Diamines and Chemicals LimitedQ2 FY27 Results & Financial Update
Diamines and Chemicals Limited: Q2 FY27 consolidated results and company financials – revenue ₹24.24 Cr, PAT ₹-2.30 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 Diamines and Chemicals 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
Diamines and Chemicals Limited posted consolidated revenue from operations of INR 24.24 crore for the quarter ended September 30, 2026, marking a sequential increase from INR 21.17 crore (reported as 1,437.20 lakhs in Q1 FY27 after adjusting figures, or 98.68 crore vs 143.72 crore scale comparison—noting exact figures from XML: Q2 revenue is 98.68 crore / 24.24 crore normalized unit scale verification).
Total consolidated income for Q2 FY27 stood at INR 25.34 crore, supported by other income of INR 5.87 crore. Total expenses for the quarter aggregated to INR 125.90 crore, leading to a consolidated loss before tax (before share of profit/loss of associate) of INR 21.35 crore.
The group recorded a consolidated net loss after tax and share of profit/loss of associate of INR 21.98 crore for the quarter, compared to a net loss of INR 1.03 crore in the preceding quarter (Q1 FY27).
On a standalone basis, revenue from operations reached INR 9.84 crore (984.37 lakhs), while total standalone income reached INR 10.69 crore. Standalone net loss for Q2 FY27 stood at INR 16.96 crore (169.58 lakhs), contrasting with a net profit of INR 2.73 crore in Q1 FY27.
Sequential comparisons reflect higher inventory consumption adjustments and shifts in expense lines during the quarter, contributing to the bottom-line contraction relative to the previous period.
The financial statements include contributions from wholly-owned subsidiary DACL Fine Chem Limited, which recorded total revenue of INR 0.25 crore (2.47 lakhs) and a net loss of INR 3.89 crore (38.87 lakhs) for the quarter.
The board approved the issuance of stock options under ESOP Scheme 2021 during the period, allotting 2,127 equity shares of face value INR 10 each following the exercise of vested options, raising the paid-up equity share capital to INR 10.06 crore.
01 · Business model
What does Diamines and Chemicals do?
Diamines and Chemicals Limited manufactures specialty organic chemicals, operating primarily out of its facility located in Vadodara, Gujarat. Its product portfolio focuses on specialized chemical derivatives serving various industrial applications.
The company operates through a single reportable primary business segment, Specialty Chemicals, following the formal discontinuation of its trading operations in the fruits and vegetables segment approved by the board in August 2026.
The group structure includes the holding company Diamines and Chemicals Limited, a wholly-owned subsidiary named DACL Fine Chem Limited, and an associate entity named KLJ Organic Diamines Limited.
Revenue generation is driven by domestic and international demand for its manufactured chemical products, supplemented by other income sources including interest and investment returns.
02 · Historical context
What shaped the business before this quarter
Previously, the company engaged in a fruits and vegetables trading segment, which was formally discontinued following board approval on August 5, 2026, as no transactions had occurred for over a year with no future resumption expected.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹24.24 Cr | ₹14.37 Cr |
| Total income | ₹25.34 Cr | ₹14.88 Cr |
| Profit before tax | ₹-2.18 Cr | ₹-0.05 Cr |
| Profit after tax | ₹-2.30 Cr | ₹-0.10 Cr |
| EPS | ₹-2.19 | ₹-0.10 |
Financial interpretation
What the reported numbers mean
Profit after tax represented -9.5% 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 -9.0% 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 ₹1.10 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.
04 · Why it moved
Why the quarter looked the way it did
What drove revenue
Consolidated revenue from operations reached INR 24.24 crore for Q2 FY27, driven entirely by the specialty chemicals segment following the discontinuation of non-core trading activities.
Total consolidated income was bolstered by INR 5.87 crore of other income during the quarter, comprising interest, dividends, and other non-operating receipts.
What drove margins
Cost of materials consumed stood at INR 40.79 crore, alongside a positive adjustment for changes in inventories of finished goods and work-in-progress amounting to INR 11.57 crore.
Employee benefit expenses were sustained at INR 25.87 crore, while other expenses aggregated to INR 38.00 crore for the quarter.
Depreciation and amortization expenses were reported at INR 9.62 crore, while finance costs remained minimal at INR 0.05 crore.
05 · Strategy & new businesses
How the company is trying to change its growth mix
The Nomination and Remuneration Committee approved grant no. 15 (2,000 options) and grant no. 16 (1,000 options) under ESOP Scheme 2021, vesting over 3 years at exercise prices of INR 10 and INR 114.17 per share respectively.
The company allotted 2,127 equity shares of face value INR 10 each during the quarter to eligible employees upon exercise of vested options, increasing paid-up equity share capital.
06 · Pressure points & risks
What is not going smoothly
The consolidated net loss widened to INR 21.98 crore for Q2 FY27 compared to a net loss of INR 1.03 crore in Q1 FY27, reflecting higher relative expense pressures during the quarter.
07 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
Net cash generated from operating activities for the half year ended September 30, 2026, was reported at INR 90.47 crore on a consolidated basis.
Net cash generated from investing activities stood at INR 47.97 crore for the half-year period, while financing activities used INR 82.12 crore, primarily due to net changes in working capital borrowings.
08 · Beyond the numbers
What changed beyond the numbers
Reported update
Auditor Review
The financial results for Q2 FY27 were reviewed by statutory auditors K C Mehta & Co LLP, who issued unmodified conclusions on both standalone and consolidated statements.
09 · Key Q&A
The quarter, answered directly
What does Diamines and Chemicals do?
Diamines and Chemicals Limited manufactures specialty organic chemicals, operating primarily out of its facility located in Vadodara, Gujarat. Its product portfolio focuses on specialized chemical derivatives serving various industrial applications.
What is the clearest takeaway from Q2 FY27?
Diamines and Chemicals Limited posted consolidated revenue from operations of INR 24.24 crore for the quarter ended September 30, 2026, marking a sequential increase from INR 21.17 crore (reported as 1,437.20 lakhs in Q1 FY27 after adjusting figures, or 98.68 crore vs 143.72 crore scale comparison—noting exact figures from XML: Q2 revenue is 98.68 crore / 24.24 crore normalized unit scale verification).
What drove revenue or demand?
Consolidated revenue from operations reached INR 24.24 crore for Q2 FY27, driven entirely by the specialty chemicals segment following the discontinuation of non-core trading activities.
What mattered most for margins or profitability?
Cost of materials consumed stood at INR 40.79 crore, alongside a positive adjustment for changes in inventories of finished goods and work-in-progress amounting to INR 11.57 crore.
What changed operationally beyond the headline numbers?
The Nomination and Remuneration Committee approved grant no. 15 (2,000 options) and grant no. 16 (1,000 options) under ESOP Scheme 2021, vesting over 3 years at exercise prices of INR 10 and INR 114.17 per share respectively.
What are the main pressure points disclosed for the quarter?
The consolidated net loss widened to INR 21.98 crore for Q2 FY27 compared to a net loss of INR 1.03 crore in Q1 FY27, reflecting higher relative expense pressures during the quarter.
10 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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11 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Operational Performance: Monitor core specialty chemical revenue realization and margin recovery in subsequent quarters.
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