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Poddar Pigments Q2 FY27 results: net profit down 12.5% to ₹3.15 crore, revenue up 3.0%
Poddar Pigments Limited reported standalone Q2 FY27 revenue of ₹94.13 crore, up 3.0% from Q2 FY26. EBITDA fell 25.9% to ₹4.83 crore and the EBITDA margin declined 2.0 percentage points to 5.1%, while net profit fell 12.5% to ₹3.15 crore.
Key points
- Q2 FY27 revenue was ₹94.13 crore, up ₹2.72 crore or 3.0% from Q2 FY26 and ₹4 crore or 4.4% from Q1 FY27.
- EBITDA was ₹4.83 crore in Q2 FY27, down ₹1.69 crore or 25.9% year on year and ₹0.53 crore or 9.9% sequentially.
- The EBITDA margin fell to 5.1% from 7.1% in Q2 FY26 and 5.9% in Q1 FY27.
- Net profit was ₹3.15 crore, down ₹0.45 crore or 12.5% year on year and ₹1.50 crore or 32.3% from Q1 FY27; basic EPS was ₹2.97.
- H1 FY27 revenue was ₹184.26 crore, up 0.9%, while profit after tax was ₹7.8 crore, up 0.5% from H1 FY26.
How did Poddar Pigments perform in Q2 FY27?
Poddar Pigments reported standalone revenue of ₹94.13 crore in Q2 FY27, up ₹2.72 crore or 3.0% from ₹91.41 crore in Q2 FY26. Against Q1 FY27, revenue rose ₹4 crore or 4.4% from ₹90.13 crore. Total income was ₹96.84 crore, compared with ₹92.33 crore a year earlier and ₹95.03 crore in the previous quarter. These are standalone figures, and no consolidated figures were provided.
EBITDA was ₹4.83 crore in Q2 FY27, down ₹1.69 crore or 25.9% from ₹6.52 crore in Q2 FY26 and ₹0.53 crore or 9.9% from ₹5.36 crore in Q1 FY27. The EBITDA margin was 5.1%, compared with 7.1% a year earlier and 5.9% in the previous quarter. Profit before tax fell to ₹4.44 crore from ₹5.03 crore and ₹7.17 crore, respectively.
Net profit was ₹3.15 crore in Q2 FY27, down ₹0.45 crore or 12.5% from ₹3.60 crore in Q2 FY26 and ₹1.50 crore or 32.3% from ₹4.65 crore in Q1 FY27. Basic EPS was ₹2.97, compared with ₹3.39 a year earlier and ₹4.38 in the previous quarter. The profit after tax margin was 3.4%, down from 3.9% year on year and 5.2% sequentially.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 94.13 | 90.13 | 91.41 | +3.0% | +4.4% |
| Other income | 2.72 | 4.90 | 0.92 | +195.7% | −44.5% |
| Total expenses | 92.40 | 87.87 | 87.30 | +5.8% | +5.2% |
| EBITDA | 4.83 | 5.36 | 6.52 | −25.9% | −9.9% |
| EBITDA margin | 5.1% | 5.9% | 7.1% | −2.0 pp | −0.8 pp |
| Profit before tax | 4.44 | 7.17 | 5.03 | −11.7% | −38.1% |
| Tax | 1.28 | 2.52 | 1.44 | −11.1% | −49.2% |
| Net profit | 3.15 | 4.65 | 3.60 | −12.5% | −32.3% |
| EPS (₹) | 2.97 | 4.38 | 3.39 | −12.4% | −32.2% |
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 Poddar Pigments' costs and profit?
Total expenses rose to ₹92.40 crore in Q2 FY27 from ₹87.30 crore in Q2 FY26, an increase of ₹5.10 crore or 5.8%. Cost of materials increased ₹1.30 crore or 2.0% to ₹67.73 crore, depreciation rose ₹0.71 crore or 30.9% to ₹3.01 crore, and other expenses increased ₹0.22 crore or 1.8% to ₹12.63 crore. Employee cost declined ₹0.18 crore or 1.7% to ₹10.15 crore, while finance costs fell ₹0.02 crore or 16.7% to ₹0.10 crore.
Other income increased ₹1.80 crore or 195.7% to ₹2.72 crore from ₹0.92 crore in Q2 FY26, and total income rose ₹4.51 crore or 4.9% to ₹96.84 crore. Despite the increase in other income, EBITDA fell ₹1.69 crore or 25.9% to ₹4.83 crore. Tax expense declined ₹0.16 crore or 11.1% to ₹1.28 crore, but profit before tax fell ₹0.59 crore or 11.7% to ₹4.44 crore. There was no exceptional item in either quarter.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 67.73 | 66.43 | +1.30 | +2.0% |
| Employee cost | 10.15 | 10.33 | −0.18 | −1.7% |
| Finance costs | 0.10 | 0.12 | −0.02 | −16.7% |
| Depreciation | 3.01 | 2.30 | +0.71 | +30.9% |
| Other expenses | 12.63 | 12.41 | +0.22 | +1.8% |
| Total expenses | 92.40 | 87.30 | +5.10 | +5.8% |
| Other income | 2.72 | 0.92 | +1.80 | +195.7% |
| Tax | 1.28 | 1.44 | −0.16 | −11.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, standalone revenue was ₹184.26 crore, up ₹1.59 crore or 0.9% from ₹182.67 crore in H1 FY26. Total income increased ₹6.21 crore or 3.3% to ₹191.87 crore from ₹185.66 crore. Profit before tax rose ₹0.37 crore or 3.3% to ₹11.6 crore from ₹11.23 crore.
Profit after tax for the first half was ₹7.8 crore, compared with ₹7.76 crore in H1 FY26, an increase of ₹0.04 crore or 0.5%. Basic EPS was ₹7.35, up ₹0.03 from ₹7.32. The company’s filing states that these unaudited results for the quarter and half year ended 30 September 2026 were approved by the board on 31 October 2026 and were subject to a limited review by the statutory auditors.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 184.26 | 182.67 | +0.9% |
| Profit before tax | 11.60 | 11.23 | +3.3% |
| Net profit | 7.80 | 7.76 | +0.5% |
| EPS (₹) | 7.35 | 7.32 | +0.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹444.47 crore, compared with ₹411.99 crore at 31 March 2026. Total equity increased to ₹377.66 crore from ₹350.62 crore, while borrowings rose to ₹8.67 crore from ₹6.11 crore. Cash and cash equivalents were ₹6.57 crore against ₹3.49 crore at the previous balance sheet date. Inventories increased to ₹84.13 crore from ₹67.98 crore, while trade receivables fell to ₹70.98 crore from ₹86.65 crore; trade payables declined to ₹22.85 crore from ₹30.98 crore.
Operating cash flow in H1 FY27 was ₹6.79 crore, compared with ₹41.84 crore in H1 FY26. Investing cash flow was negative ₹1.68 crore against negative ₹18.15 crore, and financing cash flow was negative ₹2.02 crore against negative ₹16.8 crore. Capital expenditure was ₹5.97 crore in H1 FY27, compared with ₹6.79 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 444.47 | 411.99 |
| Total equity | 377.66 | 350.62 |
| Borrowings | 8.67 | 6.11 |
| Cash and equivalents | 6.57 | 3.49 |
| Inventories | 84.13 | 67.98 |
| Trade receivables | 70.98 | 86.65 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 6.79 | 41.84 |
| Cash from investing | −1.68 | −18.15 |
| Cash from financing | −2.02 | −16.80 |
| Capital expenditure | 5.97 | 6.79 |
Source: Company's results filing (XBRL).
How has Poddar Pigments done over the last 8 quarters?
Revenue reached a quarterly high of ₹100.45 crore in Q4 FY26 before falling to ₹90.13 crore in Q1 FY27 and recovering to ₹94.13 crore in Q2 FY27. The lowest quarterly revenue in the series was ₹87.17 crore in Q4 FY25. Profit after tax was highest at ₹5.14 crore in Q4 FY25 and lowest at ₹2.25 crore in Q3 FY26, before ending the latest quarter at ₹3.15 crore.
The EBITDA margin peaked at 8.1% in Q4 FY25 and fell to 4.3% in Q4 FY26. It subsequently rose to 5.9% in Q1 FY27 before declining to 5.1% in Q2 FY27. Revenue moved higher sequentially in the latest quarter, while profit after tax and the EBITDA margin moved lower.
How did Poddar Pigments shares react?
The filing was released after market hours on 31 October 2026. Poddar Pigments’ shares fell 3.0% on the reaction day from the previous close and were down 4.9% by the next day’s close from that same pre-results close. The Dyes And Pigments industry median rose 2.1% on the reaction day and 1.0% by the next day’s close, leaving Poddar Pigments 5.1 percentage points behind the sector on the reaction day and 5.8 percentage points behind by the next day.
Earlier result-day moves were mixed: the stock was unchanged on 14 August 2026, fell 4.8% on 15 May 2026, fell 3.1% on 13 February 2026 and fell 2.5% on 6 November 2025. It had risen 3.4% on 11 August 2025, while the moves on 20 May 2025, 12 February 2025 and 4 November 2024 were negative.
| After the filing | Stock | Dyes And Pigments median |
|---|---|---|
| Reaction day | −3.0% | +2.1% |
| Next day | −4.9% | +1.0% |
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 |
|---|---|
| 14 August 2026 | +0.0% |
| 15 May 2026 | −4.8% |
| 13 February 2026 | −3.1% |
| 6 November 2025 | −2.5% |
| 11 August 2025 | +3.4% |
| 20 May 2025 | −1.6% |
| 12 February 2025 | −3.7% |
| 4 November 2024 | −6.3% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Poddar Pigments' revenue in Q2 FY27?
Revenue from operations was ₹94.13 crore, up 3.0% from ₹91.41 crore in Q2 FY26 (standalone).
Did Poddar Pigments make a profit in Q2 FY27?
Yes. Net profit was ₹3.15 crore, against a net profit of ₹3.60 crore in Q2 FY26.
What was Poddar Pigments' EPS in Q2 FY27?
Basic earnings per share were ₹2.97, against ₹3.39 in Q2 FY26.
How did Poddar Pigments shares react to the Q2 FY27 results?
On the reaction day the stock moved −3.0% from the previous close; the median Dyes And Pigments stock moved +2.1%.
When did Poddar Pigments announce its Q2 FY27 results?
On 31 October 2026, in a filing to the BSE.
Sources
- Board Meeting Outcome for Outcome Of Board Meeting (BSE, 31 October 2026) · PDF
- Un-Audited Financial Results Of The Company For The Quarter And Half Year Ended 30Th September, 2026 (BSE, 31 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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