Usha Martin Q2 FY27 Net Profit Rises 17.8% to ₹129 Crore

Usha Martin Ltd reported consolidated net profit of ₹129.28 crore for Q2 FY27, a 17.8% increase from a year earlier, while revenue from operations rose 12.4% to ₹1,000.01 crore for the quarter ended September 30, 2026. The result shows higher year-on-year revenue and profit, although both declined sequentially from Q1 FY27.

What did Usha Martin report for Q2 FY27?

Usha Martin reported consolidated total income of ₹1,010.52 crore in Q2 FY27, compared with ₹912.30 crore in Q2 FY26. Revenue from operations was ₹1,000.01 crore, while other income stood at ₹10.51 crore. Profit before tax from continuing operations was ₹179.30 crore.

The company recorded a total tax expense of ₹43.63 crore. Profit after tax from continuing operations was ₹135.67 crore, but a ₹6.39 crore loss from discontinued operations reduced profit for the period to ₹129.28 crore. Total comprehensive income was ₹149.31 crore. Basic earnings per share, including continuing and discontinued operations, was ₹4.23.

How did the quarterly performance compare with Q1 FY27?

Usha Martin's revenue from operations declined 2.1% sequentially from ₹1,021.10 crore in Q1 FY27 to ₹1,000.01 crore in Q2 FY27. Total income decreased 1.8% from ₹1,029.40 crore in the preceding quarter, reflecting lower revenue and a modest increase in other income from ₹8.30 crore to ₹10.51 crore.

Net profit was 8.9% lower than the ₹142.00 crore reported in Q1 FY27. Profit before tax also declined from ₹184.40 crore to ₹179.30 crore. The reported operating margin was 17.7% in Q2 FY27, marginally below 17.9% in Q1 FY27 and 18.5% in Q2 FY26. No exceptional item was reported for the quarter.

What do the standalone results show?

Usha Martin's standalone revenue from operations was ₹634.13 crore in Q2 FY27, while standalone profit for the period was ₹102.02 crore. Standalone basic earnings per share stood at ₹3.35 for the quarter.

Standalone total income was reported at ₹649.41 crore, up 27.1% year on year and 1.3% sequentially. The supplied results summary showed standalone basic EPS rising from ₹2.61 in Q2 FY26 and ₹3.20 in Q1 FY27. Consolidated figures, however, remain the broader measure because they include the financial performance of subsidiaries.

What disclosures accompanied Usha Martin's results?

Usha Martin's board approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, under the applicable SEBI listing regulations. The company had also scheduled its Q2 and H1 FY27 earnings conference call for November 13, 2026 at 5:00 PM IST.

The auditors issued an unmodified review conclusion. Their review drew attention to ongoing Enforcement Directorate and Central Bureau of Investigation proceedings involving attached land in Ranchi. Management stated that no adjustment was necessary in the financial statements in relation to this matter. The available disclosure does not provide a financial estimate of any potential impact from the proceedings.

How do the results matter for investors and operations?

The quarter reflects year-on-year growth in the consolidated top line and profit. Revenue increased by about ₹110.41 crore from Q2 FY26, while net profit increased by about ₹19.48 crore. The improvement in profit exceeded revenue growth on a percentage basis, even as the reported operating margin was lower than the prior-year level.

For investors, the sequential comparison provides an additional context. Revenue, profit before tax and net profit were all lower than in Q1 FY27, while finance costs were reported at ₹4.21 crore, down 17.3% year on year. The disclosed numbers do not include a formal outlook, demand forecast, capital-allocation update or earnings guidance. Investors therefore have to assess future performance through subsequent filings and management commentary.

Conclusion

Usha Martin delivered consolidated Q2 FY27 revenue of ₹1,000.01 crore and net profit of ₹129.28 crore, with year-on-year growth of 12.4% and 17.8%, respectively. The result also included a loss from discontinued operations, which lowered reported profit from the continuing-operations figure of ₹135.67 crore.

The next disclosed event is the company's Q2 and H1 FY27 earnings conference call scheduled for November 13, 2026. Investors will also watch subsequent disclosures for management's operational commentary, any outlook for the second half, and developments relating to the Ranchi land proceedings noted in the audit review.