Hardcastle & Waud Reports Strong Growth in Q2 FY27

Profit rose to Rs 1.35 crore from Rs 0.70 crore YoY; Revenue grew to Rs 3.24 crore from Rs 2.38 crore.

Reader Takeaway: Leasing segment surge drives overall profitability, though trading and investment income show year-on-year moderation.

What just happened

Hardcastle & Waud Manufacturing Company Limited announced its standalone financial results for the quarter ended September 30, 2026. The firm recorded a profit for the period of Rs 1.35 crore, a notable increase from Rs 0.70 crore in the corresponding quarter of the previous year. Revenue from operations reached Rs 3.24 crore, compared to Rs 2.38 crore in Q2 FY26. Earnings per share (EPS) stood at Rs 19.88, up from Rs 10.37.

Why this matters

The company’s performance highlights a structural shift in its earnings engine. The Leasing segment emerged as the primary growth driver, contributing Rs 1.69 crore to revenue this quarter, significantly higher than the Rs 0.56 crore reported in the same period last year. Conversely, the Trading and Investment segments saw declines, with Trading revenue falling to Rs 53.59 lakh and Investment income dropping to Rs 100.26 lakh.

Governance and Audit

The Board of Directors approved these results on October 30, 2026. The financial statements were reviewed by statutory auditors M/s Desai Saksena & Associates, who issued an unmodified conclusion, confirming the reports comply with standard accounting practices.

What to track next

Investors should watch the sustainability of the leasing revenue. Given that the business model relies on multiple segments, the shifting revenue mix requires ongoing monitoring to ensure consistent long-term profitability as the company navigates changes in trading and investment income.