Borosil margin expands 5.13 points as Q2 revenue jumps 45.83%
Revenue grew faster than expenses sequentially, while a lower tax rate added to profit growth and other income contributed only 4.08% of pre-tax profit.
Filed 29 Oct 2026, 17:05 IST · after market close · Borosil Ltd (BOROLTD)
Key takeaways
- Consolidated operating margin widened 5.13 percentage points QoQ to 18.72% as revenue growth of +45.83% outpaced expense growth of +37.16%.
- Net profit rose +149.30% QoQ despite interest increasing +100.00%, helped by higher operating profit and a 1.06 percentage-point fall in the tax rate.
- Borosil's operating margin was 5.98 percentage points above the 12.74% median for 107 reporting Consumer Discretionary peers.
Price around the results
Q2FY27 revenue growth delivered operating leverage
Borosil reported consolidated Q2FY27 results after market close, with revenue rising +45.83% QoQ while expenses increased +37.16%. That gap lifted operating profit by +100.99% and expanded operating margin by 5.13 percentage points from Q1FY27.
Lower tax rate supported profit; other income was limited
The tax rate fell by 1.06 percentage points to 25.52%, adding to the sequential increase in net profit. Interest expense doubled and depreciation rose +12.17%, but other income accounted for only 4.08% of pre-tax profit, so it was not the main source of the profit increase.
Margin remains above the Consumer Discretionary peer median
Borosil's 18.72% operating margin was 5.98 percentage points above the 12.74% median among 107 Consumer Discretionary peers that had reported. Sequentially, margin improved from 13.59% in Q1FY27, indicating a sharp step-up in the latest quarter.
Results were filed after market close
The consolidated results were filed at 17:05 IST on 29 October 2026, after market close. There is therefore no post-result stock 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 | ₹370 cr | ₹254 cr | +45.83% |
| Other income | ₹2 cr | ₹7 cr | -73.68% |
| Expenses | ₹301 cr | ₹219 cr | +37.16% |
| Operating profit | ₹69 cr | ₹34 cr | +100.99% |
| Operating margin (%) | 18.72% | 13.59% | — |
| Interest | ₹4 cr | ₹2 cr | +100.00% |
| Depreciation | ₹25 cr | ₹22 cr | +12.17% |
| Profit before tax | ₹43 cr | ₹17 cr | +145.70% |
| Tax | ₹11 cr | ₹5 cr | +136.07% |
| Net profit | ₹32 cr | ₹13 cr | +149.30% |
| EPS (₹) | ₹2.67 | ₹1.07 | +149.53% |
Operating margin of 18.72% 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 18.72%.
- Whether revenue growth remains ahead of expense growth after +45.83% versus +37.16% QoQ.
- Whether other income remains a limited contributor after accounting for 4.08% of pre-tax profit.