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Chief Business Officer: Hexawealth
Research notes and investing articles written by Abhinav Swaroop, CFA.
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Sangam India: Profit More Than Doubles
Sangam (India) reported a 33% jump in revenue to ₹1,045 crore for Q2 FY27. Net profit more than doubled to ₹53 crore, with the margin expanding by 220 basis points year-on-year on improved operational efficiency.
Aimtron: Orders Surge, Margins Dip
Aimtron Electronics reported robust Q2 FY27 growth, with revenue up 83% and profit up 71% year-on-year. The surge was driven by a record order book from its US subsidiary and a strategic shift towards higher-value 'box-build' manufacturing.
Rustomjee: Record Pre-Sales, Profit Jumps 10-Fold
Rustomjee's Q2 FY27 profit soared 921% year-on-year to ₹101 crore, even as revenue held steady. The jump was powered by a ₹73 crore profit share from joint ventures and a sharp expansion in operating margins.
MapmyIndia: Profit Soars, Revenue Dips
MapmyIndia's Q2 FY27 profit surged 89% year-on-year to ₹35 crore, driven by strong automotive and enterprise growth. However, revenue declined 5.5% sequentially, reflecting a tough comparison in the government business.
Marine Electricals: Profit Doubles on Data Center Boom
Marine Electricals reported an 82% jump in Q2 FY27 revenue to ₹405 crore, with profit soaring 93% to ₹32 crore. The surge was powered by accelerated execution of a massive order backlog, now over ₹2,000 crore, largely from India's booming data center sector.
IMFA: Profit Slips as Costs Rise
IMFA's Q2 FY27 revenue grew 35% year-on-year to ₹968 crore, but profit fell 23% from the previous quarter. The drop highlights cost pressures from new capacity and rising input prices, even as production hit a record high.
Jyothy Labs: Revenue Up, Profit Crashes
Jyothy Labs' Q2 FY27 earnings reveal a stark divergence: revenue grew 3.3% to ₹760 crore, but net profit collapsed 87.5% to ₹11 crore. Unprecedented inflation in crude-linked raw materials and packaging drove the sharpest margin contraction in recent history.
GR Infra: Strong YoY, Soft QoQ
GR Infraprojects reported a 53% yearly jump in net profit for Q2 FY27, though revenue and earnings declined sequentially. The company's order book stands at a robust ₹24,577 crore, but working capital days have risen significantly.
Indo Count: Profit Triples on US Push
Indo Count Industries posted its highest-ever quarterly revenue and profit in Q2 FY27. A strategic push into US utility bedding and branded products drove a 57% sales surge, while operating leverage tripled net profit year-on-year.
BASF India: Revenue Up, Profit Plunges
BASF India's September quarter revenue grew 24% year-on-year to ₹4,832 crore. However, net profit plunged 42% to ₹62 crore as total expenses rose faster than income, highlighting significant margin pressure.
Alembic Pharma: Profit Jumps 82% on US Surge
Alembic Pharma's Q2 FY27 profit surged 81.8% to ₹334 crore, powered by a 36.3% revenue rise. The US formulations business grew 77%, leading a broad-based recovery and a significant margin expansion.
KIMS: Revenue Jumps 40%, Profit Crawls
Krishna Institute of Medical Sciences saw revenue surge 40% year-on-year to ₹1,344 crore in Q2 FY27. However, net profit grew a mere 3.6% as rapid expansion drove up depreciation and interest costs, compressing margins.
Biocon: Profit Plunge, Revenue Grinds
Biocon's net profit fell 57% year-on-year to ₹57 crore in the September quarter, even as revenue grew 2%. The drop was driven by a $20 million shipment deferral, higher depreciation, and lower other income, though management expects a stronger second half.
Lenskart: Profit Doubles on Scale
Lenskart Solutions reported a 124% jump in Q2 FY27 net profit to ₹232 crore. Revenue grew 36% to ₹2,845 crore, with margins expanding as operating expenses grew slower than sales.
Avishkar Infra: Zero Revenue, Losses Narrow
Avishkar Infra Realty reported zero revenue for the September 2026 quarter, marking a full year without operational income. Its net loss narrowed to ₹0.26 crore, aided by a sharp fall in total expenses.
Rajeswari Infra: Loss Widens on Zero Revenue
Rajeswari Infrastructure's Q2 FY27 results show a deepening net loss of ₹0.86 crore on zero revenue. The figures reflect ongoing corporate insolvency proceedings, with a spike in expenses following the new board's assumption of control.
Zodiac-JRD-MKJ: Profit Doubles on a One-Off
Zodiac-JRD-MKJ's Q2 FY27 profit nearly doubled year-on-year to ₹1.04 crore. The jump was powered by a sharp rise in other income, while consolidated revenue growth stalled at 0.4% amid a weak industry environment.
Yunik: No Revenue, Wider Loss
Yunik Managing Advisors reported a net loss of ₹0.05 crore for Q2 FY27 with zero revenue from operations or other sources. The loss widened sequentially despite lower expenses, highlighting the company's dormant operational state.
We Win: Revenue Up 19%, Profit Vanishes
We Win's Q2 FY27 results show a stark disconnect: revenue rose 19% year-on-year, but net profit plunged 99% to just ₹0.01 crore. The collapse was driven by a 24% surge in employee costs and a sharp increase in short-term borrowings.
Vistar Amar: Revenue Plunge, Profit Slumps
Vistar Amar's Q2 FY27 saw a sharp sequential decline, with revenue dropping 57% and profit falling 80%. While year-on-year comparisons show a recovery from a loss, the quarter underscores the business's exposure to volatile raw material supply and pricing.