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Smiths & Founders Q2 FY27 results: net profit up 8.7% to ₹0.25 crore, revenue up 2.1%
Smiths & Founders (India) Ltd reported standalone revenue of ₹3.90 crore in Q2 FY27, up 2.1% from ₹3.82 crore a year earlier. Net profit was ₹0.25 crore versus ₹0.23 crore in Q2 FY26, while EBITDA was ₹0.39 crore at a 10.0% margin.
Key points
- Revenue was ₹3.90 crore in Q2 FY27, up 2.1% from ₹3.82 crore in Q2 FY26.
- EBITDA was ₹0.39 crore, down 4.9% from ₹0.41 crore, with the margin at 10.0%.
- Net profit was ₹0.25 crore, up 8.7% from ₹0.23 crore, and basic EPS was ₹0.02.
- Against Q1 FY27, revenue rose 21.1% to ₹3.90 crore, while net profit fell 3.8% to ₹0.25 crore.
- H1 FY27 revenue was ₹7.12 crore, up 1.0% from ₹7.05 crore, while profit before tax and net profit were unchanged at ₹0.67 crore and ₹0.50 crore.
How did Smiths & Founders perform in Q2 FY27?
Smiths & Founders reported standalone revenue of ₹3.90 crore for Q2 FY27, up 2.1% from ₹3.82 crore in Q2 FY26. EBITDA was ₹0.39 crore, down 4.9% from ₹0.41 crore, and the EBITDA margin declined 0.8 percentage points to 10.0%. Profit before tax was ₹0.33 crore, down 5.7% from ₹0.35 crore.
The company reported a net profit of ₹0.25 crore in Q2 FY27, up 8.7% from ₹0.23 crore a year earlier, and basic EPS was ₹0.02. Against Q1 FY27, revenue rose 21.1% to ₹3.90 crore and EBITDA rose 11.4% to ₹0.39 crore, but profit before tax fell 2.9% to ₹0.33 crore and net profit fell 3.8% to ₹0.25 crore. Basic EPS declined from ₹0.03 to ₹0.02. The results were on a standalone basis.
The company has one reportable segment, so segmental reporting was not required. The board approved the unaudited results for the quarter and half year ended 30 September 2026 on 5 November 2026, following review by the audit committee. The filing states that previous-period figures were regrouped or reclassified wherever necessary.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 3.90 | 3.22 | 3.82 | +2.1% | +21.1% |
| Other income | 0 | 0.05 | 0 | ||
| Total expenses | 3.57 | 2.93 | 3.47 | +2.9% | +21.8% |
| EBITDA | 0.39 | 0.35 | 0.41 | −4.9% | +11.4% |
| EBITDA margin | 10.0% | 10.9% | 10.8% | −0.8 pp | −0.9 pp |
| Profit before tax | 0.33 | 0.34 | 0.35 | −5.7% | −2.9% |
| Tax | 0.08 | 0.09 | 0.12 | −33.3% | −11.1% |
| Net profit | 0.25 | 0.26 | 0.23 | +8.7% | −3.8% |
| EPS (₹) | 0.02 | 0.03 | 0.02 | +0.0% | −33.3% |
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 Smiths & Founders' costs and profit?
Total expenses were ₹3.57 crore in Q2 FY27, up 2.9% from ₹3.47 crore in Q2 FY26. Cost of materials was ₹1.98 crore, up ₹0.19 crore or 10.6%, while employee cost fell ₹0.06 crore or 6.5% to ₹0.87 crore. Other expenses were ₹0.63 crore, down ₹0.03 crore or 4.5%, and depreciation was ₹0.06 crore, down ₹0.01 crore or 14.3%.
Other income was unchanged at ₹0 crore against Q2 FY26, and finance costs were unchanged at ₹0 crore. There was no exceptional item in Q2 FY27, Q2 FY26 or Q1 FY27. Tax expense was ₹0.08 crore, down ₹0.04 crore or 33.3% from ₹0.12 crore a year earlier. The filing does not state a reason for the changes in the cost lines.
Against Q1 FY27, total expenses rose ₹0.64 crore or 21.8% to ₹3.57 crore. Cost of materials increased ₹0.52 crore or 35.6% to ₹1.98 crore, employee cost rose ₹0.03 crore or 3.6% to ₹0.87 crore, and depreciation and other expenses were unchanged at ₹0.06 crore and ₹0.63 crore. Other income fell ₹0.05 crore to ₹0 crore, while tax expense fell ₹0.01 crore or 11.1% to ₹0.08 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1.98 | 1.79 | +0.19 | +10.6% |
| Employee cost | 0.87 | 0.93 | −0.06 | −6.5% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0.06 | 0.07 | −0.01 | −14.3% |
| Other expenses | 0.63 | 0.66 | −0.03 | −4.5% |
| Total expenses | 3.57 | 3.47 | +0.10 | +2.9% |
| Other income | 0 | 0 | 0 | |
| Tax | 0.08 | 0.12 | −0.04 | −33.3% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Smiths & Founders reported revenue of ₹7.12 crore, up 1.0% from ₹7.05 crore in H1 FY26. Total income rose 1.6% to ₹7.18 crore from ₹7.07 crore. Profit before tax was unchanged at ₹0.67 crore, while net profit was unchanged at ₹0.50 crore.
Basic EPS for H1 FY27 was ₹0.05, unchanged from H1 FY26. The board-approved filing reported standalone results for the six months ended 30 September 2026, with no exceptional item in either half-year period.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 7.12 | 7.05 | +1.0% |
| Profit before tax | 0.67 | 0.67 | +0.0% |
| Net profit | 0.50 | 0.50 | +0.0% |
| EPS (₹) | 0.05 | 0.05 | +0.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹23.74 crore, compared with ₹23.42 crore at 31 March 2026. Total equity was ₹21.8 crore versus ₹21.3 crore, while borrowings remained at ₹0 crore. Cash and cash equivalents were ₹1.35 crore against ₹1.38 crore, with inventories at ₹1.18 crore versus ₹1.17 crore and trade receivables at ₹1.81 crore versus ₹1.80 crore.
H1 FY27 operating cash flow was ₹0.32 crore, compared with ₹1.70 crore in H1 FY26. Investing cash flow was negative ₹0.35 crore against negative ₹0.17 crore, while financing cash flow was negative ₹0 crore against positive ₹0.57 crore. Capital expenditure was ₹0.37 crore in H1 FY27 and ₹0.19 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 23.74 | 23.42 |
| Total equity | 21.80 | 21.30 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 1.35 | 1.38 |
| Inventories | 1.18 | 1.17 |
| Trade receivables | 1.81 | 1.80 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 0.32 | 1.70 |
| Cash from investing | −0.35 | −0.17 |
| Cash from financing | 0 | 0.57 |
| Capital expenditure | 0.37 | 0.19 |
Source: Company's results filing (XBRL).
How has Smiths & Founders done over the last 8 quarters?
Revenue reached a high of ₹3.90 crore in Q2 FY27 after falling to ₹3.22 crore in Q1 FY27. Net profit was ₹0.25 crore, above ₹0.23 crore in Q2 FY26 but below ₹0.62 crore in Q4 FY26, when it was the highest in the series.
The EBITDA margin reached a low of -0.5% in Q4 FY26 and recovered to 10.9% in Q1 FY27 before easing to 10.0% in Q2 FY27. Revenue also bottomed at ₹3.22 crore in Q1 FY27 and then rose to ₹3.90 crore in the latest quarter, while net profit moved from ₹0.26 crore to ₹0.25 crore.
How did Smiths & Founders shares react?
Earlier reaction-day moves were mixed. The stock rose 1.9% on 24 July 2026 and 7.6% on 31 July 2025, but fell 2.1% on 25 May 2026, 1.7% on 30 January 2026, 4.2% on 3 November 2025 and 4.7% on 7 May 2025. It had also risen 5.8% on 12 August 2024 and 3.3% on 30 May 2024.
| After the filing | Stock | Castings & Forgings median |
|---|---|---|
| 15 minutes | +2.2% | |
| 30 minutes | +2.1% | |
| Reaction day | +3.0% | +0.5% |
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 |
|---|---|
| 24 July 2026 | +1.9% |
| 25 May 2026 | −2.1% |
| 30 January 2026 | −1.7% |
| 3 November 2025 | −4.2% |
| 31 July 2025 | +7.6% |
| 7 May 2025 | −4.7% |
| 12 August 2024 | +5.8% |
| 30 May 2024 | +3.3% |
Source: MarketPing price-reaction measurement.
How did other Castings & Forgings companies do?
Nine other Castings & Forgings companies had filed for the quarter by 6 November 2026. Their median revenue growth was 25.5%, compared with Smiths & Founders’ 2.1% revenue growth in Q2 FY27. Of these companies, 2 grew slower than Smiths & Founders and 7 grew faster than Smiths & Founders.
Seven of the nine peers reported higher profit. Smiths & Founders’ net profit rose 8.7% from Q2 FY26, while its EBITDA fell 4.9% and its EBITDA margin declined 0.8 percentage points to 10.0%.
| Smiths & Founders revenue growth (YoY) | +2.1% |
|---|---|
| Median of 9 other Castings & Forgings companies | +25.5% |
| Companies with slower revenue growth than Smiths & Founders | 2 of 9 |
| Companies with faster revenue growth than Smiths & Founders | 7 of 9 |
| Companies whose net profit rose | 7 of 9 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Smiths & Founders' revenue in Q2 FY27?
Revenue from operations was ₹3.90 crore, up 2.1% from ₹3.82 crore in Q2 FY26 (standalone).
Did Smiths & Founders make a profit in Q2 FY27?
Yes. Net profit was ₹0.25 crore, against a net profit of ₹0.23 crore in Q2 FY26.
What was Smiths & Founders' EPS in Q2 FY27?
Basic earnings per share were ₹0.02, against ₹0.02 in Q2 FY26.
How did Smiths & Founders shares react to the Q2 FY27 results?
On the reaction day the stock moved +3.0% from the previous close; the median Castings & Forgings stock moved +0.5%.
When did Smiths & Founders announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of The Un-Audited Financial Results For The Quarter And Half Year Ended September 30, 2026. (BSE, 29 October 2026) · PDF
- Board Meeting Outcome for Board Meeting Outcome For Meeting Held On 05.11.2026 (BSE, 5 November 2026) · PDF
- Unaudited Financial Results Along With Statement Of Assets And Liabilities And Cash Flow Statement 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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