Revenue rose 41.06%, but profit fell as other income dropped
The standalone operating margin recovered from -10.38% to 0.36%, but higher tax and lower other income reduced net profit.
Filed 06 Nov 2026, 18:01 IST · after market close · Hindprakash Industries Ltd (HPIL)
Key takeaways
- Standalone operating margin recovered 10.74 percentage points QoQ to 0.36%, but remained 12.47 percentage points below the Commodities peer median.
- Revenue rose 41.06% QoQ while expenses grew 27.34%, yet net profit fell 60.47% as other income declined 65.13%.
- Other income was 345.65% of pre-tax profit, leaving the Rs 0.34 cr net profit reliant on a large non-operating contribution.
Price around the results
Revenue rebounded, but earnings weakened
Hindprakash Industries reported standalone revenue growth of +41.06% QoQ, while expenses rose +27.34%. That brought operating profit back to Rs 0.13 cr from a Rs 2.76 cr loss in Q1FY27, but profit before tax fell 28.12% and net profit declined 60.47% to Rs 0.34 cr.
Operating margin recovered but still trails peers
Revenue grew faster than expenses, lifting operating margin by 10.74 percentage points from -10.38% to 0.36%. Interest expense still rose +8.49% QoQ to Rs 1.15 cr, limiting the benefit of the operating recovery. Among 137 Commodities companies that have reported, HPIL's margin was 12.47 percentage points below the 12.83% sector median and ranked ninth from the bottom.
Other income drove profit quality concerns
Other income fell 65.13% QoQ to Rs 1.59 cr, but still equalled 345.65% of pre-tax profit because interest and other charges absorbed much of operating earnings. The tax rate moved from -34.35% in Q1FY27 to 26.85%, a 61.20-percentage-point increase that also reduced the conversion of pre-tax profit into net profit.
Results were filed after market close
The standalone results were filed at 18:01 IST after market close. There is no market reaction to assess yet.
Q2FY27 at a glance
Standalone figures as filed with NSE — cross-checked against an independent source.
| Line item | Q2FY27 | Q1FY27 | QoQ |
|---|---|---|---|
| Revenue | ₹37 cr | ₹27 cr | +41.06% |
| Other income | ₹2 cr | ₹5 cr | -65.13% |
| Expenses | ₹37 cr | ₹29 cr | +27.34% |
| Operating profit | ₹0 cr | ₹-3 cr | — |
| Operating margin (%) | 0.36% | -10.38% | — |
| Interest | ₹1 cr | ₹1 cr | +8.49% |
| Depreciation | ₹0 cr | ₹0 cr | +0.00% |
| Profit before tax | ₹0 cr | ₹1 cr | -28.12% |
| Tax | ₹0 cr | ₹-0 cr | — |
| Net profit | ₹0 cr | ₹1 cr | -60.47% |
| EPS (₹) | ₹0.30 | ₹0.75 | -60.00% |
Operating margin of 0.36% compares with a Commodities sector median of 12.83% across 137 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 0.36% in the next quarter.
- Whether other income's 345.65% share of pre-tax profit declines.
- Whether interest expense growth reverses from +8.49% QoQ.