NOCIL Limited Q2 FY27 Profit Rises 38% to ₹23.84 Crore

NOCIL Limited reported standalone net profit of ₹23.84 crore for the quarter ended September 30, 2026, up 38% year-on-year from ₹17.26 crore. Revenue from operations increased 33% to ₹426.89 crore, while EBITDA rose to ₹35.2 crore and the EBITDA margin expanded to 8.27%.

What did NOCIL report in Q2 FY27?

NOCIL reported higher revenue, operating profit and standalone net profit for the September 2026 quarter compared with the same period a year earlier. Standalone revenue from operations increased to ₹426.89 crore from ₹320.56 crore in Q2 FY26, representing growth of about 33%.

Standalone net profit rose to ₹23.84 crore from ₹17.26 crore a year ago. EBITDA increased 72.55% to ₹35.2 crore from ₹20.4 crore, while the EBITDA margin improved by 191 basis points to 8.27% from 6.36% in the corresponding previous-year quarter.

The Board of Directors approved the unaudited standalone and consolidated results for the quarter and six months ended September 30, 2026, at its meeting in Mumbai on October 29, 2026. The financial statements were prepared under Indian Accounting Standard 34 and were subject to a limited review by statutory auditors Kalyaniwalla & Mistry LLP.

How did NOCIL's consolidated numbers compare?

NOCIL's consolidated revenue was ₹426.89 crore in Q2 FY27, matching its standalone revenue, while consolidated net profit was ₹24.05 crore. This compared with consolidated profit of ₹12.12 crore in Q2 FY26, resulting in year-on-year growth of 98.4%.

The consolidated results include wholly owned subsidiary PIL Chemicals Limited. PIL Chemicals reported quarterly revenue from operations of ₹4.26 crore and net profit after tax of ₹0.07 crore, with total assets of ₹31.51 crore at the end of the quarter.

The different growth rates in standalone and consolidated profit reflect the separate reporting bases. The company reported standalone profit growth of about 38%, while the consolidated comparison shows profit nearly doubling from the lower base recorded in Q2 FY26.

What drove the improvement in operating performance?

The improvement in NOCIL's operating performance was reflected in the increase in EBITDA and the expansion in margin. Revenue growth outpaced the rise in expenditure in the reported standalone results, supporting the 191-basis-point improvement in EBITDA margin.

In the consolidated quarterly comparison, operating profit was reported at ₹36.0 crore, up from ₹22.32 crore a year earlier. Consolidated operating margin was 8.4%, compared with 7.0% in Q2 FY26. The comparable operating-profit figures differ slightly from the standalone EBITDA figures because they are presented on different reporting bases.

Sequentially, consolidated revenue increased 5.9% from ₹403 crore in Q1 FY27. However, consolidated operating profit declined from ₹45.2 crore in the preceding quarter, and the operating margin moderated from 11.2% in Q1 FY27 to 8.4% in Q2 FY27.

What is NOCIL's FY27 revenue and margin outlook?

NOCIL has indicated FY27 revenue guidance of ₹1,400 crore to ₹1,600 crore and an EBITDA margin target of around 10%. The guidance provides the operating benchmarks against which investors can assess the company's performance over the remaining quarters of the financial year.

Management said Q2 volume declined 3% year-on-year but expects a recovery in the second half of FY27. The company also highlighted growth in volumes during the first half, while the Q2 comparison indicates that quarterly demand and product mix remained relevant to operating performance.

NOCIL had announced a ₹130 crore brownfield capital-expenditure programme in March 2026. It has also stated that its ₹250 crore brownfield expansion was completed ahead of schedule and within budget. These projects are part of the company's effort to support its operating requirements and revenue plans.

How do the results affect NOCIL investors and operations?

The quarter shows that NOCIL achieved higher year-on-year revenue and improved operating margins, but the sequential decline in consolidated operating profit indicates that quarterly profitability can vary. For investors, the reported margin improvement and the company's FY27 guidance are key disclosed indicators rather than a guarantee of future financial performance.

The revenue growth is also relevant for operations because it comes alongside brownfield expansion activity and a stated plan to improve margins to around 10% for the full year. The reported 3% decline in Q2 volume means the expected second-half recovery remains an important operating factor in meeting the company's stated targets.

No share-price movement was provided with the financial results. The available disclosures focus on earnings, margins, volume trends, capital expenditure and the outlook provided in the investor presentation.

Conclusion

NOCIL delivered a stronger year-on-year September-quarter performance, with standalone revenue rising to ₹426.89 crore and net profit increasing 38% to ₹23.84 crore. Higher EBITDA and an 8.27% margin show an improvement in operating profitability, while consolidated profit of ₹24.05 crore was nearly double the prior-year level.

The next disclosures to watch are progress toward FY27 revenue of ₹1,400 crore to ₹1,600 crore, the stated EBITDA margin target of around 10%, and management's expected second-half volume recovery. Updates on the ₹130 crore brownfield capex programme will also remain relevant to NOCIL's operating plans.