Super Tannery Q2 profit more than quadruples, revenue rises 26%

Super Tannery Limited reported consolidated profit after tax of Rs 2.85 crore for the quarter ended September 30, 2026, up from Rs 67.75 lakh a year earlier, while revenue from operations increased 26% to Rs 78.35 crore. The board approved the unaudited standalone and consolidated results on November 14, 2026.

How did Super Tannery perform in Q2?

Super Tannery’s consolidated profit after tax more than quadrupled year on year to Rs 2.85 crore in the quarter ended September 30, 2026, from Rs 67.75 lakh in the September 2025 quarter. Profit before tax rose to Rs 3.81 crore from Rs 99.87 lakh, and the statement reported no exceptional items in either period.

Basic and diluted earnings per equity share were Rs 0.26 in the September 2026 quarter, compared with Rs 0.06 a year earlier. The reported quarterly earnings-per-share figures are not annualised, and the consolidated statement lists paid-up equity share capital of Rs 10.79 crore at September 30, 2026.

Revenue from operations reached Rs 78.35 crore, compared with Rs 62.15 crore in the corresponding quarter of 2025. Sales and income from operations rose to Rs 75.05 crore from Rs 59.25 crore, while other operating income increased to Rs 3.29 crore from Rs 2.90 crore. Other income was Rs 48.24 lakh, against Rs 46.96 lakh.

Total income increased by Rs 16.21 crore year on year, while total expenses rose by Rs 13.39 crore. The resulting gap between total income and expenses was Rs 3.81 crore in the September 2026 quarter, compared with Rs 99.87 lakh in the prior-year quarter, consistent with the reported increase in profit before tax.

Which costs changed during Super Tannery’s Q2?

Super Tannery’s consolidated total expenses increased 22% year on year to Rs 75.02 crore in the September 2026 quarter from Rs 61.62 crore. That increase was lower than the 26% rise in revenue from operations, while cost of materials consumed rose to Rs 36.10 crore from Rs 31.95 crore.

Other expenses increased to Rs 20.34 crore from Rs 16.34 crore, and employee-benefit expense rose to Rs 4.49 crore from Rs 3.36 crore. Finance cost was Rs 1.47 crore, compared with Rs 1.28 crore a year earlier, while depreciation and amortisation declined to Rs 1.75 crore from Rs 2.40 crore.

Purchases of stock-in-trade fell to Rs 5.84 crore from Rs 7.06 crore. Changes in inventories of finished goods, work in progress and stock-in-trade were an expense of Rs 5.04 crore, compared with a negative Rs 77.06 lakh in the September 2025 quarter; this movement accompanied the increase in materials, employee and other costs.

How did Super Tannery’s first-half results compare?

Super Tannery reported consolidated profit after tax of Rs 5.26 crore for the half year ended September 30, 2026, compared with Rs 2.85 crore in the half year ended September 30, 2025. Revenue from operations rose to Rs 154.22 crore from Rs 129.95 crore, and profit before tax increased to Rs 7.16 crore from Rs 4.08 crore.

The September quarter accounted for Rs 2.85 crore of first-half profit after tax, compared with Rs 2.41 crore in the quarter ended June 30, 2026. Revenue from operations increased sequentially from Rs 75.87 crore in the June quarter to Rs 78.35 crore in the September quarter, while profit before tax rose from Rs 3.35 crore to Rs 3.81 crore.

For the six months, cost of materials consumed was Rs 85.57 crore against Rs 73.35 crore a year earlier, while other expenses rose to Rs 35.63 crore from Rs 31.54 crore. Finance cost increased to Rs 2.95 crore from Rs 2.51 crore, depreciation and amortisation declined to Rs 3.70 crore from Rs 4.33 crore, and current tax expense rose to Rs 1.80 crore from Rs 1.30 crore.

What changed in Super Tannery’s balance sheet and cash flow?

Super Tannery’s consolidated total assets stood at Rs 306.43 crore on September 30, 2026, compared with Rs 294.29 crore on March 31, 2026. Current assets rose to Rs 168.51 crore from Rs 157.70 crore, as trade receivables increased to Rs 68.38 crore from Rs 49.17 crore while inventories fell to Rs 57.89 crore from Rs 70.41 crore.

Cash and cash equivalents increased to Rs 5.41 crore at September 30 from Rs 2.79 crore at March 31. Consolidated total equity rose to Rs 115.84 crore from Rs 110.47 crore, while non-current borrowings increased to Rs 13.54 crore from Rs 2.04 crore and short-term borrowings declined to Rs 83.47 crore from Rs 89.88 crore.

The consolidated cash-flow statement recorded net cash generated from operating activities of Rs 3.27 crore for the half year ended September 30, 2026. It recorded Rs 2.80 crore used in investing activities, including Rs 3.22 crore spent on property, plant and equipment, while the financing section showed Rs 2.15 crore after Rs 11.51 crore of net long-term loan proceeds, Rs 6.41 crore of working-capital loan repayment and Rs 2.95 crore of finance costs paid.

In the operating-cash-flow reconciliation, trade receivables increased by Rs 19.21 crore and inventories decreased by Rs 12.52 crore during the six months. These working-capital movements contributed to cash generated from operations of Rs 4.66 crore before net income taxes paid of Rs 1.39 crore.

Conclusion

Super Tannery’s September-quarter filing shows higher consolidated revenue, a rise in profit before tax to Rs 3.81 crore and profit after tax increasing from Rs 67.75 lakh to Rs 2.85 crore year on year. First-half profit after tax reached Rs 5.26 crore, while revenue growth of 26% in the quarter exceeded the 22% increase in total expenses.

The next results will show whether the sequential improvement from the June 2026 quarter continues. Matters to watch include the Rs 19.21 crore increase in receivables in the half-year cash-flow reconciliation, the rise in non-current borrowings to Rs 13.54 crore, and operating cash generation of Rs 3.27 crore; the filing does not disclose financial guidance, targets or a scheduled operating milestone.