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Ramco Industries Q2 FY27 results: net profit up 23.8% to ₹50.66 crore, revenue up 19.6%
Ramco Industries Limited reported consolidated revenue of ₹437.28 crore for Q2 FY27, up 19.6% from ₹365.48 crore in the year-ago quarter, with EBITDA rising 46.7% to ₹76.88 crore and net profit increasing 23.8% to ₹50.66 crore. Against the previous quarter, revenue fell 28.8% and net profit declined 41.5%, while the EBITDA margin edged up to 17.6%.
Key points
- Consolidated revenue was ₹437.28 crore in Q2 FY27, up 19.6% from ₹365.48 crore in Q2 FY26 but down 28.8% from ₹613.81 crore in Q1 FY27.
- EBITDA rose 46.7% year on year to ₹76.88 crore, and the EBITDA margin widened by 3.3 percentage points to 17.6%.
- Net profit rose 23.8% to ₹50.66 crore from ₹40.93 crore, with basic EPS at ₹5.85 against ₹4.73 a year earlier.
- For H1 FY27, revenue was ₹1,051.09 crore, up 17.8%, while net profit rose 28.8% to ₹137.25 crore and EPS was ₹15.85.
- Total assets stood at ₹4,968.90 crore on 30 September 2026, with borrowings at ₹6.40 crore and cash at ₹82.64 crore.
How did Ramco Industries perform in Q2 FY27?
On a consolidated basis, Ramco Industries reported revenue of ₹437.28 crore for the July–September 2026 quarter, up ₹71.80 crore or 19.6% from ₹365.48 crore in the year-ago quarter. Total income rose 19.7% to ₹441.51 crore from ₹369.00 crore. On a standalone basis, revenue was ₹344.89 crore, up 26.5% from ₹274.44 crore a year earlier.
EBITDA for the quarter rose 46.7% to ₹76.88 crore from ₹52.41 crore, and the EBITDA margin widened by 3.3 percentage points to 17.6% from 14.3%. Profit before tax rose 62.6% to ₹69.72 crore from ₹42.88 crore, and net profit increased 23.8% to ₹50.66 crore from ₹40.93 crore. Basic EPS was ₹5.85 against ₹4.73.
Against Q1 FY27, revenue fell ₹176.53 crore or 28.8% from ₹613.81 crore, EBITDA declined 26.9% to ₹76.88 crore from ₹105.16 crore, and net profit fell 41.5% to ₹50.66 crore from ₹86.59 crore. The EBITDA margin rose 0.5 percentage points to 17.6%, while the profit margin fell 2.5 percentage points to 11.6%. Basic EPS was ₹5.85 against ₹10.0.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 437.28 | 613.81 | 365.48 | +19.6% | −28.8% |
| Other income | 4.23 | 4.07 | 3.52 | +20.2% | +3.9% |
| Total expenses | 371.79 | 520.92 | 326.35 | +13.9% | −28.6% |
| EBITDA | 76.88 | 105.16 | 52.41 | +46.7% | −26.9% |
| EBITDA margin | 17.6% | 17.1% | 14.3% | +3.3 pp | +0.5 pp |
| Profit before tax | 69.72 | 105.74 | 42.88 | +62.6% | −34.1% |
| Tax | 28.88 | 26.53 | 22.52 | +28.2% | +8.9% |
| Net profit | 50.66 | 86.59 | 40.93 | +23.8% | −41.5% |
| EPS (₹) | 5.85 | 10.00 | 4.73 | +23.7% | −41.5% |
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 Ramco Industries' costs and profit?
Total expenses rose ₹45.44 crore or 13.9% to ₹371.79 crore from ₹326.35 crore in the year-ago quarter. Cost of materials was up ₹40.93 crore or 20.6% at ₹239.74 crore against ₹198.81 crore, employee cost rose ₹9.80 crore or 25.3% to ₹48.53 crore from ₹38.73 crore, and other expenses increased ₹20.68 crore or 24.4% to ₹105.43 crore from ₹84.75 crore.
Finance costs fell ₹2.33 crore or 58.8% to ₹1.63 crore from ₹3.96 crore, while depreciation was up ₹0.44 crore or 4.7% at ₹9.76 crore against ₹9.32 crore. Other income rose ₹0.71 crore or 20.2% to ₹4.23 crore from ₹3.52 crore. Tax expense rose ₹6.36 crore or 28.2% to ₹28.88 crore from ₹22.52 crore.
There was no exceptional item in Q2 FY27, against a gain of ₹0.23 crore in the year-ago quarter. Against the previous quarter, total expenses fell ₹149.13 crore or 28.6% to ₹371.79 crore, with cost of materials down ₹22.59 crore, other expenses down ₹28.98 crore and employee cost down ₹2.34 crore. Q1 FY27 included a gain of ₹8.78 crore from an exceptional item.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 239.74 | 198.81 | +40.93 | +20.6% |
| Employee cost | 48.53 | 38.73 | +9.80 | +25.3% |
| Finance costs | 1.63 | 3.96 | −2.33 | −58.8% |
| Depreciation | 9.76 | 9.32 | +0.44 | +4.7% |
| Other expenses | 105.43 | 84.75 | +20.68 | +24.4% |
| Total expenses | 371.79 | 326.35 | +45.44 | +13.9% |
| Other income | 4.23 | 3.52 | +0.71 | +20.2% |
| Tax | 28.88 | 22.52 | +6.36 | +28.2% |
| Exceptional items | none | +0.23 (gain) |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, consolidated revenue was ₹1,051.09 crore, up ₹158.78 crore or 17.8% from ₹892.31 crore in H1 FY26. Total income rose 17.8% to ₹1,059.39 crore from ₹898.94 crore.
Profit before tax increased 75.1% to ₹175.46 crore from ₹100.21 crore, and net profit rose 28.8% to ₹137.25 crore from ₹106.56 crore. Basic EPS for the half year was ₹15.85 against ₹12.3 a year earlier, an increase of ₹3.55 or 28.9%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,051 | 892.31 | +17.8% |
| Profit before tax | 175.46 | 100.21 | +75.1% |
| Net profit | 137.25 | 106.56 | +28.8% |
| EPS (₹) | 15.85 | 12.30 | +28.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As at 30 September 2026, total assets were ₹4,968.90 crore against ₹4,977.01 crore at 31 March 2026, and total equity rose to ₹4,640.85 crore from ₹4,521.99 crore. Borrowings fell to ₹6.40 crore from ₹169.20 crore, while cash and cash equivalents declined to ₹82.64 crore from ₹114.69 crore.
Inventories stood at ₹549.70 crore against ₹630.80 crore, trade receivables were ₹97.62 crore against ₹87.75 crore, and trade payables were ₹47.20 crore against ₹28.43 crore. In H1 FY27, net cash from operating activities was ₹196.82 crore, up from ₹98.77 crore in H1 FY26. Investing cash flow was an outflow of ₹45.84 crore against ₹6.82 crore, and financing cash flow was an outflow of ₹178.94 crore against ₹96.13 crore. Capital expenditure was ₹45.39 crore against ₹18.01 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 4,969 | 4,977 |
| Total equity | 4,641 | 4,522 |
| Borrowings | 6.40 | 169.20 |
| Cash and equivalents | 82.64 | 114.69 |
| Inventories | 549.70 | 630.80 |
| Trade receivables | 97.62 | 87.75 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 196.82 | 98.77 |
| Cash from investing | −45.84 | −6.82 |
| Cash from financing | −178.94 | −96.13 |
| Capital expenditure | 45.39 | 18.01 |
Source: Company's results filing (XBRL).
How has Ramco Industries done over the last 8 quarters?
Revenue rose year on year in each of the last five quarters, and profit rose year on year in each of the last six quarters. Revenue reached its latest peak of ₹613.81 crore in Q1 FY27 and then eased to ₹437.28 crore in Q2 FY27. The lowest revenue in the series was ₹343.68 crore in Q3 FY25.
Net profit moved from a low of ₹35.71 crore in Q4 FY25 to a high of ₹112.07 crore in Q3 FY26, before easing to ₹86.59 crore in Q1 FY27 and ₹50.66 crore in Q2 FY27. The EBITDA margin has moved higher, from 10.8% in Q3 FY25 to 17.6% in Q2 FY27, the highest reading in the series.
Which businesses drove the quarter?
Building Products was the largest reported segment, with revenue of ₹379.07 crore, up 20.3% from ₹315.11 crore in the year-ago quarter, and segment EBIT of ₹54.47 crore against ₹31.57 crore. The segment EBIT margin was 14.4%.
Textiles reported revenue of ₹54.93 crore, up 16.2% from ₹47.29 crore, with EBIT of ₹4.70 crore against ₹1.00 crore and an EBIT margin of 8.6%. Windmills revenue was ₹9.49 crore, up 1.5% from ₹9.35 crore, while EBIT was ₹6.98 crore against ₹7.18 crore, with an EBIT margin of 73.6%. Unallocated revenue was ₹10.36 crore against ₹10.48 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| BUILDING PRODUCTS | 379.07 | +20.3% | 54.47 | 14.4% |
| TEXTILES | 54.93 | +16.2% | 4.70 | 8.6% |
| WINDMILLS | 9.49 | +1.5% | 6.98 | 73.6% |
| UNALLOCATED | 10.36 | −1.1% | 0 | 0.0% |
Source: Company's results filing (XBRL segment data).
How did Ramco Industries shares react?
The filing was announced on 4 November 2026 and traded in market hours. From the price when the filing appeared, the stock was up 2.4% after five minutes, 2.8% after 15 minutes and 1.6% after 30 minutes. On the reaction day, it closed 3.9% above its previous close of ₹291.60, against a base price of ₹297.50.
By the next day's close, the stock was up 7.6% from its pre-results close. The median move of the other Other Construction Materials stocks was 1.3% on the reaction day and 2.4% by the next day's close, leaving Ramco Industries ahead by 2.6 percentage points and 5.3 percentage points on those closes.
Past results-day moves were mixed. The shares fell 0.7% on 27 July 2026 and rose 5.5% on 27 May 2026. Earlier reactions included a fall of 6.0% on 5 November 2025, a rise of 4.6% on 11 November 2024, and moves of 0.9% on 4 August 2025, -0.9% on 23 May 2025 and -2.0% on 10 February 2025.
| After the filing | Stock | Other Construction Materials median |
|---|---|---|
| 5 minutes | +2.4% | |
| 15 minutes | +2.8% | |
| 30 minutes | +1.6% | |
| Reaction day | +3.9% | +1.3% |
| Next day | +7.6% | +2.4% |
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 |
|---|---|
| 27 July 2026 | −0.7% |
| 27 May 2026 | +5.5% |
| 11 February 2026 | −0.3% |
| 5 November 2025 | −6.0% |
| 4 August 2025 | +0.9% |
| 23 May 2025 | −0.9% |
| 10 February 2025 | −2.0% |
| 11 November 2024 | +4.6% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Ramco Industries' revenue in Q2 FY27?
Revenue from operations was ₹437.28 crore, up 19.6% from ₹365.48 crore in Q2 FY26 (consolidated).
Did Ramco Industries make a profit in Q2 FY27?
Yes. Net profit was ₹50.66 crore, against a net profit of ₹40.93 crore in Q2 FY26.
What was Ramco Industries' EPS in Q2 FY27?
Basic earnings per share were ₹5.85, against ₹4.73 in Q2 FY26.
How did Ramco Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved +3.9% from the previous close; the median Other Construction Materials stock moved +1.3%.
When did Ramco Industries announce its Q2 FY27 results?
On 4 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering Inter Alia The Unaudited Standalone And Consolidated Financial Results For The Quarter And Six Months Ended 30.9.2026. (BSE, 26 October 2026) · PDF
- Board Meeting Outcome for Unaudited Financial Results For The Quarter And Six Months Ended 30.9.2026 (BSE, 4 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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