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Walchandnagar Industries Q2 FY27 results: net profit ₹0.46 crore vs ₹11.90 crore loss, revenue up 80.6%
Walchandnagar Industries Limited reported standalone Q2 FY27 revenue of ₹93.53 crore, up 80.6% year on year, and a net profit of ₹0.46 crore against a net loss of ₹11.90 crore. EBITDA was ₹8.79 crore with a 9.4% margin, while profit and EPS were lower than in Q1 FY27.
Key points
- Standalone revenue was ₹93.53 crore in Q2 FY27, up 80.6% from ₹51.78 crore in Q2 FY26.
- EBITDA was ₹8.79 crore, compared with an EBITDA loss of ₹3.03 crore in Q2 FY26; the margin rose 15.3 percentage points to 9.4%.
- Net profit was ₹0.46 crore against a net loss of ₹11.90 crore in Q2 FY26, while basic EPS was ₹0.07.
- Sequentially, revenue rose 3.0% to ₹93.53 crore and EBITDA rose 19.8% to ₹8.79 crore, but net profit fell 61.0% to ₹0.46 crore.
- In H1 FY27, revenue was ₹184.36 crore and net profit was ₹1.64 crore, against a net loss of ₹22.29 crore in H1 FY26.
How did Walchandnagar Industries perform in Q2 FY27?
On a standalone basis, Walchandnagar Industries reported Q2 FY27 revenue of ₹93.53 crore, up ₹41.75 crore or 80.6% from ₹51.78 crore in Q2 FY26. Total income was ₹98.15 crore, compared with ₹55.42 crore, while EBITDA moved from an EBITDA loss of ₹3.03 crore to EBITDA of ₹8.79 crore. The EBITDA margin improved 15.3 percentage points to 9.4%.
The company reported a profit before tax and net profit of ₹0.46 crore, compared with a net loss of ₹11.90 crore in Q2 FY26. Basic EPS was ₹0.07, against a loss of ₹3.52 per share. Sequentially, revenue rose ₹2.70 crore or 3.0% from ₹90.83 crore and EBITDA rose ₹1.45 crore or 19.8% from ₹7.34 crore, but net profit fell ₹0.72 crore or 61.0% from ₹1.18 crore and EPS fell from ₹0.17 to ₹0.07.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 93.53 | 90.83 | 51.78 | +80.6% | +3.0% |
| Other income | 4.62 | 6.97 | 3.64 | +26.9% | −33.7% |
| Total expenses | 97.69 | 96.62 | 67.32 | +45.1% | +1.1% |
| EBITDA | 8.79 | 7.34 | −3.03 | turned to profit | +19.8% |
| EBITDA margin | 9.4% | 8.1% | -5.9% | +15.3 pp | +1.3 pp |
| Profit before tax | 0.46 | 1.18 | −11.90 | turned to profit | −61.0% |
| Tax | 0 | 0 | 0 | ||
| Net profit | 0.46 | 1.18 | −11.90 | turned to profit | −61.0% |
| EPS (₹) | 0.07 | 0.17 | −3.52 | turned to profit | −58.8% |
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 Walchandnagar Industries' costs and profit?
Total expenses rose ₹30.37 crore or 45.1% year on year to ₹97.69 crore. Cost of materials increased ₹36.49 crore or 194.1% to ₹55.29 crore, other expenses rose ₹5.63 crore or 47.8% to ₹17.40 crore, and employee cost rose ₹3.25 crore or 16.8% to ₹22.54 crore. Depreciation increased ₹0.41 crore or 14.9% to ₹3.17 crore, while finance costs were broadly unchanged at ₹9.78 crore, up ₹0.03 crore or 0.3%.
Other income increased ₹0.98 crore or 26.9% to ₹4.62 crore, while there was no exceptional item. Tax was unchanged and the net profit margin improved from -23.0% to 0.5%. Sequentially, other expenses rose ₹4.94 crore or 39.6% and other income fell ₹2.35 crore or 33.7%; finance costs declined ₹0.23 crore or 2.3%. The filing did not state reasons for the cost changes.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 55.29 | 18.80 | +36.49 | +194.1% |
| Employee cost | 22.54 | 19.29 | +3.25 | +16.8% |
| Finance costs | 9.78 | 9.75 | +0.03 | +0.3% |
| Depreciation | 3.17 | 2.76 | +0.41 | +14.9% |
| Other expenses | 17.40 | 11.77 | +5.63 | +47.8% |
| Total expenses | 97.69 | 67.32 | +30.37 | +45.1% |
| Other income | 4.62 | 3.64 | +0.98 | +26.9% |
| Tax | 0 | 0 | 0 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, standalone revenue was ₹184.36 crore, up ₹83.14 crore or 82.1% from ₹101.22 crore in H1 FY26. Total income rose ₹86.92 crore or 79.7% to ₹195.95 crore, while profit before tax moved from a loss of ₹22.29 crore to a profit of ₹1.64 crore.
Net profit in the first half was ₹1.64 crore, compared with a net loss of ₹22.29 crore in H1 FY26. EPS was ₹0.24 against a loss of ₹6.58 per share. The results were reviewed by the statutory auditors, reviewed by the Audit Committee and approved by the Board.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 184.36 | 101.22 | +82.1% |
| Profit before tax | 1.64 | −22.29 | turned to profit |
| Net profit | 1.64 | −22.29 | turned to profit |
| EPS (₹) | 0.24 | −6.58 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹919.90 crore, compared with ₹881.42 crore at 31 March 2026, while total equity was ₹362.38 crore against ₹358.79 crore. Borrowings increased to ₹245.84 crore from ₹218.90 crore, and cash and cash equivalents fell to ₹8.59 crore from ₹20.09 crore. Inventories were ₹133.58 crore, trade receivables ₹84.13 crore and trade payables ₹69.11 crore.
H1 FY27 operating cash flow was negative ₹5.92 crore, compared with ₹12.15 crore in H1 FY26. Investing cash flow was negative ₹12.74 crore against negative ₹8.47 crore, financing cash flow was ₹7.15 crore against negative ₹14.46 crore, and capital expenditure was ₹10.20 crore compared with ₹5.14 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 919.90 | 881.42 |
| Total equity | 362.38 | 358.79 |
| Borrowings | 245.84 | 218.90 |
| Cash and equivalents | 8.59 | 20.09 |
| Inventories | 133.58 | 137.72 |
| Trade receivables | 84.13 | 86.21 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | −5.92 | 12.15 |
| Cash from investing | −12.74 | −8.47 |
| Cash from financing | 7.15 | −14.46 |
| Capital expenditure | 10.20 | 5.14 |
Source: Company's results filing (XBRL).
How has Walchandnagar Industries done over the last 8 quarters?
Walchandnagar Industries’ revenue has risen year on year in each of the last four quarters. Across the reported series, revenue was lowest at ₹49.43 crore in Q1 FY26 and reached its peak of ₹93.53 crore in Q2 FY27, after ₹93.02 crore in Q4 FY26. Q2 FY27 revenue was 3.0% above Q1 FY27, indicating continued sequential growth.
Profit turned positive in Q3 FY26 and has remained positive since. EBITDA margin peaked at 18.9% in Q3 FY26 and bottomed at -88.7% in Q4 FY25. The margin was 9.4% in Q2 FY27, up from 8.1% in Q1 FY27, while net profit was ₹0.46 crore compared with ₹1.18 crore in the previous quarter.
Which businesses drove the quarter?
Heavy Engineering reported Q2 FY27 revenue of ₹70.59 crore, up 53.9% from ₹45.88 crore in Q2 FY26. Segment EBIT was ₹8.03 crore, compared with a loss of ₹1.67 crore in the year-ago quarter; the reported EBIT margin was 11.4%.
Foundry and Machine Shop reported revenue of ₹16.84 crore, up 11928.6% from ₹0.14 crore, and EBIT of ₹1.50 crore against a loss of ₹0.60 crore. Its reported EBIT margin was 8.9%. Others reported revenue of ₹6.51 crore, up 12.8% from ₹5.77 crore, and EBIT of ₹1.47 crore against ₹1.10 crore, with an EBIT margin of 22.6%.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Heavy Engineering | 70.59 | +53.9% | 8.03 | 11.4% |
| Foundry and Machine Shop | 16.84 | +11928.6% | 1.50 | 8.9% |
| Others | 6.51 | +12.8% | 1.47 | 22.6% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The Board approved the un-audited, reviewed financial results for the quarter and half year ended 30 September 2026 on 2 November 2026. It also approved the appointment of Chandra Bhan Yadav as Interim Chief Financial Officer and Key Managerial Personnel with effect from 2 November 2026, until a regular CFO is appointed.
The Board amended the Code of Practices and Procedures for fair disclosure of unpublished price-sensitive information. The same-day filings did not announce a dividend, fund raise or any other appointment. The press release said Walchandnagar Industries had secured orders aggregating ₹99.46 crore during Q2 FY27, including ₹38.13 crore from its Aerospace business, and said the Nuclear business had reached the tender-release stage for End Shield.
How did Walchandnagar Industries shares react?
The results appeared after market hours. Walchandnagar Industries was up 0.7% five minutes after the filing and 15 minutes after it, then down 0.6% after 30 minutes. The stock closed 3.9% below its pre-results close on the reaction day and was down 1.5% from that close by the next day’s close.
The Industrial Products industry median was up 0.1% on the reaction day and up 1.6% by the next day’s close. Walchandnagar Industries therefore underperformed the industry by 4.0 percentage points on the reaction day and 3.2 percentage points by the next day’s close. Earlier reaction-day moves included gains of 1.2% on 11 August 2026 and 1.4% on 20 May 2026.
| After the filing | Stock | Industrial Products median |
|---|---|---|
| 5 minutes | +0.7% | |
| 15 minutes | +0.7% | |
| 30 minutes | −0.6% | |
| Reaction day | −3.9% | +0.1% |
| Next day | −1.5% | +1.6% |
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 |
|---|---|
| 11 August 2026 | +1.2% |
| 20 May 2026 | +1.4% |
| 29 January 2026 | +9.8% |
| 13 November 2025 | −3.4% |
| 21 July 2025 | −0.8% |
| 22 May 2025 | −3.2% |
| 6 February 2025 | −5.0% |
| 14 November 2024 | −10.2% |
Source: MarketPing price-reaction measurement.
How did other Industrial Products companies do?
Thirty-eight Industrial Products companies were compared for the quarter. Their median revenue growth was 31.6%, while 33 peers grew more slowly than Walchandnagar Industries and 5 grew faster. Of the 32 peers for which profit was compared, 23 reported higher profit. The peer figures were available as of 5 November 2026.
| Walchandnagar Industries revenue growth (YoY) | +80.6% |
|---|---|
| Median of 38 other Industrial Products companies | +31.6% |
| Companies with slower revenue growth than Walchandnagar Industries | 33 of 38 |
| Companies with faster revenue growth than Walchandnagar Industries | 5 of 38 |
| Companies whose net profit rose | 23 of 32 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Walchandnagar Industries' revenue in Q2 FY27?
Revenue from operations was ₹93.53 crore, up 80.6% from ₹51.78 crore in Q2 FY26 (standalone).
Did Walchandnagar Industries make a profit in Q2 FY27?
Yes. Net profit was ₹0.46 crore, against a net loss of ₹11.90 crore in Q2 FY26.
What was Walchandnagar Industries' EPS in Q2 FY27?
Basic earnings per share were ₹0.07, against a loss of ₹3.52 in Q2 FY26.
How did Walchandnagar Industries shares react to the Q2 FY27 results?
On the reaction day the stock moved −3.9% from the previous close; the median Industrial Products stock moved +0.1%.
When did Walchandnagar Industries announce its Q2 FY27 results?
On 2 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Board Meeting Scheduled To Be Held On November 02, 2026 (BSE, 23 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On November 2, 2026 (BSE, 2 November 2026) · PDF
- Un-Audited (Reviewed) Financial Results For The Quarter And Half Year Ended On September 30, 2026, Along With Limited Review Report As On The Date Issued By Statutory Auditors Of The Company. (BSE, 2 November 2026) · PDF
- Announcement under Regulation 30 (LODR)-Press Release / Media Release (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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