BEPL's Q2 operating margin topped the six-peer sector median
Other income supported pre-tax profit, while minimal interest expense kept finance costs from weighing on earnings.
Filed 19 Oct 2026, 13:22 IST · Bhansali Engineering Polymers Ltd (BEPL)
Key takeaways
- BEPL's consolidated operating margin of 19.56% was 2.26 percentage points above the 17.30% median for six reported Commodities peers.
- Other income of Rs 10.04 cr contributed to Rs 86.86 cr of pre-tax profit, while interest expense was only Rs 0.04 cr.
- A 28.09% tax rate converted Rs 86.86 cr of consolidated pre-tax profit into Rs 62.46 cr of net profit.
Price around the results
Operating margin leads the reported peer set
BEPL's consolidated operating margin of 19.56% exceeded the 17.30% median for six Commodities companies that have reported the quarter. The 2.26-percentage-point gap gives the quarter a favourable profitability position within the available peer set. There is no sequential or year-on-year margin direction to assess here.
Other income and tax shaped profit conversion
Other income of Rs 10.04 cr contributed to the move from operating profit to pre-tax profit, so reported earnings include a non-operating component. Interest expense was only Rs 0.04 cr, limiting the effect of financing costs on the earnings bridge. The 28.09% tax rate remained the main deduction between pre-tax profit and consolidated net profit.
The next quarter will set the operating baseline
The key comparison ahead is whether operating margin remains above 19.56% and continues to exceed the 17.30% peer median. Investors can also separate operating performance from the Rs 10.04 cr other-income contribution and track whether the 28.09% tax rate changes the pace of profit conversion.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹403 cr |
| Other income | ₹10 cr |
| Expenses | ₹324 cr |
| Operating profit | ₹79 cr |
| Operating margin (%) | 19.56% |
| Interest | ₹0 cr |
| Depreciation | ₹2 cr |
| Profit before tax | ₹87 cr |
| Tax | ₹24 cr |
| Net profit | ₹62 cr |
| EPS (₹) | ₹2.51 |
Operating margin of 19.56% compares with a Commodities sector median of 17.30% across 6 peers that have reported Q2FY27.
What to watch
- Whether operating margin remains above 19.56% and the 17.30% peer median.
- Whether other income remains near Rs 10.04 cr or operating earnings contribute more of pre-tax profit.
- Whether the tax rate stays near 28.09%.