Hindustan Composites Q2 FY27: PAT ₹868 Cr & Rev ₹2,005 Cr

Investor Takeaways

Revenue of ₹2,005 Cr reported for Q1 FY26, up from ₹81.83 Cr in Q3 FY25

Net profit of ₹868 Cr recorded in Q1 FY26, compared to ₹10.97 Cr in Q3 FY25

Proposed INR 370 Cr slump sale of friction business to Rane (Madras) Limited disclosed

No dividend payment made despite board approval for Q1 FY26 results

Market Cap stands at ₹620.74 Cr with P/E ratio of 16.82

Key Financial Highlights

Metric	Value	YoY Change
Revenue	₹2005 Cr	1453.5%
Net Profit	₹868 Cr	7778.6%
EBITDA	Not available	Not available
EPS	Not available	Not available
OPM	Not available	Not available

What Changed

The filing reveals a significant shift in scale, with Q1 FY26 revenue reaching ₹2,005 Cr compared to ₹81.83 Cr in the previous quarter (Q3 FY25), representing a 1453.5% sequential increase. Net profit also surged to ₹868 Cr from ₹10.97 Cr in Q3 FY25, a 7778.6% rise. This growth appears linked to the proposed transfer of the friction business, though the filing does not specify the impact of this transaction on current quarter results. The company reported no dividend payment despite board approval, with the proposed INR 370 Cr slump sale pending shareholder approval. The market capitalization of ₹620.74 Cr and P/E ratio of 16.82 provide context for valuation but do not reflect the current quarter's scale.

Peer Comparison

Company	P/E	ROE	ROCE	Market Cap (₹ Cr)
Hindustan Composites	16.82	Not available	Not available	620.74
TVS Motor Company	393.51	N/A	N/A	823516
Maruti Suzuki	27.84	15.51	19.82	415671.64
Mahindra & Mahindra	22.17	20.41	14.57	388366.49

Hindustan Composites trades at a lower P/E multiple compared to Maruti Suzuki (27.84) and Mahindra & Mahindra (22.17), but significantly below TVS Motor (393.51), though peer metrics vary in availability.

Risks & Concerns

No specific risks identified in this filing

Proposed business transfer pending shareholder approval

No dividend payment made despite board approval

Quarterly Trend

Quarter	Revenue (₹ Cr)	Net Profit (₹ Cr)	OPM%
Q3FY25	81.83	10.97	19.72
Q2FY25	76.95	9.29	16.78
Q1FY25	77.15	8.67	17.55
Q4FY24	78.57	7.97	15.6

The Q1 FY26 revenue of ₹2,005 Cr and net profit of ₹868 Cr represent a substantial increase from the prior quarter's ₹81.83 Cr revenue and ₹10.97 Cr profit, though the filing does not clarify the relationship between the proposed business transfer and these results. The trend shows consistent quarterly growth in revenue and profit leading up to Q1 FY26.

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