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Rapicut Carbides Q2 FY27 results: net profit up 76.8% to ₹2.21 crore, revenue up 98.4%
Rapicut Carbides Ltd reported standalone revenue of ₹31.38 crore and a net profit of ₹2.21 crore for Q2 FY27, nearly double the year-ago quarter on both measures. Against the previous quarter, revenue fell 61.8% and net profit fell 72.9%, while the EBITDA margin eased to 10.3%. The results were announced on 5 November 2026.
Key points
- Q2 FY27 standalone revenue was ₹31.38 crore, up 98.4% from ₹15.82 crore in Q2 FY26.
- EBITDA was ₹3.22 crore at a margin of 10.3%, against ₹1.64 crore and 10.4% a year earlier.
- Net profit was ₹2.21 crore and basic EPS was ₹4.12, against ₹1.25 crore and ₹2.33 in Q2 FY26.
- Revenue fell 61.8% from ₹82.04 crore in Q1 FY27, while net profit fell 72.9% from ₹8.17 crore.
- H1 FY27 revenue was ₹113.42 crore and net profit was ₹10.38 crore, against ₹26.2 crore and a net loss of ₹0.16 crore in H1 FY26.
How did Rapicut Carbides perform in Q2 FY27?
Rapicut Carbides reported standalone revenue of ₹31.38 crore for Q2 FY27, up 98.4% from ₹15.82 crore in the year-ago quarter, while total income rose 98.1% to ₹31.52 crore. EBITDA was ₹3.22 crore, up 96.3% from ₹1.64 crore, and the EBITDA margin was 10.3% against 10.4%. There was no exceptional item in either quarter.
Profit before tax rose 105.8% to ₹2.82 crore from ₹1.37 crore, and net profit increased 76.8% to ₹2.21 crore from ₹1.25 crore. Basic EPS was ₹4.12, up from ₹2.33. Against the previous quarter, revenue fell 61.8% from ₹82.04 crore, EBITDA fell 69.9% from ₹10.70 crore, and net profit fell 72.9% from ₹8.17 crore, with basic EPS at ₹4.12 against ₹15.21.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 31.38 | 82.04 | 15.82 | +98.4% | −61.8% |
| Other income | 0.14 | 0.02 | 0.10 | +40.0% | +600.0% |
| Total expenses | 28.69 | 71.63 | 14.55 | +97.2% | −59.9% |
| EBITDA | 3.22 | 10.70 | 1.64 | +96.3% | −69.9% |
| EBITDA margin | 10.3% | 13.0% | 10.4% | −0.1 pp | −2.7 pp |
| Profit before tax | 2.82 | 10.43 | 1.37 | +105.8% | −73.0% |
| Tax | 0.61 | 2.26 | 0.12 | +408.3% | −73.0% |
| Net profit | 2.21 | 8.17 | 1.25 | +76.8% | −72.9% |
| EPS (₹) | 4.12 | 15.21 | 2.33 | +76.8% | −72.9% |
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 Rapicut Carbides' costs and profit?
Total expenses rose 97.2% to ₹28.69 crore from ₹14.55 crore, mainly on higher cost of materials consumed, which increased 106.5% to ₹30.83 crore from ₹14.93 crore. Other expenses fell 21.1% to ₹1.65 crore from ₹2.09 crore, while employee cost declined 1.8% to ₹1.63 crore from ₹1.66 crore. Finance costs rose 56.5% to ₹0.36 crore from ₹0.23 crore and depreciation rose 28.6% to ₹0.18 crore from ₹0.14 crore.
Other income increased 40.0% to ₹0.14 crore from ₹0.10 crore, and there was no exceptional item in the quarter. Tax expense rose 408.3% to ₹0.61 crore from ₹0.12 crore. The company said that, following taxable profits in the quarter, it utilised eligible brought-forward business losses and unabsorbed depreciation available under the Income-tax Act, 1961, so current tax was provided only on the balance taxable income remaining after that set-off.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 30.83 | 14.93 | +15.90 | +106.5% |
| Employee cost | 1.63 | 1.66 | −0.03 | −1.8% |
| Finance costs | 0.36 | 0.23 | +0.13 | +56.5% |
| Depreciation | 0.18 | 0.14 | +0.04 | +28.6% |
| Other expenses | 1.65 | 2.09 | −0.44 | −21.1% |
| Total expenses | 28.69 | 14.55 | +14.14 | +97.2% |
| Other income | 0.14 | 0.10 | +0.04 | +40.0% |
| Tax | 0.61 | 0.12 | +0.49 | +408.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For the first half of FY27, standalone revenue was ₹113.42 crore, up 332.9% from ₹26.2 crore in H1 FY26, and total income was ₹113.57 crore against ₹26.3 crore. Profit before tax was ₹13.25 crore, compared with a loss of ₹0.04 crore a year earlier, while net profit was ₹10.38 crore against a net loss of ₹0.16 crore.
Basic EPS for the first half was ₹19.33, compared with a loss of ₹0.29 in H1 FY26. The filing states that the results were prepared under Ind AS 34 on interim financial reporting, and the company has one reportable primary business segment, tungsten carbides products.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 113.42 | 26.20 | +332.9% |
| Profit before tax | 13.25 | −0.04 | turned to profit |
| Net profit | 10.38 | −0.16 | turned to profit |
| EPS (₹) | 19.33 | −0.29 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As at 30 September 2026, total assets were ₹101.87 crore against ₹65.54 crore at 31 March 2026, and total equity was ₹32.14 crore against ₹21.72 crore. Inventories rose to ₹74.19 crore from ₹38.71 crore, trade receivables were ₹6.36 crore against ₹6.25 crore, and trade payables were ₹46.77 crore against ₹10.09 crore. Borrowings were ₹10.89 crore against no borrowings at the previous balance sheet date, while cash was ₹0.01 crore against ₹3.0 crore.
For the first half of FY27, net cash used in operating activities was ₹11.72 crore, against net cash from operating activities of ₹0.86 crore in H1 FY26. Net cash used in investing activities was ₹1.65 crore against ₹0.24 crore, and net cash from financing activities was ₹10.38 crore against cash used of ₹0.62 crore. Purchase of property, plant and equipment including capital was ₹1.68 crore, compared with ₹0.27 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 101.87 | 65.54 |
| Total equity | 32.14 | 21.72 |
| Borrowings | 10.89 | 0 |
| Cash and equivalents | 0.01 | 3 |
| Inventories | 74.19 | 38.71 |
| Trade receivables | 6.36 | 6.25 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −11.72 | 0.86 |
| Cash from investing | −1.65 | −0.24 |
| Cash from financing | 10.38 | −0.62 |
| Capital expenditure | 1.68 | 0.27 |
Source: Company's results filing (XBRL).
How has Rapicut Carbides done over the last 8 quarters?
Revenue rose year on year in each of the last five quarters. Across the eight quarters to Q2 FY27, revenue bottomed at ₹10.38 crore in Q1 FY26 and peaked at ₹82.04 crore in Q1 FY27, before falling to ₹31.38 crore in Q2 FY27. Net profit peaked at ₹8.17 crore in Q1 FY27 after a loss of ₹1.41 crore in Q1 FY26, and was ₹2.21 crore in Q2 FY27.
The EBITDA margin moved from a low of -10.8% in Q1 FY26 to a high of 13.0% in Q1 FY27, then eased to 10.3% in Q2 FY27. The latest quarter therefore showed lower revenue and profit than the preceding quarter, though both remained above the year-ago levels, with the margin close to the 10.4% reported in Q2 FY26.
How did other Industrial Products companies do?
Among the Industrial Products companies that had filed for this quarter, 56 were compared, and the median revenue growth was 28.1%. Of the peers for which profit was compared, 38 recorded higher profit. On revenue growth, 52 peers grew slower than Rapicut Carbides and 4 grew faster than the company, whose own revenue growth of 98.4% was above the peer median. The peer data was as of 6 November 2026.
| Rapicut Carbides revenue growth (YoY) | +98.4% |
|---|---|
| Median of 56 other Industrial Products companies | +28.1% |
| Companies with slower revenue growth than Rapicut Carbides | 52 of 56 |
| Companies with faster revenue growth than Rapicut Carbides | 4 of 56 |
| Companies whose net profit rose | 38 of 51 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Rapicut Carbides' revenue in Q2 FY27?
Revenue from operations was ₹31.38 crore, up 98.4% from ₹15.82 crore in Q2 FY26 (standalone).
Did Rapicut Carbides make a profit in Q2 FY27?
Yes. Net profit was ₹2.21 crore, against a net profit of ₹1.25 crore in Q2 FY26.
What was Rapicut Carbides' EPS in Q2 FY27?
Basic earnings per share were ₹4.12, against ₹2.33 in Q2 FY26.
When did Rapicut Carbides announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering The Un-Audited Financial Results For The Quarter Ended 30Th September, 2026. (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On 5Th November, 2026 For Considering Unaudited Financial Results For The Quarter And Half Year Ended 30Th September, 2026. (BSE, 5 November 2026) · PDF
- Results- Unaudited Financial Results For The Quarter And Half Year Ended 30Th September, 2026. (BSE, 5 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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