20 Microns LimitedQ2 FY27 Results & Financial Update
20 Microns Limited: Q2 FY27 consolidated results and company financials – revenue ₹238.16 Cr, PAT ₹13.64 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 20 Microns 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
During the second quarter of fiscal year 2027 (Q2 FY27), 20 Microns Limited reported consolidated revenue from operations of INR 238.16 crore, reflecting a sequential contraction of 2.68% compared to INR 244.72 crore recorded in Q1 FY27.
Total consolidated income for the quarter stood at INR 239.47 crore, edging down from INR 246.04 crore in the preceding quarter due to a modest stabilization in top-line demand.
Profit before tax (PBT) before share of net profit of equity accounted investees contracted by 20.41% sequentially to INR 19.46 crore from INR 24.45 crore in Q1 FY27.
Consolidated net profit for the period (PAT) stood at INR 13.64 crore, marking a 23.13% decline over the INR 17.74 crore reported in the previous quarter.
Basic and diluted earnings per share (EPS) for Q2 FY27 dropped to INR 3.87 compared to INR 5.04 in Q1 FY27, reflecting the lower bottom-line profitability during the quarter.
Total comprehensive income for the period, which includes other comprehensive income of INR 53.74 lakh, came in at INR 141.77 crore on a consolidated basis, demonstrating the cushioning effect of other comprehensive items.
01 · Business model
What does 20 Microns do?
20 Microns Limited is a prominent processor and supplier of micronised minerals and specialty chemicals, operating primarily within a single unified segment of micronised minerals.
The company converts raw minerals into fine powders utilized across diverse industrial applications such as paints, plastics, rubber, ceramics, paper, and construction materials.
Its operational footprint is anchored by its registered and corporate offices in Waghodia, Vadodara, Gujarat, supported by a network of domestic subsidiaries, step-down subsidiaries, and international trading entities.
02 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹238.16 Cr | ₹244.72 Cr |
| Total income | ₹239.47 Cr | ₹246.04 Cr |
| Profit before tax | ₹19.46 Cr | ₹24.45 Cr |
| Profit after tax | ₹13.64 Cr | ₹17.74 Cr |
| EPS | ₹3.87 | ₹5.04 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 5.7% 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 8.2% 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 ₹1.31 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 came in at INR 238.16 crore for Q2 FY27, which represents a 2.68% decrease compared to INR 244.72 crore in Q1 FY27.
Other income remained steady at INR 1.31 crore during the quarter, contributing marginally to the total consolidated revenue of INR 239.47 crore.
What drove margins
Cost of materials consumed increased sequentially to INR 132.01 crore in Q2 FY27 from INR 121.37 crore in Q1 FY27, exerting pressure on operating margins.
Changes in inventories of finished goods, stock-in-trade, and work-in-progress showed a negative adjustment of INR 10.03 crore, contrasting with positive inventory accretions in previous quarters.
Employee benefit expenses remained contained at INR 23.33 crore, while other expenses were reported at INR 62.61 crore for the quarter.
04 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company primarily operates in the single business segment of Micronised Minerals; consequently, separate operating segment disclosures under Ind AS 108 are not applicable.
05 · Reported developments
What changed operationally
Total consolidated equity increased to INR 511.38 crore as of September 30, 2026, compared to INR 483.62 crore as of March 31, 2026, driven by retained earnings and reserves.
06 · Pressure points & risks
What is not going smoothly
Consolidated PAT contracted by 23.13% sequentially from INR 17.74 crore in Q1 FY27 to INR 13.64 crore in Q2 FY27, driven by higher raw material consumption costs.
07 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
For the six months ended September 30, 2026, consolidated net cash generated from operating activities stood at INR 24.52 crore, down from INR 52.44 crore in the corresponding period of the previous year.
Net cash used in investing activities for the half-year was INR 57.29 crore, driven by capital expenditure and investments, while net cash used in financing activities amounted to INR 14.55 crore.
Capital allocation & funding
Consolidated finance costs for Q2 FY27 were reported at INR 4.20 crore. Short-term and long-term borrowings remained key components of the company's capital structure as detailed in the balance sheet.
08 · Beyond the numbers
What changed beyond the numbers
Reported update
Statutory Review
The standalone and consolidated financial results for Q2 FY27 were reviewed by statutory auditors Manubhai & Shah LLP and approved by the Board of Directors on October 28, 2026.
09 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations adjusted downward by 2.68% from INR 244.72 crore in Q1 FY27 to INR 238.16 crore in Q2 FY27.
10 · Key Q&A
The quarter, answered directly
What does 20 Microns do?
20 Microns Limited is a prominent processor and supplier of micronised minerals and specialty chemicals, operating primarily within a single unified segment of micronised minerals.
What is the clearest takeaway from Q2 FY27?
During the second quarter of fiscal year 2027 (Q2 FY27), 20 Microns Limited reported consolidated revenue from operations of INR 238.16 crore, reflecting a sequential contraction of 2.68% compared to INR 244.72 crore recorded in Q1 FY27.
What drove revenue or demand?
Revenue from operations came in at INR 238.16 crore for Q2 FY27, which represents a 2.68% decrease compared to INR 244.72 crore in Q1 FY27.
What mattered most for margins or profitability?
Cost of materials consumed increased sequentially to INR 132.01 crore in Q2 FY27 from INR 121.37 crore in Q1 FY27, exerting pressure on operating margins.
What changed operationally beyond the headline numbers?
The standalone and consolidated financial results for Q2 FY27 were reviewed by statutory auditors Manubhai & Shah LLP and approved by the Board of Directors on October 28, 2026.
What are the main pressure points disclosed for the quarter?
Consolidated PAT contracted by 23.13% sequentially from INR 17.74 crore in Q1 FY27 to INR 13.64 crore in Q2 FY27, driven by higher raw material consumption costs.
11 · 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.
12 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Input Cost Trends: Monitor the trajectory of raw material consumption costs and inventory adjustments in subsequent quarters to evaluate margin recovery potential.
- 02
Cash Flow Conversion: Track operating cash flow generation relative to reported net profit as capital expenditure and working capital requirements evolve.
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Use Nivata’s plain-English guides to understand the accounting terms used in this brief before interpreting them.