Standalone Q2 profit was shaped by Rs 9.25 cr interest expense
Operating margin was 17.13%, while Rs 1.20 cr of other income made only a limited contribution to reported earnings.
Filed 21 Oct 2026, 15:39 IST · after market close · SWASTIKAIN (SWASTIKAIN)
Key takeaways
- Standalone revenue rose +251.79% QoQ to Rs 206.64 cr, while expenses grew +243.58%, lifting operating margin by 1.98 percentage points to 17.13%.
- Standalone net profit increased +455.28% QoQ to Rs 19.99 cr, helped by a 1.37 percentage-point fall in the tax rate, even as interest expense rose +114.62%.
- Other income contributed 4.47% of standalone profit before tax, indicating that the quarter's earnings were mainly operating-led.
Revenue growth translated into a sharp profit increase
SWASTIKAIN's standalone revenue increased +251.79% QoQ, while net profit rose +455.28% to Rs 19.99 cr. The stronger profit growth reflects operating leverage from the higher revenue base, alongside the lower tax rate.
Margin improved, but finance costs rose quickly
Expenses grew +243.58%, slower than revenue, which lifted operating margin by 1.98 percentage points to 17.13%. Interest expense increased +114.62% to Rs 9.25 cr and offset part of the operating improvement. Other income was 4.47% of profit before tax, so it was not the main source of earnings.
Results were filed after market close
The standalone results were filed at 15:39 IST on 21 October 2026, after market close. The stock's post-results reaction is therefore not yet part of this update.
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 | ₹207 cr | ₹59 cr | +251.79% |
| Other income | ₹1 cr | ₹1 cr | +106.90% |
| Expenses | ₹171 cr | ₹50 cr | +243.58% |
| Operating profit | ₹35 cr | ₹9 cr | +297.64% |
| Operating margin (%) | 17.13% | 15.15% | — |
| Interest | ₹9 cr | ₹4 cr | +114.62% |
| Depreciation | ₹1 cr | ₹0 cr | +108.33% |
| Profit before tax | ₹27 cr | ₹5 cr | +444.62% |
| Tax | ₹7 cr | ₹1 cr | +415.79% |
| Net profit | ₹20 cr | ₹4 cr | +455.28% |
| EPS (₹) | ₹7.34 | ₹1.33 | +451.88% |
What to watch
- Whether operating margin holds above 17.13% after the 1.98 percentage-point sequential improvement.
- Whether interest expense moderates from its +114.62% QoQ increase.
- Whether revenue remains above Rs 206.64 cr in the next reported quarter.