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Sukhjit Starch & Chemicals Q2 FY27 results: net profit ₹27.42 crore vs ₹4.30 crore, revenue up 155.5%
Sukhjit Starch & Chemicals Limited reported consolidated revenue of ₹803.73 crore and net profit of ₹27.42 crore for Q2 FY27. EBITDA was ₹65.25 crore, with an 8.1% margin, compared with ₹314.61 crore of revenue, ₹4.30 crore of net profit and an 5.8% EBITDA margin in Q2 FY26. On a standalone basis, revenue was ₹803.61 crore and net profit was ₹28.36 crore.
Key points
- Consolidated revenue was ₹803.73 crore in Q2 FY27, up 155.5% from ₹314.61 crore in Q2 FY26.
- EBITDA rose to ₹65.25 crore from ₹18.21 crore, while EBITDA margin increased to 8.1% from 5.8%.
- Net profit increased to ₹27.42 crore from ₹4.30 crore, and basic EPS was ₹8.78 compared with ₹1.38.
- Against Q1 FY27, revenue rose to ₹803.73 crore from ₹395.65 crore and net profit increased to ₹27.42 crore from ₹12.15 crore.
- For H1 FY27, operating cash flow was ₹79.85 crore, compared with negative ₹80.33 crore in H1 FY26.
How did Sukhjit Starch & Chemicals perform in Q2 FY27?
Sukhjit Starch & Chemicals reported consolidated revenue of ₹803.73 crore for Q2 FY27, against ₹314.61 crore in Q2 FY26 and ₹395.65 crore in Q1 FY27. The year-on-year increase was 155.5%, while revenue rose 103.1% from the previous quarter. Total income was ₹806.80 crore, compared with ₹319.20 crore a year earlier and ₹396.65 crore in the preceding quarter.
Consolidated EBITDA was ₹65.25 crore, compared with ₹18.21 crore in Q2 FY26 and ₹30.15 crore in Q1 FY27. EBITDA margin was 8.1%, compared with 5.8% a year earlier and 7.6% in the previous quarter, an increase of 2.3 percentage points year on year and 0.5 percentage points sequentially. Profit before tax was ₹36.42 crore, compared with ₹4.91 crore and ₹15.85 crore, respectively.
The company reported a net profit of ₹27.42 crore, against ₹4.30 crore in Q2 FY26 and ₹12.15 crore in Q1 FY27. Basic EPS was ₹8.78, compared with ₹1.38 a year earlier and ₹3.89 in the previous quarter. On a standalone basis, Q2 FY27 revenue was ₹803.61 crore and net profit was ₹28.36 crore, compared with standalone revenue of ₹679.88 crore and net profit of ₹4.07 crore in the year-ago period.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 803.73 | 395.65 | 314.61 | +155.5% | +103.1% |
| Other income | 3.07 | 1 | 4.59 | −33.1% | +207.0% |
| Total expenses | 770.38 | 380.80 | 314.29 | +145.1% | +102.3% |
| EBITDA | 65.25 | 30.15 | 18.21 | +258.3% | +116.4% |
| EBITDA margin | 8.1% | 7.6% | 5.8% | +2.3 pp | +0.5 pp |
| Profit before tax | 36.42 | 15.85 | 4.91 | +641.8% | +129.8% |
| Tax | 9 | 3.70 | 0.61 | +1375.4% | +143.2% |
| Net profit | 27.42 | 12.15 | 4.30 | +537.7% | +125.7% |
| EPS (₹) | 8.78 | 3.89 | 1.38 | +536.2% | +125.7% |
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 Sukhjit Starch & Chemicals' costs and profit?
The main reported expense movement was in cost of materials, which rose to ₹543.50 crore from ₹247.19 crore in Q2 FY26, an increase of ₹296.31 crore. Employee cost increased by ₹17.78 crore to ₹34.89 crore, depreciation rose by ₹8.63 crore to ₹17.68 crore, and finance costs increased by ₹5.38 crore to ₹14.22 crore. Other expenses were higher by ₹84.71 crore at ₹138.47 crore. Total expenses increased by ₹456.09 crore to ₹770.38 crore.
Other income declined by ₹1.52 crore to ₹3.07 crore from ₹4.59 crore in Q2 FY26. The company reported no exceptional item in either the year-ago quarter or Q2 FY27. Tax expense increased by ₹8.39 crore to ₹9 crore from ₹0.61 crore, while profit before tax rose by ₹31.51 crore to ₹36.42 crore and net profit rose by ₹23.12 crore to ₹27.42 crore.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 543.50 | 247.19 | +296.31 | +119.9% |
| Employee cost | 34.89 | 17.11 | +17.78 | +103.9% |
| Finance costs | 14.22 | 8.84 | +5.38 | +60.9% |
| Depreciation | 17.68 | 9.05 | +8.63 | +95.4% |
| Other expenses | 138.47 | 53.76 | +84.71 | +157.6% |
| Total expenses | 770.38 | 314.29 | +456.09 | +145.1% |
| Other income | 3.07 | 4.59 | −1.52 | −33.1% |
| Tax | 9 | 0.61 | +8.39 | +1375.4% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹1,076.97 crore, compared with ₹1,089.28 crore at 31 March 2026. Total equity increased to ₹593.83 crore from ₹567.37 crore, while borrowings fell to ₹308.82 crore from ₹330.23 crore. Cash and cash equivalents were ₹0.81 crore, compared with ₹0.71 crore. Inventories declined to ₹248.08 crore from ₹301.89 crore.
Trade receivables increased to ₹96.58 crore from ₹94.37 crore, while trade payables fell to ₹46.53 crore from ₹76.22 crore. For H1 FY27, net operating cash flow was ₹79.85 crore, compared with negative ₹80.33 crore in H1 FY26. Investing cash flow was negative ₹53.61 crore against negative ₹2.13 crore, while financing cash flow was negative ₹25.10 crore compared with positive ₹82.67 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 1,077 | 1,089 |
| Total equity | 593.83 | 567.37 |
| Borrowings | 308.82 | 330.23 |
| Cash and equivalents | 0.81 | 0.71 |
| Inventories | 248.08 | 301.89 |
| Trade receivables | 96.58 | 94.37 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 79.85 | −80.33 |
| Cash from investing | −53.61 | −2.13 |
| Cash from financing | −25.10 | 82.67 |
| Capital expenditure | 11 | −3.45 |
Source: Company's results filing (XBRL).
How has Sukhjit Starch & Chemicals done over the last 8 quarters?
The latest quarter marked the highest revenue, net profit and EBITDA margin in the eight-quarter series. Revenue reached ₹803.73 crore, compared with its earlier low of ₹314.61 crore in Q2 FY26. Net profit was ₹27.42 crore, against a low of ₹2.80 crore in Q4 FY25, while EBITDA margin rose to 8.1% from a low of 4.7%.
Revenue and profit increased year on year in each of the last three quarters. After revenue rose to ₹347.00 crore in Q3 FY26 and ₹401.69 crore in Q4 FY26, it reached ₹395.65 crore in Q1 FY27 before rising to ₹803.73 crore. Net profit followed a similar upward direction, moving from ₹3.13 crore in Q3 FY26 to ₹14.59 crore in Q4 FY26, ₹12.15 crore in Q1 FY27 and ₹27.42 crore in Q2 FY27.
Which businesses drove the quarter?
The Maize Processing Division reported revenue of ₹805.58 crore, up 154.5% from ₹316.58 crore in the year-ago quarter. Its EBIT was ₹51.78 crore, compared with ₹12.95 crore, and the reported EBIT margin was 6.4%.
The Infrastructure Division reported revenue of ₹36.22 crore, up 121.0% from ₹16.39 crore a year earlier. Its EBIT was a loss of ₹1.36 crore, compared with EBIT of ₹0.38 crore, with a reported EBIT margin of -3.8%. The Others segment reported revenue of ₹0.23 crore, down 45.2% from ₹0.42 crore, and EBIT of ₹0.22 crore compared with ₹0.42 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Maize processing Division | 805.58 | +154.5% | 51.78 | 6.4% |
| Infrastructure Division | 36.22 | +121.0% | −1.36 | -3.8% |
| Others | 0.23 | −45.2% | 0.22 | 95.7% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The company filed the outcome of its board meeting on 23 October 2026, approving the standalone and consolidated unaudited financial results for the quarter and half year ended 30 September 2026. The filing also included limited review reports from the statutory auditors, dated 23 October 2026, and an extract of the results for newspaper publication. No dividend or fund-raising matter was stated in the same-day filings provided.
The same-day filing said that the board committees had been reconstituted after the induction of new independent directors, effective 23 October 2026. Suresh Arora was named chairman of the Audit Committee, Vikas Uppal chairman of the Stakeholders’ Relationship Committee and Nomination & Remuneration Committee, and K.K. Sardana chairman of the Corporate Social Responsibility Committee.
How did Sukhjit Starch & Chemicals shares react?
The filing appeared during market hours. From the price when it was published, the stock rose 8.8% after five minutes, 7.1% after 15 minutes and 4.7% after 30 minutes. It closed the reaction day 5.7% above the previous close of ₹140.05; by the next day’s close it was 4.4% above that pre-results close, and after five sessions it was 0.7% below it.
Earlier results-day reactions were mixed: the stock fell 7.6% on 29 July 2026, 2.9% on 27 May 2026 and 8.2% on 12 February 2026. It rose 2.1% on 13 November 2025 and 0.7% on 12 August 2025, before falls of 7.2% on 30 May 2025 and gains of 1.8% on 10 February 2025 and 7.2% on 6 November 2024.
| After the filing | Stock | Other Agricultural Products median |
|---|---|---|
| 5 minutes | +8.8% | |
| 15 minutes | +7.1% | |
| 30 minutes | +4.7% | |
| Reaction day | +5.7% | −1.3% |
| Next day | +4.4% | −2.2% |
| 5 days | −0.7% | −1.3% |
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 |
|---|---|
| 29 July 2026 | −7.6% |
| 27 May 2026 | −2.9% |
| 12 February 2026 | −8.2% |
| 13 November 2025 | +2.1% |
| 12 August 2025 | +0.7% |
| 30 May 2025 | −7.2% |
| 10 February 2025 | +1.8% |
| 6 November 2024 | +7.2% |
Source: MarketPing price-reaction measurement.
How did other Other Agricultural Products companies do?
Sixteen other Other Agricultural Products companies had filed for the quarter by 4 November 2026. Their median revenue growth was 12.9%, while 13 peers grew revenue more slowly than Sukhjit Starch & Chemicals and 3 peers grew faster than the company. Among the 15 peers for which profit was compared, 8 reported higher profit.
| Sukhjit Starch & Chemicals revenue growth (YoY) | +155.5% |
|---|---|
| Median of 16 other Other Agricultural Products companies | +12.9% |
| Companies with slower revenue growth than Sukhjit Starch & Chemicals | 13 of 16 |
| Companies with faster revenue growth than Sukhjit Starch & Chemicals | 3 of 16 |
| Companies whose net profit rose | 8 of 15 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Sukhjit Starch & Chemicals' revenue in Q2 FY27?
Revenue from operations was ₹803.73 crore, up 155.5% from ₹314.61 crore in Q2 FY26 (consolidated).
Did Sukhjit Starch & Chemicals make a profit in Q2 FY27?
Yes. Net profit was ₹27.42 crore, against a net profit of ₹4.30 crore in Q2 FY26.
What was Sukhjit Starch & Chemicals' EPS in Q2 FY27?
Basic earnings per share were ₹8.78, against ₹1.38 in Q2 FY26.
How did Sukhjit Starch & Chemicals shares react to the Q2 FY27 results?
On the reaction day the stock moved +5.7% from the previous close; the median Other Agricultural Products stock moved −1.3%.
When did Sukhjit Starch & Chemicals announce its Q2 FY27 results?
On 23 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for Unaudited Financial Results (Standalone & Consolidated) Of The Company For The Quarter / Half Year Ended 30/09/2026. (BSE, 12 October 2026) · PDF
- Outcome of Board Meeting (NSE, 23 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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