Sahyadri Q2 FY27 standalone PAT up 353% YoY to ₹12.3 Cr, NPM triples to 8.3%

Sahyadri Industries' standalone PAT for Q2 FY27 (quarter ended 30 September 2026) rose 353% year-on-year to ₹12.28 Cr from ₹2.71 Cr, with revenue from operations up 17.5% YoY to ₹146.79 Cr from ₹124.96 Cr — a clean, one-off-free print, since neither this quarter nor the year-ago quarter carried any exceptional item, so the reported and adjusted YoY growth numbers are the same. Net profit margin nearly quadrupled to 8.27% from 2.15% and operating margin (EBITDA excluding other income, over revenue) expanded to 14.07% from 7.15% a year earlier. On a half-year basis H1 FY27 PAT is ₹38.80 Cr against ₹13.48 Cr in H1 FY26, up 188% YoY.

The margin expansion is broad-based rather than driven by a single line: cost of materials net of inventory movement eased to roughly 48.7% of revenue from about 51.6% a year ago, employee cost fell to 8.4% of revenue from 9.3%, and other expenditure fell to 28.8% of revenue from 32.0% — all pointing to better cost absorption as volumes recovered from a weak year-ago base. By segment, Building Material PBIT jumped to ₹12.22 Cr from ₹1.50 Cr YoY on ₹143.14 Cr of segment revenue, while Power Generation contributed ₹3.37 Cr PBIT (vs ₹2.75 Cr) on ₹6.66 Cr revenue — the core building-material business drove nearly all of the YoY profit gain.

The stock went into the print at ₹315.1, down 9.7% over the past month of trading.

For context: this is the second-highest quarterly PAT of the last 6 quarters.

EPS (basic, not annualised) ₹11.22 vs ₹2.48 YoY and ₹24.22 QoQ

Sequentially, revenue fell 43.2% and PAT fell 53.7% versus Q1 FY27 (₹258.58 Cr revenue, ₹26.52 Cr PAT), with NPM easing to 8.27% from 10.15% and OPM to 14.07% from 15.10% quarter-on-quarter. For a roofing-sheet and building-material maker this is a seasonal pattern — Q1 (April-June) is the peak pre-monsoon construction season and Q2 (July-September) the monsoon lull — and should not be read as a deterioration; the YoY comparison is the more reliable signal here. Management gives no formal guidance or outlook on record, and no press release accompanying this result was available to cross-check management's own framing of the quarter. Analyst coverage of the stock is thin (reportedly around two analysts); a web check found no quarter-specific consensus estimate for Q2 FY27, only generic secondary-source commentary citing an implied ~15-20% full-year FY27 PAT growth expectation tied to broader sector re-rating — not a verified quarterly print estimate, so vsStreet is recorded as unknown rather than guessed.