Commodities · Q2FY27 · Standalone

Alkyl Amines margin drops 5.40 points as costs outpace revenue

Standalone net profit fell 31.13% QoQ, while other income contributed 11.95% of pre-tax profit.

By Ashutosh

Filed 03 Nov 2026, 13:16 IST · Alkyl Amines Chemicals Ltd (ALKYLAMINE)

Key takeaways

  • Standalone operating margin fell 5.40 percentage points QoQ to 19.90% as revenue declined 7.02% while expenses fell only 0.29%.
  • Standalone net profit dropped 31.13% QoQ to Rs 65.17 cr, with the tax rate rising 3.56 percentage points to 27.66%.
  • Operating margin remained 5.72 percentage points above the 14.18% median for 92 reported Commodities peers.

Price around the results

Revenue decline translated into a steeper profit drop

Standalone revenue fell 7.02% QoQ to Rs 490.95 cr, but operating profit declined 26.88% to Rs 97.69 cr. The sharper profit decline reflects operating costs falling only 0.29%, leaving less revenue to absorb the cost base.

Tax and other income shaped reported profit

The tax rate rose 3.56 percentage points QoQ to 27.66%, adding to the pressure on net profit. Other income increased 15.81% and accounted for 11.95% of pre-tax profit, so reported earnings included a meaningful non-operating contribution. Interest also rose 12.82%, although it remained at Rs 0.44 cr.

Margin remains above the sector median, but fell sharply from Q1

The 19.90% standalone operating margin was 5.72 percentage points above the 14.18% median among 92 Commodities peers that had reported the quarter. It was nevertheless down from 25.30% in Q1FY27, marking a sharp sequential deterioration in operating performance.

Q2FY27 at a glance

Standalone figures as filed with NSE — cross-checked against an independent source.

Line itemQ2FY27Q1FY27QoQ
Revenue₹491 cr₹528 cr-7.02%
Other income₹11 cr₹9 cr+15.81%
Expenses₹393 cr₹394 cr-0.29%
Operating profit₹98 cr₹134 cr-26.88%
Operating margin (%)19.90%25.30%—
Interest₹0 cr₹0 cr+12.82%
Depreciation₹18 cr₹18 cr+0.50%
Profit before tax₹90 cr₹125 cr-27.74%
Tax₹25 cr₹30 cr-17.04%
Net profit₹65 cr₹95 cr-31.13%
EPS (₹)₹12.74₹18.50-31.14%

Operating margin of 19.90% compares with a Commodities sector median of 14.18% across 92 peers that have reported Q2FY27.

What to watch

  • Whether standalone operating margin holds above 19.90% after the 5.40-point QoQ fall.
  • Whether expenses continue to decline more slowly than revenue, after -0.29% versus -7.02% QoQ.
  • Whether the tax rate moves down from 27.66% and other income's contribution falls from 11.95% of pre-tax profit.