Rhetan TMT Q2 FY27 Results: Standalone Net Profit ₹2.92 Crore on Total Income of ₹8.10 Crore
- Earnings
- Steel (TMT bars)
Reviewed byKeshav SehgalBlacklitt Research
Rhetan TMT (NSE: RHETAN) reported standalone total income of ₹8.10 crore and net profit of ₹2.92 crore for the quarter ended 30 Sep 2026, it said in a filing on 03 Nov 2026. The filing reports standalone results only, with no consolidated statement.
Key highlights
Standalone
The company on its own, without its subsidiaries
- Total income: ₹8.10 crore, up 12.4% YoY and down 4.8% QoQ
- Net profit and EPS: ₹2.92 crore, up 1.6% YoY and down 7.6% QoQ; basic EPS ₹0.04
- Other income: ₹4.47 crore, up 82.4% YoY, against revenue from operations of ₹3.63 crore
- Finance costs: ₹0.35 crore, down 6.5% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 8.10 | 7.21 | +12.4% | 8.52 | -4.8% | |
| Revenue from operations | 3.63 | 4.76 | -23.7% | 4.06 | -10.6% |
| Other income | 4.47 | 2.45 | +82.4% | 4.45 | +0.4% |
| 2.92 | 2.87 | +1.6% | 3.16 | -7.6% | |
| Profit before tax | 2.99 | 3.03 | -1.2% | 3.31 | -9.5% |
| Finance costs | 0.35 | 0.38 | -6.5% | 0.33 | +5.8% |
| Depreciation | 0.15 | 0.14 | +8.0% | 0.15 | -0.1% |
| Tax expense | 0.07 | 0.16 | -52.2% | 0.15 | -49.7% |
| Net profit margin | 36.03% | 39.86% | -3.83 pp | 37.09% | -1.06 pp |
| EPS, basic (₹) | 0.04 | 0.04 | 0.0% | 0.04 | 0.0% |
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.
Other income now carries more of the top line than sales do. In the quarter ended 30 Sep 2026 other income of ₹4.47 crore was 55.2% of total income of ₹8.10 crore, while revenue from operations of ₹3.63 crore fell 23.7% from ₹4.76 crore a year earlier. Other income rose 82.4% over the same period.
Net profit grew more slowly than total income. Net profit rose 1.6% to ₹2.92 crore, against 12.4% growth in total income, and profit before tax fell 1.2% to ₹2.99 crore. Other income of ₹4.47 crore is 149.3% of profit before tax, so the quarter's pre-tax profit is smaller than the other income it includes.
Tax was lower. Finance costs of ₹0.35 crore are 4.3% of total income. The statement shows no exceptional items in the quarter, the preceding quarter, the year-earlier quarter or the half year.
Against the preceding quarter, total income fell 4.8% to ₹8.10 crore and net profit fell 7.6% to ₹2.92 crore. Net profit margin was 36.03%, against 39.86% a year earlier and 37.09% in Q1 FY27. Half-year total income was ₹16.62 crore and half-year net profit was ₹6.08 crore, against ₹12.92 crore and ₹3.63 crore a year earlier.
Rhetan TMT operates in a single segment, the manufacturing of TMT bars. The Board approved the results at a meeting on 3 Nov 2026, and the statutory auditors GMCA & Co. issued a limited review report that says nothing has come to their attention that causes them to believe the statement contains a material misstatement. Note 1 says the review report contains no observation that could affect the quarter's results.
Blacklitt's data puts the market value at ₹1,121 crore at the 03 Nov 2026 close of ₹14.07 a share. The latest quarter before this one, Q1 FY27, reported total income of ₹8.52 crore and net profit of ₹3.16 crore.
Inference
Paid-up equity share capital is ₹79.69 crore at face value Re 1 a share, and other equity rose to ₹35.00 crore at 30 Sep 2026 from ₹28.93 crore at 31 Mar 2026. Long-term borrowings fell to ₹14.78 crore from ₹26.94 crore over the same period.
The filing does not state the reason for the rise in other income relative to revenue from operations, the reason for the fall in revenue from operations, whether the other income is interest from loans, or the reason for the rise in non-current loans from ₹8.23 crore to ₹15.32 crore.
Filed with BSE on . Reference: Original filing (PDF)
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