KICLKalyani Investment Company Ltd.
Kalyani Investment Company Q2 FY27 Results: Consolidated Net Profit ₹33.72 Crore on Total Income of ₹47.91 Crore
- Earnings
- investments
Reviewed byRachit TripathiBlacklitt Research
Kalyani Investment Company (NSE: KICL) reported consolidated total income of ₹47.91 crore and net profit of ₹33.72 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹49.46 crore and net profit of ₹36.31 crore, it said in a filing on 04 Nov 2026.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹47.91 crore, up 9.1% YoY and 705.5% QoQ
- Net profit and EPS: ₹33.72 crore, up 78.2% YoY; basic EPS ₹77.25
- Dividend income: ₹425.01 million reported in the quarter's revenue lines, the main source of income
Standalone
The company on its own, without its subsidiaries
- Total income: ₹49.46 crore, up 5.2% YoY and 731.5% QoQ
- Net profit and EPS: ₹36.31 crore, up 17.2% YoY; basic EPS ₹83.18
- Tax expense: ₹10.57 crore, 22.5% of profit before tax of ₹46.88 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| Total income | 47.91 | 43.93 | +9.1% | 5.95 | +705.5% |
| 33.72 | 18.93 | +78.2% | 0.68 | n/a | |
| Profit before tax | 43.42 | 27.06 | +60.4% | 0.99 | n/a |
| Tax expense | 9.70 | 8.14 | +19.2% | 0.31 | n/a |
| Net profit margin | 70.39% | 43.09% | +27.30 pp | 11.50% | +58.89 pp |
| EPS, basic (₹) | 77.25 | 43.36 | +78.2% | 1.57 | n/a |
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 grew faster than income in the consolidated results. Net profit rose 78.2% to ₹33.72 crore while total income rose 9.1% to ₹47.91 crore, and profit before tax rose 60.4% to ₹43.42 crore.
The associate's exceptional items sit inside these results. The notes record an impairment charge of ₹14.77 crore at Hikal Limited on assets no longer usable after a plant was repurposed, a reduction of ₹8.9 crore in a gratuity-related liability in the quarter ended 30 Jun 2026, and a reversal of ₹10.7 crore in current tax for the year ended 31 Mar 2026 after a CIT(Appeals) order. The company's share of the associate's total comprehensive income was ₹-1.77 crore for the quarter.
Consolidated net profit of ₹33.72 crore is ₹2.59 crore lower than standalone net profit of ₹36.31 crore, and consolidated total income of ₹47.91 crore is ₹1.55 crore lower than standalone total income of ₹49.46 crore. Tax expense of ₹9.70 crore is 22.3% of consolidated profit before tax.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| Total income | 49.46 | 47.02 | +5.2% | 5.95 | +731.5% |
| 36.31 | 30.99 | +17.2% | 2.42 | n/a | |
| Profit before tax | 46.88 | 41.10 | +14.1% | 3.31 | n/a |
| Tax expense | 10.57 | 10.11 | +4.5% | 0.89 | n/a |
| Net profit margin | 73.42% | 65.91% | +7.52 pp | 40.70% | +32.72 pp |
| EPS, basic (₹) | 83.18 | 70.98 | +17.2% | 5.55 | n/a |
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 17.2% to ₹36.31 crore on total income up 5.2% to ₹49.46 crore. Profit before tax rose 14.1% to ₹46.88 crore, so net profit grew faster than profit before tax, with tax expense up 4.5% to ₹10.57 crore.
The company says its main source of income is dividends on investments held, and that its business falls within a single segment, so segment reporting is not applicable. Standalone cash flow shows dividend paid of ₹4.37 crore in the half year ended 30 Sep 2026.
Compared with the quarter ended 30 Jun 2026, both natures show very large increases in income and profit, from a base of ₹5.95 crore total income. The filing does not give the reason for the large swings in fair value changes and other comprehensive income, which were ₹-12,368.69 million on a standalone basis in the quarter and ₹26,842.42 million in the quarter before.
The statutory auditors, PG Bhagwat LLP, issued a limited review report on the standalone results with an unmodified conclusion. On the consolidated results they drew attention to note 5, which covers environmental investigations and litigation at Hikal Limited, and said the outcome of that matter is presently uncertain. The Supreme Court has stayed a National Green Tribunal order that accepted joint committee reports, including recovery of ₹17.45 crore from Hikal Limited, and the associate believes it has a good case on merits.
Inference
The filing does not say when or how much any future dividend will be, nor how the outcome of the Supreme Court matter will affect Hikal Limited or the company's share of its results.
Mr Yogesh S. Apre was appointed Company Secretary and Compliance Officer with effect from 4 Nov 2026; the filing does not give the reason for the appointment beyond that date.
Filed with BSE on . Reference: Original filing (PDF)
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