Nahar Polyfilms’ operating margin expands 5.85 percentage points QoQ
Revenue grew faster than expenses, while a lower tax rate amplified the 181.51% rise in consolidated net profit.
Filed 30 Oct 2026, 17:53 IST · after market close · Nahar Polyfilms Ltd (NAHARPOLY)
Key takeaways
- Revenue grew 61.91% quarter on quarter while expenses rose 51.44%, lifting operating margin by 5.85 percentage points.
- Net profit increased 181.51% sequentially, but other income contributed 23.4% of profit before tax.
- The consolidated operating margin of 15.33% was 2.90 percentage points above the 12.43% median for 75 Industrials peers.
Price around the results
Q2 rebound was led by operating profit
Nahar Polyfilms reported consolidated revenue growth of 61.91% quarter on quarter in Q2FY27, while operating profit rose 161.87%. The faster increase in operating profit reflects revenue growth outpacing expense growth, with net profit consequently up 181.51% sequentially. The results were filed after market close on 30 October 2026.
Margin improved, but profit quality needs watching
Operating margin expanded by 5.85 percentage points to 15.33% because expenses grew 51.44%, below the 61.91% increase in revenue. Interest rose 3.11% and depreciation rose 2.22%, so neither was the main source of the margin improvement. Other income accounted for 23.4% of profit before tax, while the tax rate fell 9.41 percentage points to 15.38%, both supporting reported net profit.
Margin moved above the Industrials peer median
Nahar Polyfilms' 15.33% operating margin was 2.90 percentage points above the 12.43% median among 75 Industrials companies that had reported the quarter. Against Q1FY27, the quarter marks a sharp margin recovery from 9.48%, rather than a result that can yet establish a longer multi-quarter direction.
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 | ₹259 cr | ₹160 cr | +61.91% |
| Other income | ₹9 cr | ₹10 cr | -9.91% |
| Expenses | ₹219 cr | ₹145 cr | +51.44% |
| Operating profit | ₹40 cr | ₹15 cr | +161.87% |
| Operating margin (%) | 15.33% | 9.48% | — |
| Interest | ₹2 cr | ₹2 cr | +3.11% |
| Depreciation | ₹8 cr | ₹8 cr | +2.22% |
| Profit before tax | ₹39 cr | ₹16 cr | +150.16% |
| Tax | ₹6 cr | ₹4 cr | +55.06% |
| Net profit | ₹33 cr | ₹12 cr | +181.51% |
| EPS (₹) | ₹13.37 | ₹4.75 | +181.47% |
Operating margin of 15.33% compares with a Industrials sector median of 12.43% across 75 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 15.33% after the Q2 expansion.
- Whether other income remains a material contributor relative to its 23.4% share of profit before tax.
- Whether the tax rate stays near 15.38% after falling 9.41 percentage points sequentially.