The call ran from 5:29 PM to 6:14 PM IST (45 min).
Key takeaways
Q2 revenue rose 40% to ₹576 Cr with 25% operating EBITDA margin and ₹90 Cr PAT. Arena acquisition flatters growth, and recent plant inspections remain unresolved.
| EBITDA Margin guidance | 23.0% → 24.0% Raised by 1.0 percentage points |
|---|
| Revenue growth | +40% YoY to ₹576 Cr; incl. ₹19.4 Cr Arena; 5% sequential USD growth. |
|---|---|
| Margins | Pre-R&D margin 35.8% vs 34.1% last year; third straight quarter of expansion. |
| Demand visibility | Strong visibility claimed; no quantified demand outlook given. |
| Management confidence | Upbeat; repeated 'strong visibility' despite fresh inspection observations. |
Growth
Revenue +40% YoY, H1 +45%; Arena adds ₹19.4 Cr; Q1 PAT included ₹3.6 Cr one-off insurance claim.
Outlook
Guides FY27 operating EBITDA margin 24%+ (from 23%+); ₹313 Cr of ₹500 Cr R&D spent, rest expected in three quarters.
Risks
Fresh Ambarnath/Satara observations await EIR; licensing change may lose approvals; 25%+ capital employed is pre-revenue.
Last quarter's promises, checked
Delivered
- Op EBITDA margin 22–23% → 25% (= BEAT)
Partly delivered
- R&D >₹500 Cr over FY26–Q1 FY28 → ₹313 Cr spent, 3 quarters left (= PARTIAL)
- Pithampur ops mid-CY26, commercial Q1 CY27 → no update this call, unverified (= PARTIAL)
Summary by ALFA Finder, written with AI assistance from the earnings call transcript the company filed, published . Open it on ALFA Filings ›
The results behind this call
Rubicon Research Q2 FY27 Results: Net Profit ₹90.4 Cr, Up 67.7% YoY
Rubicon Research Ltd reported revenue from operations of ₹576.4 Cr (+39.9% YoY) and net profit of ₹90.4 Cr (+67.7% YoY) for Q2 FY27.
- Key figure
- Net profit ₹90.4 Cr · +67.7% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
EBITDA margin guidance raised to 23% for FY27; Pithampur and US facility commercialization expected by Q4FY27.
Growth they described
Strong 51% YoY revenue growth driven by specialty portfolio; EBITDA margins expanded to 24.2% despite geopolitical cost headwinds.
Call details
| Company | Rubicon Research Limited |
|---|---|
| NSE symbol | RUBICON |
| ISIN | INE506V01022 |
| Call | Q2 FY27 earnings call |
| Date | Thursday, 5 November 2026 |
| Time | 5:30 PM IST |
| Length | 45 min |
Rubicon Research Limited: key numbers
- Share price
- ₹1,659.30
- Market cap
- ₹27,467 Cr
- Revenue (annual)
- ₹1,754 Cr
- Net profit (annual)
- ₹246.7 Cr
- P/E (TTM)
- 84.5×Sector 43.0×
- Promoter holding
- 51.25%-8.51% QoQ
- FII holding
- 9.01%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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