Apcotex Industries Q2 FY27 Results: Standalone Net Profit ₹34.84 Crore on Total Income of ₹503 Crore

Earnings
Synthetic emulsion polymers

Blacklitt Research28 October 20262 min read

A chemical plant at night with lit pipework, towers and steam plumes rising into the dark blue sky — Rjendrzejewski, via Wikimedia Commons (CC0). Illustrative image.

Apcotex Industries reported standalone total income of ₹503.44 crore and net profit of ₹34.84 crore for the quarter ended 30 Sep 2026, it said in a filing on 28 Oct 2026. The company has no subsidiary, associate or joint venture, so the results are standalone only.

Key highlights

Standalone

The company on its own, without its subsidiaries

Total income: ₹503.44 crore, up 47.5% YoY and down 4.7% QoQ
Net profit and EPS: ₹34.84 crore, up 37.7% YoY; basic EPS ₹6.72, not annualised
Finance costs: ₹2.55 crore, down 13.8% YoY and up 18.8% QoQ
Dividends paid, half year: ₹28.11 crore, per the cash flow statement

Summary

Standalone ₹ crore
Particulars	Q2 FY27	Q2 FY26	YoY	Q1 FY27	QoQ
	503.44	341.30	+47.5%	528.44	-4.7%
Revenue from operations	498.92	336.69	+48.2%	525.63	-5.1%
Other income	4.52	4.60	-1.9%	2.81	+61.0%
	34.84	25.30	+37.7%	78.94	-55.9%
Profit before tax	47.50	35.98	+32.0%	104.65	-54.6%
Finance costs	2.55	2.96	-13.8%	2.15	+18.8%
Depreciation	12.80	12.02	+6.5%	13.11	-2.4%
Tax expense	12.67	10.68	+18.6%	25.71	-50.7%
Net profit margin	6.92%	7.41%	-0.49 pp	14.94%	-8.02 pp
EPS, basic (₹)	6.72	4.88	+37.7%	15.23	-55.9%

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone total income rose 47.5% to ₹503.44 crore against the year-ago quarter, while net profit rose 37.7% to ₹34.84 crore. Profit grew more slowly than income, and the net profit margin slipped to 6.92% from 7.41%. Revenue from operations rose 48.2% to ₹498.92 crore, while other income fell 1.9% to ₹4.52 crore.

Tax was a smaller share of profit before tax than a year earlier: ₹12.67 crore is 26.7% of ₹47.50 crore, against 29.7% in the year-ago quarter. Finance costs of ₹2.55 crore are 0.5% of total income, lower than the ₹2.96 crore of the year-ago quarter.

The year-ago profit before tax of ₹35.98 crore is after an exceptional gain: the notes list a profit of ₹5.75 crore on sale of office premise in the quarter ended 30 Sep 2025. The notes list no exceptional item for the current quarter, so the 32.0% rise in profit before tax compares a quarter without one against a quarter with one.

For the half year ended 30 Sep 2026, total income was ₹1,031.88 crore and net profit ₹113.78 crore, a margin of 11.0%. The statement carries an unmodified audit opinion from Manubhai & Shah LLP, and the Board approved the results on 28 Oct 2026.

Inference

The filing reports dividends paid of ₹28.11 crore in the half year ended 30 Sep 2026 in its cash flow statement. What is not stated: the reason for the rise in revenue, the cause of the fall in net profit from ₹78.94 crore in the June quarter, and whether a dividend will be declared for the current quarter.

Consolidated results are not prepared because the company has no subsidiary, associate or joint venture as on 30 Sep 2026, and it reports one business segment, synthetic emulsion polymers.

Reference: Original filing (PDF)

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