Revenue grew 28.59% QoQ as operating margin expanded 2.11 points
The sequential margin gain came as revenue growth outpaced expense growth, but higher tax and interest limited profit conversion.
Filed 29 Oct 2026, 19:39 IST · after market close · AYM Syntex Ltd (AYMSYNTEX)
Key takeaways
- Consolidated revenue rose 28.59% QoQ to Rs 451.38 cr, while expenses grew 25.61%.
- Operating margin expanded 2.11 percentage points QoQ to 11.06%, as operating profit grew 58.89%.
- Net profit rose 72.78% QoQ to Rs 14.98 cr despite a 12.09 percentage-point increase in the tax rate and negative other income of Rs 6.33 cr.
Price around the results
Revenue growth outpaced expenses in Q2FY27
AYM Syntex’s consolidated revenue increased 28.59% QoQ to Rs 451.38 cr, while expenses rose 25.61% to Rs 401.44 cr. That operating leverage lifted operating profit by 58.89% to Rs 49.94 cr. The improvement was sequential; no year-on-year comparison is available.
Margin improved, but stayed below the sector median
Operating margin widened by 2.11 percentage points to 11.06% because revenue grew faster than expenses. The margin was still 1.68 percentage points below the 12.74% median among 107 Consumer Discretionary peers that had reported the quarter. Interest expense rose 12.93% QoQ, while depreciation increased 2.41%.
Higher tax and negative other income weighed on profit quality
Profit before tax nearly doubled sequentially, rising 99.37% to Rs 19.08 cr, while net profit grew 72.78% to Rs 14.98 cr. The tax rate increased 12.09 percentage points to 21.49%, so tax did not flatter the profit increase. Other income was negative at Rs 6.33 cr and represented -33.18% of profit before tax, making reported profit more dependent on operating performance; the consolidated results were filed after market close on 29 October 2026.
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 | ₹451 cr | ₹351 cr | +28.59% |
| Other income | ₹-6 cr | ₹1 cr | — |
| Expenses | ₹401 cr | ₹320 cr | +25.61% |
| Operating profit | ₹50 cr | ₹31 cr | +58.89% |
| Operating margin (%) | 11.06% | 8.95% | — |
| Interest | ₹9 cr | ₹8 cr | +12.93% |
| Depreciation | ₹15 cr | ₹15 cr | +2.41% |
| Profit before tax | ₹19 cr | ₹10 cr | +99.37% |
| Tax | ₹4 cr | ₹1 cr | +355.56% |
| Net profit | ₹15 cr | ₹9 cr | +72.78% |
| EPS (₹) | ₹2.55 | ₹1.48 | +72.30% |
Operating margin of 11.06% compares with a Consumer Discretionary sector median of 12.74% across 107 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 11.06% after the Q2FY27 expansion.
- Whether the tax rate remains near or below 21.49%.
- Whether other income recovers from negative Rs 6.33 cr without becoming a material profit driver.