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Rajputana Industries Q2 FY27 results: net profit up 90.4% to ₹10.30 crore, revenue up 36.1%
Rajputana Industries Limited reported standalone Q2 FY27 revenue of ₹452.98 crore, up 36.1% from ₹332.87 crore in Q2 FY26. Net profit rose 90.4% to ₹10.30 crore, while EBITDA margin expanded 1.2 percentage points to 5.0% and basic EPS increased to ₹4.64.
Key points
- Revenue was ₹452.98 crore in Q2 FY27, up ₹120.11 crore or 36.1% from Q2 FY26.
- EBITDA was ₹22.43 crore, up ₹9.74 crore or 76.8% year on year, with margin rising from 3.8% to 5.0%.
- Net profit was ₹10.30 crore, up ₹4.89 crore or 90.4%, and basic EPS was ₹4.64 against ₹2.44.
- Against Q1 FY27, revenue rose ₹248.90 crore to ₹452.98 crore, while net profit increased ₹6.61 crore to ₹10.30 crore.
- Total assets were ₹316.46 crore at 30 September 2026, against ₹251.62 crore at 31 March 2026.
How did Rajputana Industries perform in Q2 FY27?
Rajputana Industries reported standalone revenue of ₹452.98 crore for Q2 FY27, the July–September 2026 quarter. Revenue was up ₹120.11 crore, or 36.1%, from ₹332.87 crore in Q2 FY26 and ₹248.90 crore, or 122.0%, from ₹204.08 crore in Q1 FY27. Total income was ₹453.14 crore in the quarter.
EBITDA was ₹22.43 crore, compared with ₹12.69 crore a year ago and ₹9.23 crore in the previous quarter. EBITDA margin rose to 5.0% from 3.8% in Q2 FY26 and 4.5% in Q1 FY27, increases of 1.2 percentage points and 0.5 percentage points, respectively.
Profit before tax was ₹13.91 crore, while tax was ₹3.62 crore and net profit was ₹10.30 crore. Net profit rose ₹4.89 crore, or 90.4%, from ₹5.41 crore in Q2 FY26 and ₹6.61 crore, or 179.1%, from ₹3.69 crore in Q1 FY27. Basic EPS was ₹4.64 against ₹2.44 and ₹1.66, respectively.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 452.98 | 204.08 | 332.87 | +36.1% | +122.0% |
| Other income | 0.16 | 0.06 | 0.16 | +0.0% | +166.7% |
| Total expenses | 439.23 | 199.19 | 325.74 | +34.8% | +120.5% |
| EBITDA | 22.43 | 9.23 | 12.69 | +76.8% | +143.0% |
| EBITDA margin | 5.0% | 4.5% | 3.8% | +1.2 pp | +0.5 pp |
| Profit before tax | 13.91 | 4.96 | 7.28 | +91.1% | +180.4% |
| Tax | 3.62 | 1.27 | 1.87 | +93.6% | +185.0% |
| Net profit | 10.30 | 3.69 | 5.41 | +90.4% | +179.1% |
| EPS (₹) | 4.64 | 1.66 | 2.44 | +90.2% | +179.5% |
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 Rajputana Industries' costs and profit?
Total expenses rose ₹113.49 crore, or 34.8%, to ₹439.23 crore from ₹325.74 crore in Q2 FY26, below the increase in revenue. Cost of materials was the largest expense at ₹467.54 crore, up ₹141.15 crore or 43.2%; employee cost increased ₹1.68 crore or 60.6% to ₹4.45 crore.
Finance costs rose ₹2.98 crore or 74.1% to ₹7 crore, while depreciation increased ₹0.14 crore or 9.1% to ₹1.68 crore. Other expenses were ₹12.19 crore, up ₹2.29 crore or 23.1%, and other income was unchanged at ₹0.16 crore. There was no exceptional item.
Tax expense increased ₹1.75 crore or 93.6% to ₹3.62 crore. Despite the higher costs and tax, profit before tax rose ₹6.63 crore or 91.1% to ₹13.91 crore, while net profit rose ₹4.89 crore or 90.4% to ₹10.30 crore. The filings do not state a reason for the changes in individual cost lines.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 467.54 | 326.39 | +141.15 | +43.2% |
| Employee cost | 4.45 | 2.77 | +1.68 | +60.6% |
| Finance costs | 7 | 4.02 | +2.98 | +74.1% |
| Depreciation | 1.68 | 1.54 | +0.14 | +9.1% |
| Other expenses | 12.19 | 9.90 | +2.29 | +23.1% |
| Total expenses | 439.23 | 325.74 | +113.49 | +34.8% |
| Other income | 0.16 | 0.16 | 0 | +0.0% |
| Tax | 3.62 | 1.87 | +1.75 | +93.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹316.46 crore against ₹251.62 crore at 31 March 2026, and total equity was ₹86.76 crore against ₹76.43 crore. Borrowings rose to ₹73.69 crore from ₹63.12 crore, while cash and cash equivalents increased to ₹1.27 crore from ₹0.32 crore.
Inventories stood at ₹188.63 crore, up from ₹138.45 crore at the previous balance-sheet date. Trade receivables were ₹41.0 crore against ₹28.52 crore, and trade payables were ₹65.45 crore against ₹54.24 crore. The filed balance sheet also reported bank balances other than cash and cash equivalents of ₹214.92 lakh at 30 September 2026.
For H1 FY27, operating cash flow was negative ₹1.35 crore, compared with ₹10.79 crore in H1 FY26. Investing cash flow was negative ₹1.27 crore against negative ₹6.18 crore, financing cash flow was ₹3.57 crore against negative ₹4.59 crore, and capital expenditure was ₹2.17 crore against ₹7.79 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 316.46 | 251.62 |
| Total equity | 86.76 | 76.43 |
| Borrowings | 73.69 | 63.12 |
| Cash and equivalents | 1.27 | 0.32 |
| Inventories | 188.63 | 138.45 |
| Trade receivables | 41 | 28.52 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −1.35 | 10.79 |
| Cash from investing | −1.27 | −6.18 |
| Cash from financing | 3.57 | −4.59 |
| Capital expenditure | 2.17 | 7.79 |
Source: Company's results filing (XBRL).
How has Rajputana Industries done over the last 7 quarters?
Revenue and profit followed a seasonal pattern through the reported quarters, with higher revenue and profit generally accompanied by higher margins. Revenue was lowest at ₹167.11 crore in Q1 FY26 and highest at ₹452.98 crore in Q2 FY27; profit was lowest at ₹2.79 crore in Q1 FY26 and highest at ₹10.30 crore in Q2 FY27.
The latest quarter continued the year-on-year rise in both revenue and profit, with the streak extending across the last three quarters. EBITDA margin reached 5.0% in Q2 FY27, above 4.5% in Q1 FY27 and 4.2% in Q4 FY26. Before the latest increase, the lowest margin in the reported period was 3.4% in Q4 FY25.
What else did the company announce?
The board approved the unaudited financial results for the quarter and half year ended 30 September 2026, along with the limited review report, in its meeting on 31 October 2026. The same-day filing did not report a dividend, fund raise or other appointment.
The company also informed the NSE of the death of Independent Director Vekas Kumar Garg on 30 October 2026. He ceased to be a director and member of the committees with effect from that date, and the board and management expressed condolences to his family.
Quick answers
What was Rajputana Industries' revenue in Q2 FY27?
Revenue from operations was ₹452.98 crore, up 36.1% from ₹332.87 crore in Q2 FY26 (standalone).
Did Rajputana Industries make a profit in Q2 FY27?
Yes. Net profit was ₹10.30 crore, against a net profit of ₹5.41 crore in Q2 FY26.
What was Rajputana Industries' EPS in Q2 FY27?
Basic earnings per share were ₹4.64, against ₹2.44 in Q2 FY26.
When did Rajputana Industries announce its Q2 FY27 results?
On 31 October 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 31 October 2026) · PDF
- Outcome of Board Meeting (NSE, 2 November 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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