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Vardhman Acrylics Q2 FY27 results: net profit up 136.8% to ₹5.92 crore, revenue up 26.8%
Vardhman Acrylics Limited reported standalone revenue of ₹113.38 crore in Q2 FY27, up 26.8% from the year-ago quarter. Net profit rose to ₹5.92 crore and EBITDA increased to ₹5.83 crore, but both were lower than in Q1 FY27.
Key points
- Standalone Q2 FY27 revenue was ₹113.38 crore, up 26.8% from ₹89.40 crore in Q2 FY26.
- EBITDA was ₹5.83 crore in Q2 FY27, compared with ₹0.17 crore in the year-ago quarter; the margin was 5.1% against 0.2%.
- Net profit was ₹5.92 crore, up from ₹2.50 crore a year earlier, while basic EPS was ₹0.74 against ₹0.31.
- Against Q1 FY27, revenue rose 44.9% to ₹113.38 crore, but net profit fell 63.5% to ₹5.92 crore.
- H1 FY27 revenue was ₹191.63 crore, up 20.7% from ₹158.79 crore, and net profit was ₹22.14 crore against ₹4.25 crore.
How did Vardhman Acrylics perform in Q2 FY27?
Vardhman Acrylics reported standalone revenue of ₹113.38 crore in Q2 FY27, up 26.8% from ₹89.40 crore in Q2 FY26 and 44.9% from ₹78.25 crore in Q1 FY27. EBITDA was ₹5.83 crore, with a margin of 5.1%, compared with ₹0.17 crore and 0.2% a year earlier and ₹17.73 crore and 22.7% in the previous quarter.
Profit before tax was ₹7.93 crore in Q2 FY27, up from ₹3.24 crore in Q2 FY26 but lower than ₹20.92 crore in Q1 FY27. Net profit was ₹5.92 crore, compared with ₹2.50 crore and ₹16.22 crore, respectively, while basic EPS was ₹0.74 against ₹0.31 and ₹2.02. The figures are on a standalone basis.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 113.38 | 78.25 | 89.40 | +26.8% | +44.9% |
| Other income | 2.91 | 3.98 | 3.83 | −24.0% | −26.9% |
| Total expenses | 108.36 | 61.31 | 89.99 | +20.4% | +76.7% |
| EBITDA | 5.83 | 17.73 | 0.17 | +3329.4% | −67.1% |
| EBITDA margin | 5.1% | 22.7% | 0.2% | +4.9 pp | −17.6 pp |
| Profit before tax | 7.93 | 20.92 | 3.24 | +144.8% | −62.1% |
| Tax | 2.01 | 4.70 | 0.74 | +171.6% | −57.2% |
| Net profit | 5.92 | 16.22 | 2.50 | +136.8% | −63.5% |
| EPS (₹) | 0.74 | 2.02 | 0.31 | +138.7% | −63.4% |
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 Vardhman Acrylics' costs and profit?
Total expenses increased to ₹108.36 crore in Q2 FY27 from ₹89.99 crore in Q2 FY26. Cost of materials was higher by ₹24.08 crore at ₹78.95 crore, while employee cost fell by ₹0.10 crore to ₹5.35 crore, other expenses declined by ₹0.37 crore to ₹16.37 crore, finance costs rose by ₹0.03 crore to ₹0.06 crore, and depreciation increased by ₹0.02 crore to ₹0.75 crore.
Other income fell by ₹0.92 crore to ₹2.91 crore from ₹3.83 crore, and there was no exceptional item in either quarter. Tax expense increased by ₹1.27 crore to ₹2.01 crore from ₹0.74 crore. Despite the higher expenses and lower other income, EBITDA rose by ₹5.66 crore and profit before tax increased by ₹4.69 crore against the year-ago quarter.
From Q1 FY27, total expenses were higher by ₹47.05 crore, mainly reflecting a ₹25.27 crore increase in cost of materials and a ₹3.48 crore rise in other expenses. Other income declined by ₹1.07 crore, while tax expense fell by ₹2.69 crore. EBITDA margin fell 17.6 percentage points to 5.1%, and the net profit margin declined 15.5 percentage points to 5.2%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 78.95 | 54.87 | +24.08 | +43.9% |
| Employee cost | 5.35 | 5.45 | −0.10 | −1.8% |
| Finance costs | 0.06 | 0.03 | +0.03 | +100.0% |
| Depreciation | 0.75 | 0.73 | +0.02 | +2.7% |
| Other expenses | 16.37 | 16.74 | −0.37 | −2.2% |
| Total expenses | 108.36 | 89.99 | +18.37 | +20.4% |
| Other income | 2.91 | 3.83 | −0.92 | −24.0% |
| Tax | 2.01 | 0.74 | +1.27 | +171.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue increased to ₹191.63 crore from ₹158.79 crore in H1 FY26, while total income rose to ₹198.52 crore from ₹166.28 crore. Profit before tax was ₹28.85 crore, compared with ₹5.54 crore, and net profit increased to ₹22.14 crore from ₹4.25 crore.
Basic EPS for the first half was ₹2.76, compared with ₹0.53 in H1 FY26. The company operates one segment, Acrylic Fibre, and reported no separate reportable segment under Ind AS 108. The results were approved by the Board of Directors in its meeting on 28 October 2026.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 191.63 | 158.79 | +20.7% |
| Profit before tax | 28.85 | 5.54 | +420.8% |
| Net profit | 22.14 | 4.25 | +420.9% |
| EPS (₹) | 2.76 | 0.53 | +420.8% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹385.03 crore, compared with ₹342.56 crore on 31 March 2026, and total equity was ₹264.01 crore against ₹253.92 crore. The company had no borrowings on either date, while cash and cash equivalents fell to ₹2.29 crore from ₹3.23 crore.
Inventories increased to ₹118.89 crore from ₹64.07 crore, trade receivables rose to ₹12.38 crore from ₹11.15 crore, and trade payables increased to ₹79.69 crore from ₹48.77 crore. In H1 FY27, net cash used in operating activities was ₹16.44 crore, compared with ₹11.30 crore in H1 FY26; investing activities generated ₹27.58 crore, compared with ₹50.67 crore, while financing activities used ₹12.08 crore against ₹12.21 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 385.03 | 342.56 |
| Total equity | 264.01 | 253.92 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 2.29 | 3.23 |
| Inventories | 118.89 | 64.07 |
| Trade receivables | 12.38 | 11.15 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −16.44 | −11.30 |
| Cash from investing | 27.58 | 50.67 |
| Cash from financing | −12.08 | −12.21 |
| Capital expenditure | 2.48 | 4.39 |
Source: Company's results filing (XBRL).
How has Vardhman Acrylics done over the last 8 quarters?
Revenue reached its highest level in the reported trend at ₹113.38 crore in Q2 FY27, while the lowest was ₹69.39 crore in Q1 FY26. Net profit peaked at ₹16.22 crore in Q1 FY27 and bottomed at ₹1.75 crore in Q1 FY26, before falling to ₹5.92 crore in the latest quarter.
The EBITDA margin peaked at 22.7% in Q1 FY27 and bottomed at -0.9% in Q1 FY26, then eased to 5.1% in Q2 FY27. Revenue has risen year on year in each of the last three quarters, while profit has risen year on year in each of the last five quarters.
How did Vardhman Acrylics shares react?
The filing appeared in the market, where the stock moved up 1.7% after five minutes, down 0.1% after 15 minutes and up 0.5% after 30 minutes. On the reaction day, it fell 2.2% from the previous close, and by the next day's close the cumulative move was down 2.7%.
Earlier reaction-day moves were 5.0% on 28 July 2026, 10.9% on 2 May 2026, -0.4% on 20 January 2026, 2.7% on 22 October 2025 and -2.2% on 19 July 2025.
| After the filing | Stock | Other Textile Products median |
|---|---|---|
| 5 minutes | +1.7% | |
| 15 minutes | −0.1% | |
| 30 minutes | +0.5% | |
| Reaction day | −2.2% | +0.0% |
| Next day | −2.7% | +0.0% |
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 |
|---|---|
| 28 July 2026 | +5.0% |
| 2 May 2026 | +10.9% |
| 20 January 2026 | −0.4% |
| 22 October 2025 | +2.7% |
| 19 July 2025 | −2.2% |
| 2 May 2025 | −0.3% |
| 18 January 2025 | −0.9% |
| 25 October 2024 | −5.6% |
Source: MarketPing price-reaction measurement.
How did other Other Textile Products companies do?
Among 61 Other Textile Products companies compared for the quarter, the median revenue growth was 22.4%. Of the other companies, 33 grew more slowly than Vardhman Acrylics and 28 grew faster than the company. Profit was higher for 43 of 64 peers compared, based on figures available as of 4 November 2026.
| Vardhman Acrylics revenue growth (YoY) | +26.8% |
|---|---|
| Median of 61 other Other Textile Products companies | +22.4% |
| Companies with slower revenue growth than Vardhman Acrylics | 33 of 61 |
| Companies with faster revenue growth than Vardhman Acrylics | 28 of 61 |
| Companies whose net profit rose | 43 of 64 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Vardhman Acrylics' revenue in Q2 FY27?
Revenue from operations was ₹113.38 crore, up 26.8% from ₹89.40 crore in Q2 FY26 (standalone).
Did Vardhman Acrylics make a profit in Q2 FY27?
Yes. Net profit was ₹5.92 crore, against a net profit of ₹2.50 crore in Q2 FY26.
What was Vardhman Acrylics' EPS in Q2 FY27?
Basic earnings per share were ₹0.74, against ₹0.31 in Q2 FY26.
How did Vardhman Acrylics shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.2% from the previous close; the median Other Textile Products stock moved +0.0%.
When did Vardhman Acrylics announce its Q2 FY27 results?
On 28 October 2026, in a filing to the NSE.
Sources
- Outcome of Board Meeting (NSE, 28 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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