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Shetron Q2 FY27 results: net profit ₹3.22 crore vs ₹1.05 crore, revenue up 49.5%
Shetron Ltd reported standalone revenue of ₹90.30 crore in Q2 FY27, up 49.5% from Q2 FY26, while net profit rose to ₹3.22 crore from ₹1.05 crore. EBITDA increased to ₹7.58 crore and the EBITDA margin expanded to 8.4% from 6.4%.
Key points
- Q2 FY27 standalone revenue was ₹90.30 crore, up 49.5% from ₹60.41 crore in Q2 FY26.
- EBITDA rose to ₹7.58 crore from ₹3.89 crore, while the margin increased to 8.4% from 6.4%.
- Net profit was ₹3.22 crore, compared with ₹1.05 crore in Q2 FY26, and basic EPS was ₹3.58 against ₹1.17.
- Against Q1 FY27, revenue rose to ₹90.30 crore from ₹86.37 crore and net profit increased to ₹3.22 crore from ₹1.89 crore.
- H1 FY27 revenue was ₹176.67 crore, up 36.7% from ₹129.20 crore in H1 FY26, and PAT was ₹5.11 crore versus ₹2.67 crore.
How did Shetron perform in Q2 FY27?
Shetron’s standalone revenue for Q2 FY27 was ₹90.30 crore, compared with ₹60.41 crore in Q2 FY26 and ₹86.37 crore in Q1 FY27. EBITDA was ₹7.58 crore, up from ₹3.89 crore a year earlier and ₹5.72 crore in the previous quarter. The EBITDA margin was 8.4%, compared with 6.4% in Q2 FY26 and 6.6% in Q1 FY27.
Profit before tax rose to ₹4.77 crore from ₹1.33 crore in Q2 FY26 and ₹2.79 crore in Q1 FY27. After tax of ₹1.55 crore, Shetron reported a net profit of ₹3.22 crore, against ₹1.05 crore a year earlier and ₹1.89 crore in Q1 FY27. Basic EPS was ₹3.58, compared with ₹1.17 in Q2 FY26 and ₹2.10 in Q1 FY27. No consolidated figures were given.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 90.30 | 86.37 | 60.41 | +49.5% | +4.6% |
| Other income | 0.36 | 0.20 | 0.22 | +63.6% | +80.0% |
| Total expenses | 85.89 | 83.78 | 59.30 | +44.8% | +2.5% |
| EBITDA | 7.58 | 5.72 | 3.89 | +94.9% | +32.5% |
| EBITDA margin | 8.4% | 6.6% | 6.4% | +2.0 pp | +1.8 pp |
| Profit before tax | 4.77 | 2.79 | 1.33 | +258.6% | +71.0% |
| Tax | 1.55 | 0.90 | 0.28 | +453.6% | +72.2% |
| Net profit | 3.22 | 1.89 | 1.05 | +206.7% | +70.4% |
| EPS (₹) | 3.58 | 2.10 | 1.17 | +206.0% | +70.5% |
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 Shetron's costs and profit?
Total expenses were ₹85.89 crore in Q2 FY27, up ₹26.59 crore from ₹59.30 crore in Q2 FY26. Cost of materials increased by ₹22.81 crore to ₹65.86 crore, employee cost by ₹0.96 crore to ₹7.37 crore, finance costs by ₹0.24 crore to ₹1.54 crore, depreciation by ₹0.15 crore to ₹1.63 crore and other expenses by ₹1.67 crore to ₹7.72 crore. Other income rose by ₹0.14 crore to ₹0.36 crore.
Against Q2 FY26, profit before exceptional items and tax increased by ₹3.44 crore to ₹4.77 crore. There was no exceptional item. Tax expense rose by ₹1.27 crore to ₹1.55 crore, while net profit increased by ₹2.17 crore to ₹3.22 crore. The filing did not state the reasons for the changes in the cost lines or tax.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 65.86 | 43.05 | +22.81 | +53.0% |
| Employee cost | 7.37 | 6.41 | +0.96 | +15.0% |
| Finance costs | 1.54 | 1.30 | +0.24 | +18.5% |
| Depreciation | 1.63 | 1.48 | +0.15 | +10.1% |
| Other expenses | 7.72 | 6.05 | +1.67 | +27.6% |
| Total expenses | 85.89 | 59.30 | +26.59 | +44.8% |
| Other income | 0.36 | 0.22 | +0.14 | +63.6% |
| Tax | 1.55 | 0.28 | +1.27 | +453.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, Shetron reported revenue of ₹176.67 crore, compared with ₹129.20 crore in H1 FY26, and total income of ₹177.23 crore against ₹129.78 crore. Profit before tax was ₹7.56 crore, compared with ₹3.67 crore, and net profit was ₹5.11 crore against ₹2.67 crore. Basic EPS increased to ₹5.68 from ₹1.22.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 176.67 | 129.20 | +36.7% |
| Profit before tax | 7.56 | 3.67 | +106.0% |
| Net profit | 5.11 | 2.67 | +91.4% |
| EPS (₹) | 5.68 | 1.22 | +365.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹180.09 crore, up from ₹157.45 crore at 31 March 2026. Total equity was ₹65.93 crore against ₹61.72 crore, borrowings were ₹38.51 crore against ₹37.79 crore, and cash was ₹0.49 crore against ₹0.07 crore. Inventories increased to ₹60.80 crore from ₹57.37 crore, trade receivables to ₹48.27 crore from ₹31.16 crore and trade payables to ₹62.26 crore from ₹46.78 crore.
For H1 FY27, operating cash flow was ₹4.36 crore, compared with ₹6.72 crore in H1 FY26. Investing cash flow was negative ₹0.67 crore against negative ₹2.30 crore, while financing cash flow was negative ₹3.27 crore against negative ₹4.14 crore. Capital expenditure was ₹0.85 crore, compared with ₹2.62 crore a year earlier.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 180.09 | 157.45 |
| Total equity | 65.93 | 61.72 |
| Borrowings | 38.51 | 37.79 |
| Cash and equivalents | 0.49 | 0.07 |
| Inventories | 60.80 | 57.37 |
| Trade receivables | 48.27 | 31.16 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 4.36 | 6.72 |
| Cash from investing | −0.67 | −2.30 |
| Cash from financing | −3.27 | −4.14 |
| Capital expenditure | 0.85 | 2.62 |
Source: Company's results filing (XBRL).
How has Shetron done over the last 8 quarters?
Revenue reached ₹90.30 crore in Q2 FY27, the highest among the listed quarters and above ₹86.37 crore in Q1 FY27. Net profit was ₹3.22 crore, also the highest in the series, while the EBITDA margin was 8.4%, below the 8.8% peak recorded in Q4 FY26. Revenue and profit have now increased year on year for eight and four consecutive quarters, respectively.
What else did the company announce?
On 3 November 2026, the board recommended appointing Mohan Narayan Menon as an independent director for 2 years and Raksha Mally as a director, subject to shareholder approval. It also recommended reappointing Bhagya Chandra Rao as an independent director for 5 years from 30 May 2027, subject to shareholder approval. The proposals will be put to shareholders through a postal ballot. The same-day filings contained no dividend or fund-raising announcement.
How did Shetron shares react?
Shetron rose 7.1% within five minutes of the filing and was also up 7.1% after 15 minutes. On the reaction day, the stock closed 10.0% above its pre-results close, compared with a 0.4% median move for other Packaging stocks. By the next day's close, it was up 7.3% from its pre-results close, against the industry median of 1.6%, a 5.7 percentage-point excess move.
Earlier results-day moves were mixed. Shetron rose 7.8% on 2 May 2026 and 6.1% on 6 August 2025, while it fell 6.1% on 7 February 2026, 2.0% on 7 November 2025 and 4.0% on 9 May 2025.
| After the filing | Stock | Packaging median |
|---|---|---|
| 5 minutes | +7.1% | |
| 15 minutes | +7.1% | |
| Reaction day | +10.0% | +0.4% |
| Next day | +7.3% | +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 |
|---|---|
| 2 May 2026 | +7.8% |
| 7 February 2026 | −6.1% |
| 7 November 2025 | −2.0% |
| 6 August 2025 | +6.1% |
| 9 May 2025 | −4.0% |
| 29 October 2024 | −1.3% |
| 20 August 2024 | +18.2% |
| 17 May 2024 | −5.2% |
Source: MarketPing price-reaction measurement.
How did other Packaging companies do?
A total of 23 other Packaging companies filed for the quarter, with a median revenue growth of 19.1%. Twenty peers grew more slowly than Shetron, while three grew faster. Among 24 peers for which profit was compared, 13 reported higher profit.
| Shetron revenue growth (YoY) | +49.5% |
|---|---|
| Median of 23 other Packaging companies | +19.1% |
| Companies with slower revenue growth than Shetron | 20 of 23 |
| Companies with faster revenue growth than Shetron | 3 of 23 |
| Companies whose net profit rose | 13 of 24 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Shetron's revenue in Q2 FY27?
Revenue from operations was ₹90.30 crore, up 49.5% from ₹60.41 crore in Q2 FY26 (standalone).
Did Shetron make a profit in Q2 FY27?
Yes. Net profit was ₹3.22 crore, against a net profit of ₹1.05 crore in Q2 FY26.
What was Shetron's EPS in Q2 FY27?
Basic earnings per share were ₹3.58, against ₹1.17 in Q2 FY26.
How did Shetron shares react to the Q2 FY27 results?
On the reaction day the stock moved +10.0% from the previous close; the median Packaging stock moved +0.4%.
When did Shetron announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of Board Meeting (BSE, 28 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On November 3, 2026. (BSE, 3 November 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On November 3, 2026. (BSE, 3 November 2026) · PDF
- Outcome Of Board Meeting Held On November 3, 2026. (BSE, 3 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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