Sumax Engineering Limited H1 profit rose 60% as EBITDA margin grew

Sumax reported H1 FY27 profit after tax rose 60.44% year on year to Rs 8.44 crore, as EBITDA margin expanded 356 basis points to 15.5% in the half ended September 30, 2026. Total revenue increased 7.39% to Rs 77.49 crore, showing profit growth outpaced income growth.

How did Sumax’s H1 FY27 earnings change?

Sumax’s H1 FY27 profit after tax, or PAT, increased 60.44% to Rs 8.44 crore from Rs 5.26 crore in H1 FY26. Earnings before interest, tax, depreciation and amortisation, or EBITDA, rose 39.49% to Rs 11.99 crore from Rs 8.59 crore, while total revenue increased 7.39% to Rs 77.49 crore from Rs 72.16 crore.

The operating result changed more quickly than income. EBITDA increased by Rs 3.39 crore between the two half years, compared with a Rs 5.33 crore increase in total revenue. Management said EBITDA margin reached 15.5%, up 356 basis points, while net profit margin reached 10.9%, up 360 basis points.

The detailed profit and loss statement identifies Rs 77.49 crore as H1 FY27 total revenue. A separate key-highlights table labels the same Rs 77.49 crore total-income figure as “H2 FY27”; management commentary and the detailed statement both identify the reporting period as H1 FY27.

What drove Sumax’s EBITDA margin expansion?

Sumax’s reported total expenses rose by Rs 1.94 crore to Rs 65.50 crore in H1 FY27 from Rs 63.56 crore in H1 FY26, while total revenue rose by Rs 5.33 crore. This difference coincided with EBITDA rising by Rs 3.39 crore and management’s stated 356-basis-point increase in EBITDA margin.

Cost of materials consumed, the largest reported expense, increased by Rs 0.59 crore to Rs 56.47 crore from Rs 55.88 crore. Revenue from operations increased by Rs 5.11 crore to Rs 76.93 crore from Rs 71.82 crore over the same comparison, while other income rose by Rs 21.96 lakh to Rs 55.51 lakh.

Employee benefits expense rose by Rs 86.26 lakh to Rs 6.27 crore, and operating and selling expenses increased by Rs 48.23 lakh to Rs 2.76 crore. The presentation does not attribute the margin change to a particular product, customer, pricing action or cost-saving programme.

Which below-EBITDA items changed in H1 FY27?

Sumax reported profit before tax, or PBT, of Rs 11.11 crore in H1 FY27, up 65.09% from Rs 6.73 crore in H1 FY26. The increase in PBT was larger than the increase in EBITDA, but the presentation does not provide a complete line-by-line bridge between the two measures.

Depreciation and amortisation rose to Rs 71.74 lakh in H1 FY27 from Rs 56.22 lakh in H1 FY26. Finance expense moved in the opposite direction, falling to Rs 14.37 lakh from Rs 24.34 lakh, a reduction of Rs 9.97 lakh.

The presentation’s H1 FY26 EBITDA of Rs 8.59 crore less its listed depreciation and finance expense of Rs 80.56 lakh does not equal its stated PBT of Rs 6.73 crore. For H1 FY27, EBITDA of Rs 11.99 crore less the listed Rs 86.11 lakh of depreciation and finance expense is Rs 11.12 crore, compared with stated PBT of Rs 11.11 crore; no additional reconciling line is shown.

Tax expense rose to Rs 2.67 crore from Rs 1.47 crore as PBT increased. After tax, PAT was Rs 8.44 crore, and management reported a net profit margin of 10.9%, 360 basis points above the prior-year half.

What expansion and product plans does Sumax disclose?

Sumax has proposed manufacturing units in Rajasthan and Haryana, according to management commentary for H1 FY27. The presentation gives no capital expenditure, capacity, commissioning date or funding figure for either proposed unit.

Sumax describes itself as an integrated manufacturer and supplier of automotive consumables for automotive original equipment manufacturers, or OEMs, and the auto-refinish and aftermarket segments. Its facilities are in Chennai and Manesar, with product categories covering vehicle manufacturing, refinishing, protection and maintenance applications.

Paint Protection Film, or PPF, is the specific value-added offering identified in the presentation. Sumax received approval from Tata Motors Passenger Vehicles Limited to introduce PPF through a bill-to-ship-to, or BTST, model, with five-year and 10-year product options.

What do Sumax’s commercial and listing disclosures show?

Sumax said Tata Motors dealerships will facilitate customer orders under the PPF BTST model, while trained applicators will install the film. The presentation does not disclose H1 FY27 revenue, margin, order volumes or a launch date for this arrangement.

Sumax listed on the NSE Emerge platform on September 2, 2026, at Rs 111 per share, against an issue price of Rs 101. The presentation reports an initial public offering size of Rs 53.40 crore, a listing premium of 9.90% and subscription of 162.94 times.

Sumax also participated in Automechanika Frankfurt 2026 as INDASA’s exclusive distributor in India. The company said its relationship with INDASA was established in 2006 and that the event covered abrasives, surface preparation, paint rectification and polishing solutions.

The Tata Motors PPF arrangement and the INDASA relationship are separate commercial mechanisms. The former uses dealerships and trained applicators for automotive-protection orders, while the latter concerns distribution in refinishing categories; the presentation does not quantify either activity’s H1 FY27 contribution.

Conclusion

Sumax’s H1 FY27 figures show operating profitability rising faster than income: total revenue increased 7.39% to Rs 77.49 crore, EBITDA increased 39.49% to Rs 11.99 crore and PAT increased 60.44% to Rs 8.44 crore. Management reported that EBITDA margin reached 15.5% and net profit margin reached 10.9%.

The next disclosures to watch are details of the proposed Rajasthan and Haryana manufacturing units, including timing, investment, capacity and funding. Sumax may also provide revenue or margin information for the Tata Motors PPF model and clarify the “H2 FY27” label applied to the Rs 77.49 crore total-income figure in its key-highlights table.