Gallantt Ispat LimitedQ2 FY27 Results & Financial Update
Gallantt Ispat Limited: Q2 FY27 consolidated results and company financials – revenue ₹1,145.89 Cr, PAT ₹60.51 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
Quarter at a glanceCurrent reported figures.Change figures appear when a comparable reported period is available.
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Quarterly Results AnalysisExplore Gallantt Ispat Q2 FY27 quarterly results and earnings: revenue, profit (PAT), EBITDA, margins, YoY and QoQ growth, order book or business updates where reported, financial performance and management commentary. Reported figures and Nivata calculations are shown separately; no buy, sell or hold recommendation is provided.
Quarter overview
Quarterly earnings analysis
Gallantt Ispat Limited reported consolidated revenue from operations of INR 1,145.89 crore for the quarter ended September 30, 2026, holding virtually flat compared to INR 1,145.67 crore in the preceding quarter (Q1 FY27).
Total income for Q2 FY27 stood at INR 1,164.04 crore, reflecting stable top-line generation supported by consistent operational scale across its manufacturing plants.
Profit before tax (PBT) for the quarter contracted sequentially to INR 83.17 crore from INR 164.81 crore in Q1 FY27, representing a decrease of approximately 49.53% due to shifting margin dynamics and cost pressures.
Profit after tax (PAT) followed a similar trajectory, settling at INR 60.51 crore for Q2 FY27 compared to INR 123.67 crore in the previous quarter, a decline of 51.07%.
Basic earnings per share (EPS) for the quarter stood at INR 2.51, down from INR 5.13 in the preceding quarter, reflecting the lower bottom-line profitability.
Total tax expenses for the period were recorded at INR 22.66 crore, down from INR 41.15 crore in Q1 FY27, aligning with the reduction in pre-tax earnings.
Depreciation and amortization expenses for the quarter rose to INR 35.51 crore compared to INR 30.11 crore in the previous quarter, indicating ongoing capital asset utilization and additions.
01 · Business model
What does Gallantt Ispat do?
Gallantt Ispat Limited operates primarily in the metals and steel manufacturing sector, producing structural steel, TMT bars, and related metallurgical products that serve construction, infrastructure, and industrial applications.
The company's integrated business model spans raw material processing, primary metal manufacturing, and finished steel production, allowing it to capture value across multiple stages of the steel value chain.
Commercial operations rely heavily on regional distribution networks across key domestic markets, supported by captive power and manufacturing facilities designed to optimize input costs and plant utilization.
Revenue generation is driven by domestic demand for steel products, with performance closely tied to broader construction activity, industrial capital expenditure cycles, and raw material price fluctuations.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹1,145.89 Cr | ₹1,145.67 Cr |
| Total income | ₹1,164.04 Cr | ₹1,163.98 Cr |
| Profit before tax | ₹83.17 Cr | ₹164.81 Cr |
| Profit after tax | ₹60.51 Cr | ₹123.67 Cr |
| EPS | ₹2.51 | ₹5.13 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 5.3% of reported quarterly operating revenue. This is a calculated net-profit-to-sales ratio, not a company-reported operating margin. It measures the outcome after expenses and tax; it does not, by itself, establish how margins changed versus another period.
Profit before tax was equivalent to 7.3% of quarterly operating revenue. The distinction between pre-tax and post-tax profit matters when interpreting earnings; neither ratio identifies an underlying cost driver without a properly matched comparative period.
Total income exceeded operating revenue by ₹18.15 crore. This is the disclosed difference between the two lines, not incremental sales. The distinction matters when assessing how much of the quarter’s reported income came from the operating top line.
Ratios above are calculated from the reported quarterly figures. They are analytical descriptions, not company-reported margin guidance or an investment recommendation.
03 · Why it moved
Why the quarter looked the way it did
What drove revenue
Revenue from operations remained virtually unchanged sequentially at INR 1,145.89 crore in Q2 FY27 compared to INR 1,145.67 crore in Q1 FY27, demonstrating steady volume off-take despite broader sectoral price volatility.
Other income contributed INR 18.15 crore to the top-line during Q2 FY27, remaining stable compared to INR 18.31 crore in the preceding quarter.
The company reported interest income of INR 35.30 crore for the quarter ended September 30, 2026.
What drove margins
PAT margin narrowed significantly from 10.79% in Q1 FY27 to 5.28% in Q2 FY27, representing a contraction of 551 basis points, driven by higher operating and financing overheads relative to top-line growth.
Finance costs increased to INR 9.17 crore in Q2 FY27 from INR 8.47 crore in the previous quarter, adding incremental pressure to the bottom-line.
Depreciation and amortization expense increased sequentially to INR 35.51 crore, reflecting asset capitalization and ongoing plant operations.
04 · Reported developments
What changed operationally
Maintained operational revenue above INR 1,145 crore on a sequential basis, demonstrating consistent market demand for its steel products.
05 · Pressure points & risks
What is not going smoothly
Both PBT and PAT experienced sharp sequential declines of over 49% and 51% respectively, driven by margin compression and higher provisioning.
06 · Items worth noticing
The line items that can distort a quick read
The company recorded provisions of INR 2.80 crore during the quarter ended September 30, 2026.
07 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Reporting Scope
Financial results for Q2 FY27 were submitted on a consolidated basis under Indian Accounting Standards (Ind AS), incorporating all subsidiary operations.
08 · Previous-quarter changes
What changed since the previous quarter
Compared to Q1 FY27, Q2 FY27 saw a moderation in net profitability, with PAT declining from INR 123.67 crore to INR 60.51 crore despite stable revenue realization.
09 · Key Q&A
The quarter, answered directly
What does Gallantt Ispat do?
Gallantt Ispat Limited operates primarily in the metals and steel manufacturing sector, producing structural steel, TMT bars, and related metallurgical products that serve construction, infrastructure, and industrial applications.
What is the clearest takeaway from Q2 FY27?
Gallantt Ispat Limited reported consolidated revenue from operations of INR 1,145.89 crore for the quarter ended September 30, 2026, holding virtually flat compared to INR 1,145.67 crore in the preceding quarter (Q1 FY27).
What drove revenue or demand?
Revenue from operations remained virtually unchanged sequentially at INR 1,145.89 crore in Q2 FY27 compared to INR 1,145.67 crore in Q1 FY27, demonstrating steady volume off-take despite broader sectoral price volatility.
What mattered most for margins or profitability?
PAT margin narrowed significantly from 10.79% in Q1 FY27 to 5.28% in Q2 FY27, representing a contraction of 551 basis points, driven by higher operating and financing overheads relative to top-line growth.
What changed operationally beyond the headline numbers?
Financial results for Q2 FY27 were submitted on a consolidated basis under Indian Accounting Standards (Ind AS), incorporating all subsidiary operations.
What are the main pressure points disclosed for the quarter?
Both PBT and PAT experienced sharp sequential declines of over 49% and 51% respectively, driven by margin compression and higher provisioning.
10 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
Starting point
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Example: enter 10 for 10% revenue growth. Enter -100 for a 1 percentage-point margin decline.
Scenario output
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The calculator holds the selected margin basis constant except for the basis-point adjustment you enter. It does not estimate tax, finance cost, dilution, working capital, valuation or share price.
11 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Margin Recovery: Monitor subsequent quarters for stabilization in PAT margins following the 551 basis point contraction observed in Q2 FY27.
- 02
Cost and Financing Trends: Track the trajectory of finance costs and depreciation to assess their ongoing impact on net profitability.
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