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Suraj Q2 FY27 results: net profit ₹3.25 crore vs ₹0.83 crore, revenue up 10.8%
Suraj Limited reported consolidated revenue of ₹55.63 crore in Q2 FY27, up 10.8% from Q2 FY26 and 42.5% from Q1 FY27. EBITDA rose to ₹6.94 crore, while net profit declined from the previous quarter to ₹3.25 crore; basic EPS was ₹1.77.
Key points
- Consolidated revenue was ₹55.63 crore in Q2 FY27, up 10.8% year on year and 42.5% sequentially.
- EBITDA was ₹6.94 crore, with an EBITDA margin of 12.5%, compared with 7.3% in Q2 FY26 and 16.5% in Q1 FY27.
- Net profit was ₹3.25 crore, up 291.6% from Q2 FY26 but down 9.5% from Q1 FY27; basic EPS was ₹1.77.
- H1 FY27 revenue was ₹94.65 crore, while net profit was ₹6.84 crore and EPS was ₹3.73.
- Total assets were ₹242.63 crore and total equity was ₹144.61 crore as of 30 September 2026.
How did Suraj perform in Q2 FY27?
Suraj reported consolidated revenue of ₹55.63 crore for Q2 FY27, compared with ₹50.19 crore in Q2 FY26 and ₹39.03 crore in Q1 FY27. Total income was ₹56.22 crore. EBITDA was ₹6.94 crore and the EBITDA margin was 12.5%, against 7.3% a year earlier and 16.5% in the previous quarter.
Profit before tax was ₹4.19 crore in Q2 FY27, up from ₹1.19 crore in Q2 FY26 but down from ₹4.79 crore in Q1 FY27. After tax of ₹1.24 crore, net profit was ₹3.25 crore and basic EPS was ₹1.77. On the standalone basis, revenue was ₹55.63 crore, net profit was ₹2.95 crore and profit before tax was ₹0.55 crore.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 55.63 | 39.03 | 50.19 | +10.8% | +42.5% |
| Other income | 0.60 | 0.89 | 1.23 | −51.2% | −32.6% |
| Total expenses | 52.04 | 35.13 | 50.23 | +3.6% | +48.1% |
| EBITDA | 6.94 | 6.43 | 3.67 | +89.1% | +7.9% |
| EBITDA margin | 12.5% | 16.5% | 7.3% | +5.2 pp | −4.0 pp |
| Profit before tax | 4.19 | 4.79 | 1.19 | +252.1% | −12.5% |
| Tax | 1.24 | 1.54 | 0.64 | +93.8% | −19.5% |
| Net profit | 3.25 | 3.59 | 0.83 | +291.6% | −9.5% |
| EPS (₹) | 1.77 | 1.95 | 0.45 | +293.3% | −9.2% |
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 Suraj's costs and profit?
Total expenses increased by ₹1.81 crore from Q2 FY26 to ₹52.04 crore in Q2 FY27. Cost of materials fell by ₹3.56 crore, employee cost fell by ₹0.19 crore and depreciation fell by ₹0.77 crore, while finance costs rose by ₹0.41 crore and other expenses rose by ₹0.30 crore.
Other income fell by ₹0.63 crore from ₹1.23 crore in Q2 FY26 to ₹0.60 crore in Q2 FY27. There was no exceptional item in either quarter. Tax expense rose by ₹0.60 crore, from ₹0.64 crore to ₹1.24 crore. EBITDA rose by ₹3.27 crore, while net profit increased by ₹2.42 crore from the year-ago quarter.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 35.77 | 39.33 | −3.56 | −9.1% |
| Employee cost | 5.17 | 5.36 | −0.19 | −3.5% |
| Finance costs | 1.24 | 0.83 | +0.41 | +49.4% |
| Depreciation | 2.11 | 2.88 | −0.77 | −26.7% |
| Other expenses | 11.45 | 11.15 | +0.30 | +2.7% |
| Total expenses | 52.04 | 50.23 | +1.81 | +3.6% |
| Other income | 0.60 | 1.23 | −0.63 | −51.2% |
| Tax | 1.24 | 0.64 | +0.60 | +93.8% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Suraj reported consolidated revenue of ₹94.65 crore, total income of ₹96.14 crore and profit before tax of ₹8.97 crore. Net profit was ₹6.84 crore and EPS was ₹3.73. Revenue was lower than H1 FY26, while profit before tax and net profit were higher.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 94.65 | 100.53 | −5.8% |
| Profit before tax | 8.97 | 3.37 | +166.2% |
| Net profit | 6.84 | 3.57 | +91.6% |
| EPS (₹) | 3.73 | 1.95 | +91.3% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, total assets were ₹242.63 crore, compared with ₹226.01 crore at 31 March 2026. Total equity was ₹144.61 crore, compared with ₹137.76 crore, while borrowings were ₹70.17 crore against ₹60.3 crore. Cash was ₹0.09 crore against ₹0.12 crore; inventories were ₹77.06 crore and trade receivables were ₹29.34 crore.
H1 FY27 operating cash flow was ₹3.33 crore, compared with ₹23.72 crore in H1 FY26. Investing cash flow was negative ₹10.85 crore, compared with negative ₹1.49 crore, and financing cash flow was ₹7.49 crore, compared with negative ₹22.24 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 242.63 | 226.01 |
| Total equity | 144.61 | 137.76 |
| Borrowings | 70.17 | 60.30 |
| Cash and equivalents | 0.09 | 0.12 |
| Inventories | 77.06 | 62.93 |
| Trade receivables | 29.34 | 36.70 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 3.33 | 23.72 |
| Cash from investing | −10.85 | −1.49 |
| Cash from financing | 7.49 | −22.24 |
| Capital expenditure | 0 | 3.74 |
Source: Company's results filing (XBRL).
How has Suraj done over the last 8 quarters?
Revenue reached a high of ₹63.61 crore in Q3 FY25 and a low of ₹39.03 crore in Q1 FY27 before rising to ₹55.63 crore in Q2 FY27. Net profit reached a high of ₹7.06 crore in Q3 FY25 and a low of ₹5.92 crore in Q4 FY25, while the latest quarterly profit was ₹3.25 crore.
The EBITDA margin reached a high of 20.6% in Q3 FY25 and a low of -3.7% in Q4 FY25. It stood at 12.5% in Q2 FY27 after 16.5% in Q1 FY27. Profit rose year on year in each of the last two quarters.
What else did the company announce?
The board approved the unaudited standalone and consolidated financial results and the limited review report for the quarter and half year ended 30 September 2026. The same-day filing appointed Mayank Balvantbhai Rami as Company Secretary, Compliance Officer and Key Managerial Personnel with effect from 1 November 2026, following Rashmi Lakhani’s resignation effective from the close of business on 31 October 2026.
How did Suraj shares react?
After the filing appeared, Suraj’s share price was up 1.2% after 5 minutes, 1.2% after 15 minutes and 1.1% after 30 minutes. The stock closed the reaction day up 1.4% from its previous close. By the next day’s close, it was down 3.8% from the pre-results close.
| After the filing | Stock | Iron & Steel Products median |
|---|---|---|
| 5 minutes | +1.2% | |
| 15 minutes | +1.2% | |
| 30 minutes | +1.1% | |
| Reaction day | +1.4% | +0.0% |
| Next day | −3.8% | −1.0% |
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 |
|---|---|
| 23 July 2026 | +3.6% |
| 7 May 2026 | +1.5% |
| 16 January 2026 | +7.1% |
| 10 November 2025 | +0.4% |
| 24 July 2025 | −4.0% |
| 26 May 2025 | −0.5% |
| 3 February 2025 | +2.4% |
| 21 October 2024 | +0.0% |
Source: MarketPing price-reaction measurement.
How did other Iron & Steel Products companies do?
Among other Iron & Steel Products companies that had filed for the quarter, 26 were compared for revenue growth and the median revenue growth was 25.5%. Of the peers with available profit comparisons, 20 reported higher profit.
| Suraj revenue growth (YoY) | +10.8% |
|---|---|
| Median of 26 other Iron & Steel Products companies | +25.5% |
| Companies with slower revenue growth than Suraj | 8 of 26 |
| Companies with faster revenue growth than Suraj | 18 of 26 |
| Companies whose net profit rose | 20 of 31 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Suraj's revenue in Q2 FY27?
Revenue from operations was ₹55.63 crore, up 10.8% from ₹50.19 crore in Q2 FY26 (consolidated).
Did Suraj make a profit in Q2 FY27?
Yes. Net profit was ₹3.25 crore, against a net profit of ₹0.83 crore in Q2 FY26.
What was Suraj's EPS in Q2 FY27?
Basic earnings per share were ₹1.77, against ₹0.45 in Q2 FY26.
How did Suraj shares react to the Q2 FY27 results?
On the reaction day the stock moved +1.4% from the previous close; the median Iron & Steel Products stock moved +0.0%.
When did Suraj announce its Q2 FY27 results?
On 29 October 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for SURAJ LIMITED Has Informed The Exchange About Board Meeting To Be Held On 29-Oct-2026 To Inter-Alia Consider And Approve The Unaudited Financial Results Of The Company For The Quarterly And Half Yearly Ended September 2026 (BSE, 21 October 2026) · PDF
- Outcome of Board Meeting (NSE, 29 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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