Indo Count Industries (521016) Q2 26/27 earnings summary

Executive summary

• Record Q2 FY27 total income of INR 1,699 crore and EBITDA of INR 259 crore; market-share gains, higher customer wallet share, branded growth and efficiencies supported results.

• Management expects to exceed FY27 total-income and EBITDA guidance, citing H1 momentum and growing contributions from newer businesses.

Financial highlights

• Q2 total income rose 57% YoY to INR 1,699 crore; H1 total income increased 43% to INR 2,923 crore. Consolidated revenue was INR 1,672.65 crore in Q2 and INR 2,879.62 crore in H1.

• Q2 EBITDA was INR 259 crore, up 111% YoY; H1 EBITDA was INR 420 crore.

• Q2 PAT was INR 131.88 crore; H1 PAT was INR 195.10 crore, up 150% YoY.

• Q2 EPS was INR 6.66 versus INR 1.97; H1 EPS was INR 9.85 versus INR 3.94.

Outlook and guidance

• FY27 guidance: 105–110 million metres and INR 5,500 crore total income; H1 volume was 51 million metres and total income was INR 2,923 crore. Management expects to exceed income and EBITDA guidance.

• FY27 EBITDA-margin guidance is 13%; H1 margin reached 14.4%, and management indicated a 14%–15% FY margin could be achieved.

• Non-U.S. revenue is expected to grow over 20% in FY27; the branded business targets US$100 million by CY28, while utility capacity is targeted for full utilization by then.

• Revenue ambition remains INR 8,000 crore by CY28, doubling the FY25 base of INR 4,000 crore; no updated long-term margin target was set.