Bhageria Industries Q2 FY27: consol. PAT +386% YoY to ₹55.7 Cr, margins expand sharply
PAT +385.94% YoY · revenue +122.97% · margins expanding
₹455.7 Cr
+122.97% YoY
₹55.75 Cr
+385.94% YoY
12.13%
+6.6pp YoY
₹12.81
Bhageria Industries' consolidated revenue for Q2 FY27 came in at ₹455.7 Cr, up 122.97% YoY from ₹204.4 Cr and 59.11% QoQ from ₹286.4 Cr, with consolidated PAT (profit for the period) of ₹55.75 Cr against ₹11.47 Cr a year ago (+385.94% YoY) and ₹33.91 Cr last quarter (+64.39% QoQ). EPS was ₹12.81 versus ₹2.70 YoY. Standalone PAT of ₹58.29 Cr runs about 4.4% ahead of the consolidated figure — the Group's six subsidiaries (two solar-power entities, a pharma JV, a rare-earth minerals unit and others) posted a combined net loss of ₹2.11 Cr for the quarter per the auditor's review report, pulling the consolidated print below standalone.
Q2 FY-2027 vs prior quarters
The growth is driven almost entirely by the Chemicals segment: standalone segment revenue nearly doubled YoY to ₹446.68 Cr from ₹197.47 Cr, and segment profit (PBIT) more than quadrupled to ₹80.37 Cr from ₹19.78 Cr. That flowed straight through to margins — consolidated NPM expanded to 12.13% from 5.57% YoY (11.23% last quarter), and OPM (EBITDA/revenue) rose to roughly 18.58% from 11.30% YoY (14.68% last quarter), indicating strong operating leverage from a chemicals price/volume recovery rather than a one-off gain. Neither statement carries an exceptional item, so the growth reads as organic.
The stock went into the print at ₹333.45, down 15.3% over the past month of trading.
For context: this is the highest quarterly PAT in the last 6 quarters on our records; PAT has now risen for 3 consecutive quarters; revenue is at a 6-quarter high.
There is no usable street benchmark for this print: TipRanks lists only one tracking analyst with no revenue or EPS estimates filed, so vsStreet is unknown, and the company has issued no formal guidance in our records, so vsGuidance is also unknown; no management press release was available to cross-check framing. Among the quarter's disclosed developments, the one unrelated to operating performance is the ongoing SEBI order challenge, which SAT adjourned to January 5, 2027 — a governance overhang that doesn't show up in these numbers but remains unresolved.
W1
Sustainability of chemicals segment OPM (~18.58% this quarter vs 11.30% a year ago) into Q3 FY27, with no formal guidance on record
W2
NCI drag from loss-making subsidiaries (₹2.11 Cr quarterly, ₹3.59 Cr H1 combined loss) — whether solar/pharma/rare-earth units narrow losses as they scale
W3
Outcome of the SEBI order challenge at SAT, adjourned to Jan 5, 2027
Converted from ₹ Lakhs. Standalone tax sub-lines (current/deferred/earlier-years) print but don't additively reconcile to PBT-PAT; used total tax = PBT-PAT (equals the 'Current tax' row in every column, consistent across all 6 periods). Consolidated PAT uses 'Profit for the period' (total, ₹55.75 Cr), matching our DB's historical methodology exactly for prior quarters; owners'-share profit was ₹55.92 Cr (NCI loss ₹0.18 Cr) due to 6 loss-making subsidiaries.