Calcom Vision Q2 FY27 Profit Rises 10% to ₹2.2 Crore YoY

Calcom Vision Ltd reported consolidated Q2 FY27 net profit of ₹2.2 crore, up 10.0% year-on-year, as revenue from operations rose 39.7% to ₹72.5 crore for the quarter ended September 30, 2026. The result matters because the strong topline increase included a ₹6 crore production-linked incentive, while operating margin declined from the previous year.

What did Calcom Vision report for Q2 FY27?

Calcom Vision reported consolidated revenue from operations of ₹72.5 crore in Q2 FY27, compared with ₹51.9 crore in Q2 FY26 and ₹60.1 crore in Q1 FY27. Total income stood at ₹72.6 crore, including other income of ₹0.2 crore. Consolidated net profit was ₹2.2 crore, against ₹2.0 crore a year earlier and ₹0.1 crore in the preceding quarter.

On a standalone basis, revenue from operations rose 39% year-on-year to ₹72.3 crore from ₹51.9 crore. Standalone profit after tax was ₹2.2 crore, compared with ₹2.1 crore in Q2 FY26. Standalone earnings per share increased to ₹1.57 from ₹1.50 a year earlier.

The board approved the unaudited financial results for the quarter and half year ended September 30, 2026, at its meeting on November 14, 2026. The company operates in the electronics and appliances segment and is classified as a micro-cap company in the supplied market data.

How did Calcom Vision's quarterly revenue and profit change?

Calcom Vision's consolidated revenue grew faster than profit in Q2 FY27. Revenue from operations increased by ₹20.6 crore from a year earlier, while consolidated net profit increased by ₹0.2 crore. Profit before tax rose to ₹2.8 crore from ₹2.7 crore in Q2 FY26.

Sequentially, revenue from operations increased from ₹60.1 crore in Q1 FY27 to ₹72.5 crore in Q2 FY27. Consolidated profit before tax rose from ₹0.5 crore in the first quarter to ₹2.8 crore. The comparable consolidated net-profit figure was ₹0.1 crore in Q1 FY27.

Why did Calcom Vision's Q2 revenue increase?

Calcom Vision recognised a ₹6 crore production-linked incentive, or PLI, in Q2 FY27 under other operating revenue. The company also reclassified earlier-period comparative PLI figures of ₹1.8 crore. This accounting treatment is relevant when comparing the reported revenue growth with underlying sales figures disclosed earlier by the company.

In an October 2026 business update, Calcom Vision had reported Q2 FY27 sales revenue of ₹66.30 crore, up 32.42% from ₹50.07 crore in Q2 FY26. It had also reported first-half sales of ₹126.63 crore, comprising ₹60.33 crore in Q1 FY27 and ₹66.30 crore in Q2 FY27. The subsequently reported standalone Q2 revenue of ₹72.3 crore includes the PLI recognition.

The company had described the ₹66.30 crore sales figure as its highest-ever second-quarter sales performance. However, the financial results show that profitability did not rise at the same pace as reported revenue, with the operating margin at 3.9%, below 5.2% a year earlier.

What do the half-year results and auditor observation show?

Calcom Vision's standalone revenue from operations for H1 FY27 was ₹132.6 crore, compared with ₹96.9 crore in H1 FY26. But standalone profit after tax declined 5% to about ₹2.7 crore from ₹2.8 crore. Consolidated total profit for the first half was ₹2.3 crore, against ₹2.6 crore in the corresponding period of the prior year.

The standalone Q2 finance cost was ₹1.7 crore. This is a material cost line in a quarter where standalone profit before tax was ₹2.9 crore and profit after tax was ₹2.2 crore. The reported figures indicate that higher revenue did not translate proportionately into half-year profit growth.

The auditor included an Emphasis of Matter on Calcom Vision's ₹2.39 crore exposure to Calcom Taehwa Techno, a loss-making 50% joint venture. The exposure comprised ₹1 crore of equity investment and a ₹1.39 crore loan. No impairment was made against this exposure, according to the supplied results summary. The auditor's conclusion was not modified, and the review was a limited review rather than a full audit.

How does the result affect Calcom Vision investors?

For investors, the key consideration is the composition of the revenue increase. The ₹6 crore PLI recognised in operating revenue supported reported Q2 revenue, while the operating margin narrowed by 1.3 percentage points year-on-year. Investors assessing recurring operating performance may therefore distinguish the reported revenue figure from the separately disclosed sales update of ₹66.30 crore.

The results also highlight the difference between quarterly and half-year profitability. Q2 standalone profit after tax increased to ₹2.2 crore, but H1 standalone profit after tax was lower year-on-year at about ₹2.7 crore. The joint-venture exposure flagged by the auditor remains an identified balance-sheet matter, although the limited-review conclusion was unmodified.

The supplied market information listed Calcom Vision's share price at ₹83.00. No share-price movement following the November 14 results announcement was provided, so the immediate market reaction cannot be established from the available information.

Conclusion

Calcom Vision delivered strong reported Q2 FY27 revenue growth, with consolidated revenue rising 39.7% to ₹72.5 crore and net profit increasing 10.0% to ₹2.2 crore. The results also show a lower operating margin, a meaningful contribution from the ₹6 crore PLI recognition, and weaker year-on-year half-year profit.

Investors will watch the company's next financial disclosures for the trajectory of revenue excluding incentives, operating-margin movement, finance costs and the status of the ₹2.39 crore exposure to Calcom Taehwa Techno. The available disclosures do not state a future target or timetable for resolving the joint-venture matter.