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Sahyadri Industries Q2 FY27 results: net profit ₹12.28 crore vs ₹2.71 crore, revenue up 17.5%
Sahyadri Industries Limited reported standalone Q2 FY27 revenue of ₹146.79 crore, up 17.5% from Q2 FY26, while profit after tax rose to ₹12.28 crore from ₹2.71 crore. EBITDA was ₹20.65 crore at a 14.1% margin, compared with ₹8.94 crore and 7.2% in the year-ago quarter, while basic EPS was ₹11.22.
Key points
- Standalone Q2 FY27 revenue was ₹146.79 crore, up 17.5% from ₹124.96 crore in Q2 FY26.
- EBITDA was ₹20.65 crore in Q2 FY27, up 131.0% from ₹8.94 crore, with margin at 14.1% versus 7.2%.
- Profit after tax was ₹12.28 crore, up 353.1% from ₹2.71 crore, and basic EPS was ₹11.22 versus ₹2.48.
- H1 FY27 revenue was ₹405.37 crore, up 19.4% from ₹339.54 crore in H1 FY26, while PAT was ₹38.80 crore versus ₹13.48 crore.
- At the 30 September 2026 balance-sheet date, total assets were ₹560.07 crore, total equity was ₹439.99 crore and borrowings were ₹15.16 crore.
How did Sahyadri Industries perform in Q2 FY27?
Sahyadri Industries reported standalone revenue of ₹146.79 crore for Q2 FY27, up 17.5% from ₹124.96 crore in Q2 FY26. Total income was ₹148.53 crore against ₹126.34 crore, while EBITDA rose 131.0% to ₹20.65 crore from ₹8.94 crore. EBITDA margin expanded to 14.1% from 7.2%, and the profit margin was 8.4% against 2.2%.
Against Q1 FY27, revenue fell 43.2% to ₹146.79 crore from ₹258.58 crore and EBITDA declined 47.1% to ₹20.65 crore from ₹39.04 crore. The EBITDA margin was 14.1%, down 1.0 percentage point from 15.1%. PAT was ₹12.28 crore, down 53.7% from ₹26.52 crore, and basic EPS was ₹11.22 versus ₹24.22. The results are standalone; no consolidated figure is given.
Q2 FY27 PBT was ₹16.44 crore, compared with ₹3.65 crore in Q2 FY26 and ₹35.50 crore in Q1 FY27. PAT was ₹12.28 crore, compared with ₹2.71 crore in Q2 FY26 and ₹26.52 crore in Q1 FY27. Basic EPS was ₹11.22, compared with ₹2.48 in Q2 FY26 and ₹24.22 in Q1 FY27. The board approved the unaudited results on 31 October 2026, and the statutory auditors issued an unmodified review report.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 146.79 | 258.58 | 124.96 | +17.5% | −43.2% |
| Other income | 1.74 | 2.67 | 1.38 | +26.1% | −34.8% |
| Total expenses | 132.09 | 225.75 | 122.69 | +7.7% | −41.5% |
| EBITDA | 20.65 | 39.04 | 8.94 | +131.0% | −47.1% |
| EBITDA margin | 14.1% | 15.1% | 7.2% | +6.9 pp | −1.0 pp |
| Profit before tax | 16.44 | 35.50 | 3.65 | +350.4% | −53.7% |
| Tax | 4.16 | 8.98 | 0.94 | +342.6% | −53.7% |
| Net profit | 12.28 | 26.52 | 2.71 | +353.1% | −53.7% |
| EPS (₹) | 11.22 | 24.22 | 2.48 | +352.4% | −53.7% |
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 Sahyadri Industries' costs and profit?
Total expenses were ₹132.09 crore in Q2 FY27, up ₹9.40 crore or 7.7% from ₹122.69 crore in Q2 FY26. Cost of materials consumed was ₹96.30 crore, up ₹32.53 crore or 51.0%, while employee benefit expense was ₹12.34 crore, up ₹0.75 crore or 6.5%. Other expenditure was ₹42.32 crore, up ₹2.33 crore or 5.8%.
Finance costs fell to ₹0.55 crore from ₹0.83 crore, a decrease of ₹0.28 crore or 33.7%, while depreciation and amortisation expense declined to ₹5.40 crore from ₹5.84 crore, a decrease of ₹0.44 crore or 7.5%. Other income was ₹1.74 crore, up ₹0.36 crore or 26.1%. There was no exceptional item in Q2 FY27.
Tax expense was ₹4.16 crore, up ₹3.22 crore or 342.6% from ₹0.94 crore in Q2 FY26. PBT rose to ₹16.44 crore from ₹3.65 crore, while PAT increased to ₹12.28 crore from ₹2.71 crore. Against Q1 FY27, tax expense was lower by ₹4.82 crore, while PAT was lower by ₹14.24 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 96.30 | 63.77 | +32.53 | +51.0% |
| Employee cost | 12.34 | 11.59 | +0.75 | +6.5% |
| Finance costs | 0.55 | 0.83 | −0.28 | −33.7% |
| Depreciation | 5.40 | 5.84 | −0.44 | −7.5% |
| Other expenses | 42.32 | 39.99 | +2.33 | +5.8% |
| Total expenses | 132.09 | 122.69 | +9.40 | +7.7% |
| Other income | 1.74 | 1.38 | +0.36 | +26.1% |
| Tax | 4.16 | 0.94 | +3.22 | +342.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
H1 FY27 revenue was ₹405.37 crore, up ₹65.83 crore or 19.4% from ₹339.54 crore in H1 FY26. Total income rose 19.7% to ₹409.78 crore from ₹342.43 crore, while PBT increased 186.3% to ₹51.94 crore from ₹18.14 crore.
For the first half, PAT was ₹38.80 crore, up ₹25.32 crore or 187.8% from ₹13.48 crore in H1 FY26. Basic EPS rose to ₹35.44 from ₹12.32, an increase of ₹23.12 or 187.7%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 405.37 | 339.54 | +19.4% |
| Profit before tax | 51.94 | 18.14 | +186.3% |
| Net profit | 38.80 | 13.48 | +187.8% |
| EPS (₹) | 35.44 | 12.32 | +187.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹560.07 crore, up from ₹532.10 crore at 31 March 2026. Total equity rose to ₹439.99 crore from ₹406.09 crore, while borrowings declined to ₹15.16 crore from ₹16.34 crore. Cash and cash equivalents fell to ₹2.42 crore from ₹6.72 crore.
Inventories decreased to ₹175.63 crore from ₹182.71 crore, trade receivables fell to ₹31.49 crore from ₹38.42 crore, and trade payables declined to ₹46.90 crore from ₹53.62 crore. H1 FY27 operating cash flow was ₹37.59 crore, compared with ₹55.68 crore in H1 FY26.
Investing cash flow was negative ₹35.23 crore in H1 FY27 against negative ₹10.94 crore a year earlier, while financing cash flow was negative ₹6.66 crore against negative ₹46.35 crore. Capital expenditure was ₹6.69 crore in H1 FY27, compared with ₹9.11 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 560.07 | 532.10 |
| Total equity | 439.99 | 406.09 |
| Borrowings | 15.16 | 16.34 |
| Cash and equivalents | 2.42 | 6.72 |
| Inventories | 175.63 | 182.71 |
| Trade receivables | 31.49 | 38.42 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 37.59 | 55.68 |
| Cash from investing | −35.23 | −10.94 |
| Cash from financing | −6.66 | −46.35 |
| Capital expenditure | 6.69 | 9.11 |
Source: Company's results filing (XBRL).
How has Sahyadri Industries done over the last 8 quarters?
Revenue rose year on year in each of the last five quarters, and profit also rose year on year in each of the last five quarters. Q1 FY27 marked the peak in the reported series, with revenue of ₹258.58 crore, PAT of ₹26.52 crore and an EBITDA margin of 15.1%.
Q2 FY27 revenue fell to ₹146.79 crore, PAT was ₹12.28 crore and EBITDA margin was 14.1%. Revenue and PAT were lower than in Q1 FY27, while the margin was also lower. Over the reported period, Q2 FY26 had the lowest revenue at ₹124.96 crore and the lowest PAT at ₹2.71 crore, while Q1 FY27 had the highest margin at 15.1%.
Which businesses drove the quarter?
Building Material revenue was ₹143.14 crore in Q2 FY27, up 17.2% from ₹122.16 crore in Q2 FY26. Segment EBIT was ₹12.22 crore, compared with ₹1.50 crore in the year-ago quarter, and the reported EBIT margin was 8.5%.
Power Generation revenue was ₹6.66 crore, up 16.0% from ₹5.74 crore in Q2 FY26. Segment EBIT was ₹3.37 crore, compared with ₹2.75 crore, with a reported EBIT margin of 50.6%. The company reported two operating segments under Ind AS 108.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| a)Segment - Building Material | 143.14 | +17.2% | 12.22 | 8.5% |
| b) Segment - Power Generation | 6.66 | +16.0% | 3.37 | 50.6% |
Source: Company's results filing (XBRL segment data).
What did Sahyadri Industries' management say?
Management said the second quarter is seasonally softer for both Sahyadri and the industry because of the nationwide monsoon. It said H1 FY27 capacity utilisation improved to 88% from 73% in H1 FY26 and maintained that the growth outlook for the roofing sector in FY27 remains positive, subject to geopolitical conditions, forex volatility affecting export markets and imported raw-material costs.
Management said Sahyadri aims to increase the share of value-added products to achieve higher portfolio margins. It also said the company plans to strengthen market share in existing geographies, establish presence in North and East India, explore adding clients across business segments and enhance manufacturing capabilities to cater to growing demand.
Management identified an Orissa unit for Asbestos Corrugated Sheet with 1,20,000 MTPA capacity and a Maharashtra project for Non-Asbestos Cement Boards, with capex entries of ₹95 crore for each project. The company said both projects would use internal accruals and debt; the Orissa project still requires land acquisition, and no commissioning timeline was stated.
The investor presentation identified working-capital changes of negative ₹18.2 crore in H1 FY27 against positive ₹28.7 crore in H1 FY26. Cash generated from operations was ₹44.5 crore, compared with ₹59.7 crore, while cash and cash equivalents ended H1 FY27 at ₹2.4 crore versus ₹6.7 crore at March 2026.
How did Sahyadri Industries shares react?
After the filing, Sahyadri Industries was up 0.3% after five minutes, 1.7% after 15 minutes and 5.9% after 30 minutes. From the prior close, the stock was up 6.0% on the reaction day and up 2.5% by the next day's close. The Other Construction Materials industry median was up 1.7% on the reaction day, while Sahyadri exceeded it by 4.2 percentage points.
| After the filing | Stock | Other Construction Materials median |
|---|---|---|
| 5 minutes | +0.3% | |
| 15 minutes | +1.7% | |
| 30 minutes | +5.9% | |
| Reaction day | +6.0% | +1.7% |
| Next day | +2.5% | −0.4% |
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 |
|---|---|
| 12 August 2026 | +1.3% |
| 9 May 2026 | +10.3% |
| 11 February 2026 | −4.0% |
| 31 October 2025 | +3.1% |
| 8 August 2025 | −1.0% |
| 26 May 2025 | +0.2% |
| 6 February 2025 | −3.0% |
| 8 November 2024 | −7.1% |
Source: MarketPing price-reaction measurement.
Quick answers
What was Sahyadri Industries' revenue in Q2 FY27?
Revenue from operations was ₹146.79 crore, up 17.5% from ₹124.96 crore in Q2 FY26 (standalone).
Did Sahyadri Industries make a profit in Q2 FY27?
Yes. Net profit was ₹12.28 crore, against a net profit of ₹2.71 crore in Q2 FY26.
What was Sahyadri Industries' EPS in Q2 FY27?
Basic earnings per share were ₹11.22, against ₹2.48 in Q2 FY26.
How did Sahyadri Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved +6.0% from the previous close; the median Other Construction Materials stock moved +1.7%.
When did Sahyadri Industries announce its Q2 FY27 results?
On 31 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of Unaudited Financial Results For The Quarter Ended On 30Th September, 2026 (BSE, 22 October 2026) · PDF
- Board Meeting Outcome for Unaudited Financial Results For The Quarter Ended On 30Th September 2026 (BSE, 31 October 2026) · PDF
- Board Meeting Outcome For Unaudited Financial Results For Quarter Ended On 30Th September 2026 (BSE, 31 October 2026) · PDF
- The investor presentation (3 November 2026)
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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