Azad Engineering Q2 FY27 Results: Consolidated Net Profit ₹30.93 Crore on Total Income of ₹195 Crore
- Earnings
- engineering components
Reviewed byKeshav SehgalBlacklitt Research
Azad Engineering (NSE: AZAD) reported consolidated total income of ₹195.11 crore and net profit of ₹30.93 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹192.46 crore and standalone net profit ₹30.82 crore. The results were approved by the board on 6 Nov 2026 and the company said so in a filing on 06 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹195.11 crore, up 23.6% YoY and 10.8% QoQ
- Net profit and EPS: ₹30.93 crore, down 5.2% YoY; basic EPS ₹4.79
- Finance costs: ₹12.44 crore, up 85.5% YoY from ₹6.71 crore
Standalone
The company on its own, without its subsidiaries
- Total income: ₹192.46 crore, up 23.9% YoY and 10.3% QoQ
- Net profit and EPS: ₹30.82 crore, down 6.6% YoY; basic EPS ₹4.77
- Depreciation: ₹21.79 crore, up 100.1% YoY from ₹10.89 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 195.11 | 157.87 | +23.6% | 176.15 | +10.8% | |
| Revenue from operations | 190.94 | 145.63 | +31.1% | 172.60 | +10.6% |
| Other income | 4.17 | 12.25 | -65.9% | 3.55 | +17.5% |
| 30.93 | 32.61 | -5.2% | 35.16 | -12.0% | |
| Profit before tax | 41.49 | 46.43 | -10.6% | 38.97 | +6.5% |
| Finance costs | 12.44 | 6.71 | +85.5% | 10.32 | +20.5% |
| Depreciation | 22.51 | 11.66 | +93.1% | 18.62 | +20.9% |
| Tax expense | 10.57 | 13.82 | -23.5% | 3.80 | +177.7% |
| Net profit margin | 15.85% | 20.66% | -4.80 pp | 19.96% | -4.11 pp |
| EPS, basic (₹) | 4.79 | 5.05 | -5.1% | 5.53 | -13.4% |
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.
Total income grew faster than net profit. Consolidated total income rose 23.6% YoY to ₹195.11 crore, while net profit fell 5.2% to ₹30.93 crore. Revenue from operations rose 31.1% to ₹190.94 crore, and other income fell from ₹12.25 crore to ₹4.17 crore, so other income was 2.1% of total income this quarter against 7.8% a year earlier.
Costs below operating income rose sharply. Finance costs of ₹12.44 crore were 6.4% of total income, up from ₹6.71 crore a year earlier, and depreciation rose 93.1% to ₹22.51 crore. Profit before tax fell 10.6% to ₹41.49 crore. The filing does not give the reasons for the rise in finance costs and depreciation.
Tax expense fell 23.5% to ₹10.57 crore, which is 25.5% of profit before tax, against ₹13.82 crore a year earlier. Quarter on quarter, tax rose from ₹3.80 crore, and net profit fell 12.0% from ₹35.16 crore. Attributable to owners of the company, consolidated profit was ₹30.88 crore.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 192.46 | 155.39 | +23.9% | 174.54 | +10.3% | |
| Revenue from operations | 187.80 | 142.67 | +31.6% | 170.52 | +10.1% |
| Other income | 4.66 | 12.72 | -63.4% | 4.02 | +15.8% |
| 30.82 | 32.99 | -6.6% | 36.35 | -15.2% | |
| Profit before tax | 41.08 | 46.81 | -12.2% | 40.09 | +2.5% |
| Finance costs | 12.23 | 6.40 | +91.0% | 10.09 | +21.2% |
| Depreciation | 21.79 | 10.89 | +100.1% | 17.91 | +21.6% |
| Tax expense | 10.26 | 13.82 | -25.7% | 3.74 | +174.8% |
| Net profit margin | 16.01% | 21.23% | -5.22 pp | 20.83% | -4.81 pp |
| EPS, basic (₹) | 4.77 | 5.11 | -6.7% | 5.63 | -15.3% |
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 results follow the same pattern. Total income rose 23.9% YoY to ₹192.46 crore and revenue from operations rose 31.6% to ₹187.80 crore, while other income fell 63.4% to ₹4.66 crore. Standalone net profit fell 6.6% to ₹30.82 crore, a steeper fall than consolidated net profit of 5.2%.
Standalone profit before tax fell 12.2% to ₹41.08 crore. Other income was 2.4% of total income, and finance costs of ₹12.23 crore were 6.4% of total income. Standalone tax expense was ₹10.26 crore, 25.0% of profit before tax, against ₹13.82 crore a year earlier.
Consolidated net profit is ₹0.11 crore higher than standalone for the quarter. The consolidated results include Azad VTC Private Limited and Azad Prime Private Limited as subsidiaries.
The company operates in one primary reportable segment, the manufacture and sale of high precision and OEM components. The company granted 80,000 employee stock options on 12 May 2026 at an exercise price of ₹1,050 per share.
Of the ₹700 crore raised through a qualified institutions placement in the quarter ended 31 Mar 2025, ₹621.76 crore had been utilised by 30 Sep 2026 and ₹78.24 crore remained unutilised, held in deposits with commercial banks.
Inference
The filing states that the statutory auditors issued an unmodified limited review conclusion on both the consolidated and standalone results. Capital and borrowing activity is also reported: the QIP proceeds are partly unutilised, and the ESOP grant is recorded.
The filing does not give the reasons for the fall in consolidated profit against higher revenue, or for the change in tax expense between the quarters. A reader would want those explanations, and the filing leaves them open.
Filed with BSE on . Reference: Original filing (PDF)
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.
