Sayaji Industries Q2 FY27 Results: Profit Returns

Quarterly result at a glance

Sayaji Industries Ltd announced its financial results for the quarter ended 30 September 2026 on 22 October 2026. The July to September quarter was marked by year-on-year revenue growth and a return to profit from a loss reported in the corresponding quarter of FY26. The company reported revenue of ₹263.55 crore in the headline quarterly summary. This was 5.71% higher than ₹249.31 crore in Q2 FY26. However, revenue was 8.51% lower than ₹288.08 crore in the preceding June 2026 quarter. The Board of Directors approved the unaudited standalone and consolidated results along with the limited review report.

Revenue increased from the year-ago quarter

The reported Q2 FY27 revenue of ₹263.55 crore reflects an increase of ₹14.24 crore from the year-ago period. The company’s detailed standalone disclosure reported revenue from operations of ₹256.19 crore, compared with ₹239.26 crore in Q2 FY26. Total standalone income was ₹258.23 crore, against ₹240.63 crore a year earlier. The difference between headline revenue and revenue from operations reflects the different financial data presentations included in the disclosures. On a consolidated basis, revenue from operations stood at ₹263.55 crore for the quarter. Consolidated total income was ₹264.33 crore.

Standalone profit turns positive

The detailed standalone statement showed net profit of ₹3.91 crore in Q2 FY27, compared with a loss of ₹9.04 crore in Q2 FY26. Profit before tax was ₹4.90 crore, reversing a loss before tax of ₹12.38 crore in the year-earlier quarter. Basic earnings per share improved to ₹1.55 from a loss per share of ₹3.58. Another reported data presentation put standalone net profit at ₹3.42 crore, compared with a loss of ₹9.22 crore a year earlier. These figures consistently indicate a return to profitability, though reported profit figures differ across the provided summaries.

Consolidated earnings also return to profit

At the consolidated level, Sayaji Industries reported profit after tax of ₹3.14 crore for Q2 FY27. This compares with a loss in the corresponding quarter of FY26, according to the provided results summary. Consolidated profit before tax was ₹3.87 crore. Total comprehensive income stood at ₹3.27 crore. The group’s consolidated revenue from operations of ₹263.55 crore was higher than ₹249.31 crore in Q2 FY26. The consolidated numbers show that the year-on-year recovery extended beyond the standalone entity.

Sequential profitability weakened

The quarter-on-quarter comparison was less favourable. The reported operating profit was ₹14.53 crore, down 17.86% from ₹17.69 crore in the June quarter. Profit before depreciation and tax, or PBDT, declined 35.42% sequentially to ₹9.50 crore from ₹14.71 crore. Reported profit before tax fell 58.50% to ₹3.88 crore from ₹9.35 crore. Net profit of ₹3.14 crore was 57.16% lower than ₹7.33 crore in the preceding quarter. The sequential decline shows that the improvement over the previous year did not translate into stronger earnings compared with Q1 FY27.

Key Q2 FY27 financial figures

Strong year-on-year percentage changes

The quarterly summary reported operating profit growth of 775.81% year-on-year. PBDT was stated to have increased 230.32% from the year-ago quarter. Profit before tax was reported to have risen 131.21% year-on-year. The reported net profit growth was 134.24% year-on-year in the summary, based on a comparison with the loss-making prior-year period. Percentage comparisons involving a shift from loss to profit should be read alongside the absolute figures. The more direct conclusion is that the company moved from losses in Q2 FY26 to positive profit in Q2 FY27.

Inventory valuation policy change

Sayaji Industries disclosed a change in its inventory valuation method from FIFO to the weighted-average basis during the quarter ended 30 June 2026. The company stated that the change was accounted for retrospectively. It reduced inventory value by ₹0.09 crore and retained earnings by ₹0.07 crore as of 1 April 2025. This is an accounting policy disclosure rather than a separate operating item for the September quarter. Investors assessing period comparisons may consider this adjustment alongside the reported financial figures.

Board approval and audit review

The company said its Board approved the unaudited standalone and consolidated financial statements at its 22 October 2026 meeting. Shah & Shah Associates issued an unmodified limited review report on the quarterly financial statements, as stated in the disclosures. The company also submitted newspaper publication material for the financial results for the quarter and half year ended 30 September 2026. An unmodified review report indicates that the auditors did not identify a material basis to modify their conclusion on the interim financial statements. It does not alter the differences in metric presentation across the supplied result summaries.

What the results mean for investors

The results show a clear year-on-year improvement in Sayaji Industries’ quarterly financial position. Revenue growth and the transition from loss to profit are the principal takeaways from Q2 FY27. At the same time, the fall in operating profit, PBDT, profit before tax and net profit from Q1 FY27 points to weaker sequential earnings. The company’s shares were indicated at ₹100.80 on the NSE and ₹100.00 on the BSE in the provided market data. Investors will likely compare future quarterly disclosures with both the reported September-quarter recovery and the higher June-quarter profitability. The next financial update will provide a clearer view of whether the year-on-year turnaround can be sustained while sequential margins recover.