Indo SMC H1 FY27 Profit Rises 76% as Revenue Doubles

Indo SMC Ltd reported net profit of ₹20.18 crore for the half-year ended September 30, 2026, up 76.2% year-on-year, while revenue from operations rose 92.0% to ₹216.10 crore. The H1 FY27 results, approved on November 3, 2026, show substantially higher sales and profit alongside increased working-capital requirements.

What did Indo SMC report for H1 FY27?

Indo SMC reported total income of ₹218.04 crore in H1 FY27, compared with ₹112.62 crore in H1 FY26, an increase of 93.6%. Revenue from operations was ₹216.10 crore, against ₹112.54 crore a year earlier. Other income rose to ₹1.94 crore from ₹0.08 crore.

Profit before tax increased 74.7% year-on-year to ₹24.52 crore from ₹14.03 crore. Profit after tax stood at ₹20.18 crore, compared with ₹11.46 crore in the corresponding half of the previous financial year. Basic earnings per share increased to ₹8.83 from ₹6.87.

How were Indo SMC's H1 FY27 results approved?

Indo SMC's board approved the unaudited standalone financial results for the six months ended September 30, 2026, at its meeting on November 3, 2026. The company had previously intimated the stock exchange that the board would consider the half-year results at that meeting.

The board also considered the limited review report issued by statutory auditor A. N. Ruparel & Co. The financial statements were prepared under Accounting Standard 25, which applies to interim financial reporting. The announced results therefore cover the first half of FY27 and remain unaudited, subject to the limited review process.

What drove Indo SMC's revenue increase?

The CT PT Products segment was the principal contributor to the rise in sales. Segment revenue increased 116.8% year-on-year to ₹166.03 crore during H1 FY27, according to the reported results. This segment accounted for a substantial part of the company's revenue from operations for the period.

The rise in total income was broadly aligned with higher revenue from operations rather than other income. Revenue increased by ₹103.56 crore year-on-year, while other income increased by about ₹1.86 crore. This indicates that the reported top-line expansion was chiefly linked to operating sales.

The available disclosures also refer to stronger order conversion and execution during the period. However, the company has not provided a numerical order book figure, future sales target, or segment-wise margin breakdown in the information disclosed with these results.

What changed in Indo SMC's balance sheet and cash flow?

Shareholders' funds rose to ₹174.30 crore as of September 30, 2026, from ₹154.11 crore as of March 31, 2026. Long-term borrowings increased to ₹6.49 crore from ₹4.50 crore over the same period. The increase in shareholders' funds coincided with the company's reported first-half profitability.

Working-capital balances also increased. Inventories rose 30.4% to ₹110.93 crore, while trade receivables increased 46.8% to ₹52.50 crore. These movements contributed to negative operating cash flow of ₹9.89 crore for H1 FY27 despite the improvement in reported net profit.

The cash-flow position is relevant because higher inventories and receivables can absorb cash during a period of faster revenue growth. The disclosed figures show that Indo SMC's profitability and operating cash generation moved in different directions during the six-month period, owing to working-capital build-up.

What do the H1 FY27 figures mean for Indo SMC investors?

The results show strong year-on-year growth in revenue and profit, led by the CT PT Products segment. Net profit grew at a slower pace than revenue, with profit after tax rising 76.2% against a 92.0% increase in revenue from operations. The reported net profit margin was about 9.3% of total income, broadly in line with the indicated prior-period margin.

Investors will also need to consider the increase in inventories, receivables and borrowings alongside the higher earnings. These items are part of normal operating and funding requirements, but they affected first-half operating cash flow. The company hosted a virtual analyst and institutional investor meeting on September 25, 2026, as part of its stakeholder engagement process before the results announcement.

Conclusion

Indo SMC delivered higher H1 FY27 revenue, total income and net profit, with CT PT Products providing the main reported sales impetus. The board approval and limited review process formalised the unaudited half-year results, while the balance-sheet disclosures showed higher shareholders' funds as well as greater working-capital deployment.

The next points to watch are whether revenue growth is sustained in the second half, how inventories and receivables develop, and whether operating cash flow improves from the H1 FY27 outflow of ₹9.89 crore. The disclosed information does not set out a future revenue target or a scheduled earnings date beyond the November 3 board approval.