Indian Toners' September-quarter profit rises 4% as revenue grows 6%

Indian Toners and Developers Limited reported net profit of Rs 5.58 crore for the quarter ended September 30, 2026, up 4% from Rs 5.38 crore a year earlier. Operating revenue increased 6% to Rs 41.12 crore, but material costs rose faster, while profit and the calculated net-profit margin declined from the preceding June quarter.

How did Indian Toners perform in the September quarter?

Indian Toners increased September-quarter operating revenue to Rs 41.12 crore from Rs 38.85 crore in the quarter ended September 30, 2025, a year-on-year rise of about 6%. Other income rose to Rs 1.39 crore from Rs 1.24 crore, taking total income to Rs 42.51 crore from Rs 40.10 crore.

Net profit for the September 2026 quarter was Rs 5.58 crore, compared with Rs 5.38 crore a year earlier. Profit before tax, or PBT, rose 6% to Rs 7.57 crore from Rs 7.14 crore, while earnings per share were Rs 1.07, compared with Rs 1.04 after adjustment for the July 17, 2026 share subdivision.

The rise in profit was smaller than the increase in total income because expenses grew to Rs 34.95 crore from Rs 32.96 crore. Current tax was Rs 1.72 crore and deferred-tax charge was Rs 26.90 lakh in the September 2026 quarter, compared with current tax of Rs 1.71 crore and Rs 4.78 lakh of taxes relating to earlier years in the comparable quarter.

What costs changed for Indian Toners during the quarter?

Indian Toners' cost of materials consumed rose 11% year-on-year to Rs 19.35 crore in the September 2026 quarter from Rs 17.48 crore. This increase exceeded the 6% rise in operating revenue and was the largest disclosed movement among the main expense lines.

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 reached Rs 4.69 crore from Rs 4.37 crore. Purchases of stock-in-trade were nil in the latest quarter, versus Rs 35.11 lakh a year earlier, while the inventory-change charge was Rs 67.22 lakh, compared with Rs 60.71 lakh.

Finance costs declined to Rs 4.15 lakh from Rs 4.37 lakh and depreciation and amortisation were broadly unchanged at Rs 1.34 crore, against Rs 1.34 crore a year earlier. PBT nevertheless reached Rs 7.57 crore, compared with Rs 7.14 crore in the September 2025 quarter.

Why did Indian Toners' profit decline from the June quarter?

Indian Toners' net profit declined 9% sequentially from Rs 6.10 crore in the quarter ended June 30, 2026 to Rs 5.58 crore in the September quarter. The result fell even as operating revenue rose 14% from Rs 36.21 crore and total income increased from Rs 38.70 crore.

The principal sequential movement was in inventory changes: the September quarter recorded an expense of Rs 67.22 lakh, whereas the June quarter reported a Rs 4.50 crore reduction in expense from changes in inventories of finished goods and work in progress. Material consumption also declined slightly to Rs 19.35 crore from Rs 19.81 crore, but that reduction did not offset the inventory movement.

PBT eased to Rs 7.57 crore from Rs 7.97 crore quarter-on-quarter, while other income declined to Rs 1.39 crore from Rs 2.50 crore. Based on reported operating revenue, net profit represented about 13.6% in the September quarter, compared with about 16.8% in the June quarter; this is a calculation from Indian Toners' reported figures, not a management margin measure.

What do Indian Toners' half-year results and balance sheet show?

Indian Toners recorded operating revenue of Rs 77.33 crore for the half year ended September 30, 2026, down from Rs 77.96 crore in the prior-year half year. However, other income rose to Rs 3.89 crore from Rs 2.82 crore, meaning total income increased to Rs 81.22 crore from Rs 80.78 crore.

Half-year net profit declined 12% to Rs 11.67 crore from Rs 13.23 crore, and PBT fell to Rs 15.54 crore from Rs 16.00 crore. Material costs climbed to Rs 39.16 crore from Rs 35.71 crore, while total expenses increased to Rs 65.68 crore from Rs 64.78 crore.

Total assets stood at Rs 274.72 crore at September 30, 2026, compared with Rs 261.07 crore at March 31, 2026. Current assets rose to Rs 176.79 crore from Rs 165.06 crore, including inventories of Rs 24.17 crore versus Rs 19.89 crore and trade receivables of Rs 30.43 crore versus Rs 27.19 crore.

Cash and cash equivalents were Rs 9.32 crore at September 30, compared with Rs 8.62 crore at March 31. For the six months, net cash from operating activities was Rs 1.77 crore, while investing activities used Rs 75.03 lakh and financing activities used Rs 32.19 lakh, resulting in a Rs 69.99 lakh increase in cash and cash equivalents.

What corporate actions did Indian Toners disclose with the results?

Indian Toners declared an interim dividend of Rs 1.20 per equity share of face value Rs 2 for financial year 2026-27. The record date is November 5, 2026, and the company said payment would be made on or before November 28, 2026.

Indian Toners also said its equity shares were listed on the National Stock Exchange of India Limited from October 30, 2026, alongside the existing BSE Limited listing. It had subdivided 1,03,91,732 shares of face value Rs 10 each into 5,19,58,660 shares of face value Rs 2 each, effective July 17, 2026, and recalculated comparative earnings per share accordingly.

During the quarter ended September 30, 2026, Indian Toners entered supply arrangements with manufacturers and suppliers for trading in writing instruments and stationery products. The filing does not quantify expected sales, margins, investment or timing from those arrangements, so their financial contribution cannot be assessed from the disclosed results.

Conclusion

Indian Toners delivered a year-on-year increase in September-quarter revenue and net profit, with operating revenue reaching Rs 41.12 crore and net profit reaching Rs 5.58 crore. The results also show a different sequential outcome: higher revenue than in the June quarter coincided with lower PBT and net profit, alongside lower other income and a reversal in the inventory-change line.

The next disclosed dates are the November 5, 2026 dividend record date and the planned payment on or before November 28, 2026. Indian Toners has also begun supply arrangements for writing instruments and stationery products, but the filing does not disclose their expected revenue, investment or profit contribution.