MRC Agrotech Ltd Q2 Profit Falls 50% QoQ to ₹0.2 Crore
Key highlights
- MRC Agrotech reported Q2 FY27 consolidated revenue of ₹19.01 crore, up 265.4% year on year.
- Q2 FY27 consolidated net profit was ₹0.18 crore, down 50% from ₹0.4 crore in Q1 FY27.
- MRC Agrotech's operating margin declined to 1.0% in Q2 FY27 from 2.2% in Q1 FY27.
- H1 FY27 consolidated revenue was ₹45.67 crore and net profit was ₹0.57 crore.
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MRC Agrotech Ltd reported Q2 FY27 consolidated net profit of ₹0.18 crore, down 50% from the preceding quarter, even as revenue from operations rose 265.4% year on year to ₹19.01 crore for the quarter ended September 30, 2026. The results indicate a sharp expansion in trading activity but continued thin profitability.
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What did MRC Agrotech report for Q2 FY27?
MRC Agrotech reported consolidated revenue from operations of ₹19.01 crore in Q2 FY27, compared with ₹5.15 crore in Q2 FY26 and ₹26.67 crore in Q1 FY27. Total income was ₹19.1 crore, including ₹0.1 crore of other income. The company operates in a single business segment, trading in agriculture products.
Consolidated net profit stood at ₹0.18 crore, against ₹0.03 crore in the year-earlier quarter and ₹0.4 crore in Q1 FY27. Profit before tax was ₹0.2 crore, down from ₹0.6 crore in the June quarter. The operating margin was 1.0%, compared with 2.2% in Q1 FY27 and 1.9% a year earlier.
How did the quarterly results compare with previous periods?
MRC Agrotech recorded strong year-on-year revenue growth from a relatively low base in Q2 FY26, while sequential revenue and profit declined from Q1 FY27. Consolidated revenue fell by ₹7.66 crore from the June quarter, while net profit reduced by ₹0.22 crore.
The company also disclosed standalone figures. Standalone revenue from operations was ₹18.93 crore in Q2 FY27, up from ₹4.92 crore a year earlier but below ₹24.46 crore in Q1 FY27. Standalone profit before tax was ₹0.25 crore, while standalone net profit was ₹0.19 crore, compared with ₹0.01 crore in Q2 FY26.
What were the half-year financial figures?
MRC Agrotech reported consolidated revenue of ₹45.67 crore for the half year ended September 30, 2026. Consolidated net profit for the first half of FY27 was ₹0.57 crore, compared with ₹0.15 crore in the corresponding period of the previous financial year.
The filing stated that profit before tax for the half year was ₹0.66 crore. It also noted that operating cash flow for the half year was negative, without providing an amount in the available results summary. Trade receivables were reported at ₹14.59 crore, compared with ₹44.8 crore in the comparative figure cited in the filing summary.
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What did the board and auditor say about the results?
MRC Agrotech's board approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, at its meeting on November 14, 2026. The company asked the stock exchanges to take the results on record under the SEBI Listing Regulations.
P.C. Surana & Co. issued an unmodified limited review conclusion for both the standalone and consolidated financial statements. The filing also stated that no investor complaints were pending. MRC Agrotech has adopted Indian Accounting Standards, or Ind AS, from April 1, 2026.
Why do margins remain important for MRC Agrotech investors?
MRC Agrotech's Q2 revenue increase shows significantly higher business volume than a year earlier, but the 1.0% operating margin shows that only a small share of revenue remained after operating expenses. The operating profit was down 66.7% sequentially, according to the results summary, alongside the fall in quarterly revenue.
The company has identified agriculture-product trading as its single operating segment. Its consolidated structure includes wholly owned Marsapi Lifesciences and 51%-owned Agronica Seeds Spark. For investors, the difference between rapid revenue growth and modest profit generation remains a central feature of the reported financial performance. The source did not provide a share-price movement linked to the announcement.
Conclusion
MRC Agrotech delivered year-on-year growth in Q2 FY27 revenue and profit, supported by higher reported trading activity. However, revenue fell from Q1 FY27, consolidated net profit declined 50% sequentially to ₹0.18 crore, and the operating margin narrowed to 1.0%.
Investors will watch whether MRC Agrotech can improve margins and operating cash generation as revenue scales. The next quarterly financial disclosure will provide updated information on sales momentum, receivables, cash flow and profitability across the company's agriculture-products trading operations.