BEEZAASANBeezaasan Explotech Ltd.
Beezaasan Explotech Q2 FY27 Results: Standalone Net Profit ₹7.42 Crore on Total Income of ₹128 Crore
- Earnings
- explosives manufacturing
Reviewed byRachit TripathiBlacklitt Research
Beezaasan Explotech (NSE: BEEZAASAN) reported standalone total income of ₹127.72 crore and net profit of ₹7.42 crore for the quarter ended 30 Sep 2026, it said in a filing on 06 Nov 2026. Consolidated figures are not in the pages reviewed.
Key highlights
Standalone
The company on its own, without its subsidiaries
- Total income: ₹127.72 crore, up 26.3% YoY and 14.0% QoQ
- Net profit and EPS: ₹7.42 crore, down 5.7% YoY and up 88.4% QoQ; basic EPS ₹4.90
- Finance costs: ₹1.46 crore, up 215.3% YoY from ₹0.46 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 127.72 | 101.15 | +26.3% | 112.08 | +14.0% | |
| Revenue from operations | 126.98 | 100.46 | +26.4% | 111.12 | +14.3% |
| Other income | 0.74 | 0.69 | +6.8% | 0.95 | -22.7% |
| 7.42 | 7.87 | -5.7% | 3.94 | +88.4% | |
| Profit before tax | 9.98 | 10.58 | -5.7% | 5.00 | +99.5% |
| Finance costs | 1.46 | 0.46 | +215.3% | 1.00 | +46.8% |
| Depreciation | 1.86 | 1.41 | +32.3% | 1.46 | +27.5% |
| Tax expense | 2.56 | 2.72 | -5.8% | 1.06 | +140.4% |
| Net profit margin | 5.81% | 7.78% | -1.97 pp | 3.51% | +2.30 pp |
| EPS, basic (₹) | 4.90 | 6.09 | -19.5% | 3.01 | +62.8% |
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.
Income grew faster than profit this quarter. Total income rose 26.3% from a year earlier, but net profit fell 5.7%, in line with the 5.7% fall in profit before tax. The net profit margin narrowed to 5.81% from 7.78%.
Finance costs are the clearest change below the operating line. At ₹1.46 crore they are 1.1% of total income, against ₹0.46 crore a year earlier. Depreciation rose 32.3% to ₹1.86 crore over the same period.
Against the previous quarter, profit recovered. Net profit rose 88.4% to ₹7.42 crore from ₹3.94 crore, and tax expense rose 140.4% to ₹2.56 crore. Other income of ₹0.74 crore is 7.4% of profit before tax of ₹9.98 crore.
Tax expense of ₹2.56 crore is 25.6% of profit before tax, against ₹2.72 crore on ₹10.58 crore a year earlier, so the tax rate was higher this quarter than in the same quarter last year.
The company's statutory auditor, PSV Jain & Associates, carried out a limited review of the standalone and consolidated results and issued review reports with no modification noted in its conclusions.
Beezaasan Explotech manufactures slurry and emulsion explosives and detonating fuse. Its IPO of 3,424,800 equity shares at ₹175 a share raised ₹59.93 crore gross and has been listed on the BSE SME platform since 03 Mar 2025.
Net IPO proceeds were ₹52.34 crore after issue expenses. Up to 31 Mar 2026, ₹34.19 crore had been used, leaving ₹18.22 crore unutilised. The company says certain expansion components await approvals under the Explosive Rules, 2008, and has parked ₹20 crore in fixed deposit receipts until the clearances are received.
The company modified its IPO object clause to replace bulk explosives plants with detonator plants and to shift amounts to civil construction, approved by special resolution at an AGM held on 17 Sep 2026.
Inference
The board appointed DK Laddha & Associates, Chartered Accountants, as internal auditor with effect from 06 Nov 2026 for the FY 2026-27 internal audit, replacing Sonal Bikaneria, who resigned with effect from 02 Nov 2026. The filing gives no reason for the resignation beyond the resignation itself and does not state the new auditor's fees, which are to be mutually agreed.
The company says it has assessed the impact of the four Labour Codes notified on 21 Nov 2025 and that the impact is disclosed on the basis of available information. The filing does not say when the parked IPO funds will be deployed or when the expansion approvals are expected.
Filed with BSE on . Reference: Original filing (PDF)
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