Nirlon Q2 FY27 Results: Standalone Net Profit ₹71.89 Crore on Total Income of ₹174 Crore
- Earnings
- Real estate leasing
Reviewed byKeshav SehgalBlacklitt Research
Nirlon (NSE: NIRLON) reported total income of ₹174.13 crore and net profit of ₹71.89 crore for the quarter ended 30 Sep 2026, on a standalone basis, it said in a filing on 02 Nov 2026. Net profit fell from ₹147.66 crore a year earlier, when a deferred tax reversal lifted tax income.
Key highlights
Standalone
The company on its own, without its subsidiaries
- Total income: ₹174.13 crore, up 3.1% YoY and 0.9% QoQ
- Net profit and EPS: ₹71.89 crore, down 51.3% YoY and up 3.6% QoQ; basic EPS ₹7.98
- Tax expense: ₹24.21 crore against a year-ago tax credit of ₹54.63 crore
- Final dividend: ₹15 per share, aggregating ₹135.18 crore, paid 21 Sep 2026
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 174.13 | 168.85 | +3.1% | 172.66 | +0.9% | |
| Revenue from operations | 169.08 | 165.31 | +2.3% | 168.31 | +0.5% |
| Other income | 5.05 | 3.54 | +42.5% | 4.36 | +15.9% |
| 71.89 | 147.66 | -51.3% | 69.38 | +3.6% | |
| Profit before tax | 96.10 | 93.03 | +3.3% | 93.31 | +3.0% |
| Finance costs | 26.48 | 26.09 | +1.5% | 26.28 | +0.8% |
| Depreciation | 13.95 | 13.79 | +1.1% | 13.95 | 0.0% |
| Tax expense | 24.21 | -54.63 | n/a | 23.93 | +1.2% |
| Net profit margin | 41.28% | 87.45% | -46.17 pp | 40.18% | +1.10 pp |
| EPS, basic (₹) | 7.98 | 16.39 | -51.3% | 7.70 | +3.6% |
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.
Profit before tax was ₹96.10 crore, up 3.3% from ₹93.03 crore, but the year-ago quarter carried a tax expense of minus ₹54.63 crore against ₹24.21 crore this quarter. The company's notes say the year-ago figure includes a reversal of ₹69.51 crore from remeasurement of deferred tax under section 115BAA of the Income Tax Act, which the company adopted in FY 2025-26.
Set side by side, the operating lines moved modestly. Revenue from operations rose 2.3% to ₹169.08 crore, while other income rose 42.5% to ₹5.05 crore. Other income is 5.3% of profit before tax, and finance costs of ₹26.48 crore are 15.2% of total income. Finance costs rose 1.5% year on year, and the notes do not give a reason for the rise in finance costs or property management expenses.
Against the previous quarter, profit before tax rose 3.0% to ₹96.10 crore and net profit rose 3.6% to ₹71.89 crore. The tax expense of ₹24.21 crore is 25.2% of profit before tax. The filing states that other comprehensive income for the quarter is nil.
For the six months ended 30 Sep 2026, the company reports total income of ₹346.80 crore, profit after tax of ₹141.27 crore and basic EPS of ₹15.68, not annualised. The filing reports licensing of investment properties as its only reportable segment and discloses no segment information.
The filing says the Limited Review Report was submitted by S R B C & Co. LLP, the statutory auditors. Paid-up equity share capital is ₹90.12 crore at a face value of ₹10 per share. Against a market value of ₹5,689 crore at the 30 Oct 2026 close of ₹631.30 a share, the company's latest quarter before this one reported total income of ₹172.66 crore and net profit of ₹69.38 crore.
Inference
The filing records a final dividend of ₹15 per share, approved by shareholders on 18 Sep 2026 and paid on 21 Sep 2026, aggregating ₹135.18 crore.
The filing does not state whether the ₹69.51 crore deferred tax reversal in the year-ago quarter is a one-off in its entirety, nor whether any further dividend will be declared after 30 Sep 2026. The reason for the rise in finance costs is also not stated.
Filed with BSE on . Reference: Original filing (PDF)
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