Stallion India Fluorochemicals Q2 Net Profit Drops 78% to ₹245.29 Lakh Despite 28.8% Revenue Growth

Stallion India Fluorochemicals reported standalone net profit of ₹245.29 lakh for the second quarter of fiscal 2027, down 78% quarter-on-quarter from ₹1,856.58 lakh, even as revenue from operations rose 28.8% year-on-year to ₹13,603.15 lakh. ScanX published the results, which the board approved on November 13, 2026.

Inside Stallion India's Q2FY27 Results

Stallion India Fluorochemicals is an Indian manufacturer and distributor of refrigerants, fluorochemicals and industrial specialty gases, serving semiconductor, chemical, pharmaceutical and air-conditioning customers through direct sales and more than 100 dealers.

Revenue for the quarter ended September 30, 2026 rose from ₹10,556.41 lakh a year earlier. Cost of materials consumed climbed 51.5% year-on-year to ₹12,004.67 lakh from ₹7,925.84 lakh, outpacing revenue growth. Employee benefits expense rose to ₹1,197.56 lakh from ₹234.89 lakh, which the company attributed largely to ESOP charges recognized during the half-year.

Operating PAT before provision for ESOP rose 4.78% year-on-year to ₹1,196.21 lakh. For H1FY27, total income was ₹26,404.90 lakh against ₹21,630.31 lakh in H1FY26, and profit before tax was ₹3,053.42 lakh against ₹2,910.27 lakh.

In September 2026, the company commenced operations at its Khalapur high-purity helium facility, which is positioned to serve semiconductor, electronics, healthcare, aerospace and defence demand. Chairman and CEO Shazad Rustomji said the facility is a key milestone as the company advances its Mambattu and R-32 initiatives.

Stallion India's Helium and Refrigerant Expansion

According to akta.pro company records, Stallion India reported revenue of ₹434.12 crores in FY26, up 14.40% year-on-year, with PAT of ₹43.84 crores and EBITDA of ₹61.35 crores. The same records show a January 2026 long-term partnership with Sharjah Oxygen Company for technical collaboration and sourcing of liquid helium from RAS Gases & Oilfields in Qatar, and a technology tie-up with SYS ADVANCE of Portugal for helium recovery and liquefaction systems.

The records also list a 10,000 MTPA R-32 refrigerant facility at Bhilwara, for which the company received Environmental Clearance and is on track to commission by October 2026, and a proposed ₹200 crore Hydrofluoroolefin plant at Bhilwara for which RIICO land allotment was received in February 2026, with construction scheduled to begin in 2027.

Analyst Meetings Before the Results

Stallion India scheduled a virtual analyst call for November 3, 2026, from 3:30 to 4:30 pm IST, filing the intimation with NSE and BSE, ScanX reported. On November 6, 2026, the company cancelled a scheduled virtual analyst meeting under SEBI Listing Regulations, citing exigencies, with no rescheduling date disclosed.

On September 21, 2026, Business Standard reported that the stock hit a 5% upper circuit at Rs 230.50 after the Khalapur facility began commercial operations for semiconductor and specialty gas debulking and blending. The 1,200-tonne-per-year facility also handles cryogenic containers and ISO tanks.

The board approved the unaudited results following a limited review by statutory auditors Mittal & Associates. The company reported cash and cash equivalents of ₹20,390.85 lakh as of September 30, 2026, down from ₹21,247.09 lakh at the start of the period, and reduced short-term borrowings by ₹2,754.58 lakh during the half-year.