Revenue from operations: ₹269.76 crore (vs ₹183.14 crore in Q2 FY26) - 47% increase
Total Income: ₹273.26 crore (vs ₹192.80 crore in Q2 FY26)
Profit before tax: ₹32.43 crore (vs ₹21.09 crore in Q2 FY26)
Net Profit: ₹24.13 crore (vs ₹16.28 crore in Q2 FY26) - 48% increase
Basic and diluted EPS: ₹10.45 (vs ₹7.05 in Q2 FY26)
Half-Yearly Performance (H1 FY27 vs H1 FY26):
Revenue from operations: ₹492.15 crore (vs ₹393.86 crore in H1 FY26)
Total Income: ₹502.98 crore (vs ₹407.48 crore in H1 FY26)
Profit before tax: ₹59.87 crore (vs ₹44.06 crore in H1 FY26)
Net Profit: ₹44.49 crore (vs ₹33.35 crore in H1 FY26)
Basic and diluted EPS: ₹19.28 (vs ₹14.45 in H1 FY26)
Expense Analysis (Q2 FY27):
Cost of materials consumed: ₹159.91 crore
Purchases of stock-in-trade: ₹25.85 crore
Employee benefits expenses: ₹17.53 crore
Finance costs: ₹0.64 crore
Depreciation and amortization: ₹4.91 crore
Other expenses: ₹53.46 crore
Balance Sheet Position (as at September 30, 2026):
Total Assets: ₹953.62 crore (vs ₹804.83 crore as at March 31, 2026)
Inventories: ₹255.22 crore (significant increase from ₹156.15 crore)
Trade receivables: ₹244.95 crore (increase from ₹179.39 crore)
Cash and cash equivalents: ₹43.52 crore (decrease from ₹133.36 crore)
Investments: ₹123.22 crore (new position)
Equity share capital: ₹23.08 crore (unchanged)
Other equity: ₹590.96 crore (increase from ₹547.00 crore)
Cash Flow Statement (H1 FY27):
Net cash used in operating activities: ₹(24.11) crore
Net cash used in investing activities: ₹(63.38) crore
Net cash used in financing activities: ₹(2.36) crore
Net decrease in cash and cash equivalents: ₹(89.84) crore
Significant Notes to Financial Results:
Exceptional Items:
Q2 FY25 included exceptional item of ₹(0.50) crore related to fire incident at Roha plant warehouse
FY26 included exceptional item of ₹(4.99) crore comprising gratuity (₹3.81 crore) and compensated absences (₹0.68 crore) from implementation of New Labour Codes
Tax Adjustments:
Tax adjustments of prior years: ₹(0.53) crore recognized in Q2 FY25 and ₹(1.79) crore in FY26 based on review of long-outstanding tax balances
Corporate Developments:
Mr. Mandar Velankar (DIN 11069055), Non-Executive and Non-Independent Director resigned effective September 1, 2026
On October 1, 2026, Sudarshan Chemical Industries Limited (Promoter) acquired 36,68,036 equity shares (15.89% of equity) from Sudarshan Europe B.V. (Promoter) for ₹150.76 crore (₹411 per share)
This was an internal restructuring within the promoter group with no change in aggregate promoter holding (70.26%)
Other Information:
Company operates under single business segment "Pigments"
No subsidiaries, associates or joint ventures as of September 30, 2026
Financial results reviewed by M S K A & Associates LLP, Chartered Accountants with unmodified conclusion
Board meeting held on October 28, 2026 from 12:00 p.m. to 2:15 p.m. IST
