VALIANTORGValiant Organics Ltd.
Valiant Organics Q2 FY27 Results: Consolidated Net Profit ₹17.30 Crore on Total Income of ₹305 Crore
- Earnings
- specialty chemicals and pharma
Reviewed byKeshav SehgalBlacklitt Research
Valiant Organics (NSE: VALIANTORG) reported consolidated total income of ₹305.33 crore and consolidated net profit of ₹17.30 crore for the quarter ended 30 Sep 2026, it said in a filing on 05 Nov 2026. Standalone total income was ₹305.32 crore and standalone net profit ₹17.15 crore for the same quarter.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹305.33 crore, up 93.9% YoY and 30.0% QoQ
- Net profit and EPS: ₹17.30 crore, up 205.5% YoY and down 40.9% QoQ; basic EPS ₹6.18
- Other income: ₹1.11 crore, against ₹0.20 crore a year earlier and ₹3.28 crore in Q1 FY27
- Finance costs: ₹5.18 crore, up 21.8% YoY
Standalone
The company on its own, without its subsidiaries
- Total income: ₹305.32 crore, up 94.0% YoY and 30.4% QoQ
- Net profit and EPS: ₹17.15 crore, up 206.5% YoY and down 21.4% QoQ; basic EPS ₹6.12
- Other income: ₹1.11 crore, against ₹0.20 crore a year earlier and ₹2.64 crore in Q1 FY27
- Finance costs: ₹5.18 crore, up 21.7% YoY
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 305.33 | 157.50 | +93.9% | 234.82 | +30.0% | |
| Revenue from operations | 304.22 | 157.31 | +93.4% | 231.54 | +31.4% |
| Other income | 1.11 | 0.20 | +462.3% | 3.28 | -66.2% |
| 17.30 | 5.66 | +205.5% | 29.26 | -40.9% | |
| Profit before tax | 24.78 | 7.43 | +233.7% | 36.78 | -32.6% |
| Finance costs | 5.18 | 4.26 | +21.8% | 5.13 | +1.0% |
| Depreciation | 10.31 | 9.78 | +5.4% | 10.22 | +0.9% |
| Tax expense | 7.49 | 1.76 | +324.3% | 7.52 | -0.4% |
| Net profit margin | 5.66% | 3.59% | +2.07 pp | 12.46% | -6.80 pp |
| EPS, basic (₹) | 6.18 | 2.02 | +205.9% | 10.44 | -40.8% |
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 grew faster than income on a year-earlier basis, but the quarter's profit fell from the June 2026 quarter. Consolidated net profit rose 205.5% YoY against total income growth of 93.9%, and profit before tax rose 233.7%. Against Q1 FY27, profit before tax fell 32.6% to ₹24.78 crore while total income rose 30.0%.
Other income is small relative to the business: ₹1.11 crore, or 0.4% of total income and 4.5% of profit before tax. Consolidated tax expense of ₹7.49 crore is 30.2% of profit before tax, against ₹1.76 crore a year earlier on a much lower base. Finance costs of ₹5.18 crore are 1.7% of total income.
The notes include a fire insurance claim settlement of ₹8.53 crore received in FY 2025-26 for the Sarigam Division fire in FY 2022-23. Of this, ₹5.72 crore was recognised under exceptional items in FY 2025-26, with the balance accounted for elsewhere in the financial statements. The results for the quarter do not show an exceptional item line.
The consolidated limited review report says the auditors did not review interim financial statements of two subsidiaries, whose total assets are ₹64.11 crore, and relies on other auditors' reports for them. The report is unmodified.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 305.32 | 157.40 | +94.0% | 234.18 | +30.4% | |
| Revenue from operations | 304.22 | 157.21 | +93.5% | 231.54 | +31.4% |
| Other income | 1.11 | 0.20 | +467.5% | 2.64 | -58.1% |
| 17.15 | 5.60 | +206.5% | 21.82 | -21.4% | |
| Profit before tax | 24.64 | 7.36 | +234.7% | 28.92 | -14.8% |
| Finance costs | 5.18 | 4.26 | +21.7% | 5.13 | +1.0% |
| Depreciation | 10.31 | 9.78 | +5.4% | 10.22 | +0.9% |
| Tax expense | 7.49 | 1.76 | +324.3% | 7.09 | +5.5% |
| Net profit margin | 5.62% | 3.56% | +2.06 pp | 9.32% | -3.70 pp |
| EPS, basic (₹) | 6.12 | 2.00 | +206.0% | 7.79 | -21.4% |
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 results follow the same pattern. Net profit of ₹17.15 crore rose 206.5% YoY, against total income growth of 94.0%, and fell 21.4% from Q1 FY27 while total income rose 30.4%. Profit before tax of ₹24.64 crore is 234.7% higher than a year earlier.
Standalone tax expense of ₹7.49 crore is 30.4% of profit before tax. Other income of ₹1.11 crore is 4.5% of profit before tax, the same share as on a consolidated basis.
Segment revenue for the quarter was ₹218.38 crore for the speciality chemicals division and ₹85.83 crore for the pharma division. The notes say the pharma business has been identified as an additional reportable segment from Q4 of FY 2025-26, and that comparative segment information was compiled by management on a similar basis.
Consolidated net profit of ₹17.30 crore is ₹0.15 crore higher than standalone. Consolidated net profit rose 205.5% YoY, slightly slower than standalone's 206.5%. The notes say the Aarti Pharma conducting agreement with a related party has operated from 15 May 2025, and that Dhanvallabh Ventures LLP has been identified as a material subsidiary for FY 2026-27.
Inference
The filing sets out the company's results and notes, with no dividend stated for the period. The notes record stock option grants of 1,000, 19,500 and 18,000 options and two allotments of 15,000 equity shares each to employees under the 2022 plan.
The reason for the rise in revenue and profit against the year-earlier quarter is not stated, and the filing does not say what financial effect the Aarti Pharma agreement will have on results.
Filed with BSE on . Reference: Original filing (PDF)
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