Indian Toners profit rises 4% as revenue reaches Rs 41.12 crore

Indian Toners and Developers Limited reported net profit of Rs 5.58 crore for the quarter ended September 30, 2026, up from Rs 5.38 crore a year earlier. Revenue from operations rose 6% year-on-year to Rs 41.12 crore, while material-consumption costs increased 11% to Rs 19.35 crore.

How did Indian Toners perform in the September 2026 quarter?

Indian Toners recorded a 4% year-on-year increase in net profit to Rs 5.58 crore in the September 2026 quarter, compared with Rs 5.38 crore in the quarter ended September 30, 2025. Profit before tax rose to Rs 7.57 crore from Rs 7.14 crore, while total comprehensive income was Rs 5.61 crore, compared with Rs 5.38 crore a year earlier.

Revenue from operations was Rs 41.12 crore, against Rs 38.85 crore in the comparable quarter, and other income rose to Rs 1.39 crore from Rs 1.24 crore. Consequently, total income reached Rs 42.51 crore, 6% above Rs 40.10 crore a year earlier. The September-quarter revenue was also higher than the Rs 36.21 crore reported in the preceding June 2026 quarter.

Indian Toners’ basic and diluted earnings per share, or EPS, were Rs 1.07 in the September 2026 quarter, compared with Rs 1.04 a year earlier. The company calculated comparative EPS after its July 17, 2026 subdivision of each Rs 10 equity share into five Rs 2 equity shares; its weighted average share count was 519.59 lakh shares in each period shown.

What costs changed for Indian Toners during the quarter?

Indian Toners’ total expenses increased 6% to Rs 34.95 crore in the September 2026 quarter from Rs 32.96 crore a year earlier. Cost of materials consumed rose by Rs 1.87 crore to Rs 19.35 crore, an 11% increase that exceeded the 6% rise in revenue from operations during the same comparison.

Employee-benefit expense increased to Rs 5.31 crore from Rs 5.28 crore, power and fuel expense rose to Rs 3.54 crore from Rs 3.48 crore, and other expenses rose to Rs 4.69 crore from Rs 4.37 crore. Finance costs declined to Rs 4.15 lakh from Rs 4.37 lakh, while depreciation and amortisation were broadly unchanged at Rs 1.34 crore.

Compared with the June 2026 quarter, total expenses rose from Rs 30.74 crore to Rs 34.95 crore as total income increased from Rs 38.70 crore to Rs 42.51 crore. Profit before tax, however, declined from Rs 7.97 crore in June to Rs 7.57 crore in September, while net profit fell from Rs 6.10 crore to Rs 5.58 crore on that sequential basis.

Why did first-half profit and EPS decline at Indian Toners?

Indian Toners’ first-half net profit declined because total expenses rose while revenue from operations edged lower, with profit falling 12% year-on-year to Rs 11.67 crore from Rs 13.23 crore. Half-year revenue from operations slipped 1% to Rs 77.33 crore from Rs 77.96 crore, although total income rose marginally to Rs 81.22 crore from Rs 80.78 crore because other income increased to Rs 3.89 crore from Rs 2.82 crore.

The first-half result included total expenses of Rs 65.68 crore, up from Rs 64.78 crore, while profit before tax fell to Rs 15.54 crore from Rs 16.00 crore. Material-consumption cost increased by Rs 3.46 crore to Rs 39.16 crore, whereas the half-year inventory-change line moved to a Rs 3.82 crore reduction from a Rs 60.68 lakh reduction in the prior-year period.

Indian Toners reported first-half EPS of Rs 2.25, compared with Rs 2.55 a year earlier. Current tax for the six-month period was Rs 3.36 crore versus Rs 3.67 crore, while the company recorded a deferred-tax charge of Rs 50.37 lakh after a deferred-tax credit of Rs 89.19 lakh in the prior-year half.

What balance-sheet and cash-flow movements did Indian Toners report?

Indian Toners’ total assets stood at Rs 274.72 crore on September 30, 2026, compared with Rs 261.07 crore at March 31, 2026. Current assets increased to Rs 176.79 crore from Rs 165.06 crore, led by inventories of Rs 24.17 crore, trade receivables of Rs 30.43 crore and current investments of Rs 104.38 crore.

Total equity rose to Rs 244.03 crore at September 30 from Rs 232.27 crore at March 31, including other equity of Rs 233.64 crore. Total liabilities were Rs 30.69 crore, compared with Rs 28.80 crore at the prior financial year-end, while current liabilities increased to Rs 17.56 crore from Rs 15.94 crore.

Net cash inflow from operating activities was Rs 1.77 crore for the half year ended September 30, 2026. Cash generated from operations was Rs 5.07 crore, but inventory and trade receivables increased by Rs 4.28 crore and Rs 3.24 crore respectively; cash and cash equivalents nevertheless ended the period at Rs 9.32 crore, up from Rs 8.62 crore at the beginning of the year.

What corporate actions and new arrangements did Indian Toners disclose?

Indian Toners’ board declared an interim dividend of Rs 1.20 per Rs 2 equity share at its October 30, 2026 meeting. The same day, the company’s equity shares were listed on the National Stock Exchange of India Limited in addition to their existing BSE Limited listing.

During the September 2026 quarter, Indian Toners entered supply arrangements with manufacturers and suppliers for trading in writing instruments and stationery products. The filing does not disclose revenue, investment, volumes or profit targets associated with those arrangements, so their financial contribution cannot yet be measured from the reported results.

The company also said the Rs 35.84 lakh incremental impact of new Labour Codes had been treated as an exceptional item in the year ended March 31, 2026 because it was non-recurring and regulatory-driven. Indian Toners said it continues to monitor relevant central and state rules for any further obligations; no exceptional item was recorded in the September 2026 quarter or half year.

Conclusion

Indian Toners combined a 6% increase in September-quarter operating revenue with a 4% rise in net profit, despite material-consumption costs increasing faster than revenue. The half-year comparison was less favourable: operating revenue declined 1%, total expenses increased 1%, and net profit fell 12% to Rs 11.67 crore, with EPS declining to Rs 2.25.

Next, readers can watch whether the writing-instruments and stationery supply arrangements disclosed for the September quarter contribute to revenue, as Indian Toners provided no financial target for them. The company also disclosed an interim dividend of Rs 1.20 per Rs 2 share and said it will monitor central and state rules for potential additional Labour Code obligations.