Alicon’s profit rose 53.71% as the tax rate fell sharply
Revenue growth outpaced expenses slightly, but other income contributed 8.97% of pre-tax profit and operating margin remains below the sector median.
Filed 12 Nov 2026, 16:20 IST · after market close · Alicon Castalloy Ltd (ALICON)
Key takeaways
- Consolidated revenue grew +12.43% sequentially while expenses rose +12.01%, lifting operating margin by 0.34 percentage points to 9.72%.
- Net profit increased +53.71% sequentially as the tax rate fell 11.06 percentage points to 26.26%.
- Alicon’s 9.72% operating margin was 1.51 percentage points below the 11.23% median for 329 Consumer Discretionary peers that reported.
Price around the results
Revenue growth narrowly outpaced costs
Consolidated revenue rose +12.43% sequentially to Rs 649.84 cr, while expenses increased +12.01% to Rs 586.68 cr. The small cost advantage lifted operating profit +16.45% and expanded operating margin by 0.34 percentage points.
Lower tax rate amplified the profit increase
Profit before tax grew +30.72% sequentially, despite interest rising +11.08% and depreciation increasing +12.15%. Net profit grew faster at +53.71% because the tax rate fell to 26.26% from 37.32%. Other income was 8.97% of pre-tax profit, so reported profit also had a non-operating contribution.
Margin improved but stayed below peer median
Operating margin rose from 9.38% in Q1FY27 to 9.72% in Q2FY27, reversing the immediate sequential pressure visible in the prior quarter comparison. It was still 1.51 percentage points below the 11.23% median among 329 reported Consumer Discretionary peers.
Results were filed after market close
The consolidated results were filed at 16:20 IST on 12 November 2026, after market close. There is no reported market reaction to assess yet.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹650 cr | ₹578 cr | +12.43% |
| Other income | ₹2 cr | ₹1 cr | +101.89% |
| Expenses | ₹587 cr | ₹524 cr | +12.01% |
| Operating profit | ₹63 cr | ₹54 cr | +16.45% |
| Operating margin (%) | 9.72% | 9.38% | — |
| Interest | ₹11 cr | ₹10 cr | +11.08% |
| Depreciation | ₹30 cr | ₹27 cr | +12.15% |
| Profit before tax | ₹24 cr | ₹18 cr | +30.72% |
| Tax | ₹6 cr | ₹7 cr | -8.06% |
| Net profit | ₹18 cr | ₹11 cr | +53.71% |
| EPS (₹) | ₹10.78 | ₹7.02 | +53.56% |
Operating margin of 9.72% compares with a Consumer Discretionary sector median of 11.23% across 329 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 9.72% in the next reported quarter.
- Whether expenses continue to grow no faster than revenue after rising +12.01% versus revenue growth of +12.43%.
- Whether the tax rate remains close to 26.26% and other income stays below its 8.97% share of pre-tax profit.