| PE Ratio | 5.87Sector PE 26.6 |
|---|---|
| Piotroski Score | 7High efficiency |
| Promoter Holding | 50.84%Up 3.5% QoQ |
| RSI | 39.38Neutral zone |
| Metric | Q2-27 | Q1-27 | Q2-26 |
|---|---|---|---|
| Revenue from Operations | 160 | 91.9 | 114 |
| Other Income | 2.0 | 3.1 | 1.0 |
| Total Income | 162 | 95.0 | 115 |
| Profit Before Tax | 32.5 | -1.5 | 17.0 |
| Exceptional Items | 0.0 | 0.0 | 1.5 |
| Net Profit | 21.7 | -1.2 | 14.6 |
| Operating Margin | 20.1% | -1.6% | 14.8% |
| Net Profit QoQ | +1,908.3% | ||
| Net Profit YoY | +48.6% | ||
| Adj. Profit QoQ | +763.0% | ||
| Adj. Profit YoY | +110.3% | ||
Key highlights
- Net profit reached ₹21.7 crore in Q2 FY27, compared to ₹14.6 crore in the same period last year
- Revenue from operations grew to ₹160 crore from ₹114 crore in Q2 FY26
- Sugar segment revenue jumped to ₹145.32 crore, representing 46% year-on-year growth
- Co-generation revenue stood at ₹52.49 crore, though intersegmental revenue adjustments totalled ₹38.25 crore
- Promoter holding increased by 3.5% during the quarter to reach 50.84%
- Operating margin improved to 20.1% for the quarter ended September 2026
- Total comprehensive income for the period was reported at ₹31.41 crore
Sugar and Power Segments Drive Revenue Upside
The company witnessed a substantial expansion in its top line during the September quarter, with total revenue from operations hitting ₹160 crore. The sugar segment remains the primary driver, generating ₹145.32 crore in revenue compared to ₹99.52 crore in the corresponding quarter of the previous year. Meanwhile, the co-generation unit contributed ₹52.49 crore before intersegmental eliminations.
Management highlighted that the business remains inherently seasonal, meaning quarterly results do not necessarily reflect the full-year trajectory. This quarter's strong performance successfully offset the ₹1.2 crore loss reported in Q1 FY27, which had seen operating margins dip into negative territory.
Regulatory Judgements and Exceptional Items
- The company recognized ₹1.46 crore in additional tariff and interest income during the current quarter
- This recognition stems from an Appellate Tribunal for Electricity judgement dated September 3, 2025
- Cumulative recognition under this head has reached ₹51.34 crore as of September 30, 2026
- Profit before tax stood at ₹32.5 crore, significantly higher than the ₹17.0 crore reported in Q2 FY26
- Total tax expenses for the quarter were ₹10.83 crore, including current and deferred tax provisions
Corporate Milestones and Strategic Partnerships
Ponni Sugars has been diversifying its production capabilities, notably commencing commercial production at its new 50 TCD jaggery unit in January 2026. This operational milestone follows a 2025 shareholder approval for a major five-year related-party transaction MoU with Seshasayee Paper and Boards Limited, capped at ₹60 crore annually. Financial health remains stable with a Piotroski score of 7 and a price-to-book value of 0.51, suggesting efficient asset utilization.
Despite the stock seeing a week-on-week price decline of 8.85% ahead of the results, the long-term one-year return stands positive at 19.18%.
Note on Financial Seasonality
Sugar production being seasonal, performance of one quarter is not indicative of the trend for the whole year.
| Date | Announcement | Amount |
|---|---|---|
| 24 Jul 2026 | Q1 FY27 Net Profit / (Loss)Source: livemint.com | ₹-1.23 Cr |
| 11 May 2026 | Q4 FY26 Net ProfitSource: hdfcsec.com | ₹26.68 Cr |
| 30 Jan 2026 | Q3 FY26 Net ProfitSource: NSE filing | ₹9.47 Cr |
| 24 Oct 2025 | Q2 FY26 Net ProfitSource: NSE filing | ₹14.56 Cr |
| 18 Jul 2025 | Q1 FY26 Net Profit / (Loss)Source: lemonn.co.in | ₹-2.68 Cr |
| 09 May 2025 | Q4 FY25 Net ProfitSource: lemonn.co.in | ₹4.53 Cr |
What to watch next
- Next quarterly results announcement expected in January 2027
- Performance of the jaggery manufacturing unit through the peak crushing season
- Updates on the utilization of the ₹60 crore MoU with Seshasayee Paper and Boards
“The company during the current quarter has recognized additional tariff and interest income aggregating 146 lakhs (cumulative 5134 lakhs till 30-09-2026). It is based on the judgement of Appellate Tribunal for Electricity dated 03-09-2025.”
| Share price | ₹338 |
|---|---|
| Market capitalisation | ₹290.63 Cr |
| Revenue (annual) | ₹414.99 Cr |
| Net profit (annual) | ₹48.03 Cr |
| Revenue (latest quarter) | ₹91.87 Cr+2.60% vs previous quarter |
| Net profit (latest quarter) | -₹1.23 Cr-104.61% vs previous quarter |
| P/E (TTM) | 5.87×Sector 26.6× |
| Promoter holding | 50.84%+3.50% QoQ |
| FII holding | 5.91%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Ponni Sugars (Erode) Limited announcing unaudited financial results for the quarter and half-year ended September 30, 2026. Market figures from a third-party data provider.
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