Vishnu Chemicals' Q2 operating margin trails commodity peer median
Operating earnings were supplemented by Rs 9.57 cr of other income, while interest and depreciation reduced the conversion from operating profit to pre-tax profit.
Filed 31 Oct 2026, 17:51 IST · after market close · Vishnu Chemicals Ltd (VISHNU)
Key takeaways
- Vishnu Chemicals reported consolidated operating margin of 14.91%, 0.32 percentage points below the 15.23% median for 57 reporting commodity peers.
- Reported profit before tax included Rs 9.57 cr of other income alongside Rs 13.81 cr of interest expense and Rs 11.28 cr of depreciation.
- The company reported consolidated net profit of Rs 35.57 cr and EPS of Rs 5.28 for Q2FY27.
Price around the results
Q2 earnings included a sizeable non-operating contribution
Vishnu Chemicals reported consolidated operating profit of Rs 64.02 cr, but profit before tax was Rs 48.49 cr after Rs 13.81 cr of interest and Rs 11.28 cr of depreciation. Other income of Rs 9.57 cr formed part of the reported pre-tax result, so earnings were not generated solely by operations. Tax at 26.66% resulted in net profit of Rs 35.57 cr.
Operating margin sits below the commodity peer median
The company's 14.91% operating margin was 0.32 percentage points below the 15.23% median among 57 commodity-sector peers that had reported the same quarter. Vishnu Chemicals ranked 29th from the bottom in that comparison. With no sequential or year-on-year driver disclosed here, the key read-through is the company's relative position within the reporting peer set.
The stock had no immediate results reaction
The results were filed after market close on 31 October 2026, so there was no market reaction to assess at the time of this report. The next session will provide the first observable response to the quarter's margin position and earnings mix.
Q2FY27 at a glance
Consolidated figures as filed with NSE — cross-checked against an independent source.
| Line item | Q2FY27 |
|---|---|
| Revenue | ₹430 cr |
| Other income | ₹10 cr |
| Expenses | ₹366 cr |
| Operating profit | ₹64 cr |
| Operating margin (%) | 14.91% |
| Interest | ₹14 cr |
| Depreciation | ₹11 cr |
| Profit before tax | ₹48 cr |
| Tax | ₹13 cr |
| Net profit | ₹36 cr |
| EPS (₹) | ₹5.28 |
Operating margin of 14.91% compares with a Commodities sector median of 15.23% across 57 peers that have reported Q2FY27.
What to watch
- Whether operating margin moves above or below 14.91% in the next reported quarter.
- Whether other income remains at Rs 9.57 cr or becomes a smaller part of reported earnings.
- Whether interest expense stays around Rs 13.81 cr as profit is converted from operating profit to pre-tax profit.