Vijay Solvex Net Profit Jumps 155% YoY to ₹15.6 Crore in Strong Q2 FY27 Performance

Key numbers

P/E Ratio	10.87Sector PE 40.65
Market Cap	₹258.92 CrSmall Cap
Promoter Holding	69.59%No pledge
1Yr Price Change	5.65%Annual return

Key highlights

• Net profit reached ₹15.6 crore in Q2 FY27, marking a 178.6% sequential increase from Q1 FY27
• Revenue from operations grew to ₹717 crore, up from ₹615 crore in the same period last year
• Operating margins expanded to 2.8%, compared to 1.3% in the year-ago quarter
• The edible oils segment contributed ₹708.69 crore to standalone revenue for the quarter
• Total consolidated income for the half-year ended September 30, 2026, stood at ₹1,342.32 crore

Edible Oils Segment Drives Revenue Expansion

Vijay Solvex maintains a heavy concentration in the edible oils market, which generated ₹708.69 crore of its standalone revenue during the quarter. This represents a steady climb from the ₹615.32 crore recorded in the corresponding quarter of the previous year. The ceramics division contributed ₹8.01 crore, while the wind power generation segment remains non-operational at its Jaisalmer plant due to financial viability concerns.

Management noted that the impact of the idle wind plant is marginal on the company's overall top line, as the FMCG-led edible oil business continues to scale efficiently within the competitive sector.

Operational Metrics and Expense Management

• Profit Before Tax (PBT) rose to ₹20.4 crore in Q2 FY27 from ₹7.6 crore in the preceding quarter
• Cost of materials consumed for the standalone entity was ₹438.38 crore during the quarter
• Employee benefit expenses for the three-month period stood at ₹6.29 crore
• Finance costs increased to ₹2.28 crore compared to ₹0.57 crore in Q1 FY27
• Current tax outgo for the quarter was recorded at ₹4.31 crore

Consolidated Balance Sheet and Liquidity Position

As of September 30, 2026, the company reported a robust consolidated asset base of ₹600.77 crore. This includes cash and cash equivalents of ₹50.52 crore and other bank balances of ₹64.24 crore, indicating a healthy liquidity cushion. Non-current assets, including property, plant, and equipment, were valued at ₹167.28 crore.

On the equity and liabilities front, total equity reached ₹383.50 crore, while current liabilities were dominated by borrowings of ₹165.76 crore. The company's current ratio remains supported by a significant inventory position valued at ₹193.78 crore.

Profitability Trends and Sector Context

• The current net profit of ₹15.6 crore follows a sequence of ₹5.58 crore in Q1 FY27 and ₹6.78 crore in Q4 FY26
• Consolidated Basic EPS for the quarter improved to ₹48.65 from ₹19.02 in the year-ago period
• Company P/E of 10.87 remains below the industry average of 20.72
• Revenue TTM stands at ₹2,528.32 crore with a net profit TTM of ₹23.83 crore
• Net profit margin for the half-year ended September 30, 2026, stood at 1.57% on a consolidated basis

What to watch next

• Resolution of Civil Writ Petition No. 16329/2026 regarding repatriated funds before the High Court of Rajasthan
• Operational update on the non-viable wind power plant in Jaisalmer for H2 FY27
• Next quarterly results announcement expected by mid-February 2027

Vijay Solvex · financial snapshot

Share price	₹808.8
Market capitalisation	₹258.92 Cr
Revenue (annual)	₹2,366.23 Cr
Net profit (annual)	₹19.30 Cr
Revenue (latest quarter)	₹622.50 Cr-9.18% vs previous quarter
Net profit (latest quarter)	₹5.58 Cr-17.71% vs previous quarter
P/E (TTM)	10.87×Sector 40.65×
Promoter holding	69.59%0.00% QoQ
FII holding	0%Current quarter

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