PANAMAPETPanama Petrochem Ltd.
Panama Petrochem Q2 FY27 Results: Consolidated Net Profit ₹243 Crore on Total Income of ₹1,730 Crore
- Earnings
- Specialty petroleum products
Reviewed byKeshav SehgalBlacklitt Research
Panama Petrochem (NSE: PANAMAPET) reported consolidated total income of ₹1,729.89 crore and net profit of ₹243.34 crore for the quarter ended 30 Sep 2026, it said in a filing on 04 Nov 2026. Standalone total income was ₹1,045.44 crore and standalone net profit ₹151.59 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹1,729.89 crore, up 122.9% YoY and 0.5% lower QoQ
- Net profit: ₹243.34 crore, up 359.2% YoY and 21.2% lower QoQ
- EPS: ₹40.22 basic, against ₹8.76 a year earlier
- Finance costs: ₹4.91 crore, up 43.1% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1,045.44 crore, up 106.3% YoY and 16.5% lower QoQ
- Net profit: ₹151.59 crore, up 352.8% YoY and 30.3% lower QoQ
- EPS: ₹25.06 basic, against ₹5.53 a year earlier
- Finance costs: ₹3.89 crore, up 46.2% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,729.89 | 776.18 | +122.9% | 1,739.03 | -0.5% | |
| Revenue from operations | 1,722.34 | 773.22 | +122.7% | 1,735.15 | -0.7% |
| Other income | 7.55 | 2.96 | +155.1% | 3.88 | +94.6% |
| 243.34 | 52.99 | +359.2% | 308.91 | -21.2% | |
| Profit before tax | 294.50 | 64.74 | +354.9% | 382.58 | -23.0% |
| Finance costs | 4.91 | 3.43 | +43.1% | 5.50 | -10.7% |
| Depreciation | 3.85 | 3.47 | +11.0% | 3.68 | +4.6% |
| Tax expense | 51.16 | 11.75 | +335.4% | 73.67 | -30.6% |
| Net profit margin | 14.07% | 6.83% | +7.24 pp | 17.76% | -3.70 pp |
| EPS, basic (₹) | 40.22 | 8.76 | +359.1% | 51.06 | -21.2% |
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. Consolidated net profit rose 359.2% against the year-earlier quarter while total income rose 122.9%, and profit before tax rose 354.9%. Other income of ₹7.55 crore is 0.4% of total income, so the income base is almost entirely revenue from operations of ₹1,722.34 crore.
Against the June quarter the picture reverses: total income eased 0.5% and net profit fell 21.2%, with tax expense down 30.6% to ₹51.16 crore. The consolidated tax expense is 17.4% of profit before tax of ₹294.50 crore.
The consolidated results include the subsidiary Panol Industries RMC FZE. Consolidated net profit of ₹243.34 crore is ₹91.75 crore higher than standalone net profit of ₹151.59 crore, and consolidated total income is ₹684.45 crore higher than standalone total income of ₹1,045.44 crore.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1,045.44 | 506.65 | +106.3% | 1,252.08 | -16.5% | |
| Revenue from operations | 1,038.00 | 503.73 | +106.1% | 1,247.86 | -16.8% |
| Other income | 7.44 | 2.92 | +154.8% | 4.22 | +76.3% |
| 151.59 | 33.48 | +352.8% | 217.52 | -30.3% | |
| Profit before tax | 202.75 | 45.23 | +348.3% | 291.19 | -30.4% |
| Finance costs | 3.89 | 2.66 | +46.2% | 2.96 | +31.4% |
| Depreciation | 2.47 | 2.19 | +12.8% | 2.35 | +5.1% |
| Tax expense | 51.16 | 11.75 | +335.4% | 73.67 | -30.6% |
| Net profit margin | 14.50% | 6.61% | +7.89 pp | 17.37% | -2.87 pp |
| EPS, basic (₹) | 25.06 | 5.53 | +353.2% | 35.95 | -30.3% |
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 352.8% YoY against income growth of 106.3%, a gap similar to the consolidated one. Standalone other income of ₹7.44 crore is 0.7% of total income, and standalone finance costs of ₹3.89 crore are 0.4% of total income.
Standalone tax expense of ₹51.16 crore is 25.2% of profit before tax of ₹202.75 crore. The tax figure is the same as the consolidated figure for the quarter. Net profit fell 30.3% QoQ, more than the 16.5% fall in total income.
Inference
The auditor, JMR Associates LLP, issued limited review reports on both the standalone and consolidated results without modification. The board approved the results on 4 Nov 2026, and the company operates in a single primary segment of specialty petroleum products, with Ind AS 108 segment reporting not applicable.
The statement does not explain the reason for the sharp rise in income against the year-earlier quarter, or the reason for the change in finance costs or the tax rate.
Filed with BSE on . Reference: Original filing (PDF)
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