Bhansali Engineering Polymers LimitedQ2 FY27 Results & Financial Update
Bhansali Engineering Polymers Limited: Q2 FY27 consolidated results and company financials – revenue ₹403.37 Cr, PAT ₹62.46 Cr. Explore reported YoY/QoQ movements, margins, business drivers and management commentary. This page does not provide a rating, target price or investment recommendation.
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Chart · Market context
Bhansali Engineering Polymers price & chart
Quarter overview
Quarterly earnings analysis
For the second quarter of fiscal 2027 ended September 30, 2026, Bhansali Engineering Polymers reported consolidated revenue from operations of INR 403.37 crore, reflecting a sequential contraction compared to the preceding quarter ended June 30, 2026.
Total consolidated income for Q2 FY27 stood at INR 413.08 crore, which includes other income of INR 9.71 crore.
Profit before tax (PBT) for the quarter came in at INR 86.53 crore (or INR 86.86 crore including the share of net profit from the joint venture), while profit after tax (PAT) after accounting for tax expenses settled at INR 62.46 crore.
Basic and diluted earnings per share (EPS) for the quarter were reported at INR 2.51.
The company declared a second interim dividend of Re. 1 per equity share (100% on a face value of Re. 1), bringing the total interim dividend declared for the financial year to date to INR 2 per share.
Management noted supply-chain headwinds and geopolitical disruptions affecting the execution timeline of its ongoing capacity expansion project.
01 · Business model
What does Bhansali Engineering Polymers do?
Bhansali Engineering Polymers Limited operates in the specialized engineering thermoplastics sector, focusing primarily on the manufacture of Acrylonitrile Butadiene Styrene (ABS).
The company maintains two primary manufacturing facilities located at Satnoor in Madhya Pradesh and Abu Road in Rajasthan, serving diverse industrial applications.
Its operational footprint includes a joint venture entity, Bhansali Nippon A & L Private Limited, which contributes to its consolidated financial results.
02 · Historical context
What shaped the business before this quarter
Previously, the company declared a first interim dividend of Re. 1 per share in July 2026.
03 · Financial snapshot
Current quarter vs the available comparable
| Metric | Q2 FY27 | Previous quarter |
|---|---|---|
| Revenue from operations | ₹403.37 Cr | ₹472.15 Cr |
| Total income | ₹413.08 Cr | ₹481.91 Cr |
| Profit before tax | ₹86.53 Cr | ₹90.22 Cr |
| Profit after tax | ₹62.46 Cr | ₹65.60 Cr |
| EPS | ₹2.51 | ₹2.64 |
Financial interpretation
What the reported numbers mean
Profit after tax represented 15.5% 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 21.5% 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 ₹9.71 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
Revenue from operations contracted sequentially to INR 403.37 crore in Q2 FY27 from INR 472.15 crore in Q1 FY27.
What drove margins
PAT margin improved sequentially from 13.89% in Q1 FY27 to 15.48% in Q2 FY27, reflecting improved cost adjustments despite lower top-line volume.
05 · Segments, products & geography
Which parts of the business are doing the work
Segments and products
The company operates in a single primary business segment defined as Highly Specialized Engineering Thermoplastics.
06 · Capacity, projects & execution
What is being built, commissioned or delivered
Capacity, production and utilisation
The expansion plan to enhance ABS production capacity from 75,000 TPA to 100,000 TPA with an estimated cost of INR 200 crore faced delays due to global geopolitical disturbances including the Gulf War and Russia-Ukraine war.
Imported equipment deliveries experienced delays due to shipping container shortages, foreign supplier service engineers faced visit scheduling difficulties, and reactor delivery was pushed back due to component supply chain bottlenecks.
Projects, capex and execution
Management reviewed the project implementation plan, re-aligning operational shutdown schedules and construction sequences, and expressed confidence in achieving project completion by the end of March 2027.
07 · Reported developments
What changed operationally
The Board declared a second interim dividend of Re. 1 per share, taking total interim dividends for FY27 to INR 2 per share.
08 · Pressure points & risks
What is not going smoothly
Geopolitical conflicts and supply chain constraints pushed back reactor delivery to November 2026 and deferred overall capacity expansion completion to March 2027.
09 · Cash flow & balance sheet
Profit is one thing. Cash and funding tell another part of the story.
For the half year ended September 30, 2026, net cash flow used in operating activities stood at INR 23.67 crore.
Net cash used in financing activities for the half year was INR 49.77 crore, entirely attributable to dividend payouts on equity shares.
10 · Management guidance & targets
What management is targeting from here
Management stated confidence in achieving the completion of the ABS capacity expansion project to 100,000 TPA by the end of March 2027.
11 · Beyond the numbers
What changed beyond the numbers
Dividend Record Date
The Board fixed Saturday, October 24, 2026, as the record date for the second interim dividend, with payment scheduled on or before November 17, 2026.
12 · Previous-quarter changes
What changed since the previous quarter
Revenue from operations decreased from INR 472.15 crore in Q1 FY27 to INR 403.37 crore in Q2 FY27.
13 · Key Q&A
The quarter, answered directly
What does Bhansali Engineering Polymers do?
Bhansali Engineering Polymers Limited operates in the specialized engineering thermoplastics sector, focusing primarily on the manufacture of Acrylonitrile Butadiene Styrene (ABS).
What is the clearest takeaway from Q2 FY27?
For the second quarter of fiscal 2027 ended September 30, 2026, Bhansali Engineering Polymers reported consolidated revenue from operations of INR 403.37 crore, reflecting a sequential contraction compared to the preceding quarter ended June 30, 2026.
What drove revenue or demand?
Revenue from operations contracted sequentially to INR 403.37 crore in Q2 FY27 from INR 472.15 crore in Q1 FY27.
What mattered most for margins or profitability?
PAT margin improved sequentially from 13.89% in Q1 FY27 to 15.48% in Q2 FY27, reflecting improved cost adjustments despite lower top-line volume.
What changed operationally beyond the headline numbers?
The expansion plan to enhance ABS production capacity from 75,000 TPA to 100,000 TPA with an estimated cost of INR 200 crore faced delays due to global geopolitical disturbances including the Gulf War and Russia-Ukraine war.
What is management guiding or targeting from here?
Management stated confidence in achieving the completion of the ABS capacity expansion project to 100,000 TPA by the end of March 2027.
14 · Scenario calculator
Earnings sensitivity: what if growth and margins change?
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15 · Next filing checkpoints
What the next disclosure can confirm or change
- 01
Expansion Progress in November 2026: Monitor the expected delivery of the assembly reactor scheduled for November 2026.
- 02
Project Completion Milestone: Track progress toward the revised target completion date of March 2027 for the 100,000 TPA ABS capacity expansion.
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