NCL Industries Q2 net profit slips marginally to ₹20 crore, revenue rises 9.6%

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NCL Industries reported a Q2 net profit of Rs 20 crore with rising revenue but lower EBITDA, while approving phases for its renewable energy project.

NCL Industries reported a marginal decline in its net profit for the second quarter of FY27, even as its revenue registered growth. The company's earnings before interest, tax, depreciation and amortisation (EBITDA), however, fell year-on-year, while its operating margin also contracted.

The company's net profit stood at ₹20 crore in the September quarter, compared with ₹21.4 crore in the corresponding period last year.

Revenue from operations increased 9.6% year-on-year to ₹386 crore in Q2 FY27, against ₹352 crore in the year-ago quarter.

EBITDA declined 36.1% to ₹37.2 crore from ₹58.2 crore in the corresponding quarter of the previous financial year. The EBITDA margin also fell to 9.6% from 16.5% a year earlier.

The company's board of directors approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, at its meeting on November 12. The statutory auditors issued unmodified limited review reports on the financial results.

Separately, the board approved the implementation of the second and third phases of NCL Industries' 130 MW solar and wind power project at Tuticorin in Tamil Nadu. The two phases will account for the remaining 80 MW of capacity and entail an estimated investment of ₹595.17 crore.

The company had earlier approved the first phase, comprising 50 MW, at an estimated cost of ₹392 crore. With the latest approval, the total estimated investment for the entire 130 MW project has increased to ₹987.17 crore. The project will be financed through a combination of debt and internal accruals.

The proposed renewable energy capacity is intended to meet the company's captive power requirements. NCL Industries also plans to sell surplus electricity through power exchanges and third-party power purchase agreements. The scheduled commissioning of the project is February 2028, subject to the applicable connectivity conditions and agreements.

In another development, the board granted in-principle approval for…

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