Automobile Corp of Goa Q2 FY27: net profit down 9.8% to ₹13 crore
Earnings
Automobile & Ancillaries
Blacklitt Research4 min read
Automobile Corporation of Goa (NSE: ACGL) reported standalone net profit of ₹13.20 crore for the quarter ended 30 Sep 2026, down 9.8% from ₹14.64 crore a year earlier, on total income of ₹270.94 crore, up 28.8%.
Key highlights
Standalone
The company on its own, without its subsidiaries
Total income: ₹270.94 crore, up 28.8% from ₹210.43 crore a year earlier.
Net profit: ₹13.20 crore, down 9.8% from ₹14.64 crore; up 17.7% on the June quarter.
EPS: ₹21.68 against ₹24.03 a year earlier.
Bus bodies delivered: 2,336, against 1,966 a year earlier, per the company's results statement.
Summary
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
270.94
210.43
+28.8%
252.71
+7.2%
Revenue from operations
265.59
206.38
+28.7%
248.94
+6.7%
Other income
5.34
4.04
+32.1%
3.77
+41.8%
13.20
14.64
-9.8%
11.22
+17.7%
Finance costs
0.03
0.03
-10.1%
0.03
+11.4%
Depreciation
1.89
1.39
+36.1%
1.70
+11.3%
Tax expense
4.54
5.03
-9.8%
3.97
+14.2%
Net profit margin
4.87%
6.96%
-2.08 pp
4.44%
+0.43 pp
Tax as share of profit before tax
25.58%
25.57%
+0.01 pp
26.16%
-0.57 pp
EPS (₹)
21.68
24.03
-9.8%
18.42
+17.7%
Figures are in ₹ crore except EPS; YoY compares with Q2 FY26 and QoQ with Q1 FY27.
Expenses grew faster than income. Total expenses rose 32.7% to ₹253.20 crore, led by materials consumed, which rose 30.6% to ₹198.32 crore, and other expenses, up 24.0% to ₹42.74 crore. Profit before tax fell 9.8% to ₹17.74 crore. The tax share was 25.58% of pre-tax profit, against 25.57% a year earlier.
The bus body segment reported profit before tax and interest of ₹14.73 crore, against ₹16.71 crore a year earlier. The pressing segment reported ₹0.59 crore, against ₹0.85 crore. Tata Motors contributed ₹250.80 crore, or 94.4% of revenue from operations, and the filing says it is the only party above 10% of revenue. The company said its international bus-body business remained challenged by the Middle East situation, and that domestic business was stable.
Trade receivables rose to ₹107.24 crore at 30 Sep 2026 from ₹62.73 crore at 31 Mar 2026, and inventories to ₹71.91 crore from ₹68.07 crore. Cash and cash equivalents were ₹42.27 crore, against ₹121.35 crore at the March year-end, and other bank balances were ₹130.08 crore, against ₹91.96 crore. Borrowings rose to ₹14.02 crore from ₹8.80 crore.
Operations used ₹20.74 crore of cash in the half year, after ₹11.91 crore of income tax paid, against ₹20.93 crore generated a year earlier. Capital spending on property, plant and equipment was ₹18.11 crore. The company placed ₹59.87 crore in deposits, matured ₹21.82 crore, paid ₹13.64 crore of dividends, and cash and cash equivalents fell ₹79.08 crore over the half year.
The quarter and the half year show no exceptional items. The year to 31 Mar 2026 carried ₹3.29 crore of exceptional cost from the new Labour Codes. BSR & Co. LLP audited the results and gave an unmodified opinion. The filing does not mention a change of auditor.
The company paid a final dividend of ₹22.50 a share for FY26, approved at the annual general meeting on 22 Jul 2026, with a cash outflow of ₹13.70 crore paid on 20 Aug 2026. The board has also approved a buyback of up to 1,44,639 shares, about 2.38% of paid-up capital, at ₹2,005 a share, for up to ₹29.00 crore, by tender offer. The record date is 28 Oct 2026, and promoters have said they will not take part. The board also appointed Ms Swati Shivanand Salgaocar as chairman from 7 Dec 2026, when Mr Yatin Kakodkar ceases to be an independent director and chairman.
What the results mean for shareholders
Standalone EPS was ₹21.68 for the quarter, against ₹24.03 a year earlier. The buyback price of ₹2,005 compares with a closing price of ₹1,679.70 on 21 Oct 2026. Under the tender-offer route, eligible shareholders take part in proportion to their holdings, and the filing does not yet know how many shares will be tendered.
The filing gives no reason for the rise in materials and other costs. The company's comments on the Middle East refer to international bus-body volumes, not costs, and the filing gives no outlook. The next dated steps are the buyback record date of 28 Oct 2026 and the chairman change on 7 Dec 2026.
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ACGLAutomobile Corporation of Goa Ltd.
