ZSARACOMSaraswati Commercial (India) Ltd.
Saraswati Commercial (India) Q2 FY27 Results: Consolidated Net Profit ₹53.04 Crore on Total Income of ₹64.35 Crore
- Earnings
- investment and finance
Reviewed byKeshav SehgalBlacklitt Research
Saraswati Commercial (India) (NSE: ZSARACOM) reported consolidated total income of ₹64.35 crore and net profit of ₹53.04 crore for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026. The board approved the un-audited results at a meeting the same day.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹64.35 crore, down 12.6% YoY and 14.8% QoQ
- Net profit and EPS: ₹53.04 crore, down 12.0% YoY; basic EPS ₹483.96
- Finance costs: ₹0.13 crore, down 80.8% YoY from ₹0.68 crore
- Profit before tax: ₹62.73 crore, down 12.6% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹64.35 crore, down 12.6% YoY and 14.8% QoQ
- Net profit and EPS: ₹53.04 crore, down 12.0% YoY; basic EPS ₹483.97
- Finance costs: ₹0.13 crore, down 80.8% YoY from ₹0.68 crore
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 64.35 | 73.62 | -12.6% | 75.57 | -14.8% | |
| Revenue from operations | 64.35 | 73.62 | -12.6% | 75.57 | -14.8% |
| Other income | 0.00 | 0.00 | n/a | 0.00 | n/a |
| 53.04 | 60.30 | -12.0% | 63.56 | -16.6% | |
| Profit before tax | 62.73 | 71.78 | -12.6% | 74.35 | -15.6% |
| Finance costs | 0.13 | 0.68 | -80.8% | 0.00 | n/a |
| Depreciation | 0.00 | 0.00 | +64.0% | 0.00 | +2.5% |
| Tax expense | 9.69 | 11.48 | -15.6% | 10.79 | -10.2% |
| Net profit margin | 82.42% | 81.91% | +0.51 pp | 84.11% | -1.69 pp |
| EPS, basic (₹) | 483.96 | 615.32 | -21.3% | 579.97 | -16.6% |
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.
Consolidated total income and net profit both fell in the quarter, with net profit down 12.0% YoY against a 12.6% fall in total income. Other income is nil, so revenue from operations is the whole of total income; the statement attributes it mainly to net gains on fair value changes and interest and dividend income.
Net profit was 82.42% of total income, against 81.91% a year earlier. Tax expense of ₹9.69 crore is 15.4% of profit before tax of ₹62.73 crore. Finance costs of ₹0.13 crore are small against total income, at 0.2% of it, and are down from ₹0.68 crore a year earlier; the filing does not explain the fall.
The consolidated results include Sareshwar Trading and Finance Private Limited and Arkaya Commercial Private Limited. The auditor's other matter paragraph says two subsidiaries' interim financial information was not reviewed by their auditors. Management states that this is not material to the group, and their total assets are ₹17.55 crore.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 64.35 | 73.61 | -12.6% | 75.56 | -14.8% | |
| Revenue from operations | 64.35 | 73.61 | -12.6% | 75.56 | -14.8% |
| Other income | 0.00 | 0.00 | n/a | 0.00 | n/a |
| 53.04 | 60.30 | -12.0% | 63.56 | -16.6% | |
| Profit before tax | 62.73 | 71.78 | -12.6% | 74.35 | -15.6% |
| Finance costs | 0.13 | 0.68 | -80.8% | 0.00 | n/a |
| Depreciation | 0.00 | 0.00 | +64.0% | 0.00 | +2.5% |
| Tax expense | 9.69 | 11.48 | -15.6% | 10.79 | -10.2% |
| Net profit margin | 82.42% | 81.91% | +0.51 pp | 84.12% | -1.69 pp |
| EPS, basic (₹) | 483.97 | 615.32 | -21.3% | 579.98 | -16.6% |
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.
Standalone figures track the consolidated ones closely. Total income of ₹64.35 crore and net profit of ₹53.04 crore are the same as consolidated, and EPS differs only in the second decimal place, at ₹483.97 against ₹483.96.
Standalone net profit for the six months ended 30 Sep 2026 is ₹116.60 crore on total income of ₹139.91 crore. The limited review report by GBCA & Associates LLP on the standalone results found nothing that indicates the statement is materially misstated.
Inference
The board also appointed Kiran Mhalim as Chief Information Officer and Head of IT, a senior managerial personnel role, with immediate effect. The filing does not give the reason for the appointment.
The filing does not explain the reason for the large net gain on fair value changes in the quarter, which is the main part of revenue from operations.
Filed with BSE on . Reference: Original filing (PDF)
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.
