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Vesuvius India Q2 FY27 results: net profit down 7.2% to ₹57.10 crore, revenue up 3.6%
Vesuvius India Limited reported standalone revenue of ₹566.84 crore in Q2 FY27, up 3.6% from the year-ago quarter, while EBITDA fell 5.1% to ₹87.66 crore and net profit declined 7.2% to ₹57.10 crore. The company’s financial year ends on 31 December, so the filing approved results for the third quarter and nine months ended 30 September 2026.
Key points
- Q2 FY27 revenue was ₹566.84 crore, up ₹19.80 crore or 3.6% from Q2 FY26.
- EBITDA was ₹87.66 crore in Q2 FY27, down ₹4.73 crore or 5.1% from the year-ago quarter; EBITDA margin fell 1.4 percentage points to 15.5%.
- Net profit was ₹57.10 crore, down ₹4.44 crore or 7.2% from Q2 FY26, and basic EPS fell to ₹2.82.
- Against Q1 FY27, revenue rose ₹30.67 crore or 5.7%, but net profit fell ₹1.41 crore or 2.4%.
- H1 FY27 revenue was ₹1602.86 crore, up 3.2% from H1 FY26, while net profit fell 6.7% to ₹171.46 crore.
How did Vesuvius India perform in Q2 FY27?
Vesuvius India reported standalone revenue of ₹566.84 crore in Q2 FY27, up ₹19.80 crore or 3.6% from Q2 FY26. EBITDA fell ₹4.73 crore or 5.1% to ₹87.66 crore, while the EBITDA margin declined 1.4 percentage points to 15.5%. Profit before tax was ₹76.85 crore, down ₹5.84 crore or 7.1%.
Net profit declined to ₹57.10 crore from ₹61.54 crore, down ₹4.44 crore or 7.2%, and basic EPS fell ₹0.21 or 6.9% to ₹2.82. Against Q1 FY27, revenue rose ₹30.67 crore or 5.7%, but EBITDA increased only ₹0.99 crore or 1.1%. PBT fell ₹1.85 crore or 2.4%, net profit fell ₹1.41 crore or 2.4%, and basic EPS fell ₹0.06 or 2.1%.
The figures are standalone and unaudited. The company’s financial year ends on 31 December, and the filing approved results for the third quarter and nine months ended 30 September 2026; the statutory auditors issued an unmodified limited-review opinion.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 566.84 | 536.17 | 547.04 | +3.6% | +5.7% |
| Other income | 7.81 | 10 | 7.23 | +8.0% | −21.9% |
| Total expenses | 497.80 | 467.47 | 471.58 | +5.6% | +6.5% |
| EBITDA | 87.66 | 86.67 | 92.39 | −5.1% | +1.1% |
| EBITDA margin | 15.5% | 16.2% | 16.9% | −1.4 pp | −0.7 pp |
| Profit before tax | 76.85 | 78.70 | 82.69 | −7.1% | −2.4% |
| Tax | 19.75 | 20.19 | 21.15 | −6.6% | −2.2% |
| Net profit | 57.10 | 58.51 | 61.54 | −7.2% | −2.4% |
| EPS (₹) | 2.82 | 2.88 | 3.03 | −6.9% | −2.1% |
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 Vesuvius India's costs and profit?
Total expenses increased ₹26.22 crore or 5.6% from Q2 FY26 to ₹497.80 crore, exceeding the rise in revenue. Cost of materials was ₹248.59 crore, up ₹41.94 crore or 20.3%, while other expenses were ₹125.68 crore, up ₹10.39 crore or 9.0%. Employee cost increased ₹1.89 crore or 5.2%, depreciation rose ₹1.68 crore or 10.1%, and finance costs rose ₹0.01 crore or 3.3%.
Other income increased ₹0.58 crore or 8.0% from ₹7.23 crore in Q2 FY26 to ₹7.81 crore, and tax expense fell ₹1.40 crore or 6.6% to ₹19.75 crore. There was no exceptional item in either quarter. Despite the higher other income and lower tax, EBITDA, PBT and net profit were lower because expenses increased, as the reported figures show.
Sequentially, total expenses rose ₹30.33 crore or 6.5% from Q1 FY27, while cost of materials fell ₹12.17 crore or 4.7%. Other expenses increased ₹12.38 crore or 10.9%, employee cost rose ₹2.23 crore or 6.2%, and depreciation increased ₹0.66 crore or 3.7%. Other income fell ₹2.19 crore or 21.9%, and tax expense declined ₹0.44 crore or 2.2%.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 248.59 | 206.65 | +41.94 | +20.3% |
| Employee cost | 37.96 | 36.07 | +1.89 | +5.2% |
| Finance costs | 0.31 | 0.30 | +0.01 | +3.3% |
| Depreciation | 18.31 | 16.63 | +1.68 | +10.1% |
| Other expenses | 125.68 | 115.29 | +10.39 | +9.0% |
| Total expenses | 497.80 | 471.58 | +26.22 | +5.6% |
| Other income | 7.81 | 7.23 | +0.58 | +8.0% |
| Tax | 19.75 | 21.15 | −1.40 | −6.6% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue was ₹1602.86 crore, up ₹49.30 crore or 3.2% from H1 FY26. Total income rose ₹50.82 crore or 3.2% to ₹1629.82 crore, while EBITDA for the quarter and half-year figures are presented separately in the filing.
H1 FY27 PBT was ₹230.66 crore, down ₹16.38 crore or 6.6% from ₹247.04 crore in H1 FY26. Net profit was ₹171.46 crore, down ₹12.39 crore or 6.7%, and basic EPS declined to ₹8.45 from ₹9.06, a fall of ₹0.61 or 6.7%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,603 | 1,554 | +3.2% |
| Profit before tax | 230.66 | 247.04 | −6.6% |
| Net profit | 171.46 | 183.85 | −6.7% |
| EPS (₹) | 8.45 | 9.06 | −6.7% |
Source: Company's results filing (XBRL).
How has Vesuvius India done over the last 8 quarters?
Revenue rose year-on-year in each of the last eight quarters. It reached its highest level in the available series at ₹566.84 crore in Q2 FY27, after ₹550.77 crore in Q3 FY26, and its lowest at ₹482.22 crore in Q4 FY25.
Net profit peaked at ₹80.23 crore in Q3 FY26 and bottomed at ₹55.85 crore in Q4 FY26. It fell from ₹58.51 crore in Q1 FY27 to ₹57.10 crore in Q2 FY27, while EBITDA margin declined from 16.2% to 15.5%.
What else did the company announce?
The board approved the standalone unaudited financial results for the third quarter and nine months ended 30 September 2026 on 2 November 2026. The statutory auditors issued an unmodified limited-review opinion, and the Audit Committee reviewed the results before board approval.
A same-day filing said Kinkini Das, HR Director, was appointed as Senior Managerial Personnel with effect from 2 November 2026. The company also disclosed that it had entered into a Business Transfer Agreement dated 13 August 2026 with Foseco India Limited for the sale of its Mehsana manufacturing facility, with completion expected by 31 December 2026.
How did Vesuvius India shares react?
The stock fell 1.0% within five minutes of the filing appearing after market hours and was down 0.4% after 15 minutes and 1.0% after 30 minutes. On the reaction day, it closed 2.1% below its pre-results close; by the next day's close, it was down 1.2% from that pre-results close.
The Electrodes & Refractories industry's other stocks recorded a median move of 0.4% on the reaction day and 2.9% by the next day's close. Vesuvius India therefore underperformed the industry median by 2.5 percentage points on the reaction day and by 4.0 percentage points by the next day's close. Earlier reaction-day moves were mixed, including falls of 2.9% on 12 August 2026 and 4.9% on 7 May 2026.
| After the filing | Stock | Electrodes & Refractories median |
|---|---|---|
| 5 minutes | −1.0% | |
| 15 minutes | −0.4% | |
| 30 minutes | −1.0% | |
| Reaction day | −2.1% | +0.4% |
| Next day | −1.2% | +2.9% |
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 |
|---|---|
| 12 August 2026 | −2.9% |
| 7 May 2026 | −4.9% |
| 26 February 2026 | −7.5% |
| 11 November 2025 | +3.5% |
| 13 August 2025 | −2.6% |
| 8 May 2025 | −1.3% |
| 26 February 2025 | +1.2% |
| 28 October 2024 | −5.2% |
Source: MarketPing price-reaction measurement.
How did other Electrodes & Refractories companies do?
Five other Electrodes & Refractories companies had filed for the quarter by 4 November 2026. Their median revenue growth was -2.2%; three grew more slowly than Vesuvius India and two grew faster than Vesuvius India.
Among the five peers, three reported higher profit. Vesuvius India’s own Q2 FY27 revenue growth was 3.6%.
| Vesuvius India revenue growth (YoY) | +3.6% |
|---|---|
| Median of 5 other Electrodes & Refractories companies | −2.2% |
| Companies with slower revenue growth than Vesuvius India | 3 of 5 |
| Companies with faster revenue growth than Vesuvius India | 2 of 5 |
| Companies whose net profit rose | 3 of 5 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Vesuvius India's revenue in Q2 FY27?
Revenue from operations was ₹566.84 crore, up 3.6% from ₹547.04 crore in Q2 FY26 (standalone).
Did Vesuvius India make a profit in Q2 FY27?
Yes. Net profit was ₹57.10 crore, against a net profit of ₹61.54 crore in Q2 FY26.
What was Vesuvius India's EPS in Q2 FY27?
Basic earnings per share were ₹2.82, against ₹3.03 in Q2 FY26.
How did Vesuvius India shares react to the Q2 FY27 results?
On the reaction day the stock moved −2.1% from the previous close; the median Electrodes & Refractories stock moved +0.4%.
When did Vesuvius India announce its Q2 FY27 results?
On 2 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for The Third Quarter And Nine Months Ended On September 30, 2026 (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting Held On November 02, 2026 (BSE, 2 November 2026) · PDF
- Third Quarter And Nine Months Ended On September 30, 2026 (BSE, 2 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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