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Raghav Productivity Enhancers Q2 FY27 results: net profit up 56.3% to ₹21.63 crore, revenue up 46.0%
Raghav Productivity Enhancers Limited reported consolidated revenue of ₹92.81 crore in Q2 FY27, up 46.0% from ₹63.59 crore in Q2 FY26. EBITDA rose 49.3% to ₹27.87 crore, while net profit increased 56.3% to ₹21.63 crore and basic EPS rose to ₹4.71. The results were approved by the board on 16 October 2026.
Key points
- Consolidated Q2 FY27 revenue was ₹92.81 crore, up ₹29.22 crore or 46.0% year on year from ₹63.59 crore.
- EBITDA rose to ₹27.87 crore from ₹18.67 crore, while EBITDA margin increased to 30.0% from 29.4%.
- Net profit was ₹21.63 crore, up ₹7.79 crore or 56.3% from ₹13.84 crore; basic EPS rose ₹1.69 to ₹4.71.
- Against Q1 FY27, revenue rose ₹5.90 crore to ₹92.81 crore and net profit rose ₹2.06 crore to ₹21.63 crore.
- H1 FY27 revenue was ₹179.79 crore and net profit was ₹41.21 crore, up 47.3% and 61.5% respectively from H1 FY26.
How did Raghav Productivity Enhancers perform in Q2 FY27?
Raghav Productivity Enhancers reported consolidated revenue of ₹92.81 crore in Q2 FY27, up ₹29.22 crore or 46.0% from ₹63.59 crore in Q2 FY26. EBITDA was ₹27.87 crore, up ₹9.20 crore or 49.3%, and EBITDA margin increased 0.6 percentage points to 30.0%. Net profit rose ₹7.79 crore or 56.3% to ₹21.63 crore, while basic EPS increased ₹1.69 to ₹4.71.
Sequentially, revenue rose ₹5.90 crore or 6.8% from ₹86.91 crore in Q1 FY27. EBITDA increased ₹2.13 crore or 8.3% to ₹27.87 crore, and margin was 30.0%, up 0.4 percentage points. Net profit rose ₹2.06 crore or 10.5% to ₹21.63 crore, and basic EPS increased ₹0.45 to ₹4.71. On a standalone basis, revenue was ₹39.21 crore and profit after tax was ₹8.24 crore, against ₹9.05 crore before tax.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 92.81 | 86.91 | 63.59 | +46.0% | +6.8% |
| Other income | 1.10 | 0.98 | 0.62 | +77.4% | +12.2% |
| Total expenses | 66.80 | 63.15 | 46.86 | +42.6% | +5.8% |
| EBITDA | 27.87 | 25.74 | 18.67 | +49.3% | +8.3% |
| EBITDA margin | 30.0% | 29.6% | 29.4% | +0.6 pp | +0.4 pp |
| Profit before tax | 27.12 | 24.74 | 17.35 | +56.3% | +9.6% |
| Tax | 5.48 | 5.17 | 3.51 | +56.1% | +6.0% |
| Net profit | 21.63 | 19.57 | 13.84 | +56.3% | +10.5% |
| EPS (₹) | 4.71 | 4.26 | 3.02 | +56.0% | +10.6% |
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 Raghav Productivity Enhancers' costs and profit?
Total expenses increased ₹19.94 crore or 42.6% from ₹46.86 crore in Q2 FY26 to ₹66.80 crore. Cost of materials rose ₹2.20 crore or 12.2% to ₹20.30 crore, employee cost increased ₹1.06 crore or 61.6% to ₹2.78 crore, and other expenses rose ₹14.44 crore or 57.8% to ₹39.43 crore. Finance costs fell ₹0.03 crore or 15.8% to ₹0.16 crore, while depreciation declined ₹0.05 crore or 2.9% to ₹1.70 crore.
Other income increased ₹0.48 crore or 77.4% from ₹0.62 crore to ₹1.10 crore. There was no exceptional item in either quarter. Tax expense rose ₹1.97 crore or 56.1% from ₹3.51 crore to ₹5.48 crore. These figures show the reported changes in the cost lines and other income, while the filing does not state reasons for the movements.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 20.30 | 18.10 | +2.20 | +12.2% |
| Employee cost | 2.78 | 1.72 | +1.06 | +61.6% |
| Finance costs | 0.16 | 0.19 | −0.03 | −15.8% |
| Depreciation | 1.70 | 1.75 | −0.05 | −2.9% |
| Other expenses | 39.43 | 24.99 | +14.44 | +57.8% |
| Total expenses | 66.80 | 46.86 | +19.94 | +42.6% |
| Other income | 1.10 | 0.62 | +0.48 | +77.4% |
| Tax | 5.48 | 3.51 | +1.97 | +56.1% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, consolidated revenue was ₹179.79 crore, up ₹57.76 crore or 47.3% from ₹122.03 crore in H1 FY26. Total income increased 47.3% to ₹181.81 crore from ₹123.46 crore. Profit before tax rose ₹19.69 crore or 61.2% to ₹51.86 crore from ₹32.17 crore.
Net profit for the first half was ₹41.21 crore, up ₹15.69 crore or 61.5% from ₹25.52 crore in H1 FY26. Basic EPS increased 61.3% to ₹8.97 from ₹5.56. The results include the wholly owned subsidiary Mis Raghav Productivity Solutions Private Limited.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 179.79 | 122.03 | +47.3% |
| Profit before tax | 51.86 | 32.17 | +61.2% |
| Net profit | 41.21 | 25.52 | +61.5% |
| EPS (₹) | 8.97 | 5.56 | +61.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹328.96 crore, compared with ₹283.91 crore at 31 March 2026. Total equity rose to ₹281.58 crore from ₹244.52 crore, while borrowings fell to ₹4.58 crore from ₹5.41 crore. Cash and cash equivalents were ₹7.51 crore, up from ₹7.25 crore. Inventories increased to ₹68.08 crore from ₹57.45 crore, trade receivables to ₹78.27 crore from ₹58.22 crore, and trade payables to ₹30.19 crore from ₹21.02 crore.
H1 FY27 operating cash flow was ₹18.36 crore, compared with ₹16.29 crore in H1 FY26. Investing cash flow was negative ₹12.67 crore against negative ₹10.30 crore, financing cash flow was negative ₹5.43 crore against negative ₹5.60 crore, and capital expenditure was ₹12.41 crore compared with ₹3.86 crore. The filing provides no closing-cash figure for either half-year period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 328.96 | 283.91 |
| Total equity | 281.58 | 244.52 |
| Borrowings | 4.58 | 5.41 |
| Cash and equivalents | 7.51 | 7.25 |
| Inventories | 68.08 | 57.45 |
| Trade receivables | 78.27 | 58.22 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 18.36 | 16.29 |
| Cash from investing | −12.67 | −10.30 |
| Cash from financing | −5.43 | −5.60 |
| Capital expenditure | 12.41 | 3.86 |
Source: Company's results filing (XBRL).
How has Raghav Productivity Enhancers done over the last 8 quarters?
Revenue rose year on year in each of the last eight quarters, while profit rose year on year in each of the last four quarters. Revenue increased from ₹55.04 crore in Q3 FY25 to ₹92.81 crore in Q2 FY27, and net profit increased from ₹9.81 crore to ₹21.63 crore over the same span.
EBITDA margin reached its highest level of 30.1% in Q4 FY26 and eased to 30.0% in Q2 FY27, the latest quarter. Within the period shown, revenue bottomed at ₹50.65 crore in Q4 FY25 and net profit bottomed at ₹9.81 crore in Q3 FY25. Both revenue and profit continued upward in the latest quarter.
How did Raghav Productivity Enhancers shares react?
The filing appeared in the market, and the stock was down 0.1% after 5 minutes and down 0.6% after 15 minutes from the price when the filing appeared. From the previous close of ₹1,764.4, the reaction-day close was up 2.2%. By the next day's close, the stock was up 1.5% from its pre-results close, while by the fifth session it was down 3.1%.
The Electrodes & Refractories sector median moved up 0.6% on the reaction day, fell 1.9% by the next close and fell 6.5% by the fifth session. Raghav Productivity Enhancers therefore exceeded the sector median by 1.6 percentage points on the reaction day, 3.3 percentage points by the next close and 3.4 percentage points by the fifth session. The Nifty Microcap 250 moved up 0.7%, fell 1.0% and fell 6.4% over the same closes.
Earlier reaction-day moves were mixed: the stock was up 3.2% on 15 July 2026, fell 4.4% on 24 April 2026 and fell 7.3% on 13 January 2026. It was also up 0.8% on 27 October 2025, fell 3.8% on 21 July 2025, up 0.8% on 20 January 2025 and fell 5.2% on 18 October 2024.
| After the filing | Stock | Electrodes & Refractories median |
|---|---|---|
| 5 minutes | −0.1% | |
| 15 minutes | −0.6% | |
| Reaction day | +2.2% | +0.6% |
| Next day | +1.5% | −1.9% |
| 5 days | −3.1% | −6.5% |
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 |
|---|---|
| 15 July 2026 | +3.2% |
| 24 April 2026 | −4.4% |
| 13 January 2026 | −7.3% |
| 27 October 2025 | +0.8% |
| 21 July 2025 | −3.8% |
| 20 January 2025 | +0.8% |
| 18 October 2024 | −5.2% |
Source: MarketPing price-reaction measurement.
How did other Electrodes & Refractories companies do?
Six other Electrodes & Refractories companies that had filed for the quarter were compared with Raghav Productivity Enhancers as of 4 November 2026. Their median revenue growth was 0.7%, while all six grew more slowly than Raghav Productivity Enhancers and none grew faster. Profit was compared for all six peers, of which two reported higher profit.
| Raghav Productivity Enhancers revenue growth (YoY) | +46.0% |
|---|---|
| Median of 6 other Electrodes & Refractories companies | +0.7% |
| Companies with slower revenue growth than Raghav Productivity Enhancers | 6 of 6 |
| Companies with faster revenue growth than Raghav Productivity Enhancers | 0 of 6 |
| Companies whose net profit rose | 2 of 6 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Raghav Productivity Enhancers' revenue in Q2 FY27?
Revenue from operations was ₹92.81 crore, up 46.0% from ₹63.59 crore in Q2 FY26 (consolidated).
Did Raghav Productivity Enhancers make a profit in Q2 FY27?
Yes. Net profit was ₹21.63 crore, against a net profit of ₹13.84 crore in Q2 FY26.
What was Raghav Productivity Enhancers' EPS in Q2 FY27?
Basic earnings per share were ₹4.71, against ₹3.02 in Q2 FY26.
How did Raghav Productivity Enhancers shares react to the Q2 FY27 results?
On the reaction day the stock moved +2.2% from the previous close; the median Electrodes & Refractories stock moved +0.6%.
When did Raghav Productivity Enhancers announce its Q2 FY27 results?
On 16 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Meeting To Be Held On 16 October, 2026 (BSE, 9 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 16 October, 2026 (BSE, 16 October 2026) · PDF
- Financial Result For Quarter/Half-Year Ended 30Th September, 2026 (BSE, 16 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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