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Surana Solar Q2 FY27 results: net profit up 38.9% to ₹0.75 crore, revenue ₹10.23 crore vs ₹2.58 crore
Surana Solar Limited reported standalone Q2 FY27 revenue of ₹10.23 crore, up 296.5% from Q2 FY26. EBITDA turned to ₹1.03 crore from a loss of ₹2.34 crore, while net profit rose 38.9% to ₹0.75 crore and basic EPS increased to ₹0.15.
Key points
- Revenue was ₹10.23 crore in Q2 FY27, up 296.5% from ₹2.58 crore in Q2 FY26 but down 40.3% from ₹17.15 crore in Q1 FY27.
- EBITDA was ₹1.03 crore, compared with a loss of ₹2.34 crore in Q2 FY26, while the EBITDA margin improved to 10.1% from -90.9%.
- Net profit was ₹0.75 crore, up 38.9% year on year but down 86.2% from ₹5.44 crore in Q1 FY27; basic EPS was ₹0.15.
- H1 FY27 revenue rose 487.6% to ₹27.38 crore, while net profit rose 654.9% to ₹6.19 crore.
- The stock was up 2.4% on the reaction day and had fallen 4.5% by the fifth session from the pre-results close.
How did Surana Solar perform in Q2 FY27?
Surana Solar reported standalone revenue of ₹10.23 crore in Q2 FY27, up 296.5% from ₹2.58 crore in Q2 FY26. Total income rose 72.3% to ₹10.77 crore, and EBITDA turned to ₹1.03 crore from a loss of ₹2.34 crore. The EBITDA margin improved by 101.0 percentage points to 10.1%.
Against Q1 FY27, revenue fell 40.3% from ₹17.15 crore and total income declined 54.2% from ₹23.51 crore. EBITDA rose 80.7% from ₹0.57 crore, and its margin increased by 6.8 percentage points to 10.1%.
Profit before tax was ₹1.03 crore, compared with ₹6.37 crore in Q1 FY27. Net profit fell 86.2% to ₹0.75 crore from ₹5.44 crore, while basic EPS declined to ₹0.15 from ₹1.11. The results are presented on a standalone basis.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 10.23 | 17.15 | 2.58 | +296.5% | −40.3% |
| Other income | 0.54 | 6.36 | 3.67 | −85.3% | −91.5% |
| Total expenses | 9.74 | 17.14 | 5.52 | +76.4% | −43.2% |
| EBITDA | 1.03 | 0.57 | −2.34 | turned to profit | +80.7% |
| EBITDA margin | 10.1% | 3.3% | -90.9% | +101.0 pp | +6.8 pp |
| Profit before tax | 1.03 | 6.37 | 0.73 | +41.1% | −83.8% |
| Tax | 0.28 | 0.93 | 0.19 | +47.4% | −69.9% |
| Net profit | 0.75 | 5.44 | 0.54 | +38.9% | −86.2% |
| EPS (₹) | 0.15 | 1.11 | 0.11 | +36.4% | −86.5% |
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 Surana Solar's costs and profit?
Total expenses rose 76.4% year on year to ₹9.74 crore, mainly alongside cost of materials, which increased 110.3% by ₹4.16 crore to ₹7.93 crore. Employee cost fell ₹0.27 crore to ₹0.38 crore, finance costs fell ₹0.06 crore to ₹0 crore, depreciation fell ₹0.01 crore to ₹0.54 crore and other expenses fell ₹0.31 crore to ₹0.60 crore.
Other income declined 85.3% year on year by ₹3.13 crore to ₹0.54 crore. Despite the reduction in other income, EBITDA moved to ₹1.03 crore from a loss of ₹2.34 crore, and profit before tax rose ₹0.30 crore to ₹1.03 crore. There was no exceptional item in either Q2 FY27 or Q2 FY26.
Tax expense increased ₹0.09 crore to ₹0.28 crore, or 47.4%, while net profit rose 38.9% to ₹0.75 crore. The filing did not state why the changes in other income, costs or profit occurred.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 7.93 | 3.77 | +4.16 | +110.3% |
| Employee cost | 0.38 | 0.65 | −0.27 | −41.5% |
| Finance costs | 0 | 0.06 | −0.06 | |
| Depreciation | 0.54 | 0.55 | −0.01 | −1.8% |
| Other expenses | 0.60 | 0.91 | −0.31 | −34.1% |
| Total expenses | 9.74 | 5.52 | +4.22 | +76.4% |
| Other income | 0.54 | 3.67 | −3.13 | −85.3% |
| Tax | 0.28 | 0.19 | +0.09 | +47.4% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Surana Solar's standalone revenue rose 487.6% to ₹27.38 crore from ₹4.66 crore in H1 FY26. Total income increased 220.3% to ₹34.27 crore from ₹10.7 crore, while profit before tax rose 572.7% to ₹7.4 crore from ₹1.1 crore.
Net profit for the first half increased 654.9% to ₹6.19 crore from ₹0.82 crore, and basic EPS rose to ₹1.26 from ₹0.17. The board approved the unaudited quarter and half-year results on 26 October 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 27.38 | 4.66 | +487.6% |
| Profit before tax | 7.40 | 1.10 | +572.7% |
| Net profit | 6.19 | 0.82 | +654.9% |
| EPS (₹) | 1.26 | 0.17 | +641.2% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets rose to ₹73.97 crore as on 30 September 2026 from ₹67.36 crore on 31 March 2026, while total equity increased to ₹63.66 crore from ₹57.47 crore. Borrowings were ₹0 crore on both dates, and cash and cash equivalents rose to ₹1.37 crore from ₹0.86 crore.
Inventories fell to ₹10.06 crore from ₹18.18 crore, trade receivables increased to ₹1.9 crore from ₹0.55 crore, and trade payables rose to ₹3.81 crore from ₹1.07 crore. H1 FY27 operating cash flow was ₹8.86 crore, compared with ₹6.64 crore in H1 FY26.
Investing cash flow was negative ₹8.47 crore in H1 FY27 against negative ₹5.26 crore a year earlier, while financing cash flow was ₹0.12 crore against negative ₹2.1 crore. Capital expenditure was ₹0.68 crore, compared with ₹16.82 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 73.97 | 67.36 |
| Total equity | 63.66 | 57.47 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 1.37 | 0.86 |
| Inventories | 10.06 | 18.18 |
| Trade receivables | 1.90 | 0.55 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 8.86 | 6.64 |
| Cash from investing | −8.47 | −5.26 |
| Cash from financing | 0.12 | −2.10 |
| Capital expenditure | 0.68 | 16.82 |
Source: Company's results filing (XBRL).
How has Surana Solar done over the last 8 quarters?
Revenue reached a high of ₹17.15 crore in Q1 FY27 after ₹13.61 crore in Q4 FY26, before falling to ₹10.23 crore in Q2 FY27. The low in the series was ₹2.09 crore in Q1 FY26. Revenue has risen year on year in each of the last three quarters.
Net profit peaked at ₹5.44 crore in Q1 FY27 and fell to ₹0.75 crore in Q2 FY27. Its low was a loss of ₹0.71 crore in Q4 FY25, while profit has risen year on year in each of the last two quarters.
The EBITDA margin improved from -90.9% in Q2 FY26 to 10.1% in Q2 FY27, after 29.8% in Q3 FY26, 0.6% in Q4 FY26 and 3.3% in Q1 FY27. The low in the series was -79.0% in Q1 FY26.
How did Surana Solar shares react?
By the next day's close, the stock was unchanged from its pre-results close, and by the fifth session it was down 4.5%. The Trading & Distributors industry median was unchanged on the reaction day and next day, then up 0.7% by the fifth session, leaving Surana Solar 5.2 percentage points behind the industry median by then.
| After the filing | Stock | Trading & Distributors median |
|---|---|---|
| 5 minutes | +0.0% | |
| 15 minutes | +0.0% | |
| 30 minutes | +0.1% | |
| Reaction day | +2.4% | +0.0% |
| Next day | +0.0% | +0.0% |
| 5 days | −4.5% | +0.7% |
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 |
|---|---|
| 25 July 2026 | +6.0% |
| 29 April 2026 | +1.7% |
| 29 January 2026 | +0.1% |
| 29 October 2025 | +1.3% |
| 3 July 2025 | −1.4% |
| 3 May 2025 | −2.0% |
| 24 January 2025 | −3.9% |
| 21 October 2024 | +4.7% |
Source: MarketPing price-reaction measurement.
How did other Trading & Distributors companies do?
Among 24 other Trading & Distributors companies compared for revenue growth, the median was 31.0%. Nineteen peers grew more slowly than Surana Solar, while five grew faster than the company.
Of the 36 peers for which profit was compared, 20 reported higher profit. The peer comparison was available as on 4 November 2026.
| Surana Solar revenue growth (YoY) | +296.5% |
|---|---|
| Median of 24 other Trading & Distributors companies | +31.0% |
| Companies with slower revenue growth than Surana Solar | 19 of 24 |
| Companies with faster revenue growth than Surana Solar | 5 of 24 |
| Companies whose net profit rose | 20 of 36 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Surana Solar's revenue in Q2 FY27?
Revenue from operations was ₹10.23 crore, up 296.5% from ₹2.58 crore in Q2 FY26 (standalone).
Did Surana Solar make a profit in Q2 FY27?
Yes. Net profit was ₹0.75 crore, against a net profit of ₹0.54 crore in Q2 FY26.
What was Surana Solar's EPS in Q2 FY27?
Basic earnings per share were ₹0.15, against ₹0.11 in Q2 FY26.
How did Surana Solar shares react to the Q2 FY27 results?
On the reaction day the stock moved +2.4% from the previous close; the median Trading & Distributors stock moved +0.0%.
When did Surana Solar announce its Q2 FY27 results?
On 26 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Meeting To Be Held On 26.10.2026 (BSE, 21 October 2026) · PDF
- Board Meeting Outcome for OUTCOME OF THE BOARD MEETING HELD ON 26.10.2026 (BSE, 26 October 2026) · PDF
- FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED ON 30.09.2026 (BSE, 26 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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