RPEL posts 30.03% operating margin, 18.3 points above peer median
Operating profit led consolidated earnings, while Rs 1.1 cr of other income made only a limited contribution to profit before tax.
Filed 16 Oct 2026, 15:07 IST · Raghav Productivity Enhancers Ltd (RPEL)
Key takeaways
- RPEL's 30.03% consolidated operating margin was 18.3 percentage points above the Industrials median for 14 reported peers.
- Operating profit of Rs 27.87 cr was the main earnings driver, while other income contributed Rs 1.1 cr.
- Consolidated net profit was Rs 21.63 cr after a 20.22% tax rate, with limited support from non-operating income.
Price around the results
Operations led the Q2FY27 earnings profile
RPEL's consolidated Q2FY27 performance was led by operations, with Rs 27.87 cr of operating profit on revenue of Rs 92.81 cr. The resulting 30.03% operating margin leaves the quarter less dependent on non-operating items. Other income of Rs 1.1 cr was small relative to profit before tax of Rs 27.12 cr.
Margin was well above the Industrials peer set
RPEL's 30.03% operating margin was 18.3 percentage points above the 11.73% median for the 14 Industrials peers that had reported. It ranked 14th from the bottom in that peer group, placing it at the top of the reported margin range. No sequential or year-on-year comparison is available in this quarter's release.
Tax and below-the-line costs did not outweigh operating profit
Interest expense was Rs 0.16 cr and depreciation was Rs 1.7 cr, leaving profit before tax at Rs 27.12 cr against operating profit of Rs 27.87 cr. Net profit of Rs 21.63 cr reflected a 20.22% tax rate, while other income remained a limited part of the earnings mix.
Q2FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹93 cr |
| Other income | ₹1 cr |
| Expenses | ₹65 cr |
| Operating profit | ₹28 cr |
| Operating margin (%) | 30.03% |
| Interest | ₹0 cr |
| Depreciation | ₹2 cr |
| Profit before tax | ₹27 cr |
| Tax | ₹5 cr |
| Net profit | ₹22 cr |
| EPS (₹) | ₹4.71 |
Operating margin of 30.03% compares with a Industrials sector median of 11.73% across 14 peers that have reported Q2FY27.
What to watch
- Whether consolidated operating margin holds above 30.03%.
- Whether operating profit remains the main earnings source, compared with Rs 27.87 cr versus Rs 1.1 cr of other income.
- Whether the tax rate moves materially from 20.22%.