GRAUWEILGrauer & Weil (India) Ltd.
Grauer & Weil (India) Q2 FY27 Results: Consolidated Net Profit ₹43.96 Crore on Total Income of ₹326 Crore
- Earnings
- Chemicals
Reviewed byKeshav SehgalBlacklitt Research
Grauer & Weil (India) (NSE: GRAUWEIL) reported consolidated total income of ₹326 crore and net profit of ₹44 crore for the quarter ended 30 Sep 2026, it said in a filing on 02 Nov 2026. Standalone total income was ₹319 crore and net profit ₹45 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹325.71 crore, up 12.0% YoY and 8.9% QoQ
- Net profit: ₹43.96 crore, up 14.0% YoY and down 18.0% QoQ
- EPS: ₹0.74 basic, against ₹0.85 a year earlier and ₹0.88 in Q1 FY27
- Other income: ₹35.00 crore, 10.7% of total income
Standalone
The company on its own, without its subsidiaries
- Total income: ₹319.16 crore, up 6.8% YoY and 8.0% QoQ
- Net profit: ₹44.67 crore, down 45.9% YoY and 19.7% QoQ
- EPS: ₹0.74 basic, against ₹0.92 in Q1 FY27; year-ago EPS not shown in the filing extract
- Tax expense: Nil in the quarter, against ₹25.00 crore a year earlier
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 326 | 291 | +12.0% | 299 | +8.9% | |
| Revenue from operations | 290 | 259 | +12.2% | 270 | +7.7% |
| Other income | 35 | 32 | +9.9% | 29 | +19.6% |
| 44 | 39 | +14.0% | 54 | -18.0% | |
| Profit before tax | 44 | 48 | -9.0% | 54 | -18.0% |
| Finance costs | 1 | 1 | +31.5% | 1 | 0.0% |
| Depreciation | 13 | 12 | +4.0% | 13 | 0.0% |
| Tax expense | 0 | 10 | n/a | n/a | n/a |
| Net profit margin | 13.50% | 13.26% | +0.23 pp | 17.91% | -4.41 pp |
| EPS, basic (₹) | 0.74 | 0.85 | -12.9% | 0.88 | -15.9% |
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.
Consolidated net profit rose 14.0% YoY while total income rose 12.0%, so profit grew slightly faster than income. Revenue from operations rose 12.2%, faster than other income at 9.9%, and other income made up 10.7% of total income.
Profit before tax fell 9.0% YoY to ₹43.96 crore, yet net profit rose. The tax line is nil this quarter against ₹10.11 crore a year earlier, so the tax charge in the year-ago quarter is the main gap between the two profit lines. Other income of ₹35.00 crore is 79.6% of profit before tax, which means the operating line alone was small relative to the quarter's profit.
Finance costs were ₹1.21 crore against ₹0.92 crore a year earlier. Depreciation was ₹12.85 crore, up from ₹12.36 crore. Both are small against revenue. Against the previous quarter, net profit fell 18.0% while total income rose 8.9%.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 319 | 299 | +6.8% | 295 | +8.0% | |
| Revenue from operations | 290 | 259 | +11.9% | 269 | +7.7% |
| Other income | 29 | 28 | +4.4% | 26 | +11.4% |
| 45 | 83 | -45.9% | 56 | -19.7% | |
| Profit before tax | 45 | 107 | -58.3% | 56 | -19.7% |
| Finance costs | 1 | 1 | +5.7% | 1 | 0.0% |
| Depreciation | 13 | 12 | +2.7% | 13 | 0.0% |
| Tax expense | 0 | 25 | n/a | n/a | n/a |
| Net profit margin | 14.00% | 27.65% | -13.66 pp | 18.84% | -4.84 pp |
| EPS, basic (₹) | 0.74 | n/a | n/a | 0.92 | -19.6% |
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 net profit fell 45.9% YoY to ₹44.67 crore while total income rose 6.8%. Profit before tax fell 58.3% to ₹44.67 crore from ₹107.13 crore a year earlier. The gap between the two falls is the tax line: the quarter shows no tax expense, against ₹25.00 crore in the year-ago quarter.
Revenue from operations rose 11.9% YoY to ₹289.57 crore, faster than other income, which rose 4.4% to ₹29.35 crore. Other income is 65.7% of profit before tax this quarter.
The filing does not give the reason for the fall in standalone profit before tax. Its notes cover the suspended Mall operation and a pending Supreme Court petition, but the notes do not quantify any effect on results.
Consolidated net profit of ₹43.96 crore is ₹0.71 crore below standalone net profit of ₹44.67 crore, while consolidated total income of ₹325.71 crore is ₹6.55 crore above standalone. Consolidated net profit rose 14.0% YoY while standalone net profit fell 45.9%, a divergence that the filing does not explain.
Inference
The filing states that the company's Mall operation remains temporarily suspended under a Maharashtra Pollution Control Board order dated 5 Mar 2025. The company has filed a special leave petition before the Supreme Court, which is pending. The company says it expects a favourable order on compliance of certain procedural matters, and no provision has been made except for a full and final claim as agreed.
The amount and nature of that agreed claim, its effect on results, and the timing of any Supreme Court outcome are not stated in the filing. Standalone dividend paid in the half year was ₹22.34 crore.
Filed with BSE on . Reference: Original filing (PDF)
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