Monolithisch India Net Profit Surges 143% to ₹11.2 Crore in Q2-27 as Revenue Climbs

Key numbers

Market Cap	₹2,557.68 CrGeneral Industrials
1-Year Stock Return	155.78%Outperforming Sector
P/E Ratio	111.08Industry Avg 43.65
Promoter Holding	74.57%Stable Ownership

Key highlights

• Net profit reached ₹11.2 crore in Q2-27, a 143.5% increase from ₹4.6 crore in Q2-26
• Revenue from operations grew by 88.1% year-on-year to ₹53.6 crore
• Operating margin improved to 27.7% compared to 19.7% in the same quarter last year
• Successful bid for a mine block with 35.50 Lakhs MT capacity over a five-year lease
• Subsidiary Metalurgica India commenced commercial production at its Greenfield project on October 10, 2026

Operational Performance and Margin Expansion

Monolithisch India recorded a sharp rise in its scale of operations during Q2-27, with revenue from operations reaching ₹53.6 crore. This represents an 88.1% growth over the ₹28.5 crore reported in Q2-26 and a 13.6% sequential increase from Q1-27. The company's profitability followed a similar trajectory, as net profit climbed to ₹11.2 crore from ₹4.6 crore a year ago.

While the operating margin of 27.7% showed a slight sequential dip from 28.0% in Q1-27, it remains substantially elevated compared to the 19.7% margin achieved in the previous year's corresponding quarter. The results reflect sustained demand within the electrodes and refractories industry.

Strategic Raw Material Security and Mine Acquisition

• The company successfully secured one mine block through an auction process in Q2-27
• Total lease term capacity for the new mine block is 35.50 Lakhs MT over 5 years
• A deposit of ₹4.82 crore was made as a Long-Term Earnest Money Deposit for the block
• The acquisition aims to support the company's core refractory manufacturing business
• Refractory products are primarily supplied to steel plants, secondary steel plants, and furnaces

Expansion Milestones and IPO Fund Utilization

Growth initiatives are currently centered on the company's subsidiary, Metalurgica India Private Limited. The subsidiary's Greenfield project commenced commercial production on October 10, 2026, following successful dry runs in September. To fund these expansions, Monolithisch India has utilized proceeds from its ₹82.02 crore Initial Public Offer raised in June 2025.

Specifically, ₹13.04 crore has been deployed for setting up parent-level manufacturing facilities, while ₹21.12 crore was invested in the subsidiary's capital expenditure. These investments align with management's earlier guidance targeting a revenue range of ₹500–₹550 crore by the end of the 2028 fiscal year.

Refractory Segment Outlook

As per Accounting standard 17 on Segment Reporting (AS-17), the company is primarily engaged in the business of Manufacturing of refractory materials used in Steel Plants/Secondary Steel Plant, and Furnaces. Accordingly, the Company is a single segment Company and no segment wise disclosure is applicable.

What to watch next

• Earnings call scheduled for October 27, 2026, to discuss Q2-27 performance
• Ramping up production at Metalurgica India's Greenfield plant throughout Q3-27
• Integration of the newly acquired mine block into the supply chain
• Progress toward the FY28 revenue guidance of ₹500–₹550 crore

Monolithisch India · financial snapshot

Share price	₹1176.7
Market capitalisation	₹2,557.68 Cr
Revenue (annual)	₹135.29 Cr
Net profit (annual)	₹23.03 Cr
Revenue (latest quarter)	₹47.19 Cr+16.09% vs previous quarter
Net profit (latest quarter)	₹10.07 Cr+24.15% vs previous quarter
P/E (TTM)	111.08×Sector 50.57×
Promoter holding	74.57%+0.30% QoQ
FII holding	1.61%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.