JTL Industries Q2 FY27 Results: Consolidated Net Profit ₹28.97 Crore on Total Income of ₹617 Crore
- Earnings
- Steel tubes and pipes
Reviewed byRachit TripathiBlacklitt Research
JTL Industries (NSE: JTLIND) reported consolidated total income of ₹617.09 crore and consolidated net profit of ₹28.97 crore for the quarter ended 30 Sep 2026, it said in a filing on 02 Nov 2026. Standalone total income was ₹537.31 crore and standalone net profit ₹29.02 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹617.09 crore, up 43.1% YoY and down 15.0% QoQ
- Net profit and EPS: ₹28.97 crore, up 30.7% YoY and down 18.1% QoQ; basic EPS ₹0.64
- Finance costs: ₹4.69 crore, up 279.9% YoY and down 12.1% QoQ
Standalone
The company on its own, without its subsidiaries
- Total income: ₹537.31 crore, up 43.6% YoY and down 0.7% QoQ
- Net profit and EPS: ₹29.02 crore, up 45.8% YoY and down 1.2% QoQ; basic EPS ₹0.74
- Finance costs: ₹4.17 crore, up 115.0% YoY and down 8.9% QoQ
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 617.09 | 431.28 | +43.1% | 726.32 | -15.0% | |
| Revenue from operations | 613.79 | 429.30 | +43.0% | 721.61 | -14.9% |
| Other income | 3.30 | 1.98 | +66.9% | 4.71 | -29.9% |
| 28.97 | 22.16 | +30.7% | 35.37 | -18.1% | |
| Profit before tax | 39.71 | 30.69 | +29.4% | 48.44 | -18.0% |
| Finance costs | 4.69 | 1.23 | +279.9% | 5.33 | -12.1% |
| Depreciation | 9.84 | 4.70 | +109.2% | 9.71 | +1.4% |
| Tax expense | 10.74 | 8.53 | +25.9% | 13.07 | -17.8% |
| Net profit margin | 4.69% | 5.14% | -0.44 pp | 4.87% | -0.18 pp |
| EPS, basic (₹) | 0.64 | 0.56 | +14.3% | 0.90 | -28.9% |
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 grew more slowly than income over the year. Total income rose 43.1% to ₹617.09 crore, while net profit rose 30.7% to ₹28.97 crore, and profit before tax rose 29.4% to ₹39.71 crore. Tax expense rose 25.9% to ₹10.74 crore, which is 27.0% of profit before tax.
Finance costs rose from ₹1.23 crore to ₹4.69 crore, a jump of 279.9%, and depreciation more than doubled to ₹9.84 crore from ₹4.70 crore. Finance costs are 0.8% of total income this quarter. The notes do not explain the rise in finance costs.
Other income was ₹3.30 crore, 8.3% of profit before tax. Against the previous quarter, revenue from operations fell 14.9% to ₹613.79 crore, and net profit fell 18.1%. The notes do not give a reason for the sequential fall in revenue.
The auditor's limited review report is unmodified, but it carries an Emphasis of Matter paragraph on the insolvency process (CIRP) of JTL Defence Limited, formerly RCI Industries and Technologies Limited, and its acquisition by JTL Industries under an NCLT order dated 9 Oct 2025. The auditor says the financial impact, if any, is presently not ascertainable. The company says profit for the quarter is reduced by ₹2.78 crore from depreciation on revalued assets in JTL Defence Limited.
Net profit attributable to owners of the parent was ₹28.15 crore, and ₹0.81 crore was attributable to non-controlling interests. Basic EPS was ₹0.64, against ₹0.56 a year earlier and ₹0.90 in the previous quarter.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 537.31 | 374.18 | +43.6% | 541.05 | -0.7% | |
| Revenue from operations | 533.54 | 370.91 | +43.8% | 536.28 | -0.5% |
| Other income | 3.77 | 3.27 | +15.2% | 4.77 | -21.0% |
| 29.02 | 19.91 | +45.8% | 29.38 | -1.2% | |
| Profit before tax | 38.74 | 27.27 | +42.1% | 39.20 | -1.2% |
| Finance costs | 4.17 | 1.94 | +115.0% | 4.58 | -8.9% |
| Depreciation | 4.12 | 3.52 | +17.0% | 4.08 | +1.1% |
| Tax expense | 9.72 | 7.36 | +32.1% | 9.82 | -1.0% |
| Net profit margin | 5.40% | 5.32% | +0.08 pp | 5.43% | -0.03 pp |
| EPS, basic (₹) | 0.74 | 0.51 | +45.1% | 0.75 | -1.3% |
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 net profit rose faster than income. Net profit grew 45.8% to ₹29.02 crore, against a 43.6% rise in total income to ₹537.31 crore, and profit before tax rose 42.1% to ₹38.74 crore. Tax expense of ₹9.72 crore is 25.1% of profit before tax.
Standalone finance costs were ₹4.17 crore, up from ₹1.94 crore a year earlier, and depreciation was ₹4.12 crore against ₹3.52 crore. Other income of ₹3.77 crore is 9.7% of profit before tax, and it rose 15.2% YoY.
Against the previous quarter, standalone net profit was almost flat, down 1.2%, and total income fell 0.7%. Net profit margin was 5.40%, against 5.32% a year earlier.
Consolidated net profit of ₹28.97 crore is ₹0.05 crore lower than standalone net profit of ₹29.02 crore.
JTL Industries is a steel tubes and pipes maker operating in one reportable segment. The company has a wholly owned subsidiary, JTL Tubes Limited, two direct subsidiaries, JTL Engineering Limited and JTL Defence Limited, and an associate, Powersol Metalcraft Limited. A step-down subsidiary, RCI World Trade Link DMCC, Dubai, is not consolidated, and the company says it has been inactive since 19 Mar 2022.
Blacklitt data shows a market value of ₹2,999 crore at the 30 Oct 2026 close. The company's previous quarter, Q1 FY27, had consolidated net profit of ₹35.37 crore, so this quarter's ₹28.97 crore is lower on a sequential basis.
Inference
The company's cash flow statement shows dividend paid of ₹4.91 crore in the half year ended 30 Sep 2026. The filing does not give a record date or a payout ratio for it.
The filing also reports 11,42,500 Employee Stock Options granted under the JTL Industries Employee Stock Option Scheme 2025 during the quarter, and a re-constituted Audit Committee from 3 Nov 2026. What the financial impact of the JTL Defence insolvency process will be is not stated, and the auditor says it is presently not ascertainable.
Filed with BSE on . Reference: Original filing (PDF)
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