Revenue rose 25.39%, but profit grew only 1.87% sequentially
Costs grew faster than revenue, while a higher tax rate and lower other income limited the earnings benefit from stronger sales.
Filed 13 Nov 2026, 19:54 IST · after market close · Shree Tirupati Balajee Agro Trading Co. Ltd (BALAJEE)
Key takeaways
- Consolidated revenue grew +25.39% sequentially, but net profit rose only +1.87% to Rs 3.82 cr.
- Expenses grew +26.59%, narrowing operating margin by 0.88 percentage points to 6.67%.
- Operating margin was 4.79 percentage points below the Industrials median across 267 reported peers.
Price around the results
Sales growth did not reach earnings
The consolidated company increased revenue by +25.39% sequentially, but net profit grew only +1.87% to Rs 3.82 cr. Operating profit rose +10.83%, showing that much of the sales increase was absorbed before reaching profit after tax. EPS fell -2.44% to Rs 0.40.
Faster costs narrowed the operating margin
Expenses grew +26.59%, ahead of the +25.39% revenue increase, narrowing operating margin by 0.88 percentage points. Other income fell -35.92% and still represented 16.98% of pre-tax profit, so reported earnings included a meaningful non-operating contribution. The tax rate increased by 2.93 percentage points to 28.60%, adding further pressure below operating profit.
Margin remained below the Industrials peer median
The 6.67% operating margin was 4.79 percentage points below the 11.46% median for 267 Industrials companies that had reported the same quarter. The available quarterly trend shows margin moving from 7.55% in Q1FY27 to 6.67% in Q2FY27, rather than continuing the sequential improvement in sales.
Results were filed after market close
The consolidated results were filed on 13 Nov 2026 at 19:54 IST, after market close. The filing is therefore too fresh for a reported stock reaction.
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 | ₹175 cr | ₹140 cr | +25.39% |
| Other income | ₹1 cr | ₹1 cr | -35.92% |
| Expenses | ₹163 cr | ₹129 cr | +26.59% |
| Operating profit | ₹12 cr | ₹11 cr | +10.83% |
| Operating margin (%) | 6.67% | 7.55% | — |
| Interest | ₹5 cr | ₹5 cr | +2.52% |
| Depreciation | ₹2 cr | ₹2 cr | +9.60% |
| Profit before tax | ₹5 cr | ₹5 cr | +6.35% |
| Tax | ₹2 cr | ₹1 cr | +18.60% |
| Net profit | ₹4 cr | ₹4 cr | +1.87% |
| EPS (₹) | ₹0.40 | ₹0.41 | -2.44% |
Operating margin of 6.67% compares with a Industrials sector median of 11.46% across 267 peers that have reported Q2FY27.
What to watch
- Whether operating margin moves back from 6.67% after the 0.88 percentage-point sequential decline.
- Whether expense growth stays below or above the current +25.39% revenue growth rate.
- Whether the tax rate moves from 28.60% and other income's 16.98% share of pre-tax profit changes.