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Seshasayee Paper and Boards Q2 FY27 results: net profit up 88.8% to ₹42.31 crore, revenue up 45.3%
Seshasayee Paper and Boards Limited reported consolidated revenue of ₹503.06 crore and a net profit of ₹42.31 crore for Q2 FY27, compared with ₹346.32 crore and ₹22.41 crore in Q2 FY26. EBITDA rose to ₹46.89 crore from ₹26.30 crore, while the EBITDA margin increased to 9.3% from 7.6%.
Key points
- Consolidated Q2 FY27 revenue was ₹503.06 crore, up 45.3% from ₹346.32 crore in Q2 FY26.
- EBITDA was ₹46.89 crore, up 78.3% from ₹26.30 crore in the year-ago quarter.
- The EBITDA margin was 9.3%, compared with 7.6% in Q2 FY26 and 8.9% in Q1 FY27.
- Net profit was ₹42.31 crore, up 88.8% from ₹22.41 crore in Q2 FY26.
- Basic EPS was ₹7.03, compared with ₹3.72 in Q2 FY26 and ₹5.30 in Q1 FY27.
How did Seshasayee Paper and Boards perform in Q2 FY27?
Seshasayee Paper and Boards reported consolidated revenue of ₹503.06 crore in Q2 FY27, against ₹346.32 crore in Q2 FY26 and ₹492.08 crore in Q1 FY27. The revenue increase was 45.3% from the year-ago quarter and 2.2% from the previous quarter. Total income was ₹514.95 crore, compared with ₹359.66 crore in Q2 FY26 and ₹503.97 crore in Q1 FY27.
Consolidated EBITDA was ₹46.89 crore in Q2 FY27, up from ₹26.30 crore in Q2 FY26 and ₹43.91 crore in Q1 FY27. The EBITDA margin was 9.3%, up 1.7 percentage points from 7.6% in Q2 FY26 and 0.4 percentage points from 8.9% in Q1 FY27.
Profit before tax was ₹46.82 crore, while net profit was ₹42.31 crore in Q2 FY27. Net profit was ₹22.41 crore in Q2 FY26 and ₹31.91 crore in Q1 FY27; basic EPS was ₹7.03, compared with ₹3.72 and ₹5.30, respectively. On a standalone basis, revenue was ₹502.99 crore and net profit was ₹34.96 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 503.06 | 492.08 | 346.32 | +45.3% | +2.2% |
| Other income | 11.89 | 11.89 | 13.34 | −10.9% | +0.0% |
| Total expenses | 468.13 | 460.19 | 335.59 | +39.5% | +1.7% |
| EBITDA | 46.89 | 43.91 | 26.30 | +78.3% | +6.8% |
| EBITDA margin | 9.3% | 8.9% | 7.6% | +1.7 pp | +0.4 pp |
| Profit before tax | 46.82 | 43.78 | 24.07 | +94.5% | +6.9% |
| Tax | 11.81 | 11.53 | 6.30 | +87.5% | +2.4% |
| Net profit | 42.31 | 31.91 | 22.41 | +88.8% | +32.6% |
| EPS (₹) | 7.03 | 5.30 | 3.72 | +89.0% | +32.6% |
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 Seshasayee Paper and Boards' costs and profit?
Total expenses rose to ₹468.13 crore in Q2 FY27 from ₹335.59 crore in Q2 FY26. Cost of materials increased by ₹47.65 crore to ₹315.89 crore, employee cost by ₹2.07 crore to ₹28.89 crore, depreciation by ₹0.48 crore to ₹11.62 crore and other expenses by ₹30.41 crore to ₹113.71 crore. Finance costs fell by ₹4.09 crore to ₹0.34 crore.
Other income declined by ₹1.45 crore to ₹11.89 crore from ₹13.34 crore in Q2 FY26. Profit before tax rose by ₹22.75 crore to ₹46.82 crore, while tax expense increased by ₹5.51 crore to ₹11.81 crore. There was no exceptional item in either quarter.
The company attributed better performance in April–September 2026 to higher production and sales volumes, higher realisations from domestic and export markets, improved productivity and improved order positions in both markets. It said the Erode and Tirunelveli units recorded utilisation of 116% and 94% in the consolidated half-year results.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 315.89 | 268.24 | +47.65 | +17.8% |
| Employee cost | 28.89 | 26.82 | +2.07 | +7.7% |
| Finance costs | 0.34 | 4.43 | −4.09 | −92.3% |
| Depreciation | 11.62 | 11.14 | +0.48 | +4.3% |
| Other expenses | 113.71 | 83.30 | +30.41 | +36.5% |
| Total expenses | 468.13 | 335.59 | +132.54 | +39.5% |
| Other income | 11.89 | 13.34 | −1.45 | −10.9% |
| Tax | 11.81 | 6.30 | +5.51 | +87.5% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹995.14 crore, compared with ₹731.72 crore in H1 FY26, while total income was ₹1,018.92 crore against ₹758.62 crore. Revenue rose 36.0% and total income rose 34.3% from the year-earlier half.
Profit before tax was ₹90.60 crore in H1 FY27, compared with ₹46.33 crore in H1 FY26. Net profit was ₹74.22 crore against ₹37.84 crore, and basic EPS was ₹12.32 compared with ₹6.28. The filing recorded share of profit from an associate of ₹7.30 crore in H1 FY27.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 995.14 | 731.72 | +36.0% |
| Profit before tax | 90.60 | 46.33 | +95.6% |
| Net profit | 74.22 | 37.84 | +96.1% |
| EPS (₹) | 12.32 | 6.28 | +96.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹2,529.63 crore at 30 September 2026, compared with ₹2,501.83 crore at 31 March 2026. Total equity rose to ₹2,112.18 crore from ₹2,041.97 crore, while borrowings remained at ₹0.00 crore. Cash and cash equivalents were ₹53.27 crore, against ₹7.83 crore, and inventories were ₹355.16 crore against ₹360.43 crore.
Trade receivables declined to ₹180.51 crore from ₹190.14 crore, while trade payables fell to ₹191.27 crore from ₹239.00 crore. For H1 FY27, operating cash flow was ₹39.49 crore, compared with an outflow of ₹72.93 crore in H1 FY26; investing cash flow was ₹19.31 crore against ₹135.85 crore, financing cash flow was an outflow of ₹13.36 crore against ₹26.50 crore, and capital expenditure was ₹52.33 crore against ₹28.33 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,530 | 2,502 |
| Total equity | 2,112 | 2,042 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 53.27 | 7.83 |
| Inventories | 355.16 | 360.43 |
| Trade receivables | 180.51 | 190.14 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 39.49 | −72.93 |
| Cash from investing | 19.31 | 135.85 |
| Cash from financing | −13.36 | −26.50 |
| Capital expenditure | 52.33 | 28.33 |
Source: Company's results filing (XBRL).
How has Seshasayee Paper and Boards done over the last 8 quarters?
Revenue reached its highest level in the series at ₹591.84 crore in Q4 FY26 and its lowest at ₹346.32 crore in Q2 FY26. It rose to ₹503.06 crore in Q2 FY27 from ₹492.08 crore in Q1 FY27. Revenue rose year on year in each of the last three quarters.
Net profit peaked at ₹42.31 crore in Q2 FY27 and bottomed at ₹15.43 crore in Q1 FY26, after ₹22.41 crore in Q2 FY26. Profit rose year on year in each of the last two quarters. The EBITDA margin increased to 9.3% in Q2 FY27 from 8.9% in Q1 FY27, after reaching 7.6% in Q2 FY26.
How did Seshasayee Paper and Boards shares react?
The filing was released after market hours. From the price when the filing appeared, the stock was down 5.5% after 5 minutes, down 4.6% after 15 minutes and down 2.6% after 30 minutes. It closed 8.7% above the previous close on the reaction day; by the next day's close it was down 3.2% from the pre-results close, and by the fifth session it was up 2.8%.
The Paper & Paper Products industry median moved up 0.4% on the reaction day, up 2.0% by the next close and up 1.8% by the fifth close. Seshasayee Paper and Boards exceeded the industry median by 8.3 percentage points on the reaction day, but was 5.2 percentage points behind it by the next close and 1.1 percentage points ahead by the fifth close.
Earlier reaction-day moves were mixed: the stock rose 3.0% on 25 July 2026 and 1.6% on 31 January 2026, while it fell 4.0% on 12 May 2026, 0.6% on 25 October 2025 and 1.9% on 19 July 2025.
| After the filing | Stock | Paper & Paper Products median |
|---|---|---|
| 5 minutes | −5.5% | |
| 15 minutes | −4.6% | |
| 30 minutes | −2.6% | |
| Reaction day | +8.7% | +0.4% |
| Next day | −3.2% | +2.0% |
| 5 days | +2.8% | +1.8% |
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 |
|---|---|
| 25 July 2026 | +3.0% |
| 12 May 2026 | −4.0% |
| 31 January 2026 | +1.6% |
| 25 October 2025 | −0.6% |
| 19 July 2025 | −1.9% |
| 10 May 2025 | +1.1% |
| 17 January 2025 | −3.2% |
| 19 October 2024 | −3.7% |
Source: MarketPing price-reaction measurement.
How did other Paper & Paper Products companies do?
Twelve other Paper & Paper Products companies were compared, and their median revenue growth was 21.3%. Eight peers grew more slowly than Seshasayee Paper and Boards and four grew faster, while all 12 reported higher profit.
| Seshasayee Paper and Boards revenue growth (YoY) | +45.3% |
|---|---|
| Median of 12 other Paper & Paper Products companies | +21.3% |
| Companies with slower revenue growth than Seshasayee Paper and Boards | 8 of 12 |
| Companies with faster revenue growth than Seshasayee Paper and Boards | 4 of 12 |
| Companies whose net profit rose | 12 of 14 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Seshasayee Paper and Boards' revenue in Q2 FY27?
Revenue from operations was ₹503.06 crore, up 45.3% from ₹346.32 crore in Q2 FY26 (consolidated).
Did Seshasayee Paper and Boards make a profit in Q2 FY27?
Yes. Net profit was ₹42.31 crore, against a net profit of ₹22.41 crore in Q2 FY26.
What was Seshasayee Paper and Boards' EPS in Q2 FY27?
Basic earnings per share were ₹7.03, against ₹3.72 in Q2 FY26.
How did Seshasayee Paper and Boards shares react to the Q2 FY27 results?
On the reaction day the stock moved +8.7% from the previous close; the median Paper & Paper Products stock moved +0.4%.
When did Seshasayee Paper and Boards announce its Q2 FY27 results?
On 24 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Standalone And Consolidated Un-Audited Financial Results For The Quarter And Half-Year Ended September 30, 2026 (BSE, 9 October 2026) · PDF
- Board Meeting Outcome for Standalone And Consolidated Un-Audited Financial Results For The Quarter And Half-Year Ended September 30, 2026 (BSE, 24 October 2026) · PDF
- Standalone And Consolidated Un-Audited Financial Results For The Quarter And Half-Year Ended September 30, 2026 (BSE, 24 October 2026) · PDF
- Chairman''s Letter To Shareholders (BSE, 24 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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