Ramco Industries Q2 profit rises 24% as building revenue grows

Ramco Industries Limited reported consolidated net profit of Rs 50.66 crore for the quarter ended 30 September 2026, up 24% from Rs 40.93 crore a year earlier, as Building Products revenue rose 20% to Rs 379.07 crore and segment profit increased to Rs 54.47 crore. Net profit, however, declined from Rs 86.59 crore in the June 2026 quarter.

What were Ramco Industries' consolidated Q2 results?

Ramco Industries' consolidated revenue from operations rose 19% year on year to Rs 437.28 crore in the quarter ended 30 September 2026, from Rs 367.25 crore in the corresponding 2025 quarter. Total income, including Rs 4.23 crore of other income, reached Rs 441.51 crore, against Rs 370.77 crore a year earlier. Profit from operations before exceptional items and tax increased to Rs 69.72 crore from Rs 42.65 crore.

Consolidated net profit, including the share of profit after tax from associates, was Rs 50.66 crore, compared with Rs 40.93 crore in the year-earlier quarter. Basic and diluted earnings per share were Rs 5.85, against Rs 4.73. Net profit from ordinary activities after tax, before the associates' contribution, more than doubled to Rs 40.84 crore from Rs 20.36 crore, while tax expense rose to Rs 28.88 crore from Rs 22.52 crore.

How did Building Products drive Ramco Industries' growth?

Ramco Industries' Building Products segment generated revenue of Rs 379.07 crore in the September 2026 quarter, up from Rs 316.55 crore a year earlier. The Rs 62.52 crore increase was the largest rise among the reported operating segments, while consolidated revenue from operations increased by Rs 70.03 crore. Building Products revenue was equivalent to about 87% of consolidated revenue from operations of Rs 437.28 crore.

Building Products segment profit before finance cost rose to Rs 54.47 crore from Rs 31.57 crore, an increase of Rs 22.90 crore. Textiles revenue increased to Rs 54.93 crore from Rs 47.62 crore and its segment profit rose to Rs 4.70 crore from Rs 1.00 crore. Windmills revenue was Rs 9.49 crore against Rs 9.35 crore, while segment profit declined to Rs 6.98 crore from Rs 7.18 crore.

Why did Ramco Industries' profit decline from the June quarter?

Ramco Industries' consolidated net profit declined 41% sequentially to Rs 50.66 crore in the September 2026 quarter from Rs 86.59 crore in the quarter ended 30 June 2026. Revenue from operations fell 29% from Rs 613.81 crore, while profit before tax declined from Rs 105.74 crore to Rs 69.72 crore. Building Products revenue decreased from Rs 556.29 crore and segment profit fell from Rs 96.51 crore in the June quarter.

The June-quarter figures included an exceptional gain of Rs 8.78 crore from the sale of land, while the September-quarter result reported no exceptional item. Net profit from ordinary activities after tax fell to Rs 40.84 crore from Rs 79.21 crore sequentially. Share of profit after tax from associates increased to Rs 9.82 crore from Rs 7.38 crore, but this was not enough to offset the decline in operating profit and the absence of the land-sale gain.

What happened to Ramco Industries' associate-profit contribution?

Ramco Industries' share of profit after tax from associates was Rs 9.82 crore in the September 2026 quarter, down 52% from Rs 20.57 crore in the September 2025 quarter. The associate contribution therefore declined even as net profit before associates rose to Rs 40.84 crore from Rs 20.36 crore. Consolidated net profit still increased by Rs 9.73 crore year on year to Rs 50.66 crore.

For the half year ended 30 September 2026, share of profit after tax from associates was Rs 17.20 crore, compared with Rs 40.38 crore in the prior-year half year. Despite this decline, consolidated net profit for the six months increased to Rs 137.25 crore from Rs 106.56 crore. Revenue from operations for the half year grew to Rs 1,051.09 crore from Rs 898.77 crore, while profit before tax increased to Rs 175.46 crore from Rs 100.21 crore.

What do Ramco Industries' cash flow and debt disclosures show?

Ramco Industries generated net cash from operating activities of Rs 196.82 crore in the half year ended 30 September 2026, compared with Rs 98.77 crore in the prior-year half year. Cash generated from operations before taxes was Rs 232.09 crore, up from Rs 118.52 crore. The movement included an Rs 81.10 crore inflow from inventories, compared with Rs 17.90 crore in the earlier half year, while other current assets used Rs 54.97 crore.

Ramco Industries used Rs 178.94 crore in financing activities during the six months, including Rs 72.37 crore of long-term borrowing repayment and Rs 90.43 crore of short-term borrowing repayment. Investing activities used Rs 45.84 crore, compared with Rs 6.82 crore in the previous year's comparable period. During the quarter ended 30 September 2026, Ramco Industries exercised its call option and fully redeemed its listed non-convertible debentures, leaving no amount outstanding at that date.

Conclusion

Ramco Industries delivered higher year-on-year September-quarter revenue and profit, led by Building Products, where segment revenue increased by Rs 62.52 crore and segment profit rose by Rs 22.90 crore. The consolidated outcome also reflected a lower associate-profit contribution of Rs 9.82 crore, compared with Rs 20.57 crore a year earlier, and a sequentially lower profit base after the June-quarter land-sale gain.

The filing gives no forward target or scheduled results event. The next reported figures will clarify whether Building Products revenue recovers from Rs 437.28 crore of consolidated quarterly revenue after the September quarter, compared with Rs 613.81 crore in June, and whether associate profit improves from Rs 17.20 crore in the first half versus Rs 40.38 crore a year earlier.