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Shish Industries Q2 FY27 results: net profit up 8.4% to ₹2.33 crore, revenue up 36.3%
Shish Industries Limited reported consolidated revenue of ₹40.57 crore in Q2 FY27, up 36.3% from Q2 FY26. Net profit was ₹2.33 crore, but EBITDA fell to ₹4.29 crore from ₹5.33 crore and the margin narrowed to 10.6% from 17.9%; the company returned to profit from a loss in Q1 FY27.
Key points
- Revenue was ₹40.57 crore in Q2 FY27, up 36.3% year on year and 14.3% from Q1 FY27.
- EBITDA was ₹4.29 crore, down 19.5% from Q2 FY26, while the margin fell 7.3 percentage points to 10.6%.
- Net profit was ₹2.33 crore, up 8.4% from Q2 FY26, compared with a net loss of ₹1.54 crore in Q1 FY27.
- For H1 FY27, revenue rose 21.0% to ₹76.06 crore, but PAT fell 83.2% to ₹0.79 crore.
- Borrowings were ₹54.64 crore at 30 September 2026, while cash was ₹0.51 crore, compared with ₹47.09 crore and ₹5.5 crore at 31 March 2026.
How did Shish Industries perform in Q2 FY27?
Shish Industries reported consolidated revenue of ₹40.57 crore in Q2 FY27, up 36.3% from ₹29.77 crore in Q2 FY26 and 14.3% from ₹35.49 crore in Q1 FY27. EBITDA was ₹4.29 crore, down from ₹5.33 crore a year earlier, and the margin narrowed from 17.9% to 10.6%.
Consolidated net profit was ₹2.33 crore in Q2 FY27, up 8.4% from ₹2.15 crore in Q2 FY26, after a net loss of ₹1.54 crore in Q1 FY27. Profit attributable to owners was ₹0.82 crore, down from ₹2.15 crore a year earlier. Basic EPS for Q2 FY27 was not provided.
On the standalone basis, revenue was ₹36.69 crore and profit after tax was ₹3.26 crore in Q2 FY27, with revenue growth of 43.5%. Standalone profit before tax was ₹2.13 crore. The board approved the unaudited standalone and consolidated results on 5 November 2026.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 40.57 | 35.49 | 29.77 | +36.3% | +14.3% |
| Other income | 1.99 | 0.79 | 0.35 | +468.6% | +151.9% |
| Total expenses | 40.74 | 38.41 | 27.50 | +48.1% | +6.1% |
| EBITDA | 4.29 | −0.11 | 5.33 | −19.5% | turned to profit |
| EBITDA margin | 10.6% | -0.3% | 17.9% | −7.3 pp | +10.9 pp |
| Profit before tax | 1.81 | −2.14 | 2.62 | −30.9% | turned to profit |
| Tax | 1 | 0.01 | 0.47 | +112.8% | +9900.0% |
| Net profit | 2.33 | −1.54 | 2.15 | +8.4% | turned to profit |
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 Shish Industries' costs and profit?
Total expenses increased to ₹40.74 crore in Q2 FY27 from ₹27.50 crore in Q2 FY26. Cost of materials was ₹25.80 crore, up ₹13.25 crore or 105.6%, while other expenses rose ₹2.65 crore or 59.4% to ₹7.11 crore and depreciation increased ₹2.04 crore or 152.2% to ₹3.38 crore.
Employee cost fell to ₹2.07 crore from ₹2.55 crore, down ₹0.48 crore or 18.8%, while finance costs declined to ₹1.09 crore from ₹1.73 crore, down ₹0.64 crore or 37.0%. Other income increased to ₹1.99 crore from ₹0.35 crore, a rise of ₹1.64 crore or 468.6%. There was no exceptional item.
Profit before tax fell to ₹1.81 crore from ₹2.62 crore in Q2 FY26, down ₹0.81 crore or 30.9%. Tax increased to ₹1 crore from ₹0.47 crore, up ₹0.53 crore or 112.8%, while consolidated net profit rose to ₹2.33 crore from ₹2.15 crore. Against Q1 FY27, profit before tax moved from a loss of ₹2.14 crore to a profit of ₹1.81 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 25.80 | 12.55 | +13.25 | +105.6% |
| Employee cost | 2.07 | 2.55 | −0.48 | −18.8% |
| Finance costs | 1.09 | 1.73 | −0.64 | −37.0% |
| Depreciation | 3.38 | 1.34 | +2.04 | +152.2% |
| Other expenses | 7.11 | 4.46 | +2.65 | +59.4% |
| Total expenses | 40.74 | 27.50 | +13.24 | +48.1% |
| Other income | 1.99 | 0.35 | +1.64 | +468.6% |
| Tax | 1 | 0.47 | +0.53 | +112.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Shish Industries reported consolidated revenue of ₹76.06 crore, up 21.0% from ₹62.88 crore in H1 FY26. Total income rose 20.2% to ₹78.83 crore from ₹65.6 crore.
Profit before tax moved to a loss of ₹0.32 crore from ₹5.94 crore in H1 FY26, a decline of ₹6.26 crore. PAT fell 83.2% to ₹0.79 crore from ₹4.7 crore. Basic EPS for H1 FY27 was not provided.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 76.06 | 62.88 | +21.0% |
| Profit before tax | −0.32 | 5.94 | turned to loss |
| Net profit | 0.79 | 4.70 | −83.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹250.52 crore, compared with ₹253.27 crore at 31 March 2026, and total equity was ₹170.78 crore compared with ₹179.52 crore. Inventories fell to ₹24.46 crore from ₹29.02 crore, while trade receivables rose to ₹35.25 crore from ₹33.97 crore.
Consolidated borrowings increased to ₹54.64 crore from ₹47.09 crore, and cash fell to ₹0.51 crore from ₹5.5 crore. Trade payables declined to ₹14.37 crore from ₹17.57 crore. H1 FY27 operating cash flow was ₹1.96 crore, unchanged from H1 FY26, while investing cash flow was an outflow of ₹12.72 crore compared with ₹13.71 crore.
Financing cash flow was an inflow of ₹5.77 crore in H1 FY27, compared with ₹11.78 crore in H1 FY26. Capital expenditure was ₹19.95 crore, up from ₹13.86 crore. The results were announced through a BSE filing on 5 November 2026.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 250.52 | 253.27 |
| Total equity | 170.78 | 179.52 |
| Borrowings | 54.64 | 47.09 |
| Cash and equivalents | 0.51 | 5.50 |
| Inventories | 24.46 | 29.02 |
| Trade receivables | 35.25 | 33.97 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 1.96 | 1.96 |
| Cash from investing | −12.72 | −13.71 |
| Cash from financing | 5.77 | 11.78 |
| Capital expenditure | 19.95 | 13.86 |
Source: Company's results filing (XBRL).
How has Shish Industries done over the last 8 quarters?
Revenue rose in each of the last three quarters and reached ₹40.57 crore in Q2 FY27, the highest level in the eight-quarter trend. It was above ₹35.04 crore in Q3 FY25 and ₹38.15 crore in Q4 FY26, while the lowest was ₹29.77 crore in Q2 FY26.
Net profit moved from a net loss of ₹1.54 crore in Q1 FY27 to a profit of ₹2.33 crore in Q2 FY27. Across the trend, the lowest profit was a net loss of ₹0.39 crore in Q4 FY25, while the highest was ₹2.55 crore in Q1 FY26. EBITDA margin was 10.6% in Q2 FY27, above the -0.3% low of the preceding two quarters but below the 17.9% peak in Q2 FY26.
How did other Plastic Products - Industrial companies do?
Among 24 Plastic Products - Industrial companies compared for the quarter, the median revenue growth was 29.4%. Shish Industries grew faster than 15 peers and slower than 9 peers on revenue.
Of the 28 peers whose profit was compared, 15 reported higher profit. These peer comparisons were available as of 6 November 2026.
| Shish Industries revenue growth (YoY) | +36.3% |
|---|---|
| Median of 24 other Plastic Products - Industrial companies | +29.4% |
| Companies with slower revenue growth than Shish Industries | 15 of 24 |
| Companies with faster revenue growth than Shish Industries | 9 of 24 |
| Companies whose net profit rose | 15 of 28 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Shish Industries' revenue in Q2 FY27?
Revenue from operations was ₹40.57 crore, up 36.3% from ₹29.77 crore in Q2 FY26 (consolidated).
Did Shish Industries make a profit in Q2 FY27?
Yes. Net profit was ₹2.33 crore, against a net profit of ₹2.15 crore in Q2 FY26.
When did Shish Industries announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting Scheduled To Be Held On 05/11/2026 (BSE, 31 October 2026) · PDF
- Board Meeting Outcome for Board Meeting Held On 05/11/2026 To Consider Unaudited Financial Results For The Quarter And Half Year Ended 30/09/2026 (BSE, 5 November 2026) · PDF
- Financial Results For Quarter And Half Year Ended 30/09/2026 (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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