T N Petro Prod. Q2 FY27 Results (NSE: TNPETRO)
Signal: Growth reaccelerated
The read
Q2FY27 marks a sharp scale-up, with revenue up 101.1% YoY to ₹941.63 crore and PAT up 95.0% to ₹62.54 crore, extending Q1FY27's rebound; however, EBITDA margin at 11.65% was 427bps below Q1FY27, so the key trajectory question is whether the H1 margin expansion to 13.59%, up 243bps YoY, can be sustained as volumes grow.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹941.63 Cr | +101.1% | +20.1% |
| Net profit | ₹62.54 Cr | +95.0% | |
| EBIT margin | 11.65% |
P&L walk
The release references consolidated results but provides no consolidated P&L table or figures.
Key positives
- Revenue increased 101.1% YoY to ₹941.63 crore and 20.1% sequentially, indicating a substantial recovery in quarterly scale.
- EBITDA rose 110.5% YoY to ₹109.71 crore, ahead of revenue growth by 9.4 percentage points, while EBITDA margin expanded 52bps YoY to 11.65%.
- H1FY27 revenue of ₹1,725.80 crore grew 84.3% YoY and H1 EBITDA of ₹234.55 crore grew 124.3%, lifting H1 EBITDA margin by 243bps YoY to 13.59%.
- The company reported no exceptional expense in Q2FY27, compared with a ₹0.32 crore expense in Q2FY26.
Key concerns
- Sequential momentum was less profitable: revenue rose 20.1% from Q1FY27, but EBITDA fell 12.1% and EBITDA margin declined 427bps to 11.65%.
- PAT declined 19.7% sequentially to ₹62.54 crore despite higher revenue, indicating that Q1FY27's profitability level was not maintained.
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