Nitta Gelatin India Q2 FY27 Results: Consolidated Net Profit ₹35.91 Crore on Total Income of ₹174 Crore
Earnings
Gelatin and ossein manufacturing
Blacklitt Research4 min read
Photo by Roberto Sorin on Unsplash (Unsplash License). Illustrative image.
Nitta Gelatin India said in a filing on 30 Oct 2026 that, for the quarter ended 30 Sep 2026, consolidated total income was ₹173.60 crore and net profit was ₹35.91 crore. On a standalone basis, total income was ₹174.72 crore and net profit was ₹37.17 crore.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹173.60 crore, up 22.3% YoY and 20.1% QoQ
Net profit and EPS: ₹35.91 crore, up 95.4% YoY; basic EPS ₹39.57 against ₹20.29 a year earlier
Discontinued operations: Loss of ₹22.07 lakh from subsidiary Bamni Proteins Limited, shown separately
Standalone
The company on its own, without its subsidiaries
Total income: ₹174.72 crore, up 16.9% YoY and 20.9% QoQ
Net profit and EPS: ₹37.17 crore, up 42.2% YoY; basic EPS ₹40.94 against ₹28.79 a year earlier
Other income: ₹5.90 crore, down 48.2% YoY; includes ₹1.12 crore dividend from the subsidiary
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
173.60
141.93
+22.3%
144.54
+20.1%
Revenue from operations
168.82
138.07
+22.3%
140.87
+19.8%
Other income
4.78
3.87
+23.7%
3.67
+30.4%
35.91
18.38
+95.4%
25.18
+42.6%
Profit before tax
46.14
25.52
+80.8%
33.98
+35.8%
Finance costs
0.15
0.34
-55.3%
0.14
+9.0%
Depreciation
6.02
3.74
+61.2%
4.01
+50.2%
Tax expense
10.01
6.63
+50.9%
8.70
+15.1%
Net profit margin
20.69%
12.95%
+7.74 pp
17.42%
+3.27 pp
EPS, basic (₹)
39.57
20.29
+95.0%
27.73
+42.7%
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 rose faster than total income. Net profit was ₹35.91 crore against ₹18.38 crore a year earlier, up 95.4%, while total income rose 22.3% to ₹173.60 crore. Profit before tax rose 80.8% to ₹46.14 crore. Finance costs of ₹0.15 crore are 0.1% of total income this quarter, against ₹0.34 crore a year earlier.
Tax expense includes a credit of ₹1.57 crore for income tax relating to earlier years. Tax expense of ₹10.01 crore is 21.7% of profit before tax of ₹46.14 crore, against ₹6.63 crore a year earlier, up 50.9%.
The discontinued line is the subsidiary Bamni Proteins Limited, whose results are presented as discontinued operations, with a loss of ₹22.07 lakh in the quarter; the net profit figure includes that loss. The Maharashtra State Pollution Control Board ordered the subsidiary, by a closure order dated 13 Mar 2024, to stop manufacturing at its Bamni factory in Chandrapur district, citing failure to comply with certain pollution control norms. The subsidiary's board decided to close the factory permanently with effect from 25 Jul 2024, and the subsidiary's accounts are prepared on a basis other than going concern.
On 16 Jun 2025 the holding company's board decided to explore the disposal of the subsidiary's assets. The subsidiary's property, plant and equipment were classified as held for sale from 30 Jun 2025, and in the current quarter the subsidiary issued fresh newspaper advertisements inviting offers for its assets.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
174.72
149.46
+16.9%
144.54
+20.9%
Revenue from operations
168.82
138.07
+22.3%
140.87
+19.8%
Other income
5.90
11.39
-48.2%
3.67
+60.9%
37.17
26.14
+42.2%
25.19
+47.6%
Profit before tax
47.18
32.77
+44.0%
33.89
+39.2%
Finance costs
0.24
0.61
-61.2%
0.23
+5.6%
Depreciation
6.02
3.74
+61.2%
4.01
+50.2%
Tax expense
10.01
6.63
+50.9%
8.70
+15.1%
Net profit margin
21.28%
17.49%
+3.78 pp
17.43%
+3.85 pp
EPS, basic (₹)
40.94
28.79
+42.2%
27.75
+47.5%
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 rose 42.2% to ₹37.17 crore, slower than profit before tax, which rose 44.0% to ₹47.18 crore. Revenue from operations rose 22.3% to ₹168.82 crore, while other income fell 48.2% to ₹5.90 crore. Basic EPS was ₹40.94 against ₹28.79 a year earlier. Depreciation rose to ₹6.02 crore from ₹3.74 crore, up 61.2%.
Standalone other income for the quarter ended 30 Sep 2026 includes ₹1.12 crore of dividend income from the subsidiary; the quarter ended 30 Sep 2025 included ₹7.53 crore. Other income of ₹5.90 crore is 3.4% of total income this quarter. The standalone tax line also includes the ₹1.57 crore credit for income tax relating to earlier years, and tax expense of ₹10.01 crore is 21.2% of profit before tax of ₹47.18 crore.
Nitta Gelatin India is a joint venture of Kerala State Industrial Development Corporation Ltd. and Nitta Gelatin Inc., and the filing names gelatin, ossein and Reva divisions. Under the labour codes, which took effect on 21 Nov 2025, the company estimated an incremental liability of ₹2.26 crore for its own employees, recognised in employee benefit expense for the year ended 31 Mar 2026. It also held a provision of ₹41 lakh for gratuity of its contract workforce as at 31 Mar 2026.
Inference
The Board decided to seek shareholder approval, by postal ballot under Section 110 of the Companies Act, 2013, for appointing Snehil Kumar Singh as nominee director of Kerala State Industrial Development Corporation Limited in place of Arun K. Vijayan. The postal ballot notice will be sent to shareholders in due course.
The auditor, Walker Chandiok & Co LLP, issued limited review reports on both sets of results. Each says nothing has come to its attention that causes it to believe the statement has not disclosed the information required under Regulation 33 or contains any material misstatement; the auditor does not express an audit opinion. For the customs matter, the company says it will review the contingent liability of ₹18.20 crore and the provision of ₹1.49 crore upon disposal of the petition, which the Supreme Court has admitted with an interim stay on the Kerala High Court's judgment.
A value and timetable for the sale of the subsidiary's assets, and a date for the revised Supreme Court hearing, are not stated.
Create a free account to read the rest of this article and the analysis that follows.
By continuing you agree to our Terms and Privacy Policy, and to receive updates from Blacklitt by email. You can unsubscribe anytime.
Disclaimer:
The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.
NITTAGELANitta Gelatin India Ltd.
