · PDF
- Unaudited Financial Results For The Quarter And Half Year Ended 30Th September 2026 (BSE, 5 November 2026) · PDF
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