Monolithisch India Q2 FY27 Revenue Rises 88.2%

Q2 performance reaches new highs

Monolithisch India Limited reported its highest quarterly revenue, EBITDA and profit after tax for the quarter ended September 30, 2026. The company manufactures premixed silica ramming mass used by induction-furnace steelmakers. Consolidated revenue rose 88.2% year on year to ₹53.59 crore in Q2 FY27. The comparable Q2 FY26 revenue was ₹28.48 crore. EBITDA increased faster than revenue, rising 192.2% to ₹15.80 crore. Profit after tax increased 145.1% to ₹11.17 crore.

Profitability improves sharply

The quarterly results showed a material improvement in operating and net profit margins. EBITDA margin expanded to 29.5% in Q2 FY27 from 19.0% in Q2 FY26. This represents an increase of 1,049 basis points. PAT margin rose to 20.8% from 16.0%, improving by 484 basis points. Diluted earnings per share stood at ₹5.14, compared with ₹2.22 in the year-ago quarter. The company linked the performance to higher demand and an improved product mix.

SGB product mix supports earnings

Management attributed the growth to broader adoption of its specialised pre-mixed silica ramming mass, including the SGB Limited series. These products are used as refractory consumables in induction furnaces. The company said a larger contribution from the premium product range supported margin expansion. Its stated target is to derive 70% of revenue from the SGB Limited series by the end of FY27. The shift towards a higher-value mix was an important factor in the stronger EBITDA growth reported during the quarter.

Half-year revenue crosses ₹100 crore

For the first half of FY27, Monolithisch India reported revenue of ₹100.79 crore. H1 FY27 EBITDA was ₹28.9 crore, up 141.1% year on year. Half-year PAT stood at ₹21.2 crore, also up 141.3% year on year. EBITDA margin for the half year was 28.7%, an increase of 775 basis points. PAT margin was 21.1%, up 571 basis points. The H1 performance provides the financial context for the company retaining its FY27 revenue guidance.

Key financial data

Capacity expansion remains a focus

Monolithisch India entered Q2 FY27 with a larger manufacturing base. The company has stated that installed capacity was 5.76 lakh tonnes per annum in Q2 FY27. It has outlined a plan to increase installed capacity to 8.75 lakh tonnes per annum by Q3 FY28. The expansion includes new plants in Karnataka and Rajasthan. Metalurgica India’s greenfield facility began commercial production on October 10, 2026. The company is seeking to expand its presence closer to key steelmaking clusters across India.

Bihar mine plan and raw-material costs

The company has also outlined a backward-integration plan through a captive stone block in Nawada, Bihar. Management expects the quartzite mine to commence operations around January or February 2027, which falls in Q4 FY27. The company indicated that the mine could reduce raw-material costs by about 40%. It also referred to potential savings of ₹1,200 to ₹1,300 per tonne from backward integration. Management said EBITDA margins could improve by at least 4 to 5 percentage points from FY28 onwards, subject to mine operations and execution.

Revenue guidance stays unchanged

Monolithisch India retained FY27 revenue guidance of ₹250 crore until the mines commence operations. It said guidance may be revised after the mines begin operating. The Q2 revenue of ₹53.59 crore was below an internal target range of ₹55 crore to ₹60 crore, according to the business update, because of commissioning delays. Even so, the company delivered 88.2% revenue growth and substantial margin expansion. The update underlines the importance of timely commissioning, product premiumisation and raw-material integration to the company’s next phase of operations.

Investor communication and management participation

The company approved unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, along with the auditor’s limited review report. It shared an investor presentation on October 25, 2026. An investor and analyst earnings call was held on October 27, 2026, and the audio recording link was subsequently submitted by the company. The call included Chairman and Whole-Time Director Prabhat Tekriwal, Managing Director Harsh Tekriwal, and Executive Director Kritish Tekriwal. Management discussed growth plans, capacity additions and the proposed mining operation.

What the results mean for investors

The Q2 FY27 numbers show that Monolithisch India’s revenue growth was accompanied by a larger rise in EBITDA and PAT. The margin gains reflect the reported shift towards higher-value SGB products and operating leverage from a larger production base. The planned Nawada mine is a key future operational development because it is intended to secure quartzite supply and reduce raw-material costs. The company’s stated FY27 revenue guidance remains ₹250 crore pending the start of mine operations. Investors will track commissioning progress, capacity additions and management’s next update on the mine timeline.