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Plastiblends India Q2 FY27 results: net profit up 43.1% to ₹10.65 crore, revenue up 18.8%
Plastiblends India Ltd reported standalone Q2 FY27 revenue of ₹228.84 crore, up 18.8% from Q2 FY26, while EBITDA rose 48.6% to ₹16.14 crore and net profit increased 43.1% to ₹10.65 crore. Sequentially, revenue rose 3.3%, but EBITDA fell 26.6% and net profit fell 28.8% from Q1 FY27. The company has no subsidiaries, associates or joint ventures, so consolidated financial statements were not applicable.
Key points
- Q2 FY27 revenue was ₹228.84 crore, up 18.8% from ₹192.61 crore in Q2 FY26 and 3.3% from ₹221.61 crore in Q1 FY27.
- EBITDA was ₹16.14 crore at a 7.1% margin, compared with ₹10.86 crore at a 5.6% margin in Q2 FY26 and ₹21.98 crore at a 9.9% margin in Q1 FY27.
- Net profit was ₹10.65 crore and basic EPS was ₹4.10, compared with a net profit of ₹7.44 crore and basic EPS of ₹2.86 in Q2 FY26.
- H1 FY27 revenue rose 14.8% to ₹450.45 crore, while net profit increased 56.5% to ₹25.6 crore and basic EPS rose 56.6% to ₹9.85.
- Total assets reached ₹625.61 crore as of 30 September 2026, while borrowings fell to ₹15.47 crore from ₹20.0 crore as of 31 March 2026.
How did Plastiblends India perform in Q2 FY27?
Plastiblends India reported standalone revenue of ₹228.84 crore in Q2 FY27, up 18.8% from ₹192.61 crore in Q2 FY26. Against Q1 FY27, revenue rose 3.3% from ₹221.61 crore, while total income increased to ₹231.42 crore from ₹223.98 crore.
EBITDA rose to ₹16.14 crore in Q2 FY27 from ₹10.86 crore a year earlier, with margin increasing 1.5 percentage points to 7.1%. Sequentially, EBITDA fell 26.6% from ₹21.98 crore and margin declined 2.8 percentage points from 9.9%.
Profit before tax was ₹14.53 crore, compared with ₹10.01 crore in Q2 FY26 and ₹20.23 crore in Q1 FY27. Net profit was ₹10.65 crore and basic EPS was ₹4.10; a year earlier, net profit was ₹7.44 crore and basic EPS was ₹2.86. The company said consolidated financial statements were not applicable.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 228.84 | 221.61 | 192.61 | +18.8% | +3.3% |
| Other income | 2.58 | 2.37 | 3.51 | −26.5% | +8.9% |
| Total expenses | 216.89 | 203.75 | 186.11 | +16.5% | +6.4% |
| EBITDA | 16.14 | 21.98 | 10.86 | +48.6% | −26.6% |
| EBITDA margin | 7.1% | 9.9% | 5.6% | +1.5 pp | −2.8 pp |
| Profit before tax | 14.53 | 20.23 | 10.01 | +45.2% | −28.2% |
| Tax | 3.87 | 5.28 | 2.57 | +50.6% | −26.7% |
| Net profit | 10.65 | 14.95 | 7.44 | +43.1% | −28.8% |
| EPS (₹) | 4.10 | 5.75 | 2.86 | +43.4% | −28.7% |
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 Plastiblends India's costs and profit?
Total expenses increased 16.5% to ₹216.89 crore in Q2 FY27 from ₹186.11 crore in Q2 FY26. Cost of materials rose 8.2% by ₹12.94 crore to ₹170.05 crore, employee cost increased 7.8% by ₹0.82 crore to ₹11.30 crore, and other expenses rose 5.6% by ₹1.49 crore to ₹28.04 crore.
Finance costs fell 29.1% by ₹0.16 crore to ₹0.39 crore, while depreciation declined 0.3% by ₹0.01 crore to ₹3.80 crore. Other income decreased 26.5% by ₹0.93 crore to ₹2.58 crore, and there was no exceptional item in either quarter.
Tax expense increased 50.6% by ₹1.30 crore to ₹3.87 crore from ₹2.57 crore in Q2 FY26. Profit before tax rose 45.2% by ₹4.52 crore to ₹14.53 crore, while net profit increased 43.1% by ₹3.21 crore to ₹10.65 crore. The filing did not state reasons for the year-on-year changes in the cost lines or other income.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 170.05 | 157.11 | +12.94 | +8.2% |
| Employee cost | 11.30 | 10.48 | +0.82 | +7.8% |
| Finance costs | 0.39 | 0.55 | −0.16 | −29.1% |
| Depreciation | 3.80 | 3.81 | −0.01 | −0.3% |
| Other expenses | 28.04 | 26.55 | +1.49 | +5.6% |
| Total expenses | 216.89 | 186.11 | +30.78 | +16.5% |
| Other income | 2.58 | 3.51 | −0.93 | −26.5% |
| Tax | 3.87 | 2.57 | +1.30 | +50.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, revenue rose 14.8% by ₹58.21 crore to ₹450.45 crore from ₹392.24 crore in H1 FY26. Total income increased 14.3% by ₹57.13 crore to ₹455.39 crore from ₹398.26 crore.
Profit before tax rose 58.7% by ₹12.86 crore to ₹34.76 crore from ₹21.9 crore. Net profit increased 56.5% by ₹9.24 crore to ₹25.6 crore, while basic EPS rose 56.6% by ₹3.56 to ₹9.85 from ₹6.29.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 450.45 | 392.24 | +14.8% |
| Profit before tax | 34.76 | 21.90 | +58.7% |
| Net profit | 25.60 | 16.36 | +56.5% |
| EPS (₹) | 9.85 | 6.29 | +56.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets stood at ₹625.61 crore against ₹557.76 crore on 31 March 2026, and total equity rose to ₹511.1 crore from ₹449.05 crore. Borrowings fell to ₹15.47 crore from ₹20.0 crore, while cash increased to ₹5.71 crore from ₹4.54 crore.
Inventories rose to ₹182.79 crore from ₹153.7 crore, while trade receivables declined to ₹128.45 crore from ₹129.66 crore. Trade payables fell to ₹21.61 crore from ₹33.45 crore, indicating lower credit extended to suppliers at the reporting date.
Operating cash flow in H1 FY27 was ₹1.15 crore, compared with an outflow of ₹0.63 crore in H1 FY26. Investing cash flow was ₹13.06 crore against an outflow of ₹16.08 crore, while financing cash flow was an outflow of ₹8.51 crore compared with ₹7.18 crore. Capital expenditure was ₹20.08 crore versus ₹20.25 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 625.61 | 557.76 |
| Total equity | 511.10 | 449.05 |
| Borrowings | 15.47 | 20 |
| Cash and equivalents | 5.71 | 4.54 |
| Inventories | 182.79 | 153.70 |
| Trade receivables | 128.45 | 129.66 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 1.15 | −0.63 |
| Cash from investing | 13.06 | −16.08 |
| Cash from financing | −8.51 | −7.18 |
| Capital expenditure | 20.08 | 20.25 |
Source: Company's results filing (XBRL).
How has Plastiblends India done over the last 8 quarters?
Revenue reached its highest level in the reported series at ₹228.84 crore in Q2 FY27, while the lowest was ₹184.37 crore in Q3 FY25. Revenue has risen year on year in each of the last five quarters, although the quarterly increase from Q1 FY27 was 3.3%.
Net profit peaked at ₹14.95 crore in Q1 FY27 and bottomed at ₹6.47 crore in Q3 FY26 before falling to ₹10.65 crore in Q2 FY27. EBITDA margin also peaked at 9.9% in Q1 FY27, compared with 5.2% in Q3 FY26, before easing to 7.1% in Q2 FY27.
How did Plastiblends India shares react?
The stock fell 0.3% within five minutes of the filing appearing after market hours, and was down 2.4% after 15 minutes and 1.9% after 30 minutes. On the reaction day, it closed 8.8% below the previous close; by the next day's close, the decline from the pre-results close was 9.9%, and it widened to 19.0% by five sessions.
The Specialty Chemicals industry median moved 0.2% on the reaction day, 0.9% by the next close and fell 4.4% over five sessions. Plastiblends India underperformed the sector by 9.0 percentage points on the reaction day, 10.8 percentage points by the next close and 14.6 percentage points over five sessions.
Earlier results-day moves were mixed: the stock rose 15.3% on 27 April 2026 and 0.8% on 13 July 2026. It fell 3.2% on 14 January 2026, 3.4% on 16 October 2025, 0.7% on 15 July 2025 and 3.3% on 28 April 2025.
| After the filing | Stock | Specialty Chemicals median |
|---|---|---|
| 5 minutes | −0.3% | |
| 15 minutes | −2.4% | |
| 30 minutes | −1.9% | |
| Reaction day | −8.8% | +0.2% |
| Next day | −9.9% | +0.9% |
| 5 days | −19.0% | −4.4% |
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 |
|---|---|
| 13 July 2026 | +0.8% |
| 27 April 2026 | +15.3% |
| 14 January 2026 | −3.2% |
| 16 October 2025 | −3.4% |
| 15 July 2025 | −0.7% |
| 28 April 2025 | −3.3% |
| 16 January 2025 | −4.0% |
| 11 October 2024 | −3.7% |
Source: MarketPing price-reaction measurement.
How did other Specialty Chemicals companies do?
Fifty-one other Specialty Chemicals companies had filed for the quarter as of 4 November 2026. Their median revenue growth was 28.5%, compared with 18.8% revenue growth for Plastiblends India in Q2 FY27.
Eleven peers grew revenue more slowly than Plastiblends India, while 40 grew faster. Among the 47 peers for which profit was compared, 41 reported higher profit. The comparison covers the other companies and excludes Plastiblends India.
| Plastiblends India revenue growth (YoY) | +18.8% |
|---|---|
| Median of 51 other Specialty Chemicals companies | +28.5% |
| Companies with slower revenue growth than Plastiblends India | 11 of 51 |
| Companies with faster revenue growth than Plastiblends India | 40 of 51 |
| Companies whose net profit rose | 41 of 47 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Plastiblends India's revenue in Q2 FY27?
Revenue from operations was ₹228.84 crore, up 18.8% from ₹192.61 crore in Q2 FY26 (standalone).
Did Plastiblends India make a profit in Q2 FY27?
Yes. Net profit was ₹10.65 crore, against a net profit of ₹7.44 crore in Q2 FY26.
What was Plastiblends India's EPS in Q2 FY27?
Basic earnings per share were ₹4.10, against ₹2.86 in Q2 FY26.
How did Plastiblends India shares react to the Q2 FY27 results?
On the reaction day the stock moved −8.8% from the previous close; the median Specialty Chemicals stock moved +0.2%.
When did Plastiblends India announce its Q2 FY27 results?
On 12 October 2026, in a filing to the BSE.
Sources
- Results-Financial Results For Quarter And Half-Year Ended September 30, 2026 (BSE, 12 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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