Revenue more than doubled, but operating margin fell to 1.58%
Expenses grew faster than revenue, while lower interest, higher other income and a tax credit lifted standalone net profit sequentially.
Filed 02 Nov 2026, 17:39 IST · after market close · CLCIND (CLCIND)
Key takeaways
- Standalone revenue rose +122.72% sequentially to Rs 67.75 cr, but expenses rose faster at +128.87%.
- The cost gap narrowed operating margin by 2.66 percentage points to 1.58%.
- Net profit rose +77.08% to Rs 0.85 cr, helped by other income equal to 198.78% of pre-tax profit and a -3.79% tax rate.
Revenue growth did not translate into operating profit
CLCIND reported standalone Q2FY27 revenue growth of +122.72% sequentially, but operating profit declined -17.05% to Rs 1.07 cr. Net profit still rose +77.08% to Rs 0.85 cr as interest fell -22.31% and other income increased +18.98%.
Faster expense growth compressed the operating margin
Expenses grew +128.87%, faster than the +122.72% increase in revenue, cutting operating margin by 2.66 percentage points. Other income was 198.78% of pre-tax profit, while the -3.79% tax rate reflected a tax credit, making reported net profit less dependent on operating earnings.
Sequential margin direction was weaker despite higher net profit
Compared with Q1FY27, the available sequential trend shows operating margin falling from 4.24% to 1.58%, even as pre-tax profit rose +70.83%. The results were filed after market close on 02 Nov 2026, so no market reaction is covered.
Q2FY27 at a glance
Standalone figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹68 cr | ₹30 cr | +122.72% |
| Other income | ₹2 cr | ₹1 cr | +18.98% |
| Expenses | ₹67 cr | ₹29 cr | +128.87% |
| Operating profit | ₹1 cr | ₹1 cr | -17.05% |
| Operating margin (%) | 1.58% | 4.24% | — |
| Interest | ₹1 cr | ₹1 cr | -22.31% |
| Depreciation | ₹1 cr | ₹1 cr | -2.25% |
| Profit before tax | ₹1 cr | ₹0 cr | +70.83% |
| Tax | ₹-0 cr | ₹0 cr | — |
| Net profit | ₹1 cr | ₹0 cr | +77.08% |
| EPS (₹) | ₹0.81 | ₹0.46 | +76.09% |
What to watch
- Whether operating margin is above or below 1.58% next quarter.
- Whether expense growth remains faster than revenue growth after +128.87% versus +122.72% in Q2FY27.
- Whether other income continues to exceed pre-tax profit after accounting for 198.78% of it this quarter.