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SG Mart Q2 FY27 results: net profit up 103.5% to ₹54.02 crore, revenue down 8.4%
SG Mart Limited reported Q2 FY27 consolidated revenue of ₹1,562 crore, down 8.4% year on year but up 19.4% sequentially. Net profit rose to ₹54.02 crore from ₹26.54 crore a year earlier, while EBITDA margin expanded to 4.6% from 1.6%.
Key points
- Consolidated revenue was ₹1,562 crore in Q2 FY27, down 8.4% from ₹1,704 crore in Q2 FY26 and up 19.4% from ₹1,309 crore in Q1 FY27.
- EBITDA rose to ₹71.99 crore from ₹28.02 crore a year earlier, while margin expanded to 4.6% from 1.6%.
- Net profit was ₹54.02 crore, up 103.5% from ₹26.54 crore in Q2 FY26 and up 18.5% from ₹45.58 crore in Q1 FY27.
- Basic EPS was ₹4.29, compared with ₹2.11 in Q2 FY26 and ₹3.62 in Q1 FY27.
- H1 FY27 revenue was ₹2,870.41 crore and net profit was ₹99.6 crore, with EPS of ₹7.9.
How did SG Mart perform in Q2 FY27?
SG Mart reported consolidated revenue of ₹1,562 crore for Q2 FY27, down 8.4% from ₹1,704 crore in Q2 FY26 but up 19.4% from ₹1,309 crore in Q1 FY27. EBITDA rose to ₹71.99 crore from ₹28.02 crore a year earlier, and margin expanded to 4.6% from 1.6%. Sequentially, EBITDA was up 22.5% from ₹58.76 crore and margin increased by 0.1 percentage point from 4.5%.
Profit before tax rose to ₹69.06 crore from ₹33.15 crore in Q2 FY26 and ₹58.23 crore in Q1 FY27. Net profit increased to ₹54.02 crore from ₹26.54 crore a year earlier and ₹45.58 crore in the previous quarter. Basic EPS was ₹4.29, compared with ₹2.11 in Q2 FY26 and ₹3.62 in Q1 FY27. On the standalone basis, revenue was ₹1,356.68 crore and profit was ₹39.77 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 1,562 | 1,309 | 1,704 | −8.4% | +19.4% |
| Other income | 8.71 | 9.75 | 19.01 | −54.2% | −10.7% |
| Total expenses | 1,501 | 1,260 | 1,690 | −11.2% | +19.2% |
| EBITDA | 71.99 | 58.76 | 28.02 | +156.9% | +22.5% |
| EBITDA margin | 4.6% | 4.5% | 1.6% | +3.0 pp | +0.1 pp |
| Profit before tax | 69.06 | 58.23 | 33.15 | +108.3% | +18.6% |
| Tax | 15.04 | 12.65 | 6.61 | +127.5% | +18.9% |
| Net profit | 54.02 | 45.58 | 26.54 | +103.5% | +18.5% |
| EPS (₹) | 4.29 | 3.62 | 2.11 | +103.3% | +18.5% |
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 SG Mart's costs and profit?
Total expenses fell to ₹1,501 crore in Q2 FY27 from ₹1,690 crore in Q2 FY26, despite cost of materials rising by ₹74.50 crore to ₹175.84 crore. Employee cost was up ₹2.54 crore at ₹10.68 crore, depreciation rose ₹2.07 crore to ₹4.41 crore and other expenses increased ₹6.35 crore to ₹21.15 crore. Finance costs fell by ₹4.31 crore to ₹7.23 crore. There was no exceptional item in either quarter.
Other income fell by ₹10.30 crore to ₹8.71 crore from ₹19.01 crore in Q2 FY26. Tax expense rose by ₹8.43 crore to ₹15.04 crore from ₹6.61 crore. Despite the lower other income and higher tax, EBITDA expanded by ₹43.97 crore and profit before tax rose by ₹35.91 crore. Against Q1 FY27, total expenses were higher by ₹241.40 crore, while EBITDA increased by ₹13.23 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 175.84 | 101.34 | +74.50 | +73.5% |
| Employee cost | 10.68 | 8.14 | +2.54 | +31.2% |
| Finance costs | 7.23 | 11.54 | −4.31 | −37.3% |
| Depreciation | 4.41 | 2.34 | +2.07 | +88.5% |
| Other expenses | 21.15 | 14.80 | +6.35 | +42.9% |
| Total expenses | 1,501 | 1,690 | −188.62 | −11.2% |
| Other income | 8.71 | 19.01 | −10.30 | −54.2% |
| Tax | 15.04 | 6.61 | +8.43 | +127.5% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹2,870.41 crore, up 0.8% from ₹2,848.01 crore in H1 FY26. Total income was nearly unchanged at ₹2,888.87 crore against ₹2,887.46 crore. Profit before tax rose 68.1% to ₹127.28 crore from ₹75.72 crore, while net profit increased 69.3% to ₹99.6 crore from ₹58.82 crore. EPS rose to ₹7.9 from ₹4.83.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 2,870 | 2,848 | +0.8% |
| Profit before tax | 127.28 | 75.72 | +68.1% |
| Net profit | 99.60 | 58.82 | +69.3% |
| EPS (₹) | 7.90 | 4.83 | +63.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets fell to ₹2,071.64 crore on 30 September 2026 from ₹2,249.62 crore on 31 March 2026. Total equity rose to ₹1,703.71 crore from ₹1,596.53 crore, while borrowings declined to ₹16.02 crore from ₹231.42 crore. Cash fell to ₹233.77 crore from ₹519.89 crore; inventories were ₹217.71 crore against ₹283.59 crore, trade receivables ₹231.09 crore against ₹264.58 crore, and trade payables ₹280.01 crore against ₹365.04 crore.
H1 FY27 operating cash flow was ₹181.26 crore, compared with ₹190.93 crore in H1 FY26. Investing cash flow was negative ₹228.95 crore against negative ₹3.29 crore, while financing cash flow was negative ₹238.53 crore against negative ₹223.44 crore. Capital expenditure was ₹162.79 crore in H1 FY27, compared with ₹77.65 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,072 | 2,250 |
| Total equity | 1,704 | 1,597 |
| Borrowings | 16.02 | 231.42 |
| Cash and equivalents | 233.77 | 519.89 |
| Inventories | 217.71 | 283.59 |
| Trade receivables | 231.09 | 264.58 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 181.26 | 190.93 |
| Cash from investing | −228.95 | −3.29 |
| Cash from financing | −238.53 | −223.44 |
| Capital expenditure | 162.79 | 77.65 |
Source: Company's results filing (XBRL).
How has SG Mart done over the last 8 quarters?
Revenue reached its highest level in the reported series at ₹1,822.84 crore in Q4 FY26 and its lowest at ₹1,143.77 crore in Q1 FY26. Q2 FY27 revenue of ₹1,562 crore was lower than Q4 FY26 but higher than Q1 FY27. The current direction was upward sequentially from ₹1,308.57 crore in Q1 FY27.
Net profit was lowest at ₹10.74 crore in Q3 FY26 and highest at ₹54.02 crore in Q2 FY27. EBITDA margin bottomed at 1.0% in Q3 FY26 and reached 4.6% in Q2 FY27, compared with its earlier peak of 3.1% in Q1 FY26. Profit rose year on year in each of the last three quarters.
What else did the company announce?
The board approved the unaudited standalone and consolidated results for the quarter and half year ended 30 September 2026. It also approved the acquisition of 24.5% of SG Enterprise Solutions Private Limited for ₹1,22,500, expected to complete by 31 December 2026, and the acquisition of 16.67% of APL Apollo Foundation for ₹2,50,000. The board approved an additional investment of up to ₹10 crore in its wholly owned subsidiary SG Buildkart Private Limited.
The Nomination and Remuneration Committee approved a grant of 94,000 employee stock options to eligible employees. The exercise price was set at ₹640.00 per option, and each option is convertible into one equity share of face value ₹1 each. The same-day filings did not include a dividend announcement or a fund raise.
What did SG Mart's management say?
Management said the service-centre network would expand to 25-plus centres by 2030, potentially 30-35, with five to six additions planned annually through FY27-FY28. The online sales channel is expected to be ready within six months. HR coil processing volume rose 16% sequentially to 206,000 tonnes, while profiles rose 20% to about 40,000 tonnes.
Management identified macro and execution risks, including steel prices rising 25-30% in six to seven months, higher ocean freight and Middle East disruption affecting export- and import-linked customers, and new service centres requiring 6-9 months to ramp fully. The company also expects execution constraints in UAE expansion because of steel scarcity and port disruption.
How did SG Mart shares react?
The filing was released after market hours. The shares were up 1.6% after five minutes, 3.8% after 15 minutes and 3.8% after 30 minutes. The reaction-day close was unchanged from the previous close, but by the next day's close the stock was up 7.9% from its pre-results close and by the fifth session it was up 12.0%.
The industry median was down 0.1% on the reaction day, down 0.6% by the next day's close and up 1.6% by the fifth session. SG Mart exceeded the sector median by 0.1 percentage point on the reaction day, 8.5 percentage points by the next day's close and 10.4 percentage points by the fifth session. Earlier results-day moves were 4.5%, negative 3.5%, 2.9% and negative 3.5%.
| After the filing | Stock | Trading - Metals median |
|---|---|---|
| 5 minutes | +1.6% | |
| 15 minutes | +3.8% | |
| 30 minutes | +3.8% | |
| Reaction day | +0.0% | −0.1% |
| Next day | +7.9% | −0.6% |
| 5 days | +12.0% | +1.6% |
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 |
|---|---|
| 20 July 2026 | +4.5% |
| 4 May 2026 | −3.5% |
| 23 January 2026 | +2.9% |
| 30 October 2025 | −3.5% |
Source: MarketPing price-reaction measurement.
Quick answers
What was SG Mart's revenue in Q2 FY27?
Revenue from operations was ₹1,562 crore, down 8.4% from ₹1,704 crore in Q2 FY26 (consolidated).
Did SG Mart make a profit in Q2 FY27?
Yes. Net profit was ₹54.02 crore, against a net profit of ₹26.54 crore in Q2 FY26.
What was SG Mart's EPS in Q2 FY27?
Basic earnings per share were ₹4.29, against ₹2.11 in Q2 FY26.
How did SG Mart shares react to the Q2 FY27 results?
On the reaction day the stock moved +0.0% from the previous close; the median Trading - Metals stock moved −0.1%.
When did SG Mart announce its Q2 FY27 results?
On 27 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Considering The Unaudited Financial Results (Standalone & Consolidated) Of The Company For The Quarter And Half Year Ended September 30, 2026 (BSE, 17 October 2026) · PDF
- Financial Results For Quarter And Half Year Ended September 30, 2026 (BSE, 27 October 2026) · PDF
- The earnings call (29 October 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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