Quarterly Performance (Consolidated)

For Q2FY27, the company reported consolidated sales of INR 854 crore, representing a 25.4% year-on-year growth compared to INR 681 crore in Q2FY26. EBITDA showed significant improvement, reaching INR 100 crore compared to INR 54 crore in the same quarter previous year, an increase of 86.4%. EBITDA margin expanded to 11.7% from 7.9% in Q2FY26.

Profit Before Tax (PBT) surged to INR 62 crore from INR 19 crore in Q2FY26, representing 236.3% growth. The company reported an exceptional item loss of INR 2 crore. After accounting for this, PBT stood at INR 60 crore compared to INR 19 crore in Q2FY26, showing 223.5% growth.

Tax expenses were INR 19 crore compared to INR 6 crore in Q2FY26. Profit After Tax was INR 42 crore, a significant increase from INR 12 crore in Q2FY26 (237.6% growth). Profit After Tax attributable to controlling interest was INR 42 crore compared to INR 15 crore in Q2FY26, representing 176.9% growth. EPS stood at INR 10.12 compared to INR 3.65 in Q2FY26.

Half-Yearly Performance (Consolidated)

For H1FY27, consolidated sales were INR 1,598 crore compared to INR 1,282 crore in H1FY26, showing 24.6% growth. EBITDA was INR 186 crore compared to INR 102 crore in H1FY26 (82.8% growth), with EBITDA margin at 11.6% versus 7.9%.

PBT was INR 112 crore compared to INR 30 crore in H1FY26 (274.6% growth). After exceptional item loss of INR 2 crore, PBT was INR 110 crore compared to INR 30 crore in H1FY26 (266.7% growth). Tax expenses were INR 34 crore compared to INR 10 crore in H1FY26. PAT was INR 76 crore compared to INR 20 crore in H1FY26 (285.5% growth). PAT attributable to controlling interest was INR 77 crore compared to INR 25 crore in H1FY26 (203.8% growth). EPS was INR 18.78 compared to INR 6.18 in H1FY26.

Standalone Performance

For Q2FY27, standalone sales were INR 778 crore compared to INR 656 crore in Q2FY26 (18.7% growth). Standalone EBITDA was INR 74 crore compared to INR 41 crore in Q2FY26 (78.7% growth), with EBITDA margin at 9.4% versus 6.3%. PBT was INR 60 crore compared to INR 31 crore in Q2FY26 (94.5% growth). After exceptional item loss of INR 2 crore, PBT was INR 57 crore. Tax expenses were INR 15 crore. PAT was INR 42 crore compared to INR 23 crore in Q2FY26 (85.2% growth). EPS was INR 10.17 compared to INR 5.49 in Q2FY26.

For H1FY27, standalone sales were INR 1,466 crore compared to INR 1,235 crore in H1FY26 (18.7% growth). Standalone EBITDA was INR 134 crore compared to INR 76 crore in H1FY26 (75.9% growth), with EBITDA margin at 9.1% versus 6.2%. PBT was INR 107 crore compared to INR 53 crore in H1FY26 (100.7% growth). After exceptional item loss of INR 2 crore, PBT was INR 104 crore. Tax expenses were INR 28 crore. PAT was INR 77 crore compared to INR 39 crore in H1FY26 (95.5% growth). EPS was INR 18.73 compared to INR 9.58 in H1FY26.

Balance Sheet Position (as of H1FY27)

Standalone: Total assets stood at INR 1,626 crore (FY26: INR 1,646 crore). Property, Plant & Equipment (including CWIP) was INR 526 crore (FY26: INR 536 crore). Loans & Investments were INR 442 crore (FY26: INR 434 crore). Current assets were INR 639 crore (FY26: INR 658 crore). Net worth was INR 944 crore (FY26: INR 891 crore). Total debt was INR 15 crore (FY26: INR 14 crore). Current liabilities were INR 479 crore (FY26: INR 549 crore).

Consolidated: Total assets stood at INR 2,059 crore (FY26: INR 2,012 crore). Property, Plant & Equipment (including CWIP) was INR 1,130 crore (FY26: INR 1,110 crore). Current assets were INR 875 crore (FY26: INR 855 crore). Net worth was INR 896 crore (FY26: INR 842 crore) with non-controlling interest of INR 76 crore (FY26: INR 78 crore). Total debt was INR 277 crore (FY26: INR 251 crore), which includes INR 25 crore debt taken for solar/other energy related investments. Current liabilities were INR 600 crore (FY26: INR 641 crore).

Historical Financial Performance

The document provides historical financial data for FY22 to FY26:

  • Sales: FY26 - INR 2,771 crore, FY25 - INR 2,643 crore, FY24 - INR 2,577 crore, FY23 - INR 2,465 crore, FY22 - INR 2,083 crore
  • EBITDA margin: FY26 - 9.3%, FY25 - 8.4%, FY24 - 9.8%, FY23 - 7.7%, FY22 - 9.9%
  • PAT (controlling interest): FY26 - INR 81 crore, FY25 - INR 60 crore, FY24 - INR 97 crore, FY23 - INR 71 crore, FY22 - INR 89 crore
  • EPS: FY26 - INR 19.80, FY25 - INR 14.65, FY24 - INR 23.01, FY23 - INR 16.83, FY22 - INR 20.88

Operational Highlights

The company reported healthy domestic demand across both retail and project segments, driven by steady housing activity and renovation demand. Exports remained under pressure due to high fuel and freight costs and trade-related disruptions affecting global competitiveness.

The company highlighted that the industry is entering a phase where market leadership, brand equity, and operational execution will be key growth drivers. They expressed confidence in strengthening their competitive position backed by a strong balance sheet, growing market presence, and disciplined capital allocation approach.

Shareholding Pattern

As of 30th September 2026, the shareholding pattern showed:

  • Promoters: 55.2% (unchanged from 30th June 2026)
  • FII: 2.9% (increased from 1.4%)
  • DII: 16.0% (decreased from 19.4%)
  • Others: 25.9% (increased from 24.0%)

The total number of equity shares outstanding is 4,10,12,806 shares of ₹2 each.

Manufacturing Facilities

The company maintains pan-India manufacturing facilities as of 30th September 2026.