Consumer Discretionary · Q2FY27 · Consolidated

Expenses outpace revenue growth, squeezing Uniparts’ Q2 profit

Consolidated revenue grew 8.96% qoq, but margin fell 1.56 percentage points and net profit declined 3.85% as tax and interest costs rose.

By Ashutosh

Filed 04 Nov 2026, 19:23 IST · after market close · Uniparts India Ltd (UNIPARTS)

Key takeaways

  • Consolidated revenue grew 8.96% quarter on quarter, but expenses rose faster at 11.19%, narrowing operating margin by 1.56 percentage points.
  • Net profit declined 3.85% sequentially as the tax rate rose 1.24 percentage points and interest costs increased 12.90%.
  • Uniparts' 22.04% operating margin was 10.13 percentage points above the 11.91% median for 223 reported Consumer Discretionary peers.

Price around the results

Revenue growth did not translate into profit growth

On a consolidated basis, revenue grew 8.96% quarter on quarter, but operating profit rose only 1.76% as expenses increased 11.19%. The cost mismatch pushed net profit down 3.85% and EPS down 3.91% sequentially, despite higher operating profit.

Faster cost growth narrowed the operating margin

Expenses grew faster than revenue, reducing operating margin by 1.56 percentage points to 22.04%. Other income fell 33.50% and contributed 7.14% of profit before tax, while the tax rate rose 1.24 percentage points and interest costs increased 12.90%.

Margin remains well above the sector median

Uniparts' consolidated operating margin was 10.13 percentage points above the 11.91% median among 223 Consumer Discretionary companies that have reported the quarter. That peer advantage coexisted with a sequential margin contraction, making cost growth the key change this quarter.

Results were filed after market close

The company filed its consolidated Q2FY27 results after market close on 04 November 2026. The stock's immediate response is therefore not covered here.

Q2FY27 at a glance

Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.

Line itemQ2FY27Q1FY27QoQ
Revenue₹379 cr₹347 cr+8.96%
Other income₹5 cr₹8 cr-33.50%
Expenses₹295 cr₹265 cr+11.19%
Operating profit₹83 cr₹82 cr+1.76%
Operating margin (%)22.04%23.60%—
Interest₹4 cr₹3 cr+12.90%
Depreciation₹12 cr₹12 cr+0.59%
Profit before tax₹73 cr₹75 cr-2.27%
Tax₹18 cr₹18 cr+2.79%
Net profit₹54 cr₹57 cr-3.85%
EPS (₹)₹12.05₹12.54-3.91%

Operating margin of 22.04% compares with a Consumer Discretionary sector median of 11.91% across 223 peers that have reported Q2FY27.

What to watch

  • Whether operating margin recovers from 22.04% after the 1.56 percentage-point sequential decline.
  • Whether expenses continue to grow faster than revenue, after rising 11.19% versus revenue growth of 8.96%.
  • Whether the tax rate moves back from 25.31% after rising 1.24 percentage points sequentially.