GRP Q2 FY27 Results Show 220% Net Profit Growth YoY

GRP Ltd reported a sharp improvement in consolidated profitability for the quarter ended September 2026. The company posted revenue from operations of ₹172.3 crore in Q2 FY27, up 30.1% from the year-earlier quarter. Net profit rose to ₹6.4 crore, compared with ₹2.0 crore in Q2 FY26. The reported year-on-year increase in net profit was 220.0%.

Key Q2 FY27 Numbers

Total income stood at ₹172.7 crore during the quarter, including other income of ₹0.4 crore. Profit before exceptional items and tax was ₹8.9 crore, compared with ₹3.3 crore a year earlier. Profit before tax was also ₹8.9 crore. The figures are based on GRP Ltd's consolidated results disclosed through the BSE filing and NSE-listed information for GRPLTD.

Revenue Moves Above ₹170 Crore

Revenue from operations increased by ₹39.9 crore from ₹132.4 crore in Q2 FY26 to ₹172.3 crore in Q2 FY27. On a sequential basis, revenue rose from ₹156.8 crore in Q1 FY27. The company reported 30.1% year-on-year revenue growth for the September quarter. Total income increased to ₹172.7 crore from ₹133.1 crore in the corresponding quarter of the prior year.

The supplied company information refers to industrial recycling, reclaimed rubber and circular material business lines. It also identifies Rubber Recycling as the primary contributor to growth. In the standalone segment information provided, Rubber Recycling revenue was ₹165.2 crore in Q2 FY27, compared with ₹129.5 crore a year earlier. The Others segment recorded revenue of ₹17.1 crore, against ₹11.4 crore in Q2 FY26.

Net Profit More Than Triples Year on Year

GRP's consolidated net profit rose by ₹4.4 crore year on year, reaching ₹6.4 crore in Q2 FY27. The prior-year quarterly profit was ₹2.0 crore. The company also reported a 52.4% quarter-on-quarter increase in net profit from ₹4.2 crore in Q1 FY27. This shows that profit growth outpaced the increase in revenue during the reported quarter.

Profit before tax increased to ₹8.9 crore from ₹3.3 crore in Q2 FY26. That is an increase of ₹5.6 crore over the year-earlier period. Compared with Q1 FY27, profit before tax increased from ₹8.4 crore. The results did not report any exceptional item in the figures provided.

Operating Margin Improves From Last Year

Operating margin was 5.2% in Q2 FY27, compared with 2.5% in Q2 FY26. The 2.7 percentage-point year-on-year improvement accompanied the rise in revenue and profit. The supplied results data also stated that operating profit increased 240.0% year on year. On a quarter-on-quarter basis, operating profit growth was reported at 7.6%.

The Q2 operating margin was marginally below the 5.3% reported in Q1 FY27. This means the business maintained a broadly similar margin level sequentially while revenue rose. The year-on-year comparison remains more pronounced because Q2 FY26 had a lower operating margin of 2.5%.

Sequential Performance Remains Positive

GRP's Q2 revenue was ₹15.5 crore higher than the ₹156.8 crore reported in Q1 FY27. Total income increased by ₹15.4 crore from ₹157.3 crore in the preceding quarter. Net profit increased by ₹2.2 crore sequentially. Profit before tax rose by ₹0.5 crore over the same period.

Board Approval and Results Schedule

The Board of Directors approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, at its meeting on October 28, 2026. GRP had earlier scheduled a board meeting for October 28 to consider its Q2 and H1 unaudited results. The company's trading window was stated to remain closed until October 30, 2026.

The reported results relate to the September-quarter period, commonly referred to as Q2 FY27. Investors can compare the consolidated figures with Q1 FY27 and Q2 FY26 to assess both sequential and annual movement. The company is listed on the NSE under the symbol GRPLTD.

Earnings Call Set for October 30

GRP announced an earnings call for investors and analysts on October 30, 2026, at 3:00 PM IST. The call is intended to discuss the company's Q2 and H1 FY27 financial and operational performance. The company issued an updated virtual link for the call on October 26, 2026.

The supplied announcement stated that Managing Director Harsh Gandhi and Chief Financial Officer Shilpa Mehta would present during the discussion. The call provides the next scheduled company interaction following the release of the quarterly results. It may offer management commentary on the reported financial performance and operations.

Solar Capacity Adds Operating Context

Separate company information stated that GRP's solar power plants at Ankleshwar and Panoli in Gujarat began commercial generation on October 19, 2026. The plants add 8 MWp of capacity. The stated investment was ₹2.6 crore, and the company said the project is intended to lower energy costs through preferential tariffs.

The commercial generation date falls within the period of the Q2 results announcement but after the September 30 quarter-end. Therefore, the provided information does not establish a quantified financial contribution from the solar facilities to Q2 FY27. The development is relevant as an operational update ahead of the October 30 earnings call.

What the Q2 Results Indicate

The principal feature of GRP's Q2 FY27 results was the faster pace of profit growth relative to revenue growth. Revenue increased 30.1% year on year, while net profit rose 220.0%. Operating margin also improved substantially from the prior-year level, though it was nearly unchanged from Q1 FY27.

GRP's next confirmed event is its October 30, 2026 earnings call, where management is scheduled to discuss the Q2 and H1 FY27 performance. The reported consolidated results, investor call and recent solar-generation update are the disclosed developments currently available to market participants.