INDOBORAXIndo Borax & Chemicals Ltd.
Indo Borax & Chemicals Q2 FY27 Results: Consolidated Net Profit ₹4.75 Crore on Total Income of ₹63.35 Crore
- Earnings
- Chemicals
Reviewed byRachit TripathiBlacklitt Research
Indo Borax & Chemicals (NSE: INDOBORAX) reported consolidated total income of ₹63.35 crore and net profit of ₹4.75 crore for the quarter ended 30 Sep 2026, it said in a filing on 06 Nov 2026. Standalone total income was ₹63.33 crore and net profit ₹11.47 crore. The results include the Kronox Lab Sciences acquisition, effective 29 Sep 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹63.35 crore, up 3.1% YoY and down 13.1% QoQ
- Net profit: ₹4.75 crore, down 70.8% YoY and down 70.8% QoQ
- EPS: Basic ₹1.47, against ₹5.07 a year earlier
- Exceptional items: Net ₹3.48 crore after ₹6.64 crore Kronox acquisition cost
Standalone
The company on its own, without its subsidiaries
- Total income: ₹63.33 crore, up 3.5% YoY and down 13.1% QoQ
- Net profit: ₹11.47 crore, down 28.7% YoY and down 29.4% QoQ
- EPS: Basic ₹3.57, against ₹5.01 a year earlier
- Exceptional item: ₹10.12 crore profit on disposal of investment property and other assets
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 63.35 | 61.42 | +3.1% | 72.91 | -13.1% | |
| Revenue from operations | 58.94 | 57.85 | +1.9% | 70.36 | -16.2% |
| Other income | 4.42 | 3.57 | +23.6% | 2.56 | +72.7% |
| 4.75 | 16.26 | -70.8% | 16.25 | -70.8% | |
| Profit before tax | 7.79 | 22.55 | -65.5% | 22.00 | -64.6% |
| Finance costs | 1.13 | 0.00 | n/a | 0.05 | n/a |
| Depreciation | 0.46 | 0.86 | -46.9% | 0.31 | +49.3% |
| Tax expense | 3.04 | 6.29 | -51.7% | 5.75 | -47.1% |
| Net profit margin | 7.49% | 26.48% | -18.98 pp | 22.29% | -14.80 pp |
| EPS, basic (₹) | 1.47 | 5.07 | -71.0% | 5.07 | -71.0% |
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.
Net profit fell 70.8% year on year while total income rose 3.1%. Profit before tax dropped 65.5% to ₹7.79 crore, and the consolidated exceptional item was a net ₹3.48 crore, after a ₹10.12 crore profit on disposal of investment property offset by ₹6.64 crore of acquisition costs for Kronox Lab Sciences Limited.
Other income of ₹4.42 crore is 56.7% of profit before tax, while revenue from operations grew only 1.9%. Finance costs of ₹1.13 crore, against nil a year earlier, now sit against a quarter in which the Kronox acquisition was completed on 29 Sep 2026.
The consolidated statement records a provisional goodwill of ₹132.79 crore and intangibles of ₹70.21 crore on the Kronox stake, on an estimate basis. The filing says the acquisition cost is shown in exceptional items.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 63.33 | 61.19 | +3.5% | 72.91 | -13.1% | |
| Revenue from operations | 58.94 | 57.85 | +1.9% | 70.36 | -16.2% |
| Other income | 4.40 | 3.34 | +31.6% | 2.56 | +72.1% |
| 11.47 | 16.09 | -28.7% | 16.25 | -29.4% | |
| Profit before tax | 14.53 | 22.33 | -34.9% | 22.00 | -34.0% |
| Finance costs | 1.13 | 0.00 | n/a | 0.05 | n/a |
| Depreciation | 0.37 | 0.86 | -57.2% | 0.31 | +20.5% |
| Tax expense | 3.06 | 6.24 | -50.9% | 5.75 | -46.7% |
| Net profit margin | 18.11% | 26.30% | -8.19 pp | 22.29% | -4.19 pp |
| EPS, basic (₹) | 3.57 | 5.01 | -28.7% | 5.07 | -29.6% |
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 28.7% year on year, a smaller fall than the consolidated figure, while total income rose 3.5%. Profit before tax fell 34.9% to ₹14.53 crore. Standalone exceptional items were a ₹10.12 crore profit on disposal of investment property and other assets, and the standalone tax expense of ₹3.06 crore is 21.1% of profit before tax.
Consolidated net profit of ₹4.75 crore is ₹6.72 crore below standalone net profit of ₹11.47 crore.
The six-month cash flow statement shows dividends paid of ₹128.36 crore, against ₹3.21 crore a year earlier, and long-term borrowings proceeds of ₹240.00 crore. Current borrowings of ₹49.79 crore were outstanding at 30 Sep 2026.
The share-based payment charge of ₹5.03 crore is non-cash, and is recorded in the six months ended 30 Sep 2026.
Inference
The filing states the Kronox acquisition, the ₹240.00 crore of long-term borrowings and the ₹128.36 crore dividend paid in the six months, but it does not state the purpose of the acquisition or the basis and declaration date of the dividend. Whether the provisional Kronox fair values will change is not known, as the filing gives them on an estimate basis.
The filing does not explain the sharp rise in consolidated employee benefit expense, from ₹5.12 crore in the prior quarter to ₹10.06 crore this quarter.
Filed with BSE on . Reference: Original filing (PDF)
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