Revenue jumps 45.23% QoQ, but faster costs cut margin by 6.45 points
Net profit rose 11.13% as other income contributed only 0.72% of pre-tax profit; the results were filed after market close.
Filed 04 Nov 2026, 20:09 IST · after market close · Suratwwala Business Group Ltd (SBGLP)
Key takeaways
- Consolidated revenue rose 45.23% QoQ to Rs 61.17 cr, but expenses grew 59.01%, pulling operating margin down 6.45 percentage points to 25.43%.
- Net profit increased 11.13% QoQ to Rs 10.38 cr despite interest expense rising 33.33%.
- Operating margin was 13.52 percentage points above the 11.91% median for 223 Consumer Discretionary peers that had reported.
Price around the results
Growth lifted profit, but below operating profit
Revenue growth translated into a 15.86% QoQ increase in operating profit, but higher interest and depreciation limited pre-tax profit growth to 10.43%. Interest expense rose 33.33% and depreciation increased 15.38%, while net profit still grew 11.13%.
Costs grew faster than revenue in Q2FY27
Expenses increased 59.01% QoQ against 45.23% revenue growth, resulting in a 6.45 percentage-point contraction in operating margin. The tax rate fell by 0.47 percentage points to 25.75%, providing a modest lift to net profit. Other income made up only 0.72% of pre-tax profit, so earnings quality was not dependent on non-operating income.
Margin remains above the peer median but is trending lower
Operating margin has moved down across the reported trend points, from 43.76% in Q1FY26 to 31.88% in Q1FY27 and 25.43% in Q2FY27. Even after the sequential decline, the margin was 13.52 percentage points above the 11.91% median for 223 reported Consumer Discretionary peers.
Results were filed after market close
The consolidated results were filed after market close on 4 November 2026. There is no post-results market reaction to assess yet.
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 | ₹61 cr | ₹42 cr | +45.23% |
| Other income | ₹0 cr | ₹1 cr | -82.46% |
| Expenses | ₹46 cr | ₹29 cr | +59.01% |
| Operating profit | ₹16 cr | ₹13 cr | +15.86% |
| Operating margin (%) | 25.43% | 31.88% | — |
| Interest | ₹1 cr | ₹1 cr | +33.33% |
| Depreciation | ₹1 cr | ₹1 cr | +15.38% |
| Profit before tax | ₹14 cr | ₹13 cr | +10.43% |
| Tax | ₹4 cr | ₹3 cr | +8.43% |
| Net profit | ₹10 cr | ₹9 cr | +11.13% |
| EPS (₹) | ₹0.59 | ₹0.53 | +11.32% |
Operating margin of 25.43% compares with a Consumer Discretionary sector median of 11.91% across 223 peers that have reported Q2FY27.
What to watch
- Whether operating margin holds above 25.43% after the 6.45 percentage-point QoQ decline.
- Whether expense growth moderates from 59.01% QoQ.
- Whether interest expense moves below or above Rs 0.92 cr in the next reported quarter.