Revenue surge lifts NBI Industrial Finance's standalone margin to 91.79%
Revenue grew far faster than expenses sequentially, while the lower tax rate provided a modest additional lift to profit.
Filed 05 Nov 2026, 12:20 IST · NBI Industrial Finance Company Ltd (NBIFIN)
Key takeaways
- Standalone operating margin widened 22.84 percentage points sequentially as revenue grew +325.81% while expenses rose only +13.43%.
- Standalone net profit increased +463.06% sequentially, with the tax rate easing by 0.76 percentage points to 26.21%.
- NBI Industrial Finance's 91.79% operating margin was 36.00 percentage points above the 55.79% median for 100 reported Financial Services peers.
Price around the results
Revenue growth created sharp operating leverage
On a standalone basis, revenue increased +325.81% sequentially, while operating profit rose +465.33%. The much faster revenue growth than expense growth expanded operating margin by 22.84 percentage points, from 68.95% in Q1FY27 to 91.79% in Q2FY27.
Profit quality was not supported by other income
Other income contributed 0.00% of profit before tax, so the quarter's profit increase was not driven by that line. The tax rate fell 0.76 percentage points to 26.21%, providing a modest additional benefit to net profit.
Margin stood well above the reported peer median
NBI Industrial Finance's 91.79% operating margin was 36.00 percentage points above the 55.79% median among 100 Financial Services peers that had reported the quarter. Sequentially, this was a sharp improvement from 68.95%, although the available trend covers only the preceding quarter.
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 | ₹9 cr | ₹2 cr | +325.81% |
| Other income | ₹0 cr | ₹0 cr | -100.00% |
| Expenses | ₹1 cr | ₹1 cr | +13.43% |
| Operating profit | ₹8 cr | ₹2 cr | +465.33% |
| Operating margin (%) | 91.79% | 68.95% | — |
| Interest | ₹0 cr | ₹0 cr | — |
| Depreciation | ₹0 cr | ₹0 cr | — |
| Profit before tax | ₹8 cr | ₹2 cr | +457.89% |
| Tax | ₹2 cr | ₹0 cr | +441.46% |
| Net profit | ₹6 cr | ₹1 cr | +463.06% |
| EPS (₹) | ₹21.16 | ₹3.75 | +464.27% |
Operating margin of 91.79% compares with a Financial Services sector median of 55.79% across 100 peers that have reported Q2FY27.
How the stock reacted
| Window | Stock | vs NIFTY |
|---|---|---|
| Results day | -0.40% | -2.41% |
Volume on the results session was 0.47× its 20-day average.
What to watch
- Whether standalone operating margin holds above 91.79%.
- Whether revenue growth remains materially ahead of the +13.43% sequential expense growth rate.
- Whether the tax rate stays near 26.21% without support from other income.